What should I ask my lender?

4 QUESTIONS TO ASK YOUR LENDING COMPANY

 

  1. Will there be hidden fees?

This is the most important question.  Fees have the ability to completely change the parameters of your loan and point you down an unexpected path.  We have seen numerous funding companies charge hidden fees, which may make a transaction appear much better for the business than it really is.  Understanding the fee structure will help you navigate to the best lender for you and your needs.

 

  1. How will you help me get the best rate?

Direct lenders have a specific product suite that is designed to help different businesses.  Once you are matched with a product type, it’s important to continue to speak with lenders to obtain the lowest rate.  Prestar Capital specializes in getting multiple offers for each product type to ensure our customers get the best terms with the best pricing out there.  We believe in doing the legwork so you don’t have to.

 

  1. What do you need from me?

It's important to understand the required documentation for each type of loan.   Each product type that you are matched with will require minimal documentation.  Your Funding Specialist will communicate not only which document is needed, but the easiest way to obtain that document.  The more documentation you provide, the quicker you will receive the decision.

 

  1. How are the reviews from previous customers?

With the help of tremendous rating aggregators, it's easier than ever to see an unbiased review of the companies you are working with.  For example, Prestar Capital’s reviews can be found at https://www.trustpilot.com/review/goprestar.com