Obtaining an unsecured business line of credit can be an elusive process. So we’ve decided to share some of what we’ve learned. We’ve been doing UBLs exclusively at LenCred for the last three years, so we know what works and what doesn’t work.
This post kicks off a blog series that introduces the four-part process we use to help our clients get a UBL. We’ll explain each of the four steps in the process.
There are many people that will tell you that UBLs are too hard to get, or that they don’t really exist. As small-business finance professionals, obviously we have heard all the good and bad about UBLs, and want to share our insights with you.
To start with we want you to know — if you don’t already — that obtaining an unsecured business line of credit is probably going to be difficult without the services of a well-qualified consultant. Keep in mind that I said “probably,” because it’s certainly not impossible for you to go directly to a bank and get your UBL.
But whether you choose to do it on your own or to work with a third-party consultant, there’s a lot to know about UBLs. That’s why we’ve created this informational blog series. I also want to point out that many of the third-party consultants who claim to know how to access UBLs are, quite simply, scams.
We recommend you investigate any consultant you’re contemplating hiring by checking with consumer organizations such as? The Better Business Bureau. Watch out for the one sure sign of a problem: up-front fees. If someone tries to sell you a cool program that sounds great, but you are asked to pay them before you obtain your financing, beware.
In the following four posts, you’ll learn the four key steps in the process of getting unsecured business credit. It’s a system that was developed by me personally, and we use it every day at LenCred. Keep in mind that this process does not exist anywhere else in its fullness. I didn’t buy a franchise and have this information given to me. It’s something I have done to help my clients. It’s been proven time and again with hundreds of our clients from across the country who have obtained their financing after choosing to work with LenCred.