Stop! Turn off your smart phone.
Quit tweeting and texting for the next 4 minutes. Grab a cup of java
Shut the door so there are no distractions. This is that important!
Because I’m about to reveal to you the greatest secret to getting a business loan for as much as $25,000, $50,000 or even $250,000 – even when the bank says “NO!” and even if you don’t have perfect credit.
I have to warn you though… Don’t pay attention to the credit card companies. Forget everything you’ve heard. You can actually hurt your chances of getting the small business loan you need if you follow their advice.
It’s true. Why? Because they’re more concerned about raking in record profit margins and reaping huge bonuses! They don’t care about your business or if you get a business loan.
Credit cards companies want you to keep piling up debt on your high-interest personal credit and hold you personally liable for your expenses.
Do you think they really care if it takes you 10, 20 or 30 years to pay it back? Or if lowering your spending limit for no good reason has affected your business? Or if your personal credit is destroyed while you try to build the business of your dreams?
Of course not. Not when it means more money for them! And let’s not leave out the banks. Business lending is at all-time lows. Think they’re interested in taking a risk, however small it may be?
The secret… How to get a Business Loan
But there’s a little known secret that most small and mid-size business owners don’t know about. Heck, even most credit card companies don’t advertise it. I didn’t even know about it and I’d been running businesses for years!
Accountants I’ve used for years weren’t aware of it. Lawyers who I’ve paid up to $700 an hour didn’t know about it. But I’m about to reveal it to you right now and it won’t cost you a penny…
I’m not going to make you read every word of this or make you jump through hoops to get the secret. I know you’re busy so I’m going to give it to you right now and then explain how to make this secret work for you.
Here it is: You can get a small business loan. Usually reserved for large corporations, there’s a 7-step process for small and mid-size business owners to get the business loan they need without a traditional personal guarantee.
Mystery solved! More about that in a moment…
Whether you’re looking for a start up business loan, have an existing business or if you’re buying a business or franchise, you can now access working capital.
Don’t have perfect personal credit? No problem.
It doesn’t even matter if you have less than perfect personal credit. You can still get business financing, whether that’s a merchant cash advance, or business loans with bad credit.
That’s right. You no longer have to rely on your personal credit to finance your business. You can rebuild your personal credit and create a business credit profile to get the business loan you need to grow your business.
Imagine not relying on just personal credit cards to finance your marketing, purchase inventory or pay for expenses… sleep easier every night knowing one misstep won’t cost you your family’s home… and get access to much needed working capital so you can expand. That’s a dream come true for many business owners I work with, especially right now.
Does this sound familiar?
“We’re very sorry to inform you that your credit limit has been reduced due to current economic conditions… “blah, blah, blah!
Take one client we’re working with right now. Mike owns a dozen wireless phone stores. This is his most recent venture after successfully running other small businesses for more than 30 years. And just like he’s always done, he financed his inventory with his American Express card.
Every month he bought $50,000 worth of inventory, sold it and paid it off before the end of the month. But just a few months ago, his purchase was declined. American Express reduced his credit limit from $50,000 to $30,000 without any notice – not because of anything he had done.
The only response he got went something like this: “We’re very sorry to inform you that your credit limit has been reduced due to current economic conditions… ” blah, blah, blah! So he had to scramble to find other ways to finance his inventory. A short while later his $30,000 inventory purchase declined. Why? Because his credit limit was reduced to $20,000. Then his credit was squeezed again to $10,000.
It gets worse. As his credit is getting squeezed American Express is reporting to the other credit bureaus that his credit is being reduced so they also follow suit.
Meanwhile, the amount of debt as a percentage of his total available credit or what’s called his debt utilization rate increases. This is one of the most important indicators creditors look at when evaluating a credit score – and Mike’s personal score was dropping like a brick.
When he came to us, we immediately showed him how he could separate his business credit from his personal credit and his first reaction was, “I didn’t know I could do this. Are you telling me that I could have been building business credit and may still be able to get a small business loan?”
The answer is, “Yes!”
We’re working with him to help him and he’s borrowed $100,000 that does not have a traditional personal guarantee.
You really can get the funding you need without putting your personal credit at risk.
I’ll show you how in just a moment. But first I think it’s important that you know a bit more about me.
I own a firm that specializes in helping business owners get the business loans they need to finance their businesses without sacrificing their personal credit.
If you’re like me you probably thought business funding wasn’t even an option.
As a small business owner (prior to starting my own financing company), I personally guaranteed everything because I thought that’s the way it was done. I even prided myself on how well I did it while growing my Internet marketing business. I started with a $5,000 line of credit on my American Express and I played the 30-day float. Over time, I was regularly spending $300,000 on my card – every month!
If anything went wrong the expenses would have crushed me. I didn’t have that kind of money to cover the costs! Fortunately, I was lucky enough to avoid disaster.
The Bottom Line on Business Credit
Business and personal credit often overlap. But you can search out ways to limit your business’s effect on your personal credit, including by applying for business credit cards only through issuers that don’t report business card activity to the three main credit bureaus.
It’s always crucial to keep a close eye on your credit report to make sure there aren’t any errors, which could needlessly damage your score. Once you start a business, that’s even more important: Financial institutions will likely check{“type”:”block”,”srcClientIds”:[“4c8e2284-b599-4108-8024-ee9a9d11155d”],”srcRootClientId”:””} your personal credit when deciding whether to extend business credit to you, especially when your venture is new.
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