First Pro Capital Credit Consulting Professionals

Four C’s of Credit Repair

Tagrid Shunia — Wed, 01 May 2013 00:23:09 +0000

It’s common to take some type of C suppliments, as well, there are four C’s to suppliment your credit repair program.

Control

Going over your credit card limits impacts your credit scores. Keep your credit card balances under 50% of your credit limit. Also, you must stay current with all your accounts during the credit restoration process; otherwise, being late on your payments defeats the purpose of restoring credit.

Capture

Order your credit report at Equifax or TrueCredit before you make that purchase on a new home, car, boat and etc. Checking your credit will save you from a hard credit inquiry, and possibly getting declined for your big purchase.

Correct

Once you capture the erroneous credit reporting off your credit report, or you just simply want to fine tune or restore your credit, consult with a customized credit restoration company. We provide a free credit analysis to all, just send us a copy of your three merge credit report that you purchased from Equifax or TrueCredit.

Contribute

If you want the best results in restoring or tuning-up your credit, you must participate with the credit restoration program. If the left hand doesn’t know what the right hand is doing, there will not be a gain in improving your credit.

Remember, your credit is a valuable asset for life.

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For more information on how we can restore personal credit in Estero FL, Naples FL and Palm Beach FL, please fill out the online contact form about your concerns or give us a call at 866.885.5131. Read what our valued clients have to say about First Pro Capital on our Testimonials page.

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Alternative Business Solutions for Business Problems

Tagrid Shunia — Thu, 11 Apr 2013 04:07:29 +0000

This year we are providing more alternative business solutions for the self-employed. It has been a challenge for many small business and mid-size business owners during economic shifts. All business owners deserve kudos that stayed in business and didn’t lose it during a challenging economy. Not saying our current economy isn’t challenging for business owners, it’s even more challenging because of additional credit restrictions and lots of government intervention. That’s why today more and more business owners are opting to alternative business solutions.

Alternative Business Credit

If your small business can’t get financed, consider a micro business loan, it’s an alternative small business loan that can be renewed after the maturity date. A micro business loan is a 6-12 month term which is based upon your business bank account’s average balance and your personal credit.

A factoring loan helps several small business owners with working capital, business expansion and consolidating business debt. It’s an alternative small business loan that is not available in retail banks. Factoring healthy accounts receivable maybe your next business loan alternative. A factoring loan is also renewable at the end of the loan term.

An asset based loan is based upon your tangible assets, your business accounts receivable, your business credit score and your personal credit. An asset based loan is a business line of credit amortized for three to five years. We do not compete with retail banks on asset based loans, our asset based loan programs are more flexible with the types of industries and sometimes credit than retail banks. Ex) Some manufacturing companies have difficulties getting financed for an asset based loan with a local lender, where as our lenders welcome most manufacturing companies.

Our wholesale SBA lender is very flexible with types of industries. Some industries will get penalized with a lower loan to value, that is not a bad thing, especially when other SBA lenders decline an industry because it is considered a high risk industry. Our company offers a very aggressive SBA 7(a) program.

Business Debt Solutions

It’s not fun when a mid-size business or small business files a Chapter 11 pre-petition, administrative claim, and post petition claim against a debtor who filed a Chapter 11. Getting your money back on invoices that are owed to your company is challenging, because there are other creditors settling their payoffs too. Instead of waiting and anticipating for your invoices to be paid by a company who filed a Chapter 11 bankruptcy, why not sell your pre-petition claim, your Chapter 11 administrative claim and your post petition claim to one of our third party vendors. Our company will arrange and prepare your entire transaction, and have our third party vendor sell your pre-petition, administrative claim and post petition claim on your behalf and your approval at a discounted value. It’s better to receive some of your money back than no money at all. Time is money; your company cannot afford wasted time, opt in to sell your Chapter 11 Claims.

Reducing your business debt will improve your business credit score. If your company has outstanding collections or charge offs, select an expert to settle your business collection accounts and business charge off accounts. It is very important to have a good business credit score and overall good personal credit

Get the best service and quick results that your business deserves with our alternative business solutions!

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For more information on how we can settle business debt and provide alternative business loans for you in Chicago IL, Naples FL and Palm Beach FL, please fill out the online contact form about your concerns or give us a call at 866.885.5131. Read what our valued clients have to say about First Pro Capital on our Testimonials page.

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6 Quick Tips to Improve Your Business Credit and Personal Credit Scores

Tagrid Shunia — Thu, 04 Apr 2013 00:42:27 +0000

Your personal credit is your tangible asset for life. Your personal credit is a factor in making a sound underwriting decision for a business loan. Keeping your personal credit separate from your business credit is the foundation of a sound business.

Six Quick Tips to Improve your Business Credit Score:

Pay your suppliers and vendors on time
Pay your business loan and/or commercial real estate loan on time
Pay off and settle any open business collection accounts
Settle outstanding judgments that appear on your business credit report
Don’t max out your business credit cards; try to keep the balances below 35% of what the credit limit is.
Reduce your business overhead.

Six Quick Tips to Improve Personal Credit Scores:

Don’t be late on your mortgage payment
Minimize department store credit cards
Don’t go over your available balance on your credit cards, try to keep your balances 35% or less of your credit limit. Going over your credit limit, reduces your credit scores.
Don’t get caught up with credit card offers. Multiple credit card offers equal temptation to spend more, more unnecessary credit cards, and as a result overextended debt.
Use the “need to have” rule than the “want to have”.
Try to avoid new collection accounts and charge offs.

Quick, simple and easy tips for your business credit score and personal credit scores.

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For more information on how we can fix personal credit and repair business credit in Chicago IL, Naples FL and Palm Beach FL, please fill out the online contact form about your concerns or give us a call at 866.885.5131. Read what our valued clients have to say about First Pro Capital on our Testimonials page.

~ Allow our team of professionals to assist you!

Preparing Your Credit for the Next Recession

Tagrid Shunia — Thu, 14 Mar 2013 01:23:52 +0000

Like it or not, this country is entering in another recession, and yes, worse than the last one. We’re not gloom and doomers; we just like to keep it real with our clients. In November 2012, Credit Consulting Professionals was one of the few companies out there that was predicting hyperinflation. Hyperinflation is here, it’s already developing in 2013. Compare the gas prices in November 2012 and the gas prices now. Aren’t you paying over $1.00 more per gallon than you were this past November? Increasing gas prices and utilities are the first indicators of hyperinflation. Hyperinflation is an indicator of a weak U.S. dollar. The U.S. dollar will collapse third quarter 2014. The new recession will begin after hyperinflation is saturated into our economy and the new recession will progress even worse when the U.S. dollar collapses. So now what?

If you survived the last recession, chances are, you will survive the worst one ever. Protecting your credit and reducing your debt is the foundation of surviving any national crisis. Here are a just a few steps to help you maintain or trim your financial landscape:

Lower Your Debt: A good habit to start or continue is to utilize only 30% or less of your credit card limit, never go over 50% of your credit limit, this applies to business credit cards too.

Sell Your Non-Performing Real Estate Now: If you’re still on the fence about short selling your non-performing real estate, this year is the year to sell it. Example: A past client of ours short sold all his non-performing investment properties at one time. It was a smart decision from my past client, and also recommended by Credit Consulting Professionals to short sale all the distressed properties at the same time. My past client thanks us to this date; he saved thousands of dollars per month by eliminating his non-performing real estate. Also consider, more credit crunches and bank bubbles are right around the corner. Don’t believe it? Ask yourself, how much longer will banks hold onto their shadow foreclosure inventory and how fast can banks recuperate from their charge offs?

Buy a Fuel Efficient Car: If you’re driving a gas guzzler now, you are probably spending a lot of money on gas. You may want to trade in your gas guzzler for a fuel efficient car.

Don’t Buy Bonds: The “Bond Bubble” chatter is out, don’t be surprised, it’s just around the corner. If you own bonds, sell them now before it’s too late. Don’t wait and ride out the “bond bubble” market.

Fix Your Credit Now: If your credit is tarnished from the last real estate bubble, and would like to take advantage of today’s car sales and low housing prices, now is the time to repair your credit. Having good credit will save you thousands of dollars per year, even if you don’t plan to buy another home. Your credit is your tangible asset for life; it is attached to you forever.

Make Your Big Purchases Now: It’s challenging enough to get financed in this market. Before we have more credit crunches, purchase your home, your car, refinance your business loan and purchase distressed commercial real estate now.

We don’t steer our clients in the wrong direction. If you’re in the wrong direction, call us to put you on the right path.

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For more information on how we can repair credit and settle debt in Chicago IL, Naples FL and Palm Beach FL, please fill out the online contact form about your concerns or give us a call at 866.885.5131. Read what our valued clients have to say about First Pro Capital on our Testimonials page.

~ Allow our team of professionals to assist you!

FAQs about Financing Distressed Commercial Real Estate

Tagrid Shunia — Tue, 26 Feb 2013 15:51:29 +0000

Obtaining financing for distressed commercial real estate can be challenging. Even if the commercial property is a good bargain, financing your distressed commercial real estate maybe limited.

Purchasing Distressed Commercial Real Estate

A distressed asset has a negative or poor cash flow; otherwise, it wouldn’t be classified as “distressed”.

Q.) How will lenders be able to lend if a commercial real estate property isn’t cash flowing?

A.) A private money or hard money lender will lend on distressed commercial real estate with a lower loan to value or also include cross-collateralizating upon your other real estate investments or have two other guarantors qualify for the loan.

Q.) Do I need good credit and cash reserves to be qualified for purchasing distressed commercial real estate?

A.) It depends on the property type you are purchasing, for example, a distressed marina will require good credit, cross-collateralization and cash reserves. Example 2) A distressed medical building will not require cross-collateralization.

Q.) What property types does your company finance?

A.) First of all, we are not a direct hard money or private money lender. We do not charge upfront broker fees for our alternative lending programs. The property types we typically finance are:

Apartment Buildings

Bowling Alleys

Fractured Condos

Golf Course (case by case)

Hotels

Land (case by case)

Multi-Family (5 units and Up)

Medical Buildings

Marinas

Motels

Mixed Use

Office Condo (case by case)

Retail

Strip Mall (case by case)

Refinancing Distressed Commercial Real Estate

If you’re in pre-foreclosure or foreclosure status on your commercial real estate loan, we may be able to help you.

Q.) How can you help me if I am in foreclosure or pre-foreclosure status with my current commercial real estate loan?

A.) We would first provide you with a free consultation to discuss whether or not we may be able to help you exit out of your current pre-foreclosure or foreclosure situation. This all depends if your current lender will accept a short pay off, in most cases, the lender will take a short pay off only if you have negative equity.

Q.) I have bad credit, can you still help me get financed for a commercial real estate loan?

A.) If you are currently late on your home loan and late on your commercial real estate loan, your chances of obtaining a new commercial real estate loan are restricted.

Q.) Do you finance commercial properties only in Florida and Illinois?

A.) No, we able to finance commercial real estate around the country, though, we prefer to meet of our clients in person who live in Florida and Illinois.

More questions? Your alternative lending source for commercial hard money and private money is just a phone call away.

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For more information on how we can help you finance your distressed commercial real estate with Private Money and Commercial Hard Money in Chicago IL, Naples FL and Palm Beach FL, please fill out the online contact form about your concerns or give us a call at 866.885.5131. Read what our valued clients have to say about First Pro Capital on our Testimonials page.

~ Allow our team of professionals to assist you!

5 Tips to Prevent Online Identity Theft

Tagrid Shunia — Mon, 11 Feb 2013 23:40:28 +0000

Tough times equal more crimes, including the internet. If you’re shopping online to get the best rate for car insurance, mortgage, or auto loan, proceed with caution. There are more computer intellects that use their intellect by wrong means; aka hackers, are causing massive internet crimes and excessive online identity theft. It’s possible to expose your personal information to an internet hacker who hacked into an online platform for mortgage shoppers, insurance shoppers and loan shoppers. Here are five quick tips to help prevent online identity theft:

When providing your financial information online for a loan, make sure the URL starts with https:// and with a closed security lock icon. Know about the company that you are applying for credit, if you do not know them, don’t apply. It’s best referred to a lending institution or insurance company directly by a friend, family member, attorney, CPA, real estate agent or wealth advisor.

Don’t respond to spam email from an unfamiliar company that requests you to apply online. Call the company directly, and do your diligence about their online and offline reputation.

Install a high end internet security system that will check whether or not a website is safe. A high end security system runs as soon as you turn on your computer and automatically shuts down when you turn off your computer. Spend more on a high quality internet security system, its well worth the investment

Enroll in a credit monitoring program with Equifax or Truecredit.com; they will notify you if there has been suspicious activity on your credit. Some credit card companies like Discover have “over the limit” alerts.

If you have a POP3 or IMAP email account, adjust your anti-spam to the recommended level that your service provider suggests. Do not go below the recommended number for anti-spam, you may jeopardize your personal information if you go below your service provider’s recommended level.

It’s always best to get referred to a financial institution by a friend, family, CPA, attorney, wealth manager and real estate agent. If you don’t have time to get referred to a lender or broker, make time, your credit and identity are well worth safe keeping. 95% of First Pro Capital Inc. and Credit Consulting Professionals Inc. clients are derived from referrals.

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For more information on how we can help you with your online identity theft and credit , please fill out the online contact form about your concerns or give us a call at 866.885.5131. Read what our valued clients have to say about First Pro Capital on our Testimonials page.

~ Allow our team of professionals to assist you!

4 New Alternative Business Solutions for 2013

Tagrid Shunia — Tue, 29 Jan 2013 23:09:09 +0000

2013 and 2014 will be quite challenging for small business owners, especially in 2014. At First Pro Capital, we strive to service our clients the best we can. We have added four valuable alternative business programs that will help small business and mid-size business owners.

Business Credit Repair

As a business owner, your time is your money, especially in this economic climate. Why not hire our company to fix your business credit? If you’re not sure what your business credit looks like, simply order a business credit report at Experian. Our consultation is free!

Chapter 11 Purchase Claims

Your debtor owes you substantial amounts of unpaid invoices; the debtor filed a Chapter 11, so now what? If your company filed a 503(b)(9) administrative claim against the debtor, your time maybe running out to replenish your accounts receivable. Consider selling your pre-petition claim, your 503(b)(9) administrative claim and your post petition claim at a discount. Some monies are better than none. If you have wasted an enormous amount of time to wait for your monies, now is the time to sell your Chapter 11 Claims to our lending partners. Our lending partners will buyout your company’s pre-petition claim, your 503(b)(9) administrative claim and your post-petition claim at a discounted value.

Higher Loan to Value Commercial Hard Money

Our new private hard money lender will fund higher loan to value commercial real estate loans. If you are in need of a bridge loan for a unique commercial property or if you need your cash available for other projects or improvements, this loan program may fit your commercial real estate project. This loan program requires cross-collateralization of other properties or cash assets like investment accounts, in exchange for the high loan to value.

SBA 7(a) Simplified for Dental and Medical Practices

Higher loan to value SBA 7(a) loans for

Debt Consolidation
Dentists
Doctors
Medical Equipment Financing
Medical Practice Acquisitions
Veterinarians
Working Capital

Business owners and real estate investors, you have one source, First Pro Capital and Credit Consulting Professionals, for your credit, your alternative business loan and alternative commercial real estate financing. Why wait? Our consultation is free!

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For more information on how we can help you with your alternative business loan, private hard money and Chapter 11 buyout claim in Chicago IL, Boca Raton FL and Naples FL, please fill out the online contact form about your concerns or give us a call at 866.885.5131. Read what our valued clients have to say about First Pro Capital on our Testimonials page.

~ Allow our team of professionals to assist you!

To Credit or not to Credit is the Question…

Tagrid Shunia — Wed, 09 Jan 2013 02:34:00 +0000

Welcome to 2013, expect changes obtaining new credit. The Fiscal Cliff negotiation is just another bandage on our economy, in fact, we have too many of them, and some eventually will not work and fall off. As a result, expect more credit crunches and lending restrictions throughout 2013. We believe there will be another recession right around the corner, worse than the previous one, here’s why:

The real unemployment rate, not the unemployment rate that Washington says it is
The National Debt
Devaluing the U. S. Dollar (Ask Bernanke why is he spending millions of dollars per month on junk mortgage backed securities?)
The Shadow Foreclosure Inventory
The Beginning of Hyperinflation (Gas prices and utilities are the first indicators of hyperinflation)
Food Stamp Usage: 1 in 6.7 people are on food stamps in the United States. That’s 15.0% of people living in America are on food assistance
More Taxes, who is else is going to pay for Washington’s spending?

We’re not gloom and doomers, we like to keep it real, there is no sense of hiding truthful information from our clients. Keeping your personal credit and your business credit in tip-top shape is more important than ever before. If you’re considering purchasing a car, home, business, apartment building, a second home or investment property, purchase now. The longer you wait, the harder it will get to obtain new credit. Clients that have 680 credit scores are currently enrolled in our customized credit repair program, because they were recently turned down for credit. It is happening, credit crunching.

If your credit is in question, consult with us, the consultation is free!

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For more information on how we can help you fix your personal credit and business credit in Estero FL, Fort Myers FL and Naples FL, please fill out the online contact form about your concerns or give us a call at 866.885.5131. Read what our valued clients have to say about First Pro Capital on our Testimonials page.

~ Allow our team of professionals to assist you!

Commercial Hard Money for Southwest Florida’s Distressed Properties

Tagrid Shunia — Tue, 11 Dec 2012 20:21:59 +0000

Don’t think that obtaining commercial hard money is a desperate strategy for your distressed commercial real estate or unique property. Commercial hard money has tightened up as well as other lending programs that are available. Back in the day, many presumed commercial hard money was just for bad credit applicants; this is not the case in today’s real estate market. Good credit applicants need commercial hard money for their commercial real estate projects too, and keeping your personal credit in good standing is the key to your financial success. If you do have good credit and your local lender declines your commercial real estate loan application, now is the time to opt in to a commercial bridge loan.

Apartment Building Loans

Most local lenders will require parcels of the apartment complex to be contiguous; our hard money lenders will not require the parcels to be contiguous.

Fractured Condos

Local lenders will not lend on “broken condos”, our lenders will.

Mixed Use Properties

With lending tightening up, local banks prefer not to lend on mixed use properties

Foreclosing on Commercial Property

If your property is in its early or mid-stages of foreclosure or if your property is upside down in value, do not panic; check out your options with a commercial hard money loan. Consult with your real estate attorney before you start shopping for a commercial bridge loan.

Smart investors know a good investment, the ROI versus the interest rate is far more important than shopping for the lowest conventional rate possible. Time is money, there is not much time while there is a good commercial real estate investment pending. What are more important are your ROI, your exit strategy and closing your valuable real estate investment.

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For more information on how we can help you Commercial Hard Money Loan in Estero FL, Fort Myers FL and Naples FL, please fill out the online contact form about your concerns or give us a call at 866.885.5131. Read what our valued clients have to say about First Pro Capital on our Testimonials page.

~ Allow our team of professionals to assist you!

4 Chilling Effects of the Fiscal Cliff that can hurt Your Credit

Tagrid Shunia — Fri, 07 Dec 2012 22:36:44 +0000

Our divided government has not agreed about avoiding the fiscal cliff, regardless if there is an agreement, statistics show an inevitable recession, inflation accelerating, more tax increases on small businesses and for incomes of $250,000 and over. Let’s not forget about the 3 -5 year old shadow foreclosure inventory that banks have retained in their portfolio, it has to go out somewhere, right? Or how about 46 million Americans on food stamps and counting, these are factors of an upcoming recession, a weaker economy and a credit downgrade. The statistics and factors we provided will cause a chilling effect on your credit, here are just a few topics:

1. Credit Applications: If you’re applying for a business loan or mortgage in 2013, expect more credit crunches and extra underwriting conditions. Most of the general public doesn’t understand the logistics of the Dodd Frank Act; actually, it hurts the economy and you than helping the economy and you. The Dodd Frank Act will be in full effect in 2013, which will cause a series of credit crunches for mortgage applications. Did our country need mortgage reform? Yes, indeed, however, the Dodd Frank Act also needs reform.

2. Higher Closing Costs for Business Loans and Home Loans: More government intervention equals more expenses to lending institutions, which causes a domino effect of expenses back to you. Example: If a lending institution expenses more to comply with more government regulations, then your closing costs will cost more. More expenses equal more fees, more spending equals’ inflation, it’s simple math.

3. Credit Restrictions across the Sphere: If you’re repeatedly late on a credit card or line of credit, your other creditors may reduce your other credit lines. Banks can no longer afford default, that’s why most banks have a proactive outreach to their borrowers. Business credit is tightening up as well, it’s important to maintain your business credit in good standing too. Even if we do offer alternative business financing, expect more credit restrictions for your small business loan application.

4. More Debt More Problems: The national debt is out of control, in fact, Obama wants to enforce an unlimited debt ceiling, spending as much as the government wants to without limitations, which you will be paying for. More debt weakens our U.S dollar and your credit. It’s like going shopping to Neiman Marcus and Saks without any credit limits or restrictions, and then Neiman Marcus and Saks would be out the gross revenues, in turn pay for their losses and without replenishing inventory.

Even if we do enter another recession, keep your finances in tip-top shape, and maintain your credit and debt in good standing.

Related Articles:

For more information on how we can help you fix your personal credit and business credit in Chicago IL, Naples FL and Palm Beach FL, please fill out the online contact form about your concerns or give us a call at 866.885.5131. Read what our valued clients have to say about First Pro Capital on our Testimonials page.

~ Allow our team of professionals to assist you!