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July 25th, 2020
Thank you for visiting. I decided to share my personal funding and credit journey to give you a better idea of how we may be able to help you get lots of inexpensive capital for your business and for your household.
Like many Americans, I always thought that carrying debt was a bad thing. I was always nervous about debt and worked hard to pay off my mortgages and other debts as quickly as I was able. I later learned how much this limited my options.
For my businesses, I reached into my pocket to pay for all my business and personal travel, computers, office space and employees. I grew my businesses with savings and cash flow because I thought that avoiding credit was the 'right way'. At the time I traveled a lot. I was in Europe and four different Latin American countries to evaluate financing for various projects. You can imagine how draining that was financially.
This was pretty ironic when you consider BizLoan1 helps business owners obtain commercial loans!
What I didn't know was that my credit file was so thin, it wouldn't have mattered if I needed or wanted capital because No Bank would have extended me credit. I didn't even exist to them.
By not having access to high credit limits, I took money that I could have invested in other projects or the stock market, and spent it on depreciating, and high risk assets. I say 'high risk' because if you look at the SBA statistics, most small businesses fail. I lost out in two ways:
1) I didn't have available credit for the slow times (which happened!); and
2) I was limited to how much I could invest when great opportunities came along. What I had in the bank or savings was it. So, when (for example) a $50,000 opportunity came along I had to pass on it if I didn't have that money available. I didn't realize it at the time, but this was not only foolish, it was very stressful!
GOODBYE CREDIT SCORE
By 2016 my credit disappeared. I didn't even know this was possible, but one day I was curious and checked my credit score to find out that all my past credit history was no longer posted. My mortgage histories, my past vehicle loans and the credit cards I previously canceled were erased, never to return.
I didn't have enough recent history to even generate a FICO score with any of the three bureaus! I was foolishly proud of this because I held on to the belief that being debt-free was 'smart money', so a credit score meant nothing to me. Dumb. Really dumb.
This way was crazy! I was helping hundreds of business owners get all types of funding: business loans and credit lines, commercial mortgages, equipment loans and SBA loans. I was helping them, but not doing anything to make capital available for my businesses, or myself personally. That's how brainwashed I was into believing that debt was evil.
Over time I noticed that a small percentage of clients could get loans approved quickly and easily, with low rates and good terms. Others struggled and usually settled for expensive, short term loans, and a third group could never get capital - Not even crappy, high interest short term loans. It bothered me that we had to turn away so many loan applicants and lose their business.
So, I started researching ways to help our clients get better loan approvals, and learned that anyone can get lots of credit, as low as 0% interest, If he or she takes the simple steps to create the right profile. After building that profile (which is not difficult), the next step is to apply with the right banks at the right time, in the right way. Financial institutions are very happy to lend money to people with this profile - often, as low as 0%. Another thing I learned was that even people with great credit were NOT tapping into the high limits they were eligible for!
I WAS THE LAB RAT ...
I decided to test all that I learned for myself, and within 10 months I went from being a credit ghost with no credit score to having a 762 FICO score and being approved for $50,000 in Unsecured Personal Credit Lines ( 0% interest and perks), $75,000 of Unsecured Business Credit and I just got approved for up to $475,000 for a commercial mortgage through a Veterans program, with NO money down and very little documentation required! I also got a written pre-approval for an auto loan (personal or corporate car) at 1.79% interest for up to 72 months!
I haven't decided on a property yet, but got written confirmation yesterday (July 24th, 2020) that as long as the property satisfies the appraisal, they'll close! I don't need a new car at the moment, but can relax in knowing that when I'm ready the money will be available with just my signature at a super low rate. Don't forget, there's good debt and stupid debt. We don't want to use money just because it's available.
My story is real, and I am NOT sharing this to impress you, but to let you know that I discovered what is possible no matter what your credit situation is. Remember mine was ZERO - it didn't exist; to some banks that's worse than bad credit!
This journey took time and patience, but it was simple and I guarantee that anyone that applies a few basic principles can do the same thing. If you're thinking that this was during great economic times, check the date again -- all these approvals started coming during the Covid-19 pandemic!
Like you, I understand the challenges of running a business and managing capital to keep a business running, especially during a pandemic. I know what it's like to manage staff, pay the bills, put out fires, meet payroll and always looking ways to grow your business. I also know how frustrating it is to have limited options when tough times come! It's awful.
If you limit your credit you limit your options; and this will always limit growth.
I know how difficult it is to find the best sources for high limit business funding, and to hit brick wall after brick wall. Someone could spend years researching options when you consider that there are almost 5,000 banks, nearly 6,000 credit unions and over 20,000 private funding sources in the United States, each having their own unique programs!
Most business owners (including startup entrepreneurs) go about getting business funding the wrong way. It's not their fault, this isn't something they teach us in high school or college and the banks certainly won't teach you.
Thank you for taking time out of your busy day to read my message. If you want to learn how to do this for yourself, you certainly could; just be ready to invest a lot of time, make a lot of phone calls and learn how to deal with the roadblocks. If you don't have the time or interest, don't worry, I did all the heavy lifting for you; so if this sounds like something you would like to learn about, I will show you how we've done this for clients, and how I did it for myself.
Once you have access to higher credit limits and connect with the country's top financing sources you'll wonder why you waited so long to do something so simple, yet so beneficial.
Even if you don't need cash, equipment or property at this time, fill out the form below and let's talk about your options. Yes, we're living through a crisis... But remember, disasters are where the greatest opportunities are born!
Talk to you soon,
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