Unsecured business lines of credit is arguably the most accessible type of business financing there is. Business financing can be difficult to obtain or completely inaccessible for many entrepreneurs. However, unsecured business lines of credit can be obtained by just about any business owner. This is one of the many reasons why LenCred focuses on helping startup and established small business owners obtain unsecured business lines of credit. The catch (of course there’s a catch) is that a well-established, solid personal credit history is required to qualify. The owners of the business (or whoever is acting as a personal guarantor for the business), must have a good credit history to qualify. Not perfect credit but solid. That’s where we can help. At LenCred we’ve been doing this for 10 years and we know what works and what doesn’t work.
If you want to qualify for unsecured business lines of credit, you should first understand what they are and the different forms they come in plus the qualifications you need for each. Secondly, you should know what lenders want to see on your personal credit profile to determine if you will be approved – and for the best rates (sometimes with 0% intro offers). Knowing this (and applying what you know) will enable you to increase your chances of getting approved for unsecured business lines of credit.