What is www.thesnaploan.com?

jimjimjimjimjimjim Posts: 2subscriber
edited December 2007 in Growth Funding
Greetings everyone!
I`m new to this community... but I`ve been seeing alot of people mentioning www.thesnaploan.com . I visited the the website... My question is: how legit is this?

Comments

  • stonesledgestonesledge Posts: 8subscriber
    I am not sure. It seems a little "fishy" IMO. But that is just the feel I get. I remember someone advertising it here a while back.
     
    Erin
  • mattsindmattsind Posts: 0subscriber

    Greetings everyone!
    I`m new to this community... but I`ve been seeing alot of people mentioning www.thesnaploan.com . I visited the the website... My question is: how legit is this?

    Hi jimjimjim,
    I just received that link in a discussion thread I started.  I just replied that I would check out this link and keep them posted.
    Perhaps, I can return you that favor...
  • mattsindmattsind Posts: 0subscriber

    I am not sure. It seems a little "fishy" IMO. But that is just the feel I get. I remember someone advertising it here a while back. Erin

    Hi Stonesledge,
    I was suggested www.thesnaploan.com in a discussion thread I started, very recently, so the title of this discussion thread caught my eye.
    I prefer to use my time productively, rather than waste it.  So, I thought I would ask you if you heard anything else about this site.  You mentioned that you heard it advertise some time back.  Did any feedback come of it?
    Just trying to see if I need to even waste my time going to the website.
  • jimjimjimjimjimjim Posts: 2subscriber
    I guess no has heard anything about this site....
  • sagetroutsagetrout Posts: 1subscriber
    I`m not familiar with this company.  I`m familiar with the concept.   They aren`t the only company that offers unsecured lines of credit for people with at least a 675 FICO score. 
     
    One problem I noticed about their web site was that you couldn`t access additional information about their program without filling out a contact card first.  That seems pretty aggressive to me.
     
    You should know that anytime a lender says they will give you "unsecured" credit it`s going to be expensive money.   Your credit card is unsecured credit.  How inexpensive is that? 
     
    If you`re seeking financing, look at all the traditional methods and exhaust them before you turn to "alternative methods".   If you have a real business, a solid business plan, and enough money, you should be able to get financing.   If you contact me, I`ll tell you more.
     
  • Ralph4Ralph4 Posts: 3subscriber
    I guess no has heard anything about this site....


    Actually, I am in the last legs of their approval process.  I have submitted an application to [url=http://www.thesnaploan.com. ]www.thesnaploan.com. [/url]
    Right now, I am waiting for my application approval.
    The entire loan application process is done online.  Based on what I know, www.thesnaploan.com is an internet arm of a parent financial company based out of Colorado.
    They are very specific about the requirements, simple, and straightforward.  There is no guess work involved.  They say their specialty is helping businesses with no collateral get stated business line of credits.
    Let me know if you want more details.
    They say it takes about two weeks for an approval.  I am right at that stage.
    Hope my information is helpful.
    I will make it a point to keep you posted.
  • jimjimjimjimjimjim Posts: 2subscriber
    Perfect! Let me know if it works out and what the terms are... Thank you.
  • Ralph4Ralph4 Posts: 3subscriber

    Perfect! Let me know if it works out and what the terms are... Thank you.

    I told you that I would keep you posted about my application.  However, it`s the holiday season, and it has been quite wacky, yet wonderful.
    I did receive my approval from www.thesnaploan.com.
    If you are really serious, you can put in your email at the bottom of their homepage and receive everything to get you going.
    I didn`t find it very hard...hence most people won`t.  Yes, I`m a hard headed one.
    Let me know if anything works out for you.  Seasons greetings to your entire family and the members of this forum.
  • realnycguyrealnycguy Posts: 0subscriber
    Actually, there are dozens of cash advance companies out there, and they all have different criteria for funding.  Some of the more established companies can mold a plan more specific to the business at hand.  While 1 year in business is a generally accepted practice, it is not the rule.  You can usually go as high as $50,000 without requests for tax returns as well.  Meaning, you should do your homework on the different companies out there.
    I work for 2nd SOURCE FUNDING, and we work with 7 different Merchant Banks.  To anyone who doubts the viability and size of the industry, we are currently funding between $10 and $15 million a month to merchants in all 50 states.  We usually ask for the last couple months of bank statements and merchant processing statements, so we can assess the business as a whole and how your income is broken down.  In some cases, we will forward you to one of our banks for a more traditional loan vehicle (though 650+ FICO scores and P&L`s are required).
    Realistically, you can expect to pay  between 25%-40% on the money.  Refinancing options are available to merchants who pay on schedule.
    In summary, this business is evolving and you should apply to more than one company to see who will offer the best terms.  Also be cognizant of the fact that in most (but not all) cases, you will be required to switch your credit card processing company.  Make sure your rates are not hidden and the fees inflated.
    If you would like to learn more, feel free to contact me
    Brian A. Baron
    Executive Funding Specialist
    877-700-7947 # 1912
    877-699-9017 fax
  • Ralph4Ralph4 Posts: 3subscriber

    I`m not familiar with this company.  I`m familiar with the concept.   They aren`t the only company that offers unsecured lines of credit for people with at least a 675 FICO score.   One problem I noticed about their web site was that you couldn`t access additional information about their program without filling out a contact card first.  That seems pretty aggressive to me.  You should know that anytime a lender says they will give you "unsecured" credit it`s going to be expensive money.   Your credit card is unsecured credit.  How inexpensive is that?   If you`re seeking financing, look at all the traditional methods and exhaust them before you turn to "alternative methods".   If you have a real business, a solid business plan, and enough money, you should be able to get financing.   If you contact me, I`ll tell you more. 

    Traditional methods of financing are always an option, if they are available to you. 
    In today`s business, the profile that traditional lending institutions use may not be a reflection of the actual profile of today`s business owners, which often causes the desperate business owner to seek funding in alternative venues.
    At www.thesnaploan.com, there is a consulting fee of 5 points on the amount of money they acquire for you.  If they do not acquire a loan for you, there is no charge.
    What do you think of this policy and fee application process?
  • mattsindmattsind Posts: 0subscriber
    I have used [url=http://www.thesnaploan.com. ]www.thesnaploan.com. [/url] My biggest fear about them was that it was some virtual business online that would end up asking me for astronomical fees and charges.
    But actually, they are the online branch of a real commercial business located in Colorado, who has recently implemented this online loan source after a successful trial run of two years.  Now they offer their services to all US residents.
    There are other companies out there that offer similar services.  However, in my opinion, most  tend not to be upfront about everything involved in the loan process.  They sought of spring it on you bit by bit.
    I like www.thesnaploan.com because they do the complete opposite.  You know exactly what you are getting into from start to finish.
  • pertrainpertrain Posts: 2subscriber
    Hi Mattsind,
                               I can`t find anything negative about snaploan and I`m interested in applying
    w/them. My question to you is, if you can help me, is I have 2 companies, one I`m a 50%
    owner of and the other I own the majority. The faq on their website says you have to be an 80%
    owner. It also says you have to have a 675 score, which my miiddle score is at least that, and no
    lates. I have just 1 30 day late a year ago on a credit card. Do you know if any of that is an issue?
    I`ve looked all over their website and unless I`m overlooking something, I can`t find a phone #
    to call. Is there anyway to actually speak to a live person there and get answers to these questions?
     
         Thanks for your time.
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