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We do Business in Accordance
With the Fair Housing Act
It is illegal to
discriminate against any person
because of race, color,
religion, sex, handicap,
familial status (having one or
more children), or national
origin. |
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Business Owner Details
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What is a qualifying
business?
A qualifying business is a US registered C Corp, LLC or S Corp that
was established two or more years ago as evidenced by the Secretary of
State in the state of incorporation.
What
if my business was established less than two years ago, can I still be
successful?
Yes
but not as successful as if you have been in business for two or more
years. However, if your credit score is excellent and your business has
a high income, then that will greatly improve your chances despite your
shorter length of time in business. Our
Business Credit Profile Establishment service also takes good care
of this problem.
Does a real estate business qualify? Not always. It depends on
the credit profile of the applicant (the business owner) and if the real
estate business in involved in only speculative activities or not. At
this time, real estate and mortgage broking businesses are only favored
by a few lenders. Real estate investors who who apply for unsecured
lines of credit for other types of business that they own are very much
more successful. Remember that there is no restriction on how the
successful business uses the funds.
How much income
should my business be achieving in order to qualify?
Any
reasonable amount of business income will qualify for a line of credit
but the limits on the lines are usually calculated as a % of income.
Therefore a business with a low income will only qualify for small lines
of credit. Most lenders will approve a limit of between 20% to 30% of
your annual business income. This is why we apply to more than one
lender so that collectively, the lines that you qualify for will amount
to a significant amount / limit.
Do I need to have an
established business credit profile in order to be successful?
An established business credit profile is not a pre requisite for
success when applying for business credit lines, how ever if
established, it will help a lot. For
business owners who' s businesses have not yet established a business
credit profile and want to improve their business lending capabilities
in order to qualify for larger unsecured business lines of credit.
What is the
highest credit limit that my business will qualify for if I make a
stated application?
Stated
applicants who state reasonable business income, have been in business
for at least two years, have high credit scores and who’s
credit reports do not reflect slow payment histories, judgments,
repossessions or bankruptcies, are often successful in obtaining
unsecured lines of credit of as much as $250 000.
What is the
highest credit limit that I can get if I make a full doc
application?
Full
doc applicants who can show reasonable business income, have been in
business for at least two years, have high credit scores and who’s
credit reports do not reflect slow payment histories, judgments,
repossessions or bankruptcies, are often successful in obtaining
unsecured lines of credit of as much as $250 000 - $1 000 000.
What FICO credit
score do I need to qualify?
Our
perfect applicant and the one that usually gets the most lines and
highest credit limits is one with a FICO credit score of 700 or higher.
I have more questions.
See more
questions and answers about the Unsecured Business lines of credit
program.
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Request more
information about the properties on this list.
To get started
with our 100% Combo Finance
Program,
first
follow this link to apply for your unsecured business lines of credit.
(We do not charge application fees and you will receive a no obligation free
consultation.)
To apply for the commercial loan
portion of the program only,
request a loan
consultant to contact you
Unsecured Business Lines
Of Credit - Q&A for real estate investors.
Commercial Mortgage Loan -
Q&A for real estate investors.
Business Speed Loan - Q&A for real estate
investors.
Call us on Tel: 813-966-1674
Home Page.
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