The Alternative Loan Machine is an agency that monitors and verifies specialty loan broker companies and their programs.

Every company has a slightly different process but typically to get you higher amounts of funding on your personal credit profile the company will apply for multiple loans from multiple banks within the same period of time. This ensures that each bank views your credit report and makes a decision without being influenced by inquiries from other banks, meaning you will be approved for higher amounts and more banks. This is good because you can be denied simply by having too many inquiries.

Every company has a slightly different process but it is typically done in the following manner. The broker company will apply at multiple banks for business loans and lines of credit, with the total of all of these individual lines of credit adding up to your desired total funding amount. For example, if you are trying to receive a total of $250k in business funding, the broker company may apply to seven banks for $50K each. If five of the seven banks approve your loan request, you will receive your total desired amount of funding. When looking for higher amounts of funding they will put your business through two or more rounds, which consists of removing inquiries placed on your credit report from the previous round and reapplying in the same manner as before.

That will vary greatly depending on the company, their program, your credit profile, and how much funding you are looking for. View the programs' details.

With a bank, you go into the application process blind. The bank runs your credit; you are either approved or denied, and you have no idea why. Companies listed on The Alternative Loan Machine let you know the credit criteria you need to meet before you apply for your loan. This saves you time and energy, because if you do not meet the credit criteria you can use one of the credit enhancement companies listed on The Alternative Loan Machine to help you qualify for the loan.

The Alternative Loan Machine was built by people who were tired of dealing with companies that could not, or would not, get the job done. The founders of www.TheAlternativeLoanMachine.com decided to only allow a company to post an ad after they have gone through a strict verification process. This process includes obtaining all business information, two to four client references and proof of ability to perform services, as well as background checks on all company contacts. Once a company has been verified they are allowed post ads, which must also be verified with at least two forms of proof that the program works. If a program stops working or we start receiving complaints it is immediately removed from our system until it can be proven to work again.

The ALM Help Desk is here to guide you through The Alternative Loan Machine should you need it. ALM Help Reps have full knowledge of the companies and programs in the verified ads section and can answer any question you may have no matter how big or small. If you want to know how a specific program works, contact the Help Desk. If you are having trouble picking a program, contact the Help Desk. You will also receive your updates from the Help Desk once you have enrolled in a company’s program. This is done to keep company honest by monitoring all communications between broker companies and clients. The Help Desk is here to make your user experience as easy as possible and ALM Help Reps are always happy to assist you.

You have two ways to enroll:

1. Once you have chosen a broker company’s program from the verified ads section take note of the program code. Click the get started icon on bottom of the listing then fill in all information in the sign up section and hit submit. You will be notified of your acceptance into this company’s program within 24 to 48 hours and an application with instructions will be sent to you via email. Fill out and submit the online application and you are enrolled.

2. You can contact the ALM Help Desk via live chat or telephone. The Help Rep will ask you a couple of questions to verify that you qualify for your selected company’s program, as well as answer any questions that you may have about a company or its program. An application will be sent to you shortly thereafter. You may also call back and have the Help Rep walk you through the application if you would like.

No. Once you have submitted your information on the sign up page you will be sent an email with instructions and a link to your broker company’s online application.

It is very hard to walk into a bank and walk out with $100,000 in personal funding in today’s economy. It is much easier to walk into 5 banks and walk out with $20,000 from each. This is how these companies are able to get you higher amounts of funding. The broker company requests loans from multiple banks within the same time period to secure your total desired amount of funding.

No. The ALM is a monitoring agency. The main purpose of ALM is consumer safety, which is why we verify and monitor all programs before and while they are posted in the verified ads section.

ALM charges these verified companies a transaction fee whenever they charge a client a fee of any kind.

Our contact information is located on the Contact Us page.

There are three ways that ALM finds out about these types of specialty loan broker companies. There is a team that is dedicated to finding new programs and relaying this information to ALM’s Security Department for a full investigation. Next, we have users that have either been through a program or would like to go through a program and they either tell us about their experience or they ask to have the company investigated for their safety before enrollment. Lastly, the companies find us and ask to be verified. Every company recognizes that through The Alternative Loan Machine, thousands of potential borrowers can view their programs daily. ALM only accepts companies with a certain level of professionalism and service. They also realize that by meeting the criteria to be allowed to post in ALM’s verified ads section, they set themselves apart as one of the companies that delivers on its promises.

Fill out an application with all of the information regarding your company as well as the programs and products that you offer. You will also have to submit the contact information for two representatives of your company. Submit your application with any of your client agreements or contracts, as well as four forms of proof that your program is effective (i.e. before and after copies of a former client’s credit report or letters of approval from banks). You will be notified within 5-7 business days regarding the acceptance of your company and its programs into The ALM database.

ALM always communicates with the companies on your behalf. This is to ensure that companies are giving clients accurate information and continuing to deliver on its promises. You are kept as safe as possible and should anything need to happen, ALM will step in and hold these companies accountable. Should you have a question for the company prior to enrollment you may contact the ALM Help Desk and a representative will be able to answer any questions you may have about a particular company or its programs.

ALM Help Representatives can answer any question that you may have about all companies and their programs posted on The Alternative Loan Machine’s verified ads page. This is to better assist you in navigating the site and choosing a program that is right for you. ALM Help Reps can also assist you in using the features of the ALM system, as well as answer any lending or credit-related questions in general. Feel free to click the "Live Chat" button and ask a Help Rep just about anything.

No, The ALM is a monitoring agency that requires all companies to fill out a thorough application and researches every company and its members before they are allowed to post their ads in The Alternative Loan Machine’s verified ads section. Should a program or company stop being effective, we will remove them from our database until they are able to perform their service again. ALM makes sure you are as safe as possible without guaranteeing the performance of any broker company or its program.

ALM Help Representatives have access to all details of the programs that have been verified by ALM’s Security Department and can answer any question that you may have about a specific program. You may also ask about companies that you do not see on the site and ALM’s Security Department can verify them for you.

Rates vary from loan to loan and program to program. As the loans and lines of credit acquired are bank loans, rates are credit dependent.

There are usually no guarantees on loan size or amount, although some companies listed in the database do offer some type of guarantee. Read the program details or ask an ALM Help Rep if you are unsure about a company's guarantee or need further clarification. ALM does not back or support the claims made by any of the companies listed in the database. We are an objective third party, which gives consumers access to the services that they are looking for, while providing companies with access to qualified consumers.

You receive an inquiry anytime your credit is viewed by a company or qualified individual. Typically, each inquiry on your credit profile results in the decrease of your credit score by 2-5 points. Your credit report is usually pulled if you apply for a loan, credit card, line of credit, place of residence, bank account, etc. In some cases, it is difficult to receive a loan based on your personal credit profile if you have an excessive amount of credit inquiries on your report. In the "program details" section of each loan program, there will be details on the number of inquiries allowed on your credit report for approval.

A good credit score will be above 700. With a credit score above 700 you can qualify for nearly any program listed. You are more likely to be approved for a home loan, auto loan, credit cards, etc. with a good credit score. However, your credit score is not the only factor in qualifying for a loan. It is possible to have a good credit score, but have weak credit history. You will need both to ensure approval.

Good credit history typically means that you have at least 3 accounts that have been active for two or more years. Obviously, the more accounts you have and the longer you have those accounts in good standing, the better your credit history will be. These open accounts must be paid current with no history of late payments. Typically, if you have good credit history you will have a good credit score, but not vice versa.

It depends on the program chosen, as well as the type of account that the credit repair agent is working on. An open account may be made to not show up on your credit report for a couple of months while you are trying to secure funding. However, you will have to pay off the past due debt if you want the results to stay on your credit report. Most closed accounts can be erased by credit sweeping, including bankruptcies, tax liens, charge-offs, judgments, and foreclosures.

Depending on the extent of the work that you need done on your profile, it can take as little as 3 days but as long as 90 days. This will vary from program to program and depends on how much work needs to be done on your credit profile.

There is no way to know that for certain. You must do as much research as you can and be as safe as possible when choosing any Credit Restoration Company. With that said, you can be sure that these companies have passed ALM’s six-point verification and ALM’s has the resources to shut them down if need be. It is in each company’s best interest to keep doing good business. Some companies have guarantees on their work, while others do not. However, all companies have a refund policy.

In short, nothing. All credit profiles can be wiped completely clean which resets your credit profile. You will have no accounts or items on your report.

Yes, all a credit sweep does is make your credit profile look like you no longer have those accounts. The debt is still out there and you do still have to pay it. If a debt goes unpaid it may come back on your credit profile as a collection account. So, if you go through with credit repair make sure you pay off your debts.

A trade line is any account or credit line on a credit profile. For example, if you have a credit card that shows up on your credit report, that is a trade line. If you have an auto loan, that is also a trade line. A trade line is any account on your credit report.

Accounts that already have history add you as either the primary account holder or an authorized user, which adds all of the credit history from that account to your credit report. The company that you purchase the trade lines from will place your name on an account as either a primary account holder or an authorized user.

That will depend on how the person who stole your identity is using it. However, identity theft can severely damage a credit profile. Any negative items on your credit report, whether they are your fault or not, will hurt your ability to receive funding. A credit profile that has been damaged by identity theft can be fixed with credit repair prior to going through a loan process.

The broker fees usually come in the form of a front end fee, a back end fee, or a consulting fee. These fees are outlined in the program details of each company and are based on the amount of funding acquired for you through the company's program. Fees typically range from 10% to 25%, depending on the company and/or program that you choose.

Typically the back end fee is a one-time fee that must be paid within 72 business hours of you receiving funding. However, when receiving a series of loans you will have to pay the back end fee upon receiving each loan.

The loans typically have an APR of between 5% and 9%. Still, all bank loan rates are credit-dependent. Exact rates will be specified by the bank prior to funding.

No, the fees are set for each individual program.

The reason for this is that there are many different loan criteria to meet to qualify for a loan program. Although your credit score may meet the criteria of a certain program, upon viewing the details you may notice that you have too many inquiries on your credit report. Credit repair programs can sweep such items off of your report quickly, allowing you to meet all requirements and qualify for your desired program. Credit restoration can put you in a better position to be approved for funding.

No, this will interfere with the credit repair process. It is best to have your credit repaired then go through the loan process to ensure that everything goes as smooth as possible.