The SPECTRUM Advantage

  • 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. 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.
  • 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.
  • 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.
  • NO CHARGE FOR ADVANCES BY ACH: SPECTRUM clients receive funds transmitted via ACH free of charge.
  • NO FINANCIAL COVENANTS: SPECTRUM has absolutely NO financial performance covenants.
  • 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.