It’s a definite possibility that you can get an unsecured business line of credit for your small business without revenue. In fact, here at LenCred, we know just how to help you get an unsecured business line of credit without you having to show any proof of actual business revenue. This is especially important for small business startups that may be having difficulty figuring out how to fund their business.
How Can I Get an Unsecured Business Line of Credit Without Revenue?
Obtaining an unsecured business line of credit is based on you having good personal credit, not your business revenue. This is how small business startups are able to qualify. If your personal credit history is at least five years old, you have at least two personal credit cards with limits of $5k reporting and your utilization of those personal credit cards is below 30%, you may have a good chance of getting approved for an unsecured business line of credit.
What’s the Catch?
Obviously the catch is that you need to have a well-established, well-maintained personal credit history to qualify. You can also have your friends or family act as a personal guarantor for you (if you don’t qualify) and they have good credit. That is the only catch. If you can meet the personal credit criteria, you may be able to very easily get approved for an unsecured business line of credit.
How Can I Get Started?
If you’re interested in applying for an unsecured business line of credit, I strongly suggest you consult with an expert (such as the experts here at LenCred). Our advisors specialize in helping small business owners obtain unsecured business credit. They will be able to tell you if you qualify (after reviewing your personal credit history) and determine which lenders you should apply to. You could get up to $50,000 (or more) in the next 30 days for your small business.
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