How To Get Business Line Of Credit With No Revenue?

how to get business line of credit with no Revenue I know I know it's hard to believe but yes there are tons of lenders right out there right now lending to startups businesses minority owned business women own business all different types of businesses and you can do this with no Revenue $50,000 to $100,000 line of credit yes you can I'm going to share with you how you do it in this video let's go no yeah she can fix that you got to get it done you need to do it better well she can fix that yeah she can fix that investment to get back trying to get a big St she can fix that let's fix that so in this video I'm going to share with you the exact process to getting a business line of credit without using your Social Security in some cases I'm going to share with you the exact process that you can use and I'm going to even tell you some banks and lenders that are doing it and people that can help you right now get that business line of credit so the first thing that you need to know is what are you going to do with this business line of credit business lines of credit are amazing it allows you to basically borrow the money and then as you pay it back that money becomes available to you again it is like a credit card but is a line of credit and there's usually a specific period say for example it is like a 20year business line of credit you have 10 years where you can draw on it take on uh you know take on it in and out use it like a credit card pay it back withdraw use it again and then 10 years of you just having to pay back whatever that balance is or you'll have the opportunity to pay it off and renew it so business lines of credit are really what most bigger businesses use and small businesses actually use business lines of credit to get bigger I know it was probably one of my biggest mistakes of not getting business credit and building business credit and getting business credit cards and business lines of credit when I started my business so I do not want you to do the same thing you have a business you deserve to get the business funding okay that is what this is for and most of us just don't get it because we don't have the knowledge so let's get into it so what are you going to do with the business line of credit is the first thing that you have to know before you ever apply for any business loan line of credit credit card have an idea of what you're going to do with it so you can give the answer that is required so you can buy inventory so if you need if you have a t-shirt business and you need to buy T-shirts you can buy the inventory you can buy the lotion you can buy whatever the product is that you sell you can get that inventory you can use business line of credit and then as you sell those items you pay that off on your business lines of credit that opens it up and you can buy more um marketing of course you want to make sure that you are using your business line of credit to get more customers so you want to Market you want to create ads you want to make t-shirts wrap your car Billboards whatever it is that you're going to do social media ads Instagram Facebook YouTube whatever it is that you're going to do you need to be marketing and saying that you are going to use those business lines of credit to Market is an amazing thing of course apparel some like I said you can use it for um your inventory if you sell clothes but apparel for your team so getting polos or hats made that represent your company so that when you go out into the world you are representing your business this is an amazing thing that Banks and lenders want to hear when you're getting a a line of credit when you say what are you going to do with the funds I'm going to buy apparel I'm going to Market I'm going to buy real estate okay that's another amazing thing that you can do with business lines of credit you can even start with business lines of credit and flip High I can talk to you about that in a second um equipment but another important thing is reserves so getting a business line of credit actually will free you up in many cases you may not even need the money and I strongly suggest you getting a business line of credit if you don't need it okay so because the worst things that you can do is wait till you are desperate wait till business is failing or going down wait till you need the money to go apply for the money the best thing to do is apply for money when you don't need it so having that money and keeping it as reserves keeping it as capital so that you have a cushion so you have some liquid funds that you can you know breathe in your business you have money in the bank you can you basically borrow the money and have a savings um that's what you can use a business line of credit for so if you want a business line of credit you have no Revenue even if you're a startup you can even get professional help you literally can call my friends Justin merch consultant and he can help you get business credit business lines of credit Justin merch Consulting in Dallas based out of Dallas Texas he literally helped me fix my personal credit now he has become an expert in the business credit space he is helping with business credit and business funding use the link below to go to Justin merch Consulting if you need any help with this I'm going to teach you in this video but if you need help right now you can call Justin merch Consulting and it doesn't cost you a dime to get that consultation okay just tell them Noel Rand Noel Randall sent you okay number two the one thing that you need to do so let's talk about how you do it let's get into this the first thing that you need to do in order to get a business line of credit with no Revenue would be to create a real business you have to have a business that people can find you have to have an LLC or a corporation that people can find on the Secretary of State website okay so make sure that your annual filing is done and make sure people can find you on the Secretary of State website for whatever state you're in so in Florida if I look on sunbiz I need to be able to see your business if I'm in Virginia I need to go to the Virginia SOS if I'm in Texas I need to go to SOS the Secretary of State and see your business no matter what state you're in you need to have your LLC or your corporation um and and make sure it's up to date on on the Secretary of State's website um you're going to need Ein okay and this works like your social security for your business it stands for employer identification number you can get an EIN absolutely free just go to irs.gov you go to apply for Ein it's absolutely free make sure you have a website for your business so if you're ABC business go have ABC bus.com on your domain have a website it doesn't have to be a fancy website but I need to be able to find you on the internet as if you want to get a business bus line of credit I need to be able to say that you're a real business and you have a website all right then you need a professional phone number and a professional email really just that simple a professional phone number you can get through grasshopper you can get through Freedom voice you can get a professional phone number and an email when you got the domain to get your your website get the professional email that goes with it so if you bought the domain ABC Properties by email abcpr properties.com too okay so that you have that professional email all right and then number six this is going to be an amazing thing that no one's talking about that Noel Randle is sharing with you that I learned not that long ago get a business checking account if you get a business checking account you literally can get a business line of credit sometimes the exact same day that you open that business checking account there are midsize Banks the PNC Banks the Regions Bank truest Bank bank of ozar like these mid tier midsize banks that really cater to small business and really have unadvertised programs especially for women owned business minority owned business veteran owned business so when you walk into Regions Bank for example I walked in there they gave me $100,000 line of credit on the spot this was many years ago and I had no idea that I even got that and they were actually an unadvertised program were wanting to make sure that they were going and giving and and and and and approving a diverse type of business because business have been dominated We Know by white males in America again not saying anything wrong with that no problem some a white men love you but other groups now they're they're making sure that there's inclusivity you know what I mean and not that white men get less money they're just making sure that women owned businesses are represented minority owned businesses are represented um veteran owned businesses are represented and it's a lot of um money especially at these um mid-tier Banks now of course you can go to Wells Fargo Bank of America City chase those big Banks and they too will get you a business credit card and a business line of credit but opening up that business checking account will open the door for lots of funds for your business even if you don't have any Revenue because let me tell you the next secret first secret is lenders will lend off bank statements okay so when you get that business checking account they don't necessarily ask where the money but is coming from but if it shows deposits going into that business checking account there are lenders that will lend to you with just three months of business checking account statements okay did you hear that three months of business checking account statements and they will only look at the deposits not necessarily the withdrawals and they're not necessarily asking exactly where the money is coming from so as long as deposits are going in there you can have marketing agreements you can have stripe PayPal Square any of that money they'll count those all of those deposits and that's how they'll qualify you okay and you can do this even as a startup but let me give you the the big secret the big secret and my Oprah voice the big secret that no one's talking about stated income programs literally at those same banks that I just said Regions Bank truest Bank um PNC uh and there's quite a few others actually if you go to Noel's free.com I'll give you a list of these um Banks but there's these lenders lending right now as a startup to you and you can get a business line of credit when you open up your business checking account and you can use stated income they will ask you to State your income you they will not ask you for a W2 they will not ask you for a tax return and so deals that you have maybe that you didn't necessarily pay taxes on or certain things like that they can count that income for you okay stated income and especially at PNC Regions Bank truest Bank those are the ones right now if you're listening to this right now they have those stated income programs all right if you want to learn more about that you know you guys can always reach out um do a consultation with us at call.com but if you need help with this thing right now what you should do is use the link below and go to Justin merch consultant so like I said my friend he's a dear friend of mine I've known this guy for over almost a decade now and amazing company amazing group of Associates that helps with business credit and they will give you your options you can get a free consultation with them Justin merch Consultants use the link below reach out to them it's a free consultation see what you qualify for okay without even using your social security number in many cases okay they can teach you how to get that business credit unlock lots of business funding in fact I've had students hundreds of thousands of dollars approved in a matter of months okay so no guarantees but my friend Justin merch consultant they'll give you your options I can't tell you exactly how much they can get you but I I on average I believe it's at least $25,000 so go ahead Justin merch Consultants I just want to make sure that you have all of the resources all of the tools and all of the knowledge that you need to be successful this is your friend Noel Randall to your success

Channel: Noelle Randall

Views: 41,171

Keywords: business credit, business line of credit, business funding, business credit cards, how to build business credit, build business credit, business credit card, business loan, business loans, noelle randall, noelle randall coaching, line of credit, small business loans, how to build business credit fast, business credit 2023, build business credit fast, business credit hacks, how to get a business credit card, how to get business credit

Id: MEoCqGogrLo

Length: 10min 50sec (650 seconds)

Published: Fri Dec 08 2023