How to get a business loan with bad personal credit? Wow. This comes up quite
a bit. And there is so much negative and wrong information out there. I'm going to
set the record straight because you can do this and I'm going to show you how. Let's
go.
First, I'm going to share with you some real information that's working right
now that you can get funding without fixing your credit, okay? I'm going to tell
you some ways that you can get this money, get that business loan that you
need without fixing the credit. I'm going to give you my secret backdoor way to get
funding if you're not in a rush. Again, if you don't need the money right now. And
if you stay to the end, I'm going to give you an exclusive resource to help. So,
what is bad credit? What do you mean by your bad credit, okay? Because I know
before we even get to what you can do, you got to kind of find out what you're
saying buy bad credit. What is your current credit score? What is your
current credit tradelines? So, before you ever get into getting the
business loan, we got to kind of know what you mean by a bad credit. What do
you have on your credit report that's bringing your score down? What do you
have on your credit report that's reporting negatively? Maybe we can get it
removed. Whatever the situation is, we got to know what you kind of got going on
and why you have bad credit. What is your bad credit. And so, I'm going to
give you a quick resource where you can pull your own credit for free. It's called
myfico.com. There's a link below with my referral link where you can go ahead and
pull your own personal credit for free and pull your own credit report and
start looking and seeing what's up there. This is the first step. Before you ever
want to go get business loans, I need you to know what's on your personal credit.
What is bringing the score down? What is being defined as bad? What went negative?
Why is it bad? And we ought to know so that we can overcome that. So, that is
step one. We got to pull your credit and know what's there. Once we have found out
what your bad credit is, you have two options, okay? And this is easy and I'm
going to go through both of them. The first option is you can build business credit
from scratch, okay? You can start from scratch. To hell with your personal
credit. We're not going to fix it. We're not going to do anything. We're just going to build
business credit. Get the business credit where it's
strong enough and you don't need personal guarantees or your personal
credit, alright? I have a way to do that and I'm going to show you. Or the second
option is I can tell you how to get funding now with your bad credit score.
So again, if you did step one and provide it your credit score is not below like
520. You know you getting a 545-60 which
are terrible credit scores, by the way, I can get you funded. So, there are plenty
of ways because there's something called subprime lending, okay? And that is for
people that actually have bad credit. There are lenders out there who know the
risk of lending to people with bad credit. They are willing to accept that
risk and still lend those people money. So, that's what you could do. And I'll
tell you a whole host of lenders and banks and investors that are willing to
do that. But you got to decide: Are you one going to build this thing from scratch
and forget about the personal credit? Or do you want to go ahead with your bad
credit and say, "Alright I'm going for it, I'm going to get me some some credit even
though my personal credit score is bad"? Either way, I can show you how. I'm going to
tell you about the second option. Now, because that's the fast way, okay? That is
the completely fast way. Just leave the crappy credit how it is and get that
funding. Let's talk about that. Okay. So, let's talk about the fast way, alright?
You want money now. You're not going to fix that personal credit, we're just going to
leave it alone. Let's talk about who's lending money to businesses where the
business owner has bad credit, has personal bad credit. And there are
tons, okay? So, what you have to have though before you actually go to them,
and again, these are lenders like PayPal Square, Kabbage, Blue Vine. Like, I can
give you a whole list. And there's a ton that will do something called advances
where they will give you $10,000 especially even to like
startups. So, even if you've had your business, you know, maybe only a year or
less than a year. You probably are not going to $100,000 but
I can easily tell you how to get $10,000 which really goes a
very long way especially if you're doing some of the stuff that I'm telling you
to do. Again, not fixing that credit score at all. Just going to go with getting
accounts with PayPal. Get a business account with PayPal. Get a business
account with Square. Get a business account with Kabbage. Get a business
account with those 3 companies. Those are 3 companies right now
that I know for a fact. I literally have emails coming in all the time from you
guys of different amounts that they have loaned to fairly new businesses where
the personal credit of the owner was bad. Because they're going to look at something
different. They're going to look at revenue. They're going to look at what the deposits
were one your bank statements. So, in order to pull this off, you're going to
need 3 months worth of business checking account statements. Okay? So,
unfortunately, if you do not have a business checking account, this is
probably not going to work for you. However, if you do not have a business
checking account, I actually have a video where I tell you how to get a business a
checking account even if you have bad credit. So, if you don't have a business
checking account, let's get one. Even with bad credit. So, the thing that they're
going to be looking at are the deposits. How much money are you depositing into
that business checking account each month? Is it 3,000? Is it
4,000? Is at 5,000? Now, again, there's some pretty slick ways that we
can do this especially if you're still working and you can start sending some
invoices and doing some things. You know... Going to tell you to do
anything illegal. But there are some very savvy ways where
you can start showing income and revenue to your business on your bank statements.
And then these companies will just look at the last 3 months of the deposit
and they will lend to you based on that. I literally have students that have
gotten... Again, startups $10,000 is pretty much pretty easy especially with PayPal.
They are really out there lending money to people with lower credit scores and
to businesses where the owner has a lower personal credit score. And
providing that funding and that extra help for you. Same thing with Square.
Square is actually a little bit harder than PayPal from our experience.
We're seeing people get the PayPal before they get the Square. And then
right after that Square and Kabbage are pretty much in line. And so, they are
loaning money. Again, giving out lines of credit giving out business loans. Giving
out credit cards. Things again that you can use in your business's name. Okay. So,
those are those lenders. Now, what if you don't want to do that or you don't have
a checking account? Let's talk about building credit from scratch. This is
pretty easy too. You just go ahead and make sure, again, you're still going
need a business name, you're still going to need EIN number and things like that.
But what you're going to have to do is build your business credit from scratch.
Again, pretty easy to do. I have a whole video please watch that entire video. I
will not make this video you know 30 minutes explaining to you how to do that.
I have a whole separate video about that. But it's very easy to build your
business credit from scratch and you will not have to have personal
guarantees if you do it this way. Yes, this is a little bit slower. This is
going to take you probably 6 months minimum to start getting some of those
numbers as where if you just go ahead and start doing some of those things,
3 months and you might have some money. But if you want to build
business credit from scratch. You absolutely can and you can get it where
they do not have to do any personal guarantees so you can't keep your same
personal bad credit if you want to. Alright. So, if you're needing help with any
of those steps, if you're needing help with either getting some of
that subprime stuff or if you're needing help getting that business credit
established and you're kind of struggling with where to start from
scratch, I'll give you as a resource. Again you can watch that whole video and
I'll teach you or you can actually reach out to my team. The phone number is 888-479-4542
again, 888-579-4542.
Reach out to one of my credit specialists and we
can help point you in the right direction. We can help answer some
questions. We can help you if you need to. But again, please have some of those
things established. We have people that can help you. But this is just a resource
that I want to give you for watching this video for being a loyal subscriber
to my channel. And I just want to make sure that I'm we're helping in every way
that we can. So, if you need that help, do not feel shy. Go ahead and dial that
number. We're here waiting for you. Alright guys, please make sure you are
clicking that subscribe button. Make sure you like this video. Please share this
video. This is a question that we get so much. Please take a opportunity and share
this video, share it with your friends. Share with your parents. Share it with
people that you know this is so important. So, many people that have
bad credit. And this money is available for you, guys. There's tons of money
available for businesses even if you have bad credit. So, please don't
think that you are doomed. That is negative as heck. And I know it is not
true. I literally have people, too. I had bad credit, okay?
I have not always been the person standing in front of you. I literally had
crappy credit and I was able to do some of these things. So, you can do it too.