Get approved for Personal loans and business loans from 20,000 to 400,000 with a Over a 700 credit score

In order to get approved for a personal loan or business line of credit you must first know the requirements of the lenders before applying. Good credit is considered to be a personal credit score within 700-850 and people with scores in this range will have access to the most funding opportunities and best interest rates. Most lenders typically only work with borrowers who have credit scores over 700 which makes it easier for you to get approved for a personal or business loan whether short-term or long-term. We work with lenders that only require a credit score over 700 to get approved for loans and lines of credit with no collateral or co-signer.

How long does it take to get approved for a personal loan?

When you are applying for a loan the financial needs are time sensitive so we pride ourselves in getting you the best possible loan whether it be a personal loan, credit card funding, line of credit or equipment financing. Our personal funding and loans ranging from $20,000 to $400,000 and because of our experience and business relationships we’re able to get clients funding amounts of around 30 to 40% higher than most other funding companies. The only requirement you need is a credit score over 700 qualify, and with only a one to two day pre-approval process and 7-14 days to close for you funding, securing the financial support. If you are have a credit score in the 600’s check our credit boasting options from authorized to primary trade lines and negative item removal including inquires.

Credit cards

Credit cards are the most common form of credit in with the latest data showing a credit card debt of almost 60 billion dollars as the majority of Americans carry at least one in their purse or wallet.

Credit cards are a primary way to build your credit and knowing how you manage your credit card debt will give you the best advantages and establish a good credit history.

If you follow the model of 30 percent debt which is good, 9% which is great or even paying the balance off every month will not only build increase your credit score but you will avoid being charged any interest!

Credit card Advantages

• Quick and easy borrowing
• Buyer protection: Credit card can easily be canceled if it’s lost or stolen and consumer protection in the case of fraud
• Convenient
• 0% Interest if you pay in full every month
• Reward advantages
• credit boasting if used properly

Credit cards Disadvantages

• High Interest if balance is not paid off in full every month
• Late payment fees for missed payments
• Over spending due to easy access
• Credit card fraud
• Negatively effect credit score if not used properly

Personal loans

Personal loans can either be unsecured or secured – a secured loan uses collateral (such as your house, or your car) to ‘guarantee’ the loan, so if you default, the lender can make a claim on the collateral to get the money repaid.

Secured loans generally have lower interest rates, offer higher loan amounts and are easier to be accepted for than unsecured loans, as with security there’s less risk of the debt going bad.

• Personal loan Advantages Flexibility – the cash goes into your bank and you can use it for anything
• Can be used to consolidate other debt at a lower interest rate
• Fixed term repayments, compared to credit cards which are variable depending on your use
• Usually fixed interest rate

Personal loan Disadvantages

• Depending on the amount and term, monthly repayments might be high and can cause financial difficulties
• Risk of losing the collateral if you take out a secured loan
• Having to stick to the full term of the loan

Business Credit Cards

Business credit cards give you similar benefits as personal credit cards, and you can even get business reward cards.

No matter how small your business, a credit card is a useful option to help you manage your business spending and cash flow. It is important to build your business credit properly as you would your personal credit because entrepreneurs and small businesses, to be accepted for business credit cards, as they’re seen as high-risk by lenders.

Business credit cards disadvantages

• Makes tracking business expenses easy for accounting purposes
• Can give cards to more than one employee
• Easy way to build trade credit if managed responsibly
• Good to have for emergency funding needs
• Business credit cards advantages
• Hard to obtain
• Business credit cards can have an adverse effect on your personal credit
• Higher interest rates so can be costly if you don’t pay them in full each month
• Don’t usually come with the same consumer protection as personal credit
• Interest rates can fluctuate

Business loans

Business loans are the most tradition means of financing a business, but they’re the hardest to be approved for, particularly for small businesses and start-ups that don’t have a lot of collateral or history.

Even with Small Business Administration (SBA Loan) backing, and being able to use their lending partners, it’s still not a given.

An SBA loan program guarantees a percentage of the loan up to a maximum of 85%, so the banks are less at risk, but there is still that small percentage of risk, and many institutions are wary of lending even with the smaller amounts of unsecured debt.

If you’re looking for a business loan, it’s important to be mindful of what the banks will be looking for to make them more likely to approve a loan.

Firstly you need to establish exactly what you need the loan for, be very precise and have a good reason for needing it such as equipment, software and real estate for the business are all viable needs, topping up a depleting business bank account or making non-essential purchases are not.

A business plan is required, one that includes your business model, long-term goals and cash flow forecasts, target customers, sales forecasts and profit and loss details.

Whichever financial institution you approach, they’ll need to satisfy themselves that your plan is watertight and correct, so be prepared for a lot of in-depth questions.

Business loans Advantages

• Convenient, particularly if you already hold business products with the bank
• Can be used for whatever you need once it’s approved
• Help build business credit
• Fixed monthly repayments
• No need to share future profits with the bank, unlike some other forms of cards you’re approaching business funding
• Business loan Disadvantages
• The application process can be lengthy and rigorous
• Your personal credit might come into it, particularly if your business is new
• Banks are more cautious about lending to small businesses especially new ones
• Might need collateral