"Unlock $50,000 for Your LLC: Top Banks That Approve Without Extensive Documentation"

The Key to Unlocking Business Funding: A Credit Specialist's Perspective

The Three-Way Funding Approach

Houston McMiller, Credit Specialist, here. I understand that many people are trying to get funding for their new LLCs with their EIN numbers. However, there are only three ways to raise capital:

• Having a decent credit score
• Generating revenue for the business
• Providing collateral

Unless you're adding someone to your company, these are the only three ways to raise capital.

Navigating Traditional Lenders

When it comes to traditional lenders, the challenge is that they will look at your credit and the relationship you have with them. Tier-one institutions like Chase, American Express, and Bank of America may not be the best options, as they rely heavily on FICO scores and may not consider factors like authorized users, rental payments, or subscriptions that can boost your credit profile.

Alternative Funding Sources

If you're just starting out with your LLC and EIN, here are some alternative funding options to consider:

• Advantage Finance: They'll provide a credit card based on your Advantage 4 credit score.
• PNC Bank: They use the FICO 9 scoring model, which takes into account factors like authorized users, subscriptions, and rental payments.
• Wells Fargo: They've recently introduced a new business credit card that considers FICO 9 scores.
• BCU (Backer Credit Union): They use the Vantage 3 TransUnion scoring model.
• Vidiian: They also use the Vantage 3 TransUnion scoring model and can be accessed through Habitat for Humanity membership.
• Navy Federal Credit Union: They are FICO 9 experienced and can be a good option, but be cautious of CPN usage.
• Hovia Jia: They offer multiple products (credit cards, lines of credit) with a single hard pull, using the Advantage 4 scoring model.

Remember, it's not necessary to get $50,000 from a single institution. You can leverage multiple funding sources to reach your desired funding amount.

If you have any questions about business credit funding, personal credit funding, or negative item removal, feel free to schedule a one-on-one consultation using the link in the description.

YouTube Source: "Unlock $50,000 for Your LLC: Top Banks That Approve Without Extensive Documentation"
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