COMPANY
What kind of company is International Monetary Funds?
Are you connected with The International Monetary Fund?
COSTS
Are there any upfront fees?
What are the costs?
When is my first payment due?
CREDIT REQUIREMENTS
What are your credit requirements?
I have bad credit, can I still get approved?
I have a bankruptcy, can I still get approved?
I have limited credit history, can I still get approved?
Can I use a co-signer?
How much income do I need to make a year?
Do you offer loans outside the U.S?
PROCESS
What is the process to get approved and funded?
Is there a way to speed things up?
Who can qualify?
How do I begin?
I am not comfortable providing my social security number online, what should I do?
Will you pull my credit report?
Can I send you my own credit report?
What kind of documentation will I need to provide?
Who should I contact once my loan is in process?
Can I change my mind after I am in process?
Why can't I get an approval in 90 Seconds like everyone else does?
PRODUCTS
What kind of loans does IMF specialize in?
Is there any collateral required?
What is an unsecured loan?
What can I do with the money I get?
Is it possible to obtain a line of credit instead of a loan?
Do you offer collateral loans?
How much can I borrow for personal reasons?
How much can I borrow for my business?
What is the difference between an unsecured start-up business loan and an unsecured business loan?
Is your business loan a Merchant Advance Loan?
PRIVACY AND SECURITY
How secure is my information?
RATES AND TERMS
What is the interest rate I can expect to receive?
What are the loan terms?
What is my payment going to be?
Are there any pre-payment penalties?
SURETY BONDING BASICS
What is Surety?
What is a Surety Bond?
Is a Surety Bond the same thing as an Irrevocable Letter of Credit?
What charecteristics of suretyship are like more common forms of insurance?
How does a surety underwrite?
What is Personal Indemnity?
Why such an emphasis on "Related Entities"?
How does collateral relate to a surety bond?
What is a financial guarantee bond?
COMPANY
What is International Monetary Funds?
We are an international loaning, consulting and placement firm, specializing in providing secured and unsecured loans and lines of credit approvals in a fair, efficient and easy to understand manner for individuals and small business owners.
Are you connected with The International Monetary Fund?
We are not directly connected to The International Monetary Fund, headquartered in Washington D.C. We are a totally independent 100% owned multi national organization that fully supports their policies.
IMF Warns Of Fraudulent E-Mails and Financial Scams Misusing Its Name
Press Release No. 06/154
July 14, 2006
The Finance Department of the International Monetary Fund (IMF) today issued the following statement to warn the public about fraudulent e-mail messages and financial scams misusing the name of the IMF:
"A recent increase in deceptive schemes designed to defraud members of the public and potential investors has prompted the IMF to repeat its warning about any unsolicited e-mail or other unsolicited communications purportedly originating from, or implying an affiliation with, the IMF.
"The IMF does not send any unsolicited business communications to individuals. The IMF is an intergovernmental organization. The IMF does not endorse the activities of any bank, financial institution, or other public or private agency.
"The IMF has learned of various forms of identity fraud and financial fraud involving the unauthorized use of the IMF's name and emblem. This includes `phishing' attacks, in which the names of IMF officials have been misused to deceive recipients into disclosing personal financial information, and `spoofing' attempts, in which a false copy of the IMF website had been created with false contact information, to mislead potential users.
"The IMF warns the public against various forms of cross-border fraud, investment fraud, advanced fee scams and similar scams in which the IMF's name has been fraudulently used to induce potential investors. The IMF wishes to stress that it is neither the author of, nor in any other way associated with, such fraudulent activities. The IMF does not issue or guarantee any obligations called "Prime Bank Notes," "Prime Bank Guarantees," "Bill of Exchange" or the like, nor does it directly extend any credit lines through commercial banks or other agencies. Moreover, the IMF does not guarantee debentures or other financial instruments issued by a member country or any other entity. It does not sponsor investment programs,or "high-yield financial programs"
For similar IMF warnings, see News Brief Number 96/14 of November 18, 1996.
COSTS
Are there any upfront fees?
No, we believe that reputable firms do not charge application fees. Click here to GET STARTED.
What are the costs?
Our application process is free, with no upfront fees of any kind. In certain instances there may be a success fee due after you are approved. . All details will be disclosed to you, should you meet our pre-qualification criteria. Our consultant will disclose the associated finance and transaction costs to you directly. You can expect to receive highly competitive rates & terms based upon your unique credit profile. At International Monetary Funds, our primary goal is for you to be approved for the amount of money you need, at a rate and payment term you can afford. There is no obligation to proceed at any time unless you are completely satisfied. Click here to GET STARTED.
When is my first payment due?
Usually your first payment will be due around 45 days after you receive your money. Click here to GET STARTED.
CREDIT REQUIREMENTS
What are your credit requirements?
You must be able to exhibit a responsible credit history with the stability and ability to re-pay your obligation. Click here to GET STARTED.
I have bad credit, can I still get approved?
Our in-house program is designed to reward individuals and small business owners that have maintained a responsible credit history. That being said, if you think you have bad credit, we will gladly review your information at no cost to you. If we cannot assist you, in certain instances we may be able to offer you a free recommendation to a lending partner that may approve your loan request. Click here to GET STARTED.
I have a bankruptcy, can I still get approved?
Yes, if your bankruptcy was dismissed some years ago or longer and you have maintained a responsible credit history since that time, your loan request can still be approved. Click here to GET STARTED.
I have limited credit history, can I still get approved?
Yes, it is possible, as long as you can exhibit strength in other areas, such as income, assets, home and employment stability. Keep in mind all these factors and more determine the amount, rate and term you will be approved for. Click here to GET STARTED.
Can I use a co-signer?
Yes, but we only recommend using a co-signer if you have a responsible credit history and the co-signer has stronger credit than you. If you have a poor credit history, we recommend that the co-signer fill out their request individually, without you attached to the loan; otherwise your poor credit will override any strength offered by the co-signer. We recommend that a co-signer be a spouse, close relative or business partner. Click here to GET STARTED.
How much income do I need to make a year?
The amount of income you need to make depends upon the size of your loan request and your existing savings. If you don’t have any savings, the minimum acceptable income level is $100,000. Click here to GET STARTED.
Do you offer loans outside the U.S.?
Certainly, we can submit loans to over 3,000 lending institutions in over 100 countries. Click here to GET STARTED.
PROCESS
What is the process to get approved and funded?
The first step is for you to provide the information requested on our online application form. If your loan request meets our pre-qualification criteria. we will make an appointment to call you to explain in detail all aspects of our loan program and answer any questions you may have. Once we receive your commitment to proceed, you can expect to receive a decision soon. Click here to GET STARTED.
Is there a way to speed things up?
The best way to speed up the process is to be as responsive as possible to all phone calls and requests until your loan is funded. Click here to GET STARTED.
Who can qualify?
Anyone over the age of 18 that resides in a nation in the developed world. Click here to GET STARTED.
How do I begin?
You can complete our online pre-qualification form. Click here to GET STARTED.
I am not comfortable providing my social security number online, what should I do?
Will you pull my credit report?
No, IMF does NOT pull your credit report. We do not allow computers to make credit decisions like most. Our decisions are made by people who are more interested in your present financial position than your past history. In certain instances, and with your authorization, our co-lenders may occasionally pull your credit bureau report. Click here to GET STARTED.
Can I send you my own credit report?
No, we cannot accept any third party credit reports. Click here to GET STARTED.
What kind of documentation will I need to provide?
Our streamlined loan process minimizes the number of documents required. The actual documents that you need to provide will vary based on your situation. In most instances, no documents are required. We will be able to tell you exactly what is required after you have been pre-qualified. Click here to GET STARTED.
Who should I contact once my loan is in process?
Once you submit your online loan application form you will be assigned a number that is used in all communications, a personal loan consultant is then assigned to guide you through the loan process. Your loan consultant is your point of contact until your loan closes. Your consultant will typically call to explain our process and answer any questions you may have. Click here to GET STARTED.
Can I change my mind after I am in process?
Yes, you may cancel your request at any time without penalty by giving us notice. Click here to GET STARTED.
Why can't I be approved in 90 seconds like everyone else does?
We do not believe that COMPUTERS should make decisions about PEOPLE.
99% of credit offers are made by a computer program according to your credit score. Our selection and decision making is done by PEOPLE for PEOPLE like yourself and that takes 3 days or more.
PRODUCTS
What kind of loans does International Monetary Funds specialize in?
We exclusively offer a secured or unsecured loan or line of credit for individuals or business owners worldwide. There is no collateral required [it CAN be provided], and the funds can be used for any purpose. Your approval is simply based upon your responsible credit history and ability to repay your loan. Click here to GET STARTED.
Is there any collateral required?
No. There is no need to secure your loan request with any of YOUR assets. [Again, they CAN be provided.] Click here to GET STARTED.
What is an unsecured loan?
An unsecured loan is an advance of money that does not require collateral, such as a house (unless you want it provided), as security the loan will be re-paid. Instead the loan is backed up only by the borrower's promise to repay. Unsecured loans are also known as signature loans, because they only require your signature to get funded. Click here to GET STARTED.
What can I do with the money I get?
You can use it for any legal purpose you would like. Click here to GET STARTED.
Is it possible to obtain a line of credit instead of a loan?
The majority of our clients do not have a preference, as they are more interested in receiving money than how they receive money. Feel free to indicate your choice, but understand that our primary goal is for you to be approved for the amount of money you request. Click here to GET STARTED.
Do you offer collateral loans?
Yes, if you're interested in using your home or other security to secure a loan or if you are looking for commercial financing [or you want the collateral provided], we will facilitate your request. Click here to GET STARTED.
How much can I borrow for personal reasons?
Loan approvals range from $500,000 to $10,000,000, depending on many factors, such as your personal credit history, income, previous credit limits, residence status and employment history, just to name a few. Beware of finance companies claiming the ability to approve you for more than this amount with no collateral required. You will likely find that it’s either a marketing tactic to get your application in the hopes that you will accept less money after you have invested your time in their process, or you will find that these are brokers that blast your request out simultaneously to multiple lenders in the hopes that more than one lender will approve your request without knowledge of the other lender. This is not only fraudulent, but it can damage your credit. Click here to GET STARTED.
How much can I borrow for my business?
Business Loan approvals range from $500,000 to $10,000,000 for start up businesses operating for less than two years and from $500,000 to $10,000,000 for businesses operating for two years or more. The exact amount depends on many factors, such as your current credit history, income, previous unsecured credit limits, residence status, business gross sales and time in business, just to name a few. Beware of finance companies claiming the ability to approve you for more than this amount with no collateral required. You will likely find that it’s either a marketing tactic to get your application in the hopes that you will accept less money after you have invested your time in their process, or you will find that these are brokers that blast your request out simultaneously to multiple lenders in the hopes that more than one lender will approve your request without knowledge of the other lender. This is not only fraudulent, but it can damage your credit. Click here to GET STARTED.
What is the difference between an unsecured start-up business loan and an unsecured business loan?
Start-up business loans are typically for businesses that have been in operation for less than 2 years. Business loans are for businesses that have been operating for two years or more. Due to the lack of business history to evaluate your loan request, more personal credit factors will be taken into consideration for a start-up business loan than for a business loan. Click here to GET STARTED.
Is your business loan a Merchant Advance Loan?
No, our product is available for any business. Your business does not have to accept credit cards. Your approval is simply based upon your responsible credit history and willingness to repay your loan. You will receive much lower interest rates than are offered by credit card merchant advance firms. Click here to GET STARTED.
PRIVACY AND SECURITY
How secure is my information?
Your privacy and security is of utmost importance to us. We take stringent measures to protect your personal information. Click here to GET STARTED.
RATES AND TERMS
What is the interest rate I can expect to receive?
Everyone’s situation is different. Interest rates will vary depending on your credit history and ability to re-pay your loan. Most clients are approved within a range of 7.9% to 19.99%. Click here to GET STARTED.
What are the loan terms?
Loan terms will typically range from 12 to 84 months. A line of credit usually does not have a designated term. Click here to GET STARTED.
What is my payment going to be?
Your re-payment amount is based upon your own unique credit profile and will be determined by the interest rate and loan term you receive after your information is evaluated. Often times your rate and term can be customized to fit the exact payment goals you would like to achieve. If you are not satisfied with your offer, you are under no obligation to proceed. Our goal is for your loan request to be approved at the most competitive interest rate and term that exists for your situation. Click here to GET STARTED.
Are there any pre-payment penalties?
No, you may make more than your minimum payment or pay your loan in full at any time without incurring pre-payment penalties. Click here to GET STARTED.
SURETY BONDING BASICS
By law, most publicly-funded entities are required to protect the financial interests of the public by requiring some form of "guarantee" of the other party when executing a contract for services with the other party. This "guarantee" is most commonly met by providing a Performance & Payment Bond, which provides the promise of a trusted third to step in and complete the obligation without adverse financial impact to the public. Private entities also find it to their advantage to specify a Performance & Payment Bond on their projects - doing so allows them to safely entertain proposals from a far broader base of bidders and/or respondents than otherwise would be possible.
What follows are answers to some commonly asked questions regarding Surety Bonding. Of course, our licensed representatives are available to answer any other specific questions you may have.
Surety is a very specialized line of insurance that is created whenever one party guarantees performance of an obligation by another party. There are three parties to the agreement:
The surety guarantees the obligation will be performed.
The obligee is the party who receives the benefit of the bond.
A surety bond is a written agreement that usually provides for monetary compensation in case the principal fails to perform the acts as promised. There are many different types of surety bonds, but the two general categories are contract and commercial surety bonds.
Not really. In the case of the Irrevocable Letter of Credit (ILOC), the obligee may draw the funds provided in the ILOC in the event of default or other failure to perform, but can still be left with a challenging project completion effort. In the case of a Surety Bond, the surety has clear financial incentive to minimize their exposure and loss. In most cases, these interests are best served by working closely with the obligee to most expeditiously complete the project.
For a full discussion of this is prepared by the Surety Information Office.
They are both risk transfer mechanisms.
State insurance commissioners regulate them both.
They both provide for financial loss.
In traditional insurance, the risk is transferred to the insurance company. In suretyship, the risk remains with the principal. The protection of the bond is for the obligee.
In traditional insurance, the insurance company takes into consideration that a certain amount of the premium for the policy will be paid out in losses. In true suretyship, the premiums paid are "service fees" charged for the use of the surety company’s financial backing and guarantee.
In underwriting traditional insurance products the goal is "spread of risk." In suretyship, surety professionals view their underwriting as a form of credit so the emphasis is on prequalification and selection.
Each surety company has its own guidelines and underwriting criteria. However, the following basic factors will be taken into consideration in some format:
Capacity. Does the applicant have the skill and ability to perform the obligation?
Capital. Does the financial condition of the applicant justify approval of the particular risk?
Character. Does the applicant’s record show him to be of good character and likely to perform the obligation he or she assumes?
It is common for a surety to request the indemnity of the owners of a closely held corporation. Typically, the spouse’s indemnity also is required because personal assets are jointly owned. The two main reasons for this requirement are that the surety requires all personal assets to be available to back the guarantee and that there is less chance a principal will avoid its responsibilities if its personal assets are at stake.
Related entities can include other businesses or proprietorships owned, operated, or controlled by the primary firm or it's owners. Where such related entities exist, the surety typically underwrites based on the overall reputation and financial strength and performance of the the extended family. The surety may also request that cross-entity transactions be consolidated or eliminated, and may also request subordination or indemnification from or by the related entities.
If an underwriter is unable to approve a bond request based on the qualifications given by the principal, the company may suggest depositing some form of collateral as an inducement to write the bond. In practice, many bonds are written on this basis, particularly ones that are considered financial guarantees.
A financial guarantee bond obligates the surety to pay a certain amount of money if the principal does not perform its obligation. Examples include tax bonds and Medicare and Medicaid bonds. These bonds are extremely hazardous and very carefully underwritten.
