SPECTRUM'S Advantages

  • PERFORMANCE INCENTIVES: SPECTRUM clients may qualify for interest rate reductions based on achieving net income targets.
  • RE-ADVANCE ON EQUIPMENT: SPECTRUM clients may be eligible to receive a re-advance of up to 90% of the original advance against the equipment without the need for a new appraisal.
  • NO LEGAL FEES FOR STANDARD DOCUMENTATION: Most lenders will charge legal fees for loan documentation and any subsequent changes to the documents. These fees can easily exceed ¼% to ½% of the size of the credit facility depending on the complexity of the transaction. There are no legal fees for documentation with SPECTRUM. The only exception would be for the reimbursement of legal fees related to a real estate loan, if applicable.
  • NO CLOSING COSTS: SPECTRUM only requires reimbursement for expenses related to UCC filings, public record searches, credit information, and travel costs. If the credit facility includes equipment and/or real estate, we will pass along only the costs of the equipment and/or real estate appraisals and environmental reports. There are no additional costs to close a credit facility with SPECTRUM.
  • NO UNUSED LINE FEE: Many lenders will charge a fee on the difference between what a client borrows and the line amount. This fee can be ½% or more of the overall line amount. There are no unused line fees for SPECTRUM clients.
  • NO CHARGE FOR ADVANCES BY ACH: SPECTRUM clients receive funds transmitted via ACH free of charge.
  • COST SAVINGS OVERALL WITH SPECTRUM: SPECTRUM clients potentially save up to 2.0% or more per year compared to other lenders based on the performance incentives savings (1.0%); legal fee savings (0.5%); and unused line fee savings (0.5%).
  • NO FINANCIAL COVENANTS: SPECTRUM has absolutely NO financial covenants. Many lenders have specific financial covenants which must be met to avoid default and default interest or fees. SPECTRUM understands the financial challenges companies experience and does not have covenants related to the financial performance of the business.
  • RETURN (OR MOVE) TO REFERRING BANK: When a SPECTRUM client becomes bankable again, they may go to their referring bank at any time after 12 months with SPECTRUM.
  • REFERENCES: Our existing and graduated clients are our best source of new business. We provide a list of references with every proposal.