Frequently Asked Questions
what is queen city financial affiliates?
We are a financial services company for small businesses in Cincinnati and Northern Ky
how do you help small businesses?
We help small businesses secure the capital they need to operate and grow. We do this using, both secured and unsecured, term loans, lines of credit, business credit cards, credit building training, and credit repair training.
Why are you better than doing it myself?
As a Fundwise Partner, after lenders bid with their best offers, our clients are matched with the best funding for their business. Research shows our clients receive more funds at better rates than they could on their own.
do you pull a credit report?
NO!, we use a soft check so there are no negative effects on your credit report. We use the soft check to the build information pack lenders bid on to get your business.
Why do i have to talk to an Adviser?
There are hundreds of business funding options available. Each business has a specific set of needs. If you knew about all of them you would go directly to the best one for you. Our advisers know about all the options available and they talk to you to learn your specific needs, then they build your packet to submit to best lenders who offer the best solution for you. The time you spend with them on a short phone call insures you get exactly what you need for your business.
Do you collect money upfront or anytime prior to securing funding?
No, there are no upfront fees.
Do you offer business credit line loans?
Yes, For example, if a business has an EIN number setup, we can usually get about 50% of the funds in the business name.
do you REQUIRE a personal guarantee?
Yes, since we are dealing with unsecured, there is a higher risk to the lender. The lenders do require a personal guarantee. But this is much better than tying your home or car to a loan. With a secured loan you risk losing the asset your loan is tied to. We work with over 350 banks and lenders who all personally guarantee the loan. This won't show up on their personal credit report unless they default.
do you require any collateral to secure funding?
No, we only offer unsecured loans and unsecured lines of credit.
Do you have a requirement for minimum years in business?
Do you accept stated income/stated assets?
Just based on a client's personal credit, we can secure a certain amount of funding in just revolving lines of credit.
We can do a non-verifiable income loan, but it's difficult because often a client has already maxed out or has above 45% credit utilization on their cards. They need to pay these cards down in order to receive revolving lines of credit. Because many clients can't pay down their cards, we ask for their income.