– The author recommends five banks for getting business funding without proof of income.
– Business funding differs from business credit, which involves opening lines of credit with specific companies.
– Payday scores are not important for getting funding from financial institutions.
– Business funding involves leveraging both personal and business credit to obtain lines of credit from banks.
– New LLCs and small business owners may not have traditional financial documentation, which is why some lenders offer stated income loans and credit cards.
– Stated income loans and credit cards allow businesses to state their income without providing traditional financial documentation.
– Personal credit is important for obtaining business funding, but there are strategies to minimize reliance on personal credit.
– The author emphasizes the importance of getting funding quickly and easily for new LLCs and small business owners.
The author suggests that there are five banks that can provide up to $50,000 in business funding without the need for proof of income. The author differentiates between business credit and business funding, with the former being lines of credit with particular companies and the latter being leveraging the business owner’s personal credit to secure lines of credit and credit lines with banks. The author emphasizes that personal credit is crucial for securing business funding, and that lenders do not care about personal credit scores. The author suggests that new businesses, which may not have revenue, can still secure funding through stated income loans or stated income business credit cards, where the income can be self-declared. The author does not explain why these particular banks are able to provide funding without proof of income.
Bullet Summary:
– There are five banks that can provide up to $50,000 in business funding without proof of income
– Business credit is different from business funding, with the former being lines of credit with particular companies and the latter being leveraging the business owner’s personal credit to secure lines of credit and credit lines with banks
– Personal credit is crucial for securing business funding
– Stated income loans or stated income business credit cards can be used to secure funding even if the business has no revenue
– The author does not explain why these particular banks are able to provide funding without proof of income
