so let's look at the Navy Federal personal loans now this is super cool everybody can do this now if they want okay and I did this last December last year December the personal loans okay goes up to $50,000 okay you can do it whatever you want to use the money for it's instant liquidity it was stated income and they required no documentation they didn't require pay stubs they didn't require tax returns I literally tell them how much I made what my rent was they literally gave an answer right there on the spot and then I signed a promiser note and within seconds my money was in my checking account I'll say that again okay it was stated this could pay for the mentorship right here for some of you because some of you need the money all right stated income no proof of income so you're going to tell Navy Federal what you make you're not going to have to send in docks you're not going to have to send in a tax return you're not going to have to send in payub and you're going to sign a promissary note that you're going to promise to pay the loan and when you do the the the funds will instantly be in your checking account Same Day within the hour Merry Christmas hard pull from TransUnion Joe they like that one let's talk about the home improvement loan now this one as you can see you can apply right from the website this one right here you cannot apply right from the website you have to call in or go into a branch okay this is the home improvement loan and as you can see too um when we go over to the personal loan the interest is going to be high higher when you go 60 months which is 5 years now you can pay it off early right but but interest compounds daily right so if you go 60 months you can pay this off whenever you want with no prepayment penalty all right so people that need the money for Real Estate they can jump in get the 50k get the deal under contract do what they want to do and then you know they could pay this off whenever they want if they don't want to pay interest if if it's better for them to have it then hey have at it the nice thing is is you're getting the trade line of 50K on your credit report that's beautiful instant liquidity trade line on your credit report building amazing relationship with Navy Federal when you're when you're paying that off on time believe me comes big time for you when you get into the business side of things all right so I'm a huge fan of this personal loan okay um I have it actually so home improvement loan now my friend got this without owning a home so this I've heard it both ways you're going to have to do your due diligence and ask okay I think what they're doing is they're just going off of your word of mouth of what you tell them whether you own a home or not because my friend got the loan he didn't have to provide docs and this was basically what he was going to do is get into Fix and Flip right so no collateral required so you're not having to put your mortgage on the line this is not a home equity loan you know this is not a home refinancing loan this is a home improvement loan a loan that's designed for Home Improvement projects real estate to be able to help you get done what you want to get done right notice you'll have up to 100 80 months with this right and so the interest can be in that same ballpark so if you're looking to use a loan more for real estate side of things I would recommend the home improvement loan versus the personal loan if you can get approved for it if you can't then the personal loan would be your your way to go the personal loan too guys I took out a personal loan when I started my business on YouTube okay I I had Sofi at the time right and uh yeah I mean you just have to have an exit with loans if you don't have a plan to exit the loan you're going to get beat if you have a plan to use the money I love it right if you have a solid plan hey I need the money this is my exit strategy this is how I'll exit if I get in trouble it's when people don't have a plan that they get wrecked right so my job is just to deliver the information that's what you paid for my job isn't to be your moral police I'm just trying to look out I'm trying to look out and look after you a little bit here all right auto loans okay um they have a couple different things new vehicles okay um they can go up to 96 months so they actually have auto loans up to 100K so you can go all the way up to 100k with their auto loans which is super cool um now there's been a lot of controversy with the auto loans um we'll kind of talk about that uh bad credit can actually get approved for auto loans the nice thing about this is guys you can get a pre you can get preapproved for this thing with them and then you don't have to go to the dealership and ask to run your credit all over the place because they're going to shoot shotgun your credit all over the place if you go into a dealership with funding already knowing doing market research this is the car I want this is the vehicle I want I'm already pre-approved you really take the power out of the sales guys hands out of the fni guys Finance guys hands when you're coming in there you don't need their money you got your own money you already know what you want you don't want to be convinced otherwise you literally take all the power away because you've Expos everything to light right so the best way to buy a vehicle is to get pre is to get funding through a credit union that you work with or you can do a 0% but the problem is is some of these programs that they talk about at the dealership at really low interest rates are designed for perfect credit and if you don't have perfect credit then they'll shotgun your credit all over the place now you have to use inry removers to to move them it's just a hassle okay so if you don't have perfect credit go to a credit union to get your autol loan right and on top of that if you're a business owner I would be using the Bank of America play or being using the Navy Federal Business auto loans if you can put the vehicle in your business name that's even better why because your debt to income ratio won't suffer from it so all right going back if you're not in business you don't plan on being in business you just want an auto loan Navy Federal Credit Union will be a great bet you want something quick to get a vehicle real quick they also don't require proof of income and they also don't require Tax Returns on this as well okay so this is stated income as well so you can get the vehicle handle what you got to handle and then I would recommend I highly would recommend that you move this into a business auto loan okay you can you can transfer into um a business auto loan with with a business account with any provider that you want and get that off of your personal credit so that way you have that extra DTI available to you so that way you can pivot when you're in business and things don't go smooth and you get smacked in the face and you had a plan and everything changes up and you need to get a backup plan and you are all maxed out on your personal side that's called credit hell that's what many of you are in high utilization right and you're trying to get out of it so how do you get out of it you get into business credit you start a business you start getting tax writeoffs you start saving saving money every single year by being a business owner you start using business credit getting higher business lines not having it affect your personal credit moving things into your business right putting your assets into your business so you can leverage them for secured loans and secured business lines to credit it's all about the business credit okay I'm really trying to break that down to you because I it took me so long to really understand and get this it's all about the business credit and throughout this program you will have everything you need you're not going to have to join other programs out there if there's a topic you want us to cover we'll talk about it right if there's things in the group that you guys guys want to discuss talk about it help each other out okay we only know what we know so that's basically how you apply for the auto loan right um so the type of information you're going to need is all of the above I have this on the slide deck as well okay so you guys can have that and look that over but let's just jump right into our business products all right so let's talk into our our Navy Federal Credit Union business checking account okay once again you can be a Navy Federal member but if you're not not doing business banking with them you're not getting approved for anything you have to first have a Navy Federal checking account business checking account so you can't get the business credit card can't get a business loan can't get get a business auto loan you can't do none of it no equipment loans unless you're first a Navy Federal business checking member okay so that's the first step I have two major videos that have helped a lot of people out I would recommend you look at these videos comment questions that you have I'm going to be back on YouTube in January but other people will definitely answer your questions a lot of people have gotten approvals just off these two videos alone okay so I really break a lot of things down there for you let's talk about this okay you have to be all make sure all owners are individual members of Navy Federal Credit Union if you have a joint partnership with somebody and they're not a member of Navy Federal Credit Union you can't get the account I'll say that again make sure all owners are individual members of Navy Federal Credit Union with accounts in good standing so if you're not in good standing no bueno if your business partner isn't with Navy Federal Credit Union or they're not in a good standing no bueno I put this here because there's so much trash being talked about on YouTube because everybody wants to P pimp Navy Federal right um complete all the following before to step three okay basically you're going to go into your personal Navy Federal Credit Union um account online and you're going to access the business membership pre-application form you're going to complete the business membership pre-application form you're going to apply all the documentation that you need it's all on the website for your business type and have everything ready to reference before you proceed to step three okay this is really old school how they do everything there it's not really like very easy the calls are about an hour long with the business rep you have to make sure you have your ducks in order so you have to download this this uh pre-application form okay you have to have all of your documents together you gotta know your answers that you're going to say because if they don't like your answers you're getting denied over the phone okay all right um and then um you're going to call that number within two business days after compiling all of the step two requirements for a review of your pre-application and then submit all required documents this is a hassle okay it's a hassle I'm getting ready to go through it myself because I'm going for a major run uh fun uh major round of business funding um so this is one of the things that I have to complete before the end of the month um but this is not going to be like a one-day thing right you're going to have to literally go step by step make sure you're paying attention to every detail okay and they're also not 24 hours like the personal side right representatives are available Monday through Friday 9:00 am to 5:00 P PM Eastern Standard Time okay so be mindful of that for West coasters okay because if it's 5:00 your time it's 8:00 their time but you can start your day at 6:00 a.m. if you want that's always fun okay so what documents do you need okay um so let's talk about a sole proprietor okay federal federal tax ID number letter valid business license business permit all that type of stuff partnership that's what you need for that um and then for S corpse and C corpse on the bottom you need to have a good standing certificate okay filed stamped within UH 60 days before the application you need to have your uh uh your your federal tax ID number letter as well your beneficial owner form Representatives will assist in the completion of that form they'll help you out with that um because a lot of this stuff is people are unaware most business owners are just trying to make money they're not compliant okay we're going to do Court uh classes on compliance and business credit as well okay so what is a beneficial owner okay it's a beneficial owner is anyone any individual who directly or indirectly owns 25% of the entity okay now that's also a hack to get business credit funding right is you can have somebody like that that has a really good credit score if they own 25% of the business you can get business credit even if you have horrible credit okay that's a hack for you guys okay a lot of people don't know about that okay and then also what I what I want to let people know is are sole Proprietors required to submit beneficial owner information no sole Proprietors are Le are not legal entities and therefore not required to submit beneficial owner information so can a soulle proprietor get in here yes soulle Proprietors can get into Navy Federal business accounts now what I would recommend is you the I don't recommend Soul proprietorship because you're not protected legally in any form okay I'm a big fan of llc's and I'm also a big fan of business trust okay we're not going to get into all the trust information here but having entities to protect you in your wealth asset protection if you're a sole proprietor and somebody slips on your driveway you could lose everything you have okay we live in a su happppy world I am super protected in every way shape or form with attorneys on standby trust unlock all of that I wish somebody would sue me okay uh they'll be wasting their time I can promise you that um so literally that's going to be some of the information that you're going to need um um and then you can also kind of go through the slide deck to get more of that um I wanted to talk about the Nic CS codes because this is a major reason why people are denied they're at they're working in businesses and industries that are considered high risk cannabis adult industry gambling Trucking a lot of people in trucking can't even get in here I know people that have I know people that haven't okay um but the ni CS code is what qu basically is it it it is um it's what tells the banks and financial institutions what industry is your business in therefore helping assess the credit that they can provide for you and what the risk level is in of what you do okay so I've even had people say Business Consultants get denied right um and so I was I I knew a couple people I was like wow you got denied as a business consultant they're like yeah they're really cracking down on who gets in with the business checking with Navy Federal okay so guys um just know have your paperwork together know the answers if you have other people within your business they need to be members of Navy Federal First and they also need to be available for this application process okay if they're not if you if you're a solo single member LLC you're going to be flying through it if you're solo proprietor you're gonna be flying through it um but I just want you guys to know that that's the reason why people get denied because they're in atrisk Industries and they also have names right so uh we could have like Susan's credit repair right credit repair is a no-o okay so you know funding companies no go you need to have a very generic name right huge Consulting Group you don't know what type of Consulting I do right I mean and you can get an idea that I do Consulting right there's a there's a niche word right there but it could be J KF Enterprise you don't know what that is even about so you want to keep your name generic you want to be in a a a nonh highrisk industry on paper even if you're in a high-risk industry don't put it on paper that you're highrisk all right you got to protect that you got to protect your image so you're like what do you I do have a website have a landing page built out have an 800 phone number these are things that we'll talk about on our compliance calls but you want to make sure that when you're going to the institution that you're presenting a business that is not a risk for them to work with that's the bottom line are you a risk to work with do you have your paperwork together if you don't that's a red flag if you don't know what industry you're in that's a red flag if you're in a high-risk industry that's a red flag if you have bad checking relationship with Navy Federal that's a bad that's a red flag you can be denied off that so as you all can see this is super big they also don't do a credit check for your business credit uh account okay so you guys don't have to worry about that they do not do that uh from what I know and what I've been told if that ever changes that's a different story uh but as of right now they don't do that they will do a credit check for credit products but as far as getting a business bank account with them they won't okay um now let's talk about the go business card because a little bit of things have changed since my last video okay that I did six months ago so let's talk about it um so is there an annual fee for the go business card no there's no ual fee can I take a cash advance on my go business card yes you can do a cash advance up to 30% of your available credit we're going to talk about that though because they won't tell you that you can do more but I'll show you how you can do more is there a fee for cash advances everybody listen up no there's no fee for cash advances so is there cash advance fees no but interest starts occurring immediately just like a line of credit the cash advance APR is only 2% higher than the standard APR so if your APR is 8% your cash advance APR will be 10% that's not horrible ladies and gentlemen that's not horrible okay uh can I obtain credit cards from my employees yes you can how do I obtain convenience checks where you can write a check with the card okay to get convenience checks call this number you're welcome ladies and gentlemen I compiled all this information for you and help you go through it okay the minimum credit limit is 5K the maximum 25k during the underwriting process so can you get a higher limit that's the highest limit with that card 25k that has changed because I knew people with higher limits on that card okay now will my personal credit be checked when I apply for the go business card personal credit scores obtained from Experian are taken into consideration so they're pulling Experian personal they're not pulling Experian business Navy Federal Business Credit Card does not check your business credit so you don't have to have business credit set up okay so they won't check your business credit right it also won't report to business credit and it also won't help you build business credit so it doesn't build business credit it doesn't check your business credit and it doesn't help you build it whatsoever and it don't doesn't report to it and it also doesn't report to your personal credit it's completely off the radar it's kind of like just like the bhg business credit card it's not going to report to either or okay so that could be a good and a Bad Thing depending on how you look at it the good thing is is you're good for utilization so you can go crazy with it the bad thing is is it's not building your business credit but you can have other products to build your business credit I'm just the messenger right I didn't make the rules but I want you to understand that it doesn't report to personal credit which is the key right and it's more credit that you can get so if you have 880,000 in personal credit guess what you can also get the business business side because that doesn't fall under the same rules as the personal so theoretically you could have $105,000 in revolving lines of credit and you could have personal loans and business loans you get what I'm saying so the more the more business you do with Navy Federal the higher internal score the more you can actually qualify for more products with Navy Federal hope that makes sense guys the convenience checks like I said you get a check you can write write that to anybody that you want so you want to pay $5,000 off your credit card boom you can write that check okay it's going to be probably a cash advance which is going to be 2% more than your normal APR that's the bottom line and you do start getting uh interest uring that day versus a 30-day grace period right so when you use your credit card interest doesn't start occurring till after the 30 days that you pay right so does Navy Federal require personal guarantee I know I was going to get this question personal guarantees are what required on all business lending products there is no PG garbage going on here guys listen the biggest lie in the game is no PG biggest line in the game if they're no PG they're charge cards guys and the charge cards usually aren't better than the American Express charge cards I can promise you that divy capital on to these cards are not better than the business gold the business Platinum the business Plum they're not better cards than that okay we get all shiny object syndrome and start applying for all these things our YouTubers are telling us and listen I can make a ton of money Shilling that stuff too I really could but it doesn't help until I see a way that these cards can help people there's no reason for me to talk about them I mean I'm just my Integrity is not for sale so until I can find a way that I can leverage divy for a business whether build if it builds business credit cool I'll talk about it I'm going to research that more capital on top I have it never used it $30,000 limit Okay so I'm just saying this is these business credit cards um that are no PG I'm just not a fan of it I'm not just you can't carry balance with these things and if you do it's a massive interest rate right so I'm all about business lines of credit I'm all about great business credit cards with high limits I'm all about a great banking relationship with banks I'm all about making this thing a marathon not a Sprint I'm all about quality not versus quantity I'm not in this for vanity metrics to show my Lambo with my credit card over the over the headlights you know I'm not into that garbage I'm literally into Building Wealth with this credit okay so um let's look at this if I own more than one business so you have two businesses with them and I'd like to have a gold business card for each business how does that affect the limits of each card your maximum approved limit will be split between the businesses you own or co-own for example you own or co-own two businesses and one of the business already has the go business card it's going to pull from that okay so so you can't just open a business get 25 open another business get 25 it's 25 across your social on the business side okay that is the key with that okay