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BMFH Capital Inc.
Aid in the economic advancement of underserved and underbanked U.S. communities
WHO WILL IT BE FOR?
For customers that typically do not have access to mainstream, competitively priced financing products such as loans and credit cards because they do not have a credit score, or do not have scores that reflect their true creditworthiness due to limited credit history.
We expect to serve customers that would be considered low-, moderate- or middle-income with limited savings. Considering our expected customers’ limited liquidity, access to credit is essential to assist with unforeseen expenses and larger purchases to support themselves and their families.
What
We Will
Offer
Personal Loans
Affordable, unsecured, fully amortizing installment loans with fixed payments and fixed interest rates throughout the life of the loan. Loans will range in size from $1,000 to $12,000 based on the applicant’s requested amount and eligibility. Loan terms and costs will be risk-based and within permissible ranges under the California Finance Law. No loan will have an APR greater than 35.9%. Loans will be underwritten using a combination of cash-flow analysis and employment history.
HOW WILL IT WORK?
User requests a loan proposal
Users allow us access to their bank statements for instant verification of their income, directly from the financial source.
Users get a loan approval based on a cash-flow analysis and after running the standard know your customer procedures
Loan Terms and Loan Agreement is signed electronically
Users get their money in their bank account
Contact
Us
Our Address
350 10th Ave, Suite 1000, Office 1078
San Diego, CA 92101