Baselane has partnered with Lendflow to provide you with the opportunity for an investment property Line of Credit that is designed for:
Investors with a large amount of equity in the investment property and a high credit score
Entrepreneurs looking to renovate a current property or purchase an additional investment property
How do I apply for a Line of Credit?
You can apply for a Line of Credit with Lendflow directly from Baselane’s Line of Credit landing page - www.baselane.com/line-of-credit. The application process is quick and easy, and you can begin by selecting the orange ‘Apply for funding now’ from the landing page.
Once you’ve submitted your application, a Lendflow funding advisor will contact you within 1-2 business days to discuss your application further!
What are the eligibility requirements?
Lendflow services almost every industry and any size of business. Here are the minimum criteria:
At least 6 months in business
$14,000 or more in monthly revenue
550 personal credit score or better
What information do I need to provide to apply?
Lendflow only needs some basic information to kick off the application process:
General business information
SSN & EIN
How long does the loan process take?
Once your application is completed, a funding advisor will contact you within 1-2 business days. If you qualify, you will receive offers within 1-3 business days, and if approved, the funds can be in your account in 0-1 business days.
How much are the loans for?
The loans will be anywhere from $5,000 to $500,000 and the exact amount will be dependent on your revenue, credit worthiness, and other factors.
Will the application affect my credit?
No. The application just provides the necessary information to perform an initial evaluation of your business. If you are eligible for financing, the lenders will perform a “soft-pull” of your credit, which does not affect your score.
How much will I be eligible for?
This depends on your financial situation including your credit history, your revenue history, your current balances, and other factors.
How long does the whole process take?
Once you have completed the full application and your application has been reviewed, a funding advisor will reach out to you immediately or the next day. Depending on the financing structure you are eligible for and once you have submitted the additional documents necessary, you will receive your offer in one to two business days. Once accepted and signed for, you can expect the funds to be in your account the same day or the next business day.
What rates and terms are offered?
This will depend on a broad range of metrics that we analyze about your business and your financial standing. Lendflow works with many of the top lenders in the nation who compete against one another to make you an offer which ensures that you get the best rates available.
When do I have to repay my loan?
Depending on a variety of factors, you will be making automatic payments either daily, weekly, or monthly.
Who do I contact if I have any questions?
Please call +1 (646)747-0199 to get in touch with one of Lendflow’s Funding Advisors. You can also email Lendflow’s Funding Advisors at [email protected].
Can I get a Line of Credit for a rental property? Or borrow against my rental property
Your best bet is to apply to see what you qualify for. Lendflow work’s with a network of lenders to make sure you get the best options the market has to offer.
Lendflow specializes in non-secure lending options. The good part about this is you don’t have to put your rental property up as collateral in order to receive the line of credit.
How do I get a Line of Credit for Real Estate Investing?
You can do so through the regular lending application. There is no differentiator between a general Line of Credit and one for real estate use.
How do I use a HELOC to buy an investment property?
Since Lendflow specializes in non-secure lending your best bet is to pursue more traditional avenues for a HELOC. This could be by either going to your bank or a lender that specializes in this space.