Unsecured Business Financing (UBF)… the Hidden Gem of Business Financing
Typically, when you apply for a credit card you put an inquiry on your consumer report. When other lenders see these, they won’t approve you for more credit because they don’t know how much other new credit you have recently obtained.
So they’ll only approve you if you have less than two inquiries on your report within the last 6 months and more will get you declined.
With UBF, you work with a lender who specializes in securing business credit cards. This is a VERY rare, very little known about program that few lending sources offer.
They can usually get you 3-5 times the approvals that you can get on your own. This is because they know the sources to apply for, the order to apply, and that can time their applications so the card issuers won’t decline you for the other card inquiries.
The result of their services is that you usually get up to five cards that mimic the credit limits of your highest limit accounts now. Multiple cards create competition, and this means you can get your limits raised typically within 6 months or less of your initial approval.
With UBF they actually get you 3-5 business credit cards that report only to the business credit reporting agencies. This is HUGE, something most lenders don’t offer or advertise. Not only will you get money, but you build your business credit also. So within 3-4 months, you can then use your newly established business credit to get even more money.
The lender can also get you low intro rates, typically 0% for 6-18 months. You’ll then pay normal rates after that, typically 5-21% APR with 20-25% APR for cash advances. And they’ll also get you the best cards for points, meaning you get the best rewards.
Just like with anything, there are HUGE benefits in working with a source that specializes in this area… the results will be much better than if you try to go at it alone.
Approval limits will mimic that of your personal cards now. Approvals usually range from $2,000-50,000.
You’ll usually get 3-5 cards, so that means you can get up to 5 times that of your highest credit limit accounts now. Approvals can go up to $150,000 per entity such as a corporation.
You must have excellent personal credit now, preferably 700 + scores… the same as with all business credit cards. You shouldn’t have ANY derogatory credit reported to get approved. For more info:http://www.creditsuite.com/mak
Happy investing in yourself
Chari Farmer Ogogo