About Cooperative Credit Systems
Cooperative Credit System. CCS is a lending platform designed to connect businesses with private capital, equity based lenders who desire to offer fair and affordable consumer financing that complies with our strict guidelines.
To participate, the lender must offer only flat, simple interest, unsecured installment loans with no unfair terms to include escalating interest rates, hidden fees, recurring charges or early payment penalties.
(CCS) Cooperative Credit Systems is not a bank and does not represent banks. Cooperative Credit Systems is a national network of major, aggressive private lenders striving to make credit accessible to consumers under fair, understandable and simple terms.
To participate, the lender must offer only flat, simple interest, unsecured installment loans with no unfair terms to include escalating interest rates, hidden fees, recurring charges or early payment penalties.
(CCS) Cooperative Credit Systems is not a bank and does not represent banks. Cooperative Credit Systems is a national network of major, aggressive private lenders striving to make credit accessible to consumers under fair, understandable and simple terms.
How We Work
- Businesses log into an easy to use online portal and quickly apply for instant financing on the customers behalf.
- The approved business builds in the required discount rate determined by the credit profile of the borrower.
- The discount rate applied to a loan is a function of the customer's credit and financial profile.
- The higher the risk, the higher the discount rate.
- All state laws regarding discount and interest rate are built into the system.
- Within approximately 15 minutes the portal delivers an "Approval" or "Decline" notice.
- The customer pay's low, simple interest rates with no unfair or confusing terms and no hidden fees. Interest rates and payments do not change for the life of the loan.
- Customers with distressed credit can still qualify and benefit from desirable and affordable interest rates, payments and terms.
- Customers can use the program to affordably rebuild their credit.
The Process
- Member Businesses complete the simple, online application on behalf of the customer.
- The portal delivers the "Approval" or "Decline" response.
- The Member Business "Certifies" the loan and builds the discount.
- The portal serves up the loan agreement, the business prints out the agreement and acquires the customer signature.
- The lender makes a call to the customer and confirms the terms of the loan.
- The business receives a "Verified" notice from the protal indicating the loan is secured
- The merchant returns the signed loan agreement and other documents via fax or email.
- The business receives an electronic deposit to their designated bank account for the amount of the loan within 48 hours.
Credit Score vs. Loan Amount
Credit Challenged (560-670) Max. Loan Amount $15,000 Max. Term 48 Months
Near Prime (670-740) Max. Loan Amount $20-$25,000 Max. Term 60 Months
Prime (740+) Max Loan Amount $30-$35,000 Max Term 72 Months
Near Prime (670-740) Max. Loan Amount $20-$25,000 Max. Term 60 Months
Prime (740+) Max Loan Amount $30-$35,000 Max Term 72 Months
Required Documents
You may be requested to provide any or all of the following for each pre-approved application:
- 2 recent pay stubs
- Copy of drivers license or government issued ID card
- Utility bill with current address matching that on application
- Signed contract and auto debit form (Visa, MasterCard or Checking Account acceptable)
Promotional "Specials"
Below is an example of a promotional special CCS can offer:
- 0% APR for 12 months or 90 Days differed payments
- No Additional Fees: No co-signer or guarantor fees, no prepayment penalties, no balloon payments
- Zero Interest Option: If the financed amount is paid in full within 12 months, no finance charge will be assessed. Monthly on-time payments are required.