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FAQ

How do I contact Twenty-Spot Loans?

Call and/or email the office to get started. Contact M.W. (916) 407-1165 twentyspotcdm@gmail.com


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Do you provide credit repair services?

We do not provide credit repair services, however, we do provide referrals for credit repair services.


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What is the minimum amount of funding available through your personal funding services?

The minimum amount of funding we will submit for is $20,000.  However approvals can come back lower than that amount.


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Will you be removing credit inquiries from my report following funding?

No, we do not provide removal of credit inquiries.


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What is the max amount of funding I can obtain?

Based on the strength of the personal credit file we can fund up to a maximum of $200,000.00


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Can you do personal funding using only my Equifax credit file and not Experian or Transunion?

We can do personal funding using only Equifax credit or only Experian.  We do not provide funding with Transunion only.


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What forms of payment will you accept for payment?

We collect our backend fee via several methods of payment:  PayPal, Credit Card Charge Authorization Form, Online Balance Transfer, and Direct Deposit.


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When will I be required to pay the fees for you providing the personal funding services?

Payment is due within 24 hours upon receiving each funded line. We will provide you with written instructions regarding payment of each credit line.


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Is there an ALL cash funding option?

No, our personal funding comes in the form of major bank-issued personal lines of credit and cards- such as: Visa, MasterCard, American Express and Discover. Once funded we can provide some tips and guidelines for the liquidation process, to convert credit to cash. Must be approved for at least one cash-line to liquidate.


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Will Income documentation be needed for personal funding?

Income documentation is not needed on 99% of loans.


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How long does it take to complete the personal funding process?

Depending on the amount of requested funds, it takes about 2-5 days for us to complete our submissions.  It then takes approximately 2-10 business days for the funding to arrive after the date of approval.


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A prequalification evaluation will take approximately how long?

Prequalifications typically take 24-48 hours, not including weekends and holidays.


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Can I still qualify for a loan with a Bankruptcy on my credit report?

Yes, BK must be at least 5 years old.


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What is the minimum credit score required to obtain a personal funding?

Your credit score must be a minimum of 680.  In addition your credit profile must also meet other basic qualifications.


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Can a co-signer be used when applying for a personal loan?

No, a co-signer may NOT be used.  Whoever is on the loan application must meet all qualifications for funding.


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How many trade lines/credit accounts will I need to have reported on my credit in order to qualify for funding?

You will need at least 3 open and active Primary trade lines on your credit report.  Trade lines should be at least 1 year old however 2 years are preferred.


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Will we need to pay any upfront charges with your personal funding services?

No upfront fees or application fees are charged on any of our services.


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