Stop thinking the wrong way about business loans.
A majority of entrepreneurs are denied a loan for several reasons like a lack of credit history, criminal record or because the name of their business seems "risky."
The bottom line is, the system is working against you.
The bank has hidden criteria they use to deny entrepreneurs for loans and send them on their way.
I know this because, for years, I too had the wrong perspective on how to fund my business. I thought you had to get it from the bank or by asking a rich friend or family member to fund your business.
My business ideas kept falling through because I kept drowning in interest rates. I was frustrated because I knew I had good ideas, just no money to fund them.
That's when I learned about Credit Stacking.
How does Credit Stacking get you funding?
Credit Stacking gets you the funding for your business without a loan from the bank, rich uncle, or other entity that will bury you in interest fees.
The concept is centered around business credit.
Let's say you were starting an office cleaning company. To get started you'll need supplies, uniforms, a website, and other miscellaneous things. All of that costs money.
There are two ways you can produce that money:
You can get a loan from a bank (assuming you get approved) and use that money to pay for what you need. You'll need to pay interest on that loan which will require you to scrape and save with every penny you make.
You can get a business credit card with a $50,000 spending limit and 0% interest. Put all of your expenses on the card and use the money you make to pay off your card.
I know for a fact the second option works better because it worked for me. That's why I created Credit Stacking. I wanted to share this knowledge with fellow entrepreneurs to give them a fighting chance in a world that works against them.
How do I get a high spending limit on my business credit card?
To start, it helps to have a good relationship with the right banks. In my Credit Stacking mentorship, I recommend people start with Chase bank.
Open a personal bank account and make sure you keep cash in your account. Once your business has been established (only takes about 30 days), you can open a business account with Chase and start working towards getting a high-limit credit card.
Credit Stacking offers relationship managers with Chase bank who can help you get even higher utilization on your business credit cards. It's an exclusive offer to people who are actual members of my mentorship.
Credit Stacking offers you a second chance.
Anyone with a 650 or higher credit score can take advantage of business credit. This is not reserved for an "elite group" of individuals.
Personally, not all of my business ideas became the next big thing, and that was discouraging. Once I learned how to use Credit Stacking to my advantage, I realized success was right in front of me. I just needed to pick myself up, learn from my mistakes, and take my first step toward success.