A personal loan is based strictly on a person's credit risk profile and repayment ability. You do not need a legally incorporated business to obtain a personal loan.

No. There are two major types of options based on personal numbers, which have to do with term loans and credit cards.

Personal loans are loans based primarily on a person's credit profile, so the underwriting process will be based primarily on analyzing your credit report, so you must meet at least the following requirements:

• Have a credit score of at least 700 points.

• No bankruptcies in the last three years.

• No more than two late payments were reported in the last year.

• Have no more than two hard inquiries reported in the last year.

• Have a credit card utilization rate below 40%.

• At the income level, the fundamental requirement is having sustained and uninterrupted income for at least two years over $36,000 per year.

When you obtain a fixed-term personal loan, the terms can range from 3 to 5 years with fixed monthly payments.

Since personal credit cards are revolving credit, you can pay the amount you use only for as long as you need it.

Please note that we are facilitators of the personal loan process and work with a network of local lenders and banks that can provide you with better financing options. Through us, the process works as follows:

Step 1: With a signed application plus 1 ID, we start your process.

Step 2: We issue and analyze your credit report (we do not do a hard credit pull).

Step 3: In the event of pre-qualification, we quote the amounts and types of products you can receive.

Step 4: Once accepted, the UW process begins with one or more lenders depending on the type of transaction to be executed.

Step 5: Each lender may ask for additional documentation during the process and, once completed, will make a different closing. In the event of obtaining credit cards, once the qualification process is completed, in about 30 days, the applied and approved cards will be sent to your address.

As in any financing product, the cost of capital and the rate will be adjusted to your risk profile, but in fixed-term loans, you could obtain ranges between 9 and 16% per annum. In personal credit cards, you could get some solutions with 0% per annum during the first year and from the second year onwards with ranges between 23 and 28% APR.

It is 100% tax deductible.

As in any financing product, the cost of capital and the rate will be adjusted to your risk profile, but in fixed-term loans, you could obtain ranges between 9 and 16% per annum. In personal credit cards, you could get some solutions with 0% per annum during the first year and from the second year onwards with ranges between 23 and 28% APR.

Most personal loan solutions do not require collateral or asset-based security but will be reported on your credit report.

As Capifinders, we have simplified the work process to improve and facilitate the process of raising capital in a personal way, both in the pre-qualification process and having prepared a highly trained team to guide you through the step-by-step process of understanding your suitable financing options.