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Credit Suite: Reviews, Loan Breakdown & Requirements in 2020

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Strengths

  • A wide variety of financing plans available
  • No collateral needed
  • Excellent customer service and consultation advice
  • Applicants with low credit scores are eligible
  • Can apply for up to 8 loans at a time

Weaknesses

  • Funding process is lengthy
  • Too many options might confuse certain users
  • No 24/7 customer service

Breakdown

Minimum time in business

None (even startups)

Credit score

No requirement

Annual revenue

No requirement

Borrowing

Up to $500,000

Funding time

3-21 days

Loan Term

3-36 months

Borrowing Fee

None

Origination Fee

0%-5%

Collateral

Not required

APR

As little as 0%

Credit Suite is a company you can trust to deliver exceptional customer service and to help you build your business credit.  Short-term business loans aren’t linked to your SSN but rather the business’s EIN and have no collateral or cash flow requirements. 

Looking at hundreds of recent Credit Suite reviews it is clear that the company’s main aim is to help entrepreneurs obtain loans, credit lines, and business credit to grow their small businesses. This is done through a big network of investors. Credit Suite’s innovative white label Business Finance Suite gives clients the opportunity to provide financing and credit to customers. 

How does Credit Suite measure up against other loaning companies? Referring to numerous Credit Suite customer reviews, we’ve conducted a thorough analysis to provide the ultimate review of the company. 

In this review we will focus on the following factors:

  • Features of the loan provider
  • Loan application procedure and terms
  • Plans, pricing, and repayment
  • Pros and cons
  • FAQ

Credit Suite Borrower Plans

Credit Suite has loads of different options that can be divided into two main categories:

Line of Credit & Business Loans

With 14 different financing plans, you are bound to find the perfect fit. Considering hundreds of reviews of Credit Suite business loans, it is clear that many small business owners who get a ‘No’ from banks, can get a ‘Yes’ from Credit Suite. 

Regardless of your revenue, credit quality, or collateral, all small business owners are eligible for one or more of the financing options. Credit Suite connects borrowers to hundreds of lenders (who individually have their own terms and conditions) in their network. Giving borrowers with all kinds of backgrounds a few options to choose from and guaranteed results.
Let’s have a closer look at the various financing options:

Credit Line Hybrid Financing

This option is perfect for startups and entrepreneurs who need a cash injection. Funding amounts range between $5,000-$150,000. The qualification process is easy and the lender will only look at your credit score, which should be at least 680. If your credit score is low, you can qualify with a personal guarantor. The entire application and funding process can take between 3-21 days.

Business Revenue Financing

Perfect for business owners who have a bad credit quality. A simple online review of your business’ bank statements can have you approved within 3 days for a funding amount of up to $500,000. Annual revenue should be at least $120,000 and you have to be at least 12 months in business. 

Merchant Financing

Perfect for business owners with excellent cash flow. Funding amounts range between $5,000-$250,000. As long as you have consistent deposits over the past 6 months, you can be approved within 24 hours and have access to funds within 72 hours. Reviews of Credit Suite borrowers state that 80% of clients return to apply for this plan numerous times. 

Account Receivable

If you want to ensure cash-flow because of outstanding account receivables, then this program is for you. Funding amounts range from $10,000-$20 million. Only requirements are that your business should be at least 1 year old and you should be able to provide collateral of account receivables. 

Purchase Order Financing

Excellent financing option for business owners who have large orders to fill without wanting to use their cash flow. Approval amounts range from $5,000-$20,000. 

Small Business Loans (SBA) 

Get approved for amounts between $250,000-$12 million. Payback terms are much longer and can be taken out on 10,15, and 20 years terms. With a low-interest rate of 5%-6%, this is an excellent financing option. Requirements: 50% of loan amount as collateral, good credit score, and financial statements. 

Other

Additionally, you can apply for other more specific financing plans that include:

  • Inventory financing
  • 401k plan financing
  • Securities-based line of credit
  • Equipment financing and leasing
  • House reseller financing
  • Commercial real estate financing
  • Private money
  • Book-of-business financing

These plans have approval amounts ranging between $5,000-$12 million. Requirements range from bad FICO scores to average. Pre-approval takes less than 24 hours and funding can take between 3-21 days.

Pricing & Repayment

Rates are very dependent on different lenders’ terms and conditions. Typically exclusive unsecured financing plans offer a very low introductory interest rate of 0% for the first 6-18 months. After this period, interest rates increase to 5%+. 

Application fees are also dependent but range between 9%-12% once funding has been approved. Verified Credit Suite reviews state that these fees are very low compared to other business loan companies in the industry. 

Depending on the kind of financial plan you opt for, you will have repayment terms of between 3-36 months or 10,15, and 20 years. 

A great selling point is that you can get approved from different lenders as much as 8-9 times, which increases your line of credit. 

How To Apply For A Loan With Credit Suite? 

The online application process takes only a few minutes and is completely free.
Here is a step-by-step guide to the process: 

Step 1: Complete a quick 5-minute pre-qualify application at https://my.creditsuite.com/qualifier-form/

 Step 2: Provide the following information: 

  • Name and Surname
  • Contact details
  • Birthdate
  • Business name
  • Personal credit score
  • Monthly Gross Revenue
  • Information on business owned collateral

Step 3: Schedule a free 30-minute consultation with a finance officer online, or alternatively phone  (877) 600-2487.

 Step 4: Pick the best suitable financing plan and provide any further information.

Step 5: Upon approval, review, and e-sign closing documents.

Step 6: Receive funds within 3-21 days.

Customer Service

Connect with Credit Suite to discuss your options on (877) 600-2487 or email info@creditsuite.com. Free consultations to the value of $199 are available and can be requested on their website. Online reviews of Credit Suite sing the consultants and the financial experts praises.

Pros & Cons

A wide variety of financing plans available

No collateral needed

Excellent customer service and consultation advice

Large funding amounts

Can apply for up to 8 loans at a time

Low-interest rates

Applicants with low credit scores are eligible

White label Business Financing Suite available for investors

Funding process is lengthy

Too many options might confuse certain users

No 24/7 customer service

Credit Suite Reviews 

Even though the company is only 6 years old, it has quickly grown and proven itself to be a competitor in the industry. Credit Suite has great reviews from borrowers and lenders which proves their credibility. With an A+ BBB rating and only 5-star reviews since they opened their doors in 2014, Credit Suite’s online presence is growing.

Trustpilot grants Credit Suite a 4.8-star rating from 142 reviews and yet another 4.8-star review from 208 votes on Sotellus.com. Credit Suite’s Google reviews are at a staggering 4.9-star from 43 reviewers. 

Wrap-Up

Working with legitimate funding programs and lenders, Credit Suite is enabling its clients to be approved for credit lines even if the odds are stacked against them. Using the expertise of financial officers, Credit Suite connects all its potential customers to a vast network of credit providers. While negotiating the best rates and terms on your behalf. 

Excellent online Credit Suite reviews are testimony enough that the company is perfect for small business owners looking to build their credit. As well as obtain a line of credit without any requirements and super low rates. 

Editor Rating
VISIT SITE

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FAQ

What is the level of customer service availability?

You can phone a Credit Suite loan consultant on (877) 600-2487 during their office hours, Monday-Friday 9 am-7 pm. Closed on weekends. Alternatively, you can contact them via email on info@creditsuite.com. Credit Suite has an active social media following, and you can follow them on Instagram, Facebook, and Twitter for the latest news.

What is Credit Suite’s BBB rating? Is it accredited?

Founded in 2014, Credit Suite is not yet accredited. Regardless, Credit Suite reviews on the BBB website are excellent with an A+ rating.

Who is Credit Suite business loan best for?

Best for entrepreneurs and business owners who have bad credit, bankruptcy claims, and who can’t get approval for loans from banks. As well as business owners who need assistance in approaching lenders and negotiating the best terms.