A list of the requirements for a Business Line of Credit.
IDEAL candidates will possess the following:
- 730+ credit scores (owners with at least 10% equity)
- 10+ years length of personal credit history
- No bankruptcies or foreclosures
- No minor delinquencies within the past 2 years
- Business' tax returns must prove $300k gross income for the past 2 years
- Business entity must be at least 2 years of age
- $20,000 or less credit card debt on each business owners credit report
- 20% or less credit card utilization on each business owners credit report
Always apply for consultation. If you do not qualify, 100 Percent Financed can help you.