Factors that affect credit approval

Your credit is important. Without it, home buying and car buying become difficult, if not impossible. Banks want your credit to be perfect and credit unions offer the slightest bit of leniency.

That's where finance companies come in to the picture. We offer loans to individuals with less than perfect credit. We provide a service to those who pay, but may have hit a few bumps in the road.

As a local lender, we have the ability and responsibility to assess every individual and situation seperately.

Key factors that we consider positive are:

- Job time of more than two years or five years in the same line of work

- Home owners for at least a year or renting at the same residence for more than 2 years

- Good payment history with other finance companies (no more than an occassional late payment more

than 30 days)

- Collateral or equity

- Income to support all credit payments required

- Willingness to pay

Key factors that we consider negative are:

- Short job time (less than 6 months)

- Short residence time

- Recent bankruptcy (in the last 12 months)

- Recent repossession (in the last 18 monts)

- Recent judgement (in the last 24 monts)

- History of serious delinquency with banks or finance companies (consistently more than 60 days past

due)

- Excessive credit obligations (more than 50% of after tax income is needed to pay credit debt)

It is important to keep in mind that having any one positive factor or any one negative factor does not guarantee your loan status. Each individual is different and circumstances change for day to day. Things that may have prevented you from paying a note in the past may no longer be an issue.

We want to help you get and keep your credit on track.