FCC makes home improvement loans in amounts between $2,000.00 and $40,000.00 and provides loan terms up to 144 months.
Our maximum loan terms are as follows:
$2,500 – $4,000 = 36 months
$4,001 – $6,000 = 48 – 60 months
$6,001 – $10,000 = 72 – 84 months
$10,001 – $40,000 = 96 – 144 months
An example of financing terms offered:
For a loan amount of $11,000 with a $0 down payment: Monthly payments of $133.40 with an Annual Percentage Rate of 7.99% for 120 months. Available to well-qualified customers on approved credit. Not all customers may qualify. Higher rates may apply for customers with lower credit ratings.
The sales representative will be required to obtain a credit application signed by each borrower and will advise the customer on the required documents that will need to be submitted to FCC. This may include a current pay stub (not more than 30 days old) and/or other proof of income (e.g. social security award letter, pension check, statement, etc.), as listed on the credit application.
The dealer can fax (866-928-4413) or email Apps@fccfinance.com the credit application to FCC, along with the work order and the dollar amount of the project. FCC will provide a same day decision regarding financing.
FCC can immediately email loan documents to the customer’s email account which can be executed by way of an E-Signature, or to the contractor, whichever is preferred.
Upon completion of the home improvement project, the contractor will send a completion certificate executed by the customer and the dealer to FCC. FCC will then contact the customer to verify they are satisfied with the work and forward the funds to the contractor.
The first payment is typically due thirty (30) days from the date of completion.
Being able to approve Prime-SubPrime loans will give contractors a substantial lift in their revenue, revive a lead they have spent money to obtain, and benefit their sales representatives.