Q: 0% Interest Credit – How does it work?
There is a strategy to obtaining large limit credit cards with any given company. We can help you meet the criteria for credit cards of $50,000 to $250,000 with 0% interest.
To entice business banking customers, there are a variety of banks and equity institutions that provide 0% business credit cards for a period of 6, 9, 12 and even 15 months.
The rules are complex. It’s not like obtaining a home loan. In addition to having a high credit score, the lenders look for a specific borrowing profile of someone who would have the need and use of such a large amount of available credit. So even if you have a perfect score, you may get stuck with just $5,000 to $15,000 in credit.
That's why negotiating each account is paramount to getting the larger approvals. Fortunately for our clients, our team is highly trained and extremely effective at negotiating FOR our clients and that’s how we're able to get such large approvals. Having good credit is just a requirement of the whole process. Negotiating is what brings in the largest amounts.
We know the way the banks work down to a science, we work hand in hand so we're aware of special promotions before the general public. We also know how to effectively capitalize on these offers. It's one thing to know about these credit lines, but it's another thing to get approved with a substantial amount.
This is the most flexible and lowest interest capital you can use as cash for small businesses, startups, real estate investors and more.
Q: Can the funds be in cash?
We can help you meet the criteria for credit cards of $50,000 to $250,000 with 0% interest. The typical introductory period is 12-15 months.
There are typically very small, if any, balance transfer fees. Even if you don’t have any balances to transfer, we can show you how to turn the credit lines into CASH.
Q: Is good credit required?
If your FICO (credit score) is 680 or above, you are a great candidate. If your FICO is below 680, you will most likely need credit counseling to assist you with items that are hurting your score. We can advise you appropriately.
Q: Do I have to have an existing business?
Not Necessary!
For those of you who don't yet qualify for business credit due to having limited personal credit or lack of business history, you can still get 0% for as long as 12 months based on your personal credit and that 12 month offer and others like it are perfect ways to establish more credit history so you can then qualify to obtain business credit lines shortly down the road.
Unlike other programs, this program is the only one focusing on start-up capital. You don't need to have an existing business. It does not even require collateral or proof of income. Good credit is the only requirement.
Q: Does my business have to be an LLC or Corporation to qualify?
Your business can be an LLC, S Corp, C Corp or even a Sole Proprietorship. However, lenders prefer LLC's or Corporations. Forming a business entity shows the lenders that you are serious about your new venture and that you are willing to take the correct steps to legally protect it.
If you don't have an entity yet, we can help get your business started correctly no matter where you are.
Q: What is the interest rate?
The interest rate is ZERO % for the first 12 months. After the first 12 months the interest will be between 12-24%, depending upon the following factors:
1. Your payment history.
2. Your balance to credit limit ratio.
Example, if your limit is $100,000 but you only use half of it or less ($50,000 or less), your interest will be lower. If the limit is $100,000 and you use the full $100,000, then your interest rate will be higher.
Why? Because the perceived risk by the lender is higher.
Q: What is the monthly payment?
Your minimum monthly payment is approximately 1% of your current loan balance for the 1st year when interest rate is at 0% and around 2.5% of the remaining balance from the second year on when interest rate kicks in.
For example: if your balance is $100,000 then the minimum monthly payment will be about $1,000 for the first year and for a balance of $88,000 of the second year then monthly payment will be around $2,200. Of course, you can pay more to reduce the debt sooner, or you can pay all of the outstanding balance at any time without prepayment penalty. If you have $100,000 when you pay down $50,000, you can borrow the remaining $50,000 once again, at any time without recurring any broker or lender’s fee.
Q: What type of business is eligible?
Any business purpose and type of Business is eligible; however, businesses with clear paths to profitability are preferred.
Remember, the credit lines will help get your business up and running fast, but you do have to service the debt, so be sure you can start ringing up sales quickly. This has been ideal for:
- Small businesses expansion
- Startups
- Real estate investors
- Down payment
- Buying out an existing partner
- Nail salons
Q: Can my business afford the payment?
You and only you can assess your business potential and the affordability of any type of financing. If you raise $100,000 for a new venture and the monthly payment is between $1,000 - $2,200 then you need to estimate if this venture will net you at least $5,000 per month after expenses in order for the funding to make sense.
Industry experts state that for every dollar you borrow, your business should increase by $2.31. Please measure the risk properly.
On the other hand, if having proper funding can help your business grow and you don’t act on it, this could be an opportunity lost. As an entrepreneur, if you can net $3000 for every $100K you raise then how many hundred thousands or million, will you borrow?
Also, you need to consider the fact that once the loans are paid back, you now own an income generating business that will yield for many years to come and without the monthly payment, your net profit just increased by double.
Q: Is there a fee for your service?
There is NEVER an upfront fee. We are a performance base company so we only charge for our service based on the total credit line amount that we successfully help you obtain. There will never be an out of pocket cost for you.
Based on our experience and the fact that you can take advantage of 0% interest offer, this is the least expensive capital you can use for your business venture.
