Business Line of Credit
The cornerstone to our process is excellent personal credit. Banks
understand that it requires many years of managing payments and creating great
financial habits in order to develop an exceptional credit rating. Banks will assume that
the person within the business that is qualifying for the credit lines will use those same
proven habits to manage the company’s finances. Therefore, banks are willing, in
essence, to allow such an individual to “co-sign” for lines of credit on the company’s
behalf with the newly established credit only reporting in the company’s name and not
on the personal credit file of the guarantor.
This credit requirement, however, acts as a double edged sword. It is great credit that
allows us to continually achieve such profound results, but alternatively, not having
pristine credit is also the main reason we are unable to assist many interested
entrepreneurs. But keep in mind, it is not always the “business owner” themselves that
must qualify for the credit lines; it can be any partner, family member or friend
associated with the business willing to allow the company to use their credit as a
valuable asset for working capital acquisition.
When considering Our program, please keep in mind our minimum credit
criteria are as follows:
• MINIMUM 720 FICO – However often times with a few minor adjustments we
can, in just a few days, raise a client’s score 30 - 50 points!
• No more than one 30 day late on any account in the past two years.
• No open collection accounts – We have an extremely high success rate of
removing closed collection accounts, however, any open collections must be paid
or successfully negotiated upon entering our program.
• No Bankruptcies still reporting on the credit file – BK’s that have seasoned and
no longer report are fine.
• Relatively low usage on existing revolving accounts – As a rule of thumb 50%
usage or less will create the best results.
• Minimum of one open revolving account with a limit of $5k or more established
for at least 3 years.
• No open liens or judgments.
• Low recent credit inquiry activity