TERMS & CONDITIONS

Interest Rate & Fees
APR (Variable): 10.99% – 17.99% (based on credit score; excellent credit scores 750+ qualify for the lower end)
Draw Period: Indefinite (you can borrow as needed, up to the limit)
Minimum Draw: $500 – $1,000 depending on the institution
Monthly Payment: Interest-only or 1–2% of the outstanding balance
Annual Fee: $50–$100 (sometimes waived for the first year)
Origination Fee: Usually $0 for a PLOC (unlike personal loans)

⚠️ Penalties & Additional Terms
Late Payment Fee: $25–$40 or a percentage of the minimum due
Over-limit Fee: $25–$35 if you exceed $100,000 credit line
Returned Payment Fee: ~$25–$35
Default APR: Can increase by 2–6% if payments are missed or late repeatedly
Early Closure Fee: Some banks charge a $100–$200 fee if you close the PLOC within the first 12–24 months

📊 Qualifying Requirements
Credit Score: 720+ for best rates (some may approve at 680+)
Debt-to-Income Ratio (DTI): Usually under 40%
Income Verification: Required (W-2s, tax returns, bank statements)
Employment: Stable employment history preferred (2+ years)

PRIVACY
We believe and respect each and every individual's privacy. We do not sell, lease, share, nor disclose in any form the personal and sensitive information of our clients without the consent of the latter.

DISPUTES
Any dispute or controversy arising from this loan agreement shall be resolved by arbitration by the election of the parties. The language used in arbitration shall be in the English language. The chosen number of arbiters for the arbitration shall be at the election and agreement of both parties. The arbitration award shall be based in all facts and circumstances given by both parties, and by which the arbitration award shall be final and binding upon the parties involved. The losing party shall be responsible for the payment of the arbitration and other legal fees including attorney's fees.