ENHANCE YOUR BUSINESS PLAN
CREDIT LINE HYBRIDS.
Credit Lind Hybrid Program
working capital
documentation
No documentation, such as bank statements, income verification, or tax returns, is needed. You will get the funds at 0% interest for six to eighteen months.
hybrid of credit cards
This type of financing is a hybrid of credit cards and credit lines. With credit cards you can get a 0% rate, and with credit cards, you can get cash out. With the credit line hybrid, you have access to both these features simultaneously. In addition to this, you’re also building business credit in the process, which is a huge benefit. You can get five to eight lines; many of these report to business credit reporting agencies. And the more accounts on your business credit report, the more fundability the business will attain.
FICO score of 680+
good personal credit
There is only one main criterion for approval: good personal credit (FICO score of 680+). Ideally, your usage-to-limit ratio should be less than 40% and you should have fewer than six inquiries on your credit report. If this is not the case, you can still get funding, just for a lower amount. Alternately, you can get approval with a guarantor. Even with poor credit, you can be approved if a family member is willing to be a guarantor. Because credit line hybrids only report to business credit reporting agencies, there is no risk to the guarantor’s personal credit score.
