Below are Frequently Asked Questions and how Sure Sports Answers them

  • What if the borrower gets hurt?
    • The borrower has adequate personal resources to retire the proposed loan 
  • How do we actually recoup loan payments?  
    • Direct deposit of the borrower’s salary will be sent directly from the (team) to the bank
    • The bank will auto debit the account on the agreed upon payment dates which will coincide with the dates that the borrower receives his salary
  • What if the player is kicked out of the league or incarcerated? 
    • A separate dishonor and disgrace policy, underwritten by Lloyds of London, is assigned to the lender for the amount of the loan
    • The policy covers contract termination for any egregious act against the team, the league, or society in general
  • What if the player redirects his direct deposit?  
    • The loan documents will express that redirection, or discontinuation of direct deposit is an event of default
    • The loan documents include a waiver of jury for disputes or events of default as allowable by state and federal law
    • The loan documents provide for the player’s consent to wage garnishment as an acceptable provision to cure default
  • What if the player runs into additional financial problems (over-leverages) during the term loan and becomes insolvent?
    • The bank has first right of refusal on all additional debt and failure to do so is an event of default
    • By the lender maintaining direct deposit and sweeping out the applicable loan payments on the day of payroll, the lender is repaid immediately, leaving the player with the residual to deal with his subsequent obligations, habits, hobbies, etc. 
    • The lender also requires that a credit report be pulled quarterly, so any additional leverage, which is an event of default, allows the lender to serve the team directly and be ahead of all non-federal judgments
    • The loan documents will state that the borrower is not allowed to take on any additional  unsecured debt
    • Any secured debt over (amount) will need to be approved by the lender bank