Stated Income Business Lines of Credit too good to be true?

[Francisco Garcia Jr]

What is your feedback on companies that claim to offer a product like this?

The main funding option which most of our clients love funds up to $200K, No income verification needed, No collateral, and O% interest for 12 to 24 months. There are no upfront fees to apply.

• Unsecured Business Lines of Credit (Stated Income, No Collateral, Strictly Credit Based)
  • Requirements: Company listed in the state, IRS EIN #, business bank account & 680 score
• Get APPROVED within 2-3 days from $30,000 to up to $200,000
• Perfect for Real Estate Agents who want to invest in their business for marketing purposes or buy properties with cash on hand from the business line of credit.

The problem I have they are charging a success fee of up to 15% in some cases for obtaining credit cards for you and not true business credit lines as they say.