Here are some answers to the most frequently asked questions that we receive.
Why ThermoCredit and how are you different than other lenders?
ThermoCredit is different because we are focused on where you want to take your company, rather than focusing on where it has been. We provide funding solutions that allow you to keep control of your company. Additionally, we are not a bank, so our financing qualifications are more flexible.
What industries does ThermoCredit serve?
We primarily focus on the Communications and Technology sector, but as the needs of the marketplace evolve, ThermoCredit is prepared to evolve with the marketplace.
Are there minimum and maximum financing numbers?
No and that is one of the great advantages to working with ThermoCredit as opposed to a bank. Your financial package is based upon what you need, not what the bank thinks you need. You know your business better than anyone else, so ThermoCredit is ready to talk with you about the needs of your business.
What does the typical ThermoCredit client look like?
There is no typical ThermoCredit client. Each client has different goals, scale, resources, and market reach, so each funding package is unique. This means we have a variety of options because we’ve serviced hundreds of clients since 2002. We can customize a funding solution to meet every need.
What do I need to get started?
You will need to provide your company roadmap to us, as well as provide some information to our team about your company and its assets. One of our ThermoCredit team members will be happy walk you through the easy process of getting started.
How long is the approval process? How quickly can I receive the funds?
The approval process and funding is generally done in a matter of weeks.
How can I use the funds I get from ThermoCredit?
The funds are provided so you can meet the needs of your business. Payroll, expansion, debt refinancing, capital investments, equipment purchases, and more. ThermoCredit is here to help your company prosper.
Will I have to sign a personal guarantee?
No.ThermoCredit is not a bank, so a personal guarantee usually not necessary.
How are funds repaid to ThermoCredit?
Those terms generally addressed during the financing process. ThermoCredit has a variety of options, including cheque, EFT, wire, monthly debit, and more.
What is the average duration of a ThermoCredit contract?
Most ThermoCredit funding solutions are open ended. We create a credit facility for your company that is available for as long as you need it.
What can I do to help with the lending process?
Don’t be afraid to ask questions and participate in the process. The more information we have, the more options we can present.
What is my ThermoCredit relationship like? Am I just another number?
Working with ThermoCredit is about building and solving problems. You are not another number. For most of our clients, ThermoCredit becomes a trusted resource, in addition to being a lender of choice. We provide guidance to our clients, help them grow, and create real relationships.