Stone Bridge Capital Group?

[Hong Lem]

Has anyone used Stone bridge capital group for funding before? If so, could you share your experience? They do not have much info on their site.

This is the link to their site: http://sbcapgroup.com/ufg/

[Eric Schrader]

@Hong Lem, So I have been looking for funds Hi and Lo to purchase some rental, buy and hold properties and they popped up on my radar to.  I followed through on the preliminary application and this is my interpretation of what they do. 

They look at your credit score and past payment history and come up with a potential funding range.  In my case I received 2 ranges.  The first funding range was up to 75k with some debt pay down conditions. The 2nd was up to 50k without any conditions. 

 When I returned the initial call I found out some more details.  Essentially they have a network of banks they use.  They use your credit history to apply for 0% financing credit cards.  These cards are sent to you.  You use them (Stonebridge)  to leverage the full amount of the card balance and they xfer it into your account.  If you do this yourself, you would get hit with a 20% (or something very high) cash out fee.  In my case, it was an almost 9% fee or max of $5k.  I don't know if this is a fixed or variable fee. 

If I understand it correctly, to get the full 50k funding it could require multiple CC. Your APR could be 0% for up to 18 or 24 months. Overall, a 9% loan doesn't seem too awful. From what i can tell there are no other fees, points, pre-payment fees, etc.

So that's what I know.  Not sure if I am going to pull the trigger.  

Eric