Would you like to get a business line of credit to grow your business? Well I'm about to show you
10 types of business lines of credit that you can get right now. I'm going to show you how to
get a business line of credit with no income documentation, so you can get approved even
if you don't have cash flow. I'm going to show you how to get a business line of credit even
if you have credit issues or even if you're a startup business now, I'm going to talk to
you about how to get a business line of credit even if you don't have collateral even if you
tried before to apply and been denied, we're going to take a look at SBA lines of credit
and actually talk about what it takes to get low interest rates with great terms through multiple
different options, and I'm going to talk to you about all types of business lines of credit
that most entrepreneurs know nothing about that you may qualify for right now. And along the way
I'm going to sprinkle in some of my best tips to get the most money at the best terms, and
if you stick around to the end I'm going to get you access to our funding vault
of 27 killer ways to get money for your business, we've got a lot to cover so let's dive in.
So for you to get a business line of credit you first need to understand something I call the
three 3C's cash acquisition formula and here's how it works.There's 3 main things that lenders or
credit issuers look at in order to determine if you should qualify for a loan or line of credit.
These 3 things are cash flow, credit, and collateral. Now the beautiful thing about this
formula is is that most loans like SBA require that you have all 3, good personal credit
established cash flow and collateral, but there's a lot of alternative lending options available for
fintech lenders and other lending sources where you don't need all 3 you can get approved
even if you only have one of these strengths, and the better news is is that even if you have
none of the strenghts, I'm still going to talk about options during this video to actually
teach you how to still get a business line of credit if you don't have any of the 3C's. So
let's start with personal credit, what happens if you have good personal credit what kinds of
credit lines are available for you. Let's dive in, credit line hybrid is the top program if you have
good personal credit to be able to get a business line of credit, don't have good credit don't worry
I'm going to show you another way to get business line of credit from the credit line hybrid program
using somebody else's credit in just a moment. So the credit line hybrid you're able to get approved
for as much as $150,000 in financing now you can get approved with 0% rates for up to 18
months, and you could pull the cash out of these lines of credit. So that means you can pull cash
out at 0% it's never been done before on any other program than credit line hybrid. The
best part is you can get approved as a startup, you can get approved no doc no tax returns are needed
you don't even need any collateral to get approved. All you need is a well-established credit profile
and a 680 FICO score or higher, don't have that? That's okay you can also use a personal guarantor to
get approved instead. So let's say that I have a friend a family member a potential investor
that's actually willing to let me use their credit to qualify well I can use their credit
to qualify be able to get approved no matter how bad my credit may be and the best part is, is that
a lot of the lines of credit you get through the credit line hybrid program actually report to the
business credit reporting agencies, so if you even if you use somebody else's credit you're
able to still build your own business credit a lot of these lines of credit don't show on their
own personal credit and only time that they get hurt is if you were to default on that line of
credit, so credit line hybrid is the best way to get the most amount of money for your business
especially if you're a startup, especially if you want no documentation financing. So what if you
don't have good personal credit or know someone around you that does, well this is when you want to
focus on cash flow as a strength and there's a lot of lines of credit that are available for you just
based on you managing your cash flow responsibly my favorite two come from FundBox and BlueVine
and you can get approved at creditsuite.com/fundbox f-u-n-d-b-o-x
so with these lines of credit you can get approved for 100 or $150,000 in funding they're
not based on personal credit, so BlueVine has like a 620 minimum FICO score requirement while
Fundbox has no minimum FICO score requirement. They'll give you 6 to 12 months to pay back the
money, and you'll pay as little as a half a percent interest for every week the money's outstanding, so
if you're borrowing the money for a longer period of time it can be a little bit more expensive but
if you're borrowing the money for a shorter period of time it can be very very very cheap affordable
money. Now what I like about both of these options is they use artificial intelligence to actually
underwrite your application. So what this means is you don't have to supply all that burdensome
documentation you do with so many other business lines of credit with these, they plug directly
into your bank account they do the underwriting there and depending on how much you're
processing every month through your bank account, and how you manage the bank account will
determine how much you actually get approved for, another business line of credit that's based on your
cash flow is called a merchant line of credit, this is one of my favorite business lines of credit because
it's so easy to get approved, it's not based on personal credit quality, you can get approved for as
much as $100,000 based on whatever you're processing through your merchant accounts on a
monthly basis. So if you're processing 100,000 a month now in your merchant accounts well you can
get approved for as much as $100,000 with this line of credit. The other nice thing is it reports to
Experian commercial and it requires no personal guarantee all you need to do to get approved is
have consistent merchant account transactions and if you meet that basic requirement there's a
good chance you can get approved. Another one that's based on cash flow is from Amazon, I
shouldn't say one because Amazon actually has multiple options for amazon sellers that are
available in your Amazon central account. First of one is a line of credit through Marcus another is a
program through Bank of America, and the third is a corporate credit card available from Amazon that
requires no personal guarantee and no personal credit check. So if you are selling on Amazon you
want to look in Amazon seller central because these have three great funding options
for you including a great line of credit a great credit card and also a loan as well, other business
lines of credit are available to you just based on collateral that you or someone around you may
have. So the most popular of which are 401k financing and securities financing. With 401k
financing you can actually borrow as much as a 100% of the value of your 401k if your 401k is worth
$25,000 or more, as a matter of fact, this is one of the most popular programs for partners that are
actually going in and starting business together. There's absolutely no tax penalties because it's
based on IRS proven strategies and you can get a low interest 5% business line of credit
leveraging your 401k as collateral, maybe you don't have a 401k or IRA, but you have stocks or bonds
well that opens up securities financing, and with securities financing you can get a 5%
interest credit line borrowing against your stocks and bonds, now the best part is you can still earn
interest on the stocks and bonds, so you're still earning interest like you normally do but you're
leveraging those as collateral to get a low interest rate business line of credit, and you can
borrow as much as 90% of the value of your stocks and bonds. Keep in mind even if you don't
have 401k's, IRA stocks or bonds you can still tap into somebody else's and use theirs as collateral
to get your business financing. Now another one that's based on your collateral is actually
inventory financing. And inventory financing you can get a line of credit for as much as
50% of the value of your inventory, look a lot of business owners put a lot of their money into
inventory then they don't have the cash on hand when they need it, well with this program you're
actually able to leverage your credit or leverage your actual inventory to get a credit line or you
can use a credit line to get the inventory that you need, and then the collateral is the inventory
itself. Again you can borrow as much as 50% of the value of that inventory as long as you have a half
a million dollars in inventory or more. Now if you do happen to have good personal credit collateral
and cash flow that's when you want to apply and get an SBA CAPline. SBA CAPline is one of their 7a
programs that you can use for multiple different purposes, there's actually 4 different types of
CAPlines you can get one for seasonal businesses, one for contractors ,and another for builders, and
another one that's a working capital CAPline. So working capital CAPline basically you can
get money up to 5 million dollars with a very low-interest rate and you can use this like for
most general purposes that you may need in a business, whether it be for cash flow whether
it be for marketing or whether it be for expansion. Now again you need to have good personal credit
collateral and cash flow but this will give you one of the highest limit lowest interest
rate credit lines you can qualify when it comes to business lines of credit. There you have it there's
over 10 types of business lines of credit you can get for your business right now even if you
can't qualify for other kinds of financing, and if you don't have good credit if you don't have cash
flow don't have car don't have any of those things that's when you want to build your business credit.
So to grab the step-by-step process of building your business credit along with 26 other killer
ways to get money for your business make sure you grab our funding vault at
creditsuite.com/27ways that's creditsuite.com/the number 27 the word ways and
you're entitled to a free consultation with us as well. That will help you get your business
credit reports with Dun & Bradstreet, Equifax and Experian at no cost they'll charge you
250 bucks directly for, we get them for you for free we give you tips and tactics to build
your business credit as well as qualifying you for all the loans or credit lines you can get now, and
doing a fundability assessment where we can determine how fundable your business is now
and fix the things that will even make you more fundable. So you can grab your free consultation at
creditsuite.com/consult or by giving us a call us a call at 877-600-2487 that's 877-600-2487
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