🏦

Banks Approving LLCs for Unsecured Credit

Mar 13, 2025

Lecture Notes: Banks Approving LLCs Without Proof of Income

Overview

  • The lecture discusses five banks that approve new LLCs for credit lines without requiring proof of income.
  • Potential funding: Up to $50,000 per bank, totaling up to $250,000.
  • Importance of securing funding before it’s urgently needed.

Importance of Business Funding

  • Most businesses fail due to inadequate funding.
  • Secure funding in advance to manage business growth and emergencies.
  • Borrow money before it's needed to avoid struggles during scaling.

Expert Advice & Consultation

  • Video sponsored by Justin Merch Consultant, expert in business credit and funding.
  • Offers free consultation for strategy and assistance in securing credit.

Key Concepts

  • Stated Income: Banks allow you to state projected income for businesses rather than show past income proof.
  • No need for tax returns or bank statements.

Banks Offering Loans Without Income Proof

  1. Chase Bank
    • Offers business credit cards and lines up to $50,000.
    • Requires a personal credit score around 660-680.
    • Establish LLC and EIN before applying.
  2. Bank of America
    • Offers up to $50,000 in credit.
    • Open a business checking account to build a relationship.
  3. PNC Bank
    • Offers up to $100,000 for businesses over 2 years old.
    • Known for catering to small and midsize businesses.
  4. Truist Bank
    • Offers up to $50,000 in business credit and lines.
    • Specializes in small and midsize business support.
  5. US Bank
    • Provides up to $50,000 credit for new LLCs.
    • Offers incentives like cash bonuses for opening accounts.

Bonus Bank: Regions Bank

  • Offers credit cards, loans, and lines to multiable businesses.
  • Known for supporting small businesses in specific regions.

Credit Bureau Insights

  • Different banks use different credit bureaus; strategy can minimize inquiries.
  • Justin Merch provides guidance on which bureau each bank uses.

Conclusion & Advice

  • Be proactive in securing business funding.
  • Consider professional advice to maximize credit opportunities.
  • Maintain good credit practices and utilize available resources effectively.

Call to Action

  • Subscribe to the channel for more business insights and strategies.
  • Reach out to Justin Merch Consultant for personalized credit assistance.

Full transcript