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The line of credit program is designed
for dealers who want to maximize growth by leveraging on the value
of their accounts.
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The Line of Credit is established for one year in an amount
based upon your needs and opportunities. When one year is completed,
no additional advances are made under this line of credit. The
cash collected from the accounts advanced against during the
one-year term of this line of credit continues to pay off the
total amount advanced during the one-year term of this line
of credit. To obtain ongoing financing, a new one-year line
of credit is established with the advance and repayment process
repeated as a new group of accounts is installed. |
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The loan advance multiple is up to 27 times. Subscribers must
have a Beacon Credit Score of 625 or more. |
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As new accounts are installed, funding is provided monthly
to accommodate cash flow requirements. |
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All cash collected from subscribers is applied first to monitoring,
then to billing and interest expense with the remaining cash
applied to principal repayment. |
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