Thanks to my good friend Adeel we have access to an exemplary funding program. The Program Manager and Team have successfully funded hundreds of businesses since 2004. They have business relationships with lenders nationwide.
Their expertise is in small balance loans $50,000 to $150,000. The credit amounts and interest rates are determined by the strength of the personal credit of the applicant. The stronger the credit, the better the rates and the higher the line amounts. It’s as simple as that.
The processing office which is run by an attorney in LA will discuss directly with the client what they feel you will be approved for upon pre-approval. In these small loans most clients receive business credit cards. As the market strengthens credit lines will be offered based upon the type of business that you own and your credit and business qualifications.
They have access to MANY sources of business credit. These sources are national, regional, and local banks and private investors. Each lender has a slightly different appetite for certain deal types. They match you with the best source of funding.
Many applicants approach obtaining business credit improperly by shot gunning their application to multiple lenders producing multiple inquiries that drive the credit score down. Most lenders block new applications for two to six months. When you are serious you need to come to us and work exclusively with us. Banks are very cautious with respect to the number of inquiries on a file.
It doesn’t matter if your business has a credit score. Here’s what they evaluate:
1. Your Corp or LLC is two years old.
2. It is in good standing, current, and valid with the Secretary of State (SOS).
3. It has no past history of reinstatement from a previous owner (case by case)
5. It has a positive business credit history (if business credit is already in place).
6. It is registered properly within the state of incorporation and foreign qualified if necessary.
7. It has a necessary business address, phone etc. (case by case).
8. The officers/Owners/CFO are registered properly with the SOS online database.
If you have a Duns number kindly submit a copy of the Credit profile. This helps with underwriting.
Remember that in order to qualify you need to have a viable business. How can you qualify for business credit if there is no business and no income to pay the debt obligation?
In order to qualify you must have a 700+ FICO score AND an existing two year old corporation or LLC. This program has NO UPFRONT FEE. We ask our clients to do five things:
1. Go to www.myfico.com and run your credit.
This funding source has built their underwriting tools around this service.
2. Sign our fee agreement
3. Sign our mutual NCND.
4. Complete the attached application
5. For extra funding sources visit www.joetufo.com/powerfunding This will enable you to obtain funding through the featured source and obtain ADDITIONAL funding through a former Dun & Bradstreet manager.
If you cooperate they’ve been known to fund in 30 business days or less. The back end fee is 12%. If you are interested in this program send me an email to joe@joetufo.com or help@joetufo.com or call me at 925-691-8200 M-F 7AM to 5PM Pacific.
My time is at a premium. You may purchase consulting time at www.joetufo.com/consulting
As always we are here to serve you and those whom you choose to refer.
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One reply on “A Special Business Line of Credit Application. You Must Have a 700+ FICO Score to Qualify. $50,000 to $150,000”
Here’s the straight scoop on this program – ordinarily we charge a fully earned, non-refundable 1% business consultation fee, minimum $2,500. This program is an exception. There is NO UPFRONT FEE.
If you need consultation time you’ll need to go to http://www.joetufo.com/consulting and purchase a time block for learning more about this program. There are three additional documents available: an application, a fact sheet, and a Q&A. Write and I’ll send them.