How to get approved for a big loan? Are you ready to do something big but you don't have big money
to do it? Well, I'm going to tell you exactly how you can get approved for a very large loan without
having to do so much to get it. I'm going to tell you exactly how to do it. Let's go.
I'm going to share with you a detailed step-by-step tutorial on how to get
approved for loans. I'm going to guide you on the best places to go depending
on your particular situation. And last but not least, I'm going to share with you my biggest
secrets on how me and my students get millions of dollars in funding in less than a year. So,
let's talk about the loan process. When you are applying for a loan, in most cases, you are going
to go to a bank or credit union and you're going to apply for a loan. We have different types of
loans. We have personal loans which are considered unsecured, uncollateralized loans. Meaning,
like a car loan, there's a car that collateralized the loan. So, if you don't pay it, they will take
the car back and they have some collateral. Or a house. They will loan you a mortgage on a house
and the house is the collateral. Meaning, if you don't pay, they will foreclose and take the house
back and they have something that they are lending on to secure your loan. But then there are loans
where there is no collateral or securitization whatsoever like a personal loan. You go to a bank,
you sign your name, and they put the money in your account. It's just that simple. Those are personal
loans. We also have credit cards. You literally can take your credit card. And if you want,
most credit cards will have what's called a cash advance. Meaning, you can stick that card
into an atm and pull out cash instead of actually buying an item. So, there are many different ways
and many different types of loans that you can get. We also have what's called lines of credit.
And again, it works the same way. Some lines of credit are collateralized or securitized against
something like a home equity line of credit which is securitized against a home. Again,
just like a mortgage. Or you can do a line of credit that is completely unsecure. Meaning,
you can pay it, use it just like a credit card and it will replenish as you use it. And again,
it can be collateralized or uncollateralized. Now, here's the thing that you need to know: When you
are going for a loan of any sort, collateral does matter. Loans that are collateralized
are usually considered lower risk and easier to get. Meaning, you can have lower credit
scores in order to get it. Loans that require no collateral whatsoever are usually considered
high risk and will require a higher credit score. So, let's get into how you can get a big loan. So,
again, when you go to a bank or a credit union to apply for a loan, they're going to have you
fill out an application. Meaning, you have to apply. They're going to ask you for your name,
your first and last name, your date of birth, your social security number because they are going to
pull your credit. Many of you guys are familiar with credit reports. You know that there's 3
bureaus. If you don't know about credit, I have a whole video where I teach you on that but in most
cases, they're going to look at your credit and this is going to be the biggest determining factor
on loans that are not securitized by anything. So, again, if you're going for a car loan,
you may be able to have a lower credit score because you have the car that's collateral for
the loan. But if you're going for a personal loan where there's no collateral whatsoever,
they're going to look at your credit report and they're going to base their entire decision mostly
on what's on that credit report and how well you've paid other people. Because really,
that's all they have to base their decision on. They'll also look at things like your income,
your employment, how stable it is how long you've worked at your job, what your income is,
how much money you make per month, and the stability of that income. Do you work year-round?
Or do you only work part-time? Do you only work certain seasonally, certain months out of the
year? All of this will favor very heavily as to whether or not they will lend you money for a loan
because this is the process. Lenders are looking to see what your ability to repay the loan is. So,
when you are going to get a loan, you want to present the best picture possible and show them
that you can repay a loan. Let me tell you some easy ways to do that. So, like I said,
when it comes to personal credit, there are 3 credit bureaus. Let me quickly explain because
this is a very important piece to getting a loan. Knowing how to look at your credit. So,
in personal credit, we have three different bureaus. We have Equifax, we have Experian, and we
have Transunion. Those 3 credit bureaus will give you a score. They'll look at how well you've paid
people, what type of accounts you have. You know, all of the different trade lines, how long you've
had credit. And all of these different factors will go into what your credit score is. The
higher the credit score, meaning, a credit score over 720, the more things you will be able to get
approved for. If your credit score is below 640 or 640 or below, you are considered having poor
credit and you won't be able to get many unsecured loans. But that is what most people fall into
and this is where most people make the biggest mistakes. So, let me tell you a secret that most
people are not even talking about. Let's forget about personal credit altogether. Because Noelle
is a millionaire and she doesn't even care about personal credit. I'm teaching you this because
you wanted to know. But let me tell you the real secret sauce --business credit. Business credit
works very similar to personal credit except it is just for your business. You literally can set up a
business. Again, LLC or EIN number, professional phone number, professional website and get a
business profile set up in merely a couple of days, okay? Literally in a couple of days. And
you can start building business credit faster than you would personal credit. Because businesses,
they will lend to businesses much higher than they will lend to you personally. As a business
for example, you may get a Capital One card in the business's name and you'll get approved for
like 5 or 10 thousand dollars. Whereas with the personal Capital One card, you'll only maybe get
$500 or $1,000. Because businesses are treated differently and they're looking for something
totally different. In the business credit world, we have 3 bureaus. Same way. You have Equifax
business, you have Experian business. But more importantly, you have Dun and Bradstreet. Dun
and Bradstreet is the number one business credit reporting agency. They are like the juggernaut of
business credit. They've been around the longest and they are the credit reporting agency that you
want to make sure you have a business credit profile on. Many companies will lend you cars,
credit cards, apartments. You know, like that, (I own tons of these apartments), the condos
in your business's name just by looking at your Dun and Bradstreet credit report. Additionally,
again, instead of looking at your trade lines and how much money you spend,
business credit reports and the scoring system is much different. They will look at how well you pay
your bills back. So, for example on the personal credit world, if you had a credit card, it was a
thousand dollars and you charged $1,000 on it, your credit score is going to tank. If you have
$1,000 on a credit card and you charge $1,000, I promise you, your credit score is going to drop
because you're using most of what the limit on that credit card is. But on the business credit
side, if you did that same thing and you use your Chase Business Inc credit card or your Capital One
Spark card or your American Express business card and you charge it all the way up to the limit,
they do not lower your credit score, okay? They don't lower your personal credit score because
it's not on there. And your business credit score is not usually lowered. It's usually
lowered if you miss payments or if you pay them late. In a business credit world, they want
to make sure that you're able to maintain the payments that you're able to pay the debt. So,
what they are looking for is your debt management not your debt ratio which is what they're looking
for on the personal credit side. So, learning those differences is going to open a whole new
world for you. Now let me tell you how you get to the millions. With business credit, you literally
can get approved for more money than you ever would with the personal credit. I've literally
had credit cards for Capital One (using that as an example) and they gave me a 6,000-dollar credit
line on my personal card and then immediately gave me $24,000 on my business, in my business's name.
Again, right off the gate. Same credit score, same person, just me. But one was in my business's name
and one was in my personal name. And this is how you can unlock millions of dollars. Because with
business credit, they want to lend you higher amounts because businesses need more money.
Additionally, here's the secret: You literally can call those credit cards every 6 months and
they will increase the credit limits. For example, American Express has this policy when you call and
ask to have it increase, they usually increase it by 3 times the original amount. Meaning,
if they gave you a credit line of $10,000, you make the payments on time for 6 months,
you call American Express up (and again this is on the business credit side) and you ask for a limit,
tell them you're purchasing something, one of the... Well, one secret, you have to make a big
payment, okay? So, you make 6 payments and make one big payment and then you call them and ask
for an increase. And they will take it 3 times. So, if you had 10,000, they will automatically
increase it to 30,000 right on that first time. Additionally, you can do this every 6
months. I literally have credit cards with over $100,000 on the limit, okay? Just by calling them
back every 6 months and asking for an increase. It's really just that simple. And this is how i
and my students have millions of dollars in our businesses name in less than a year. So, I have
created an entire training just for you. And the best thing about it is this training is absolutely
free. I will teach you my exact strategy for investing in real estate without losing money,
without spending very much money and telling you exactly how I did it from beginning to end. Check
that out at noellesfreetraining.com. Again, that's Noelle, (n-o-e-l-l-e-s) Noellesfreetraining.com.
Check it out. I just want to make sure that you have all of the resources, all of the tools,
and all of the knowledge that you need to be successful. This is Noelle. To your success.