Get a business credit line even in uncertain times.
Business credit lines are available even in uncertain times learn all about a ton
of business credit lines you can get now. There are funding opportunities out there,
even now but you will have to act quickly funds aren't unlimited strike while the iron is hot.
Conditions are changing on the fly. Many states have already closed restaurants.
Others are limiting gatherings. Stores are having trouble keeping stock on the shelves. Customers
and prospects are nervous. Let's look at interest rates and opportunity. Interest rates are at an
all-time low, there has never been a better time to borrow. Banks are still lending you can still
get money within 24 hours such low rates means business owners can get money at very cheap rates.
It's important to act now it is tempting to want to hunker down and wait things out, however that
would be a mistake right now. Cash is not an infinite supply instead you need to act like a
seasonal business. What do seasonal businesses do. Seasonal businesses experience peaks and valleys
and funding all the time and they use credit in order to get past the tougher times. So a business
which sells ski equipment might stay afloat over the summer with credit. It's time you did
the same now is an excellent opportunity to do just. That let's look at what we'll cover today.
14 different credit line options you can get now how to get credit lines with no credit check
how to get credit lines as a startup how to get 0% credit lines how to get approved for
up to $250,000 in credit lines how to access all credit lines in one place.
This webinar is for you if you want a credit line now and think you may not qualify. You're looking
for money to grow your business you've been denied financing or credit or think you will be.
You want the easiest and fastest way to get capital, you want the most money at the best
terms to start or grow. You have credit issues or a startup or are in a high risk industry.
Check out today's host and guest guru Ty Crandall is the author of
business credit decoded. Featured in Entrepreneur, Inc, and forbes.
Let's find out about Credit Suite, we have helped over 40 000 business owners build corporate credit.
We were ranked one of the best entrepreneurial companies in America by entrepreneur in 2018.
We were 1091 on the Inc 5000 in 2019, we are A+ rated with the BBB without being accredited
we've got over 300 positive online reviews. Check out hundreds of actual results and
video testimonials online, we've been featured on hundreds of radio shows tv and podcasts.
Check out these terrific bonuses for staying to the end of this webinar you'll receive a playback
of this event priceless. 30 days of free business credit monitoring of your experian business credit
report a value of $49. 30 days of free business credit reporting of your Dun & Bradstreet
business credit report, a value of $149 and a no-cost business credit consultation with
a business credit expert to review your report with next steps value $149.
But what's a credit line it's an agreement between a financial institution or a private
investor establishing a maximum loan balance a borrower can access. A borrower can access funds
from their line of credit anytime, long as they don't exceed the maximum set in the agreement
unlike with SBA loans money does not have to be used for a pre-specified purchase it's like a
credit card without the plastic. Check out business credit lines they have many unique advantages
including flexibility. You only pay interest on what you use credit lines can be reused they are
the most requested loan type in the business world yet many are also tough to qualify for, requiring
good credit time and business and financials. But there are other credit cards and lines
that few know about available for startups bad credit even if you have no financials.
Take a look at the 3 C's Capital Acquisition Formula. Lenders look at
one of three things for loan approval cash flow collateral or credit and the more of these c's
you have the more funding options are available let's look at the credit lines you can get now
but you will have to act fast markets tighten up there is a limited window to access money. Lenders
are already asking and looking at weekly financial statements instead of monthly this is because once
revenues start to fall the business owner loses the ability to get the money that they need.
Check out an AI credit line. Artificial Intelligence now makes it easy to get credit lines,
the AI does a scan of your income docs such as your bank statement it renders near immediate
approval decisions, so funding happens within 24 hours. Get approvals of up to $150,000
you must be in business six months or more approvals are based on revenue.
they want to know how much do you have and how well do you manage your bank account.
Consider inventory financing use existing inventory as collateral for business financing,
you'll need inventory valued at five hundred thousand dollars or more you can get approved
for a line of credit for 50% of inventory value. Rates are usually 5 to
15% depending on the type of inventory you can get funding within three weeks or less.
Check out a revenue credit lending line some lenders now offer credit lines instead of
straight advances the lender will often approve you for both a loan and then an extra credit
line of about $20,000. When you apply upon approval you are offered the credit
line if you qualify these are a little harder to qualify for than just the cash advances, you might
need better credit or a compensating factor. The funds must be used to improve the business. They
want 20% profit margins for approval they often want to see tax returns unlike regular
advances where all they want is a bank statement. It's a great way to get fast and easy money you
can get approval with one year or more time in business even with a 500 FICO. This is about the
only type of unsecured financing not requiring good personal or business credit for approval.
Take a look at accounts receivable credit line you will need $100,000 in revenue.
The lender conducts an automated review of bank statements and or accounting software, like
QuickBooks they're looking for account receivables and responsible cash management on your part.
You can get to $100,000 rates are .5 to point .7% per week
outstanding, payment terms are twelve to twenty four weeks this is an actual real working capital
credit line. Typical initial approvals are under $50,000 to get up to
$100,000 they typically want to see two years of tax returns as well.
Take a look at private lines of credit, these are offered by private investors, and are often for
$250,000, $500,000 even $1 million. Pay
an 8% rate you need 20% liquid capital and mid-600 credit scores.
You can use funds from other funding you must produce tax returns for the last couple of years.
Check out Peer-to-Peer P2P lines of credit here the funds are pulled together from
private investors it is easy to qualify for than with lenders, a 620 or better FICO is required
sources include Prosper, Lending Club Upstart and Street Shares some sources offer credit
lines including Patriot Express from Street Shares get to know unsecured alternative lines of credit
some alternative lenders now offer lines of credit for $50 - $150k
they usually only want tax returns but if you want over a hundred thousand dollars they need your P&L
and balance sheet the rates are usually 7 to 10% the approval amount is
usually, 10% of annual sales per tax returns you must have a 700 or better score with Experian
consider high-limit credit lines some private investors and lenders also offer high-limit
credit lines you can get possible limits of $50,000 to $250,000
you must have a 720 or better FICO with no derogatory credit. You must have
good business tax returns for two to three years showing increasing profits some sources require
collateral but most don't a personal guarantee is required you need full documentation this means
tax returns P&L's balance sheets and bank statements for both personal and business
some of these are guaranteed by the SBA how about securities lines of credit you
can use stocks and bonds as collateral to get a credit line personal credit and cash flow
don't matter borrow as much as 90% of the value of your stocks rates are as low
as 5% you will still earn interest on stocks you can even use stocks from a guarantor
check out a bonus real estate line of credit it's similar to a HELOC for personal funding using your
home you can use the equity in your home or the equity in other properties that you own
secured and unsecured are available it's great for buying and flipping homes
18 to 24-month terms are available 6 month terms are available for fix and flips
you can use it for purchase or refinance a 650 or better FICO is typically required
get to know this bonus startup credit line, Wells Fargo offers a credit line for startups named
small business advantage there are no tax returns required for approval but a 680 or better FICO
is required get $5,000 to $50,000 credit lines a Wells Fargo bank account is required
take a look at a real bonus business credit a company can build business credit to get capital
using that business credit you can get high limit revolving credit cards the types of credit
obtained include retail, fleet, and cash there are no collateral cash flow or credit requirements
it makes you more fundable there's no credit check or personal guarantee it's fast to obtain
there are other financing options here are some options that require no collateral, cash flow or
good credit Business Credit, Grants, Crowdfunding Angel Investing and Venture Capital here's how
Credit Suite can help you will get access to every legitimate funding program in one place
you pay us no fees ever you can use our loan volume to get lower rates and fees
use our business blueprint to graduate to SBA loans you will never look for funding again
improve your fundability build business credit for your EIN that's not linked to your social security
number and you can access all legitimate loans and credit lines in one place remember your bonuses
they are a playback of this event priceless 30 days of free business credit monitoring of your
Experian business credit report value $49 30 days of free business credit monitoring of your Dun
&Bradstreet business credit report value $149 and a no-cost business credit consultation with
a business credit expert to review your report with next steps value $149
let's recap times are changing but there are a ton of terrific financing options out there and there
is considerable bailout money out there right now but act fast to get cash Credit Suite can help
contact us today to learn more about how business funding can still be yours