You're right ! They typically require a solid credit history because you're personally guaranteeing the credit. If your credit score is lower, it can indeed be challenging to qualify initially. However, there are strategies to improve your credit over time, such as working on credit repair and building a stronger financial profile.
@@marcus2much124 In most cases, if you have bad personal credit, it's unlikely someone else can personally guarantee (PG) for your business credit. Personal guarantees typically require good creditworthiness to assure lenders of repayment. There are alternatives, such as revenue-based financing or lenders specializing in poor credit histories, that may offer options for obtaining business financing without requiring a strong personal credit score. These alternatives often focus more on the business's revenue and financial health rather than the personal credit of the guarantor.
@@joanrich33 Absolutely! These inquiries are a step towards securing the necessary capital to grow your LLC. Focus on the long-term benefits-such as building strong business credit and accessing substantial funding opportunities.
Hi and thanks for the wonderful information you have provided. One question, if I am added as an authorized user on another account, will my application affect the other persons credit?
If your personal credit score is low the bank doesn't offer the card. It's still hard to move forward.
You're right ! They typically require a solid credit history because you're personally guaranteeing the credit. If your credit score is lower, it can indeed be challenging to qualify initially. However, there are strategies to improve your credit over time, such as working on credit repair and building a stronger financial profile.
Can someone else PG for your business if you have bad credit? 🤔
@@marcus2much124 In most cases, if you have bad personal credit, it's unlikely someone else can personally guarantee (PG) for your business credit. Personal guarantees typically require good creditworthiness to assure lenders of repayment. There are alternatives, such as revenue-based financing or lenders specializing in poor credit histories, that may offer options for obtaining business financing without requiring a strong personal credit score. These alternatives often focus more on the business's revenue and financial health rather than the personal credit of the guarantor.
The hard inquiries on your personal credit is tough when starting your LLC. Don’t let that deter you from moving forward!
@@joanrich33 Absolutely! These inquiries are a step towards securing the necessary capital to grow your LLC. Focus on the long-term benefits-such as building strong business credit and accessing substantial funding opportunities.
Thank you so much❤
Ms. Noelle I have been following you for years please don’t stop giving your game
Thank you so much for your loyal support over the years!
I’ve been following you, thank you for giving back and paying it forward.. Information is key to success… Need help with business endeavor.
You're welcome! 🥰
I have been successful with these banks.
how was the process for you? was it as simple as it seem?
That's fantastic to hear! Congratulations.
19yrs and been subbed taking notes 🎉
Wow, I truly appreciate your longtime support and dedication to learning from my content!
Where is the link?
Hi and thanks for the wonderful information you have provided. One question, if I am added as an authorized user on another account, will my application affect the other persons credit?
No it will not. They aren't applying for credit you are. Being an authorized user benefits you and boost your credit scores.
Thanks!
Thank YOU gorgeous
You're welcome!
Thank you Noelle ❤💯
You're always welcome!
Thank you Noelle
You're always welcome!
Thank you, for your gems😊
You're very welcome! I'm glad you found the information valuable.
are you in jacksonville?
🔥
❤❤❤❤
Literally ^_^
Is it possible to get business credit for my wife's day care ? Her credit score is over 700 but we're unsure how to approach. @noelleRandall1