Frequently Asked Questions1. What is Corporate Credit?
Corporate Credit are lines of credit given by various financial institutions to business entities. There are several types of Corporate Credit which most companies can obtain. The most common forms of Corporate Credit are: * Corporate Credit Cards (American Express, Advanta)
Corporate Credit is typically established by slowly growing your company’s credit score either on the Dunn and Bradstreet (DNB) index or through the Paydex credit bureau. Properly using, maintaining and repeatedly paying off your existing lines of credit will result in your financial institutions positively reporting to these independent bureaus. As your credit score grows, your credit worthiness increases and you can successively obtain larger lines of credit.
Reasons to use Oceanview Credit Solutions: * Oceanview is FAST. The typical funding cycle for Oceanview clients is 3 – 6 months.
The minimum amount of that Oceanview provides is a total of $300,000, comprised of multiple credit lines. For clients with existing businesses, we can provide multiple rounds of funding to as high as $20 Million.
What types of credit can I get?
Oceanview works with approximately 400 different financial institutions and we offer a diverse portfolio of Corporate Credit options. Through the process of building your credit scores, Oceanview opens multiple lines of credit. The initial lines of credit we offer are Corporate and Vendor Credit Cards. We select various credit companies that will provide the maximum credit line possible as well as properly report your progress to the Credit Bureaus. As your score grows, we can successively open larger credit lines through our extensive network of banks. The bulk of your overall Corporate Credit will be via Bank Lines of Credit.
Are there any restrictions on how I can use the credit?
Oceanview acts as both your underwriter and your account manager. Our ultimate goal is to provide our clients with generous lines of credit while protecting our network of banks from excessive losses. Once a credit line is established, our clients are free to use them for whatever purpose suits them as long as the client remains in good standing with our lenders. Over extending credit lines or failure to make timely payments will result in the credit lines being revoked.
What kind of interest rates do I have to pay?
Every financial institution that Oceanview contracts with offers competitive rates. Credit and Vendor Card interest rates vary the most. Many provide special offers such as 0% for six months or low interest balance transfer options. Our bank lines of credit are extremely competitive and average under 10%. Your interest rates will be fully disclosed as each line becomes available.
The most important qualification requirement is to have an individual with a FICO score of 660+ to act as the CFO. This individual can be you, a relative or a close associate. The CFO must also maintain their FICO score in good standing during the funding process as their credit history will be utilized obtain the initial lines of credit. The CFO should not purchase any homes or cars during the funding stage. |
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 If you need cash, we can help. Are you looking for between $300,000 and $5,000,000 to grow your business? Do you want the assurance of having your funding based on the company and not on your personal credit? Are you ready to expand or open new locations?
If so, call us now at (800) 680-8509 or complete the form below.
Do I have to put up any property, collateral or company stock?
NO. Our program was specifically designed to offer Corporate Credit without requiring substantial collateral. We offer unsecured lines of credit from our strategic banking partners.
Do you require a personal guarantee or personal liability?
YES but only for the first 9 – 18 months. Once your established credit lines have matured with no late pays, over the limit, your personal liability can be transferred to your business where it belongs.
How long does it take to get setup?
The average client begins to receive corporate credit within 45 days of completing our contract, and obtains all of their requested credit lines within 3 – 6 months. Established corporations take less time than startup companies. Larger credit lines usually take longer but can be expedited by providing audited financials.
We have a number of different services, but we are typically paid a percentage of whatever credit we attain for you. These fees are used to cover our legal, underwriting and ongoing account management services. Additionally, a portion of these fees are used to protect our network of financial institutions from loses. Our financial institutions consistently provide larger limits because we proactively manage our clients to prevent excessive losses.
Do I have to give up a portion of my company?
NO. Unlike the Venture Capital process, Oceanview does not require any ownership in your company. Corporate Credit is simply debt financing for your own company.
How much does it take to get started?
This is directly dependent to the type of funding you need and your personal and business situation. Contact us today so that we can determine how much you are qualified for, and how quickly we can help you.
What is the guarantee that I’ll get my credit lines?
Oceanview offers each client our ZERO RISK GUARANTEE. If Oceanview cannot fulfill its obligation to meet the requested amount of Corporate Credit, all paid in Setup Fees will be refunded. This is our 100% performance guarantee. |
Call Today (800) 680-8509
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