I contacted this company that provides unsecured gap funding for 3-7 years, no pre-payment penalty after 6 months, 20k - 400k loan amounts and you need a 600+ credit score. Their cut is 15% up front once the loan is funded. That's for submitting your application to their private network. That's a ton of cash simply to submit paperwork. Essentially they send all your docs to their private partners of 220 investors and institutions to fund your deal.
Example: $100k loan
Rand Capital - 20k for 3 years @ 14.7%
Larry Capital Holding - 50k for 4 years @ 10.8%
Air and Space Capital - 30k for 5 years @ 16.2%
You'll need to pay each loan individually.
It sounds to good to be true and sounds outrageous at the same time. What are your thoughts, would you do it?
I am trying to figure out whether to do this also. So I'm following this thread! (The company I have been in communication with and considering using is MB Capital, I really do like the people I've spoken with there so far.)