Post a new topic
    0 Replies Latest reply on Oct 10, 2010 12:07 AM by Spiderman476

    Getting a business line of credit using only you EIN number.

    Spiderman476 Newbie

      Are there any lenders out there that are giving business lines of credit to people with a legitimate L.L.C. using just your EIN number and without needing all this other stuff in place to be considered?
      1. State Records, Your entity must be open, active and in good standing.

      2. Federal EIN, Your Employer Identification number filing must match your state filing exactly.

      3. Bank Account, The day you open your business bank account is the day your business starts.

      4. Business Licenses, All applicable business licenses must be filed.

      5. DBA, any dba's must be on all state/federal/banking records.

      6. Separate business phone, Your business must have its own phone number.

      7. 411 Directory, business phone number must be listed with 411 under the exact legal name.

      8. Experian, File must be open with a credit history and good score.

      9. Dun & Bradstreet, File must be open with a credit history and good score.

      10. Equifax, File must be open with a credit history and good score.

      11. Business Credit Histories, No lates or derogatories on the business reports.

      12. Physical Address, The business needs its own physical address.

      13. Bank Rating, Your business bank rating should be a minimum of a low 5.

      14. Tax Returns, All applicable business tax returns must have been filed.

      15. Public Records, There can be no liens, judgments, lis pendens against the business.

      16. Credit Cards, at least 3 business credit cards with payments made early.

      17. Vendor Credit, at least 5 vendor lines of credit with payments made early.

      18. Comparable Credit, a larger loan from a non-bank lender with payments made early.

      19. Bank Loan, Securing a small bank business loan with payments made early.

      20. Business Model, A summary of your business plan with revenue projections.