Business Owner Details

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.

 

 

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 

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