Business Line of Credit Without a Personal Guarantee - Business Credit 2019

How do you get a business line of credit without a personal guarantee? In this video you will discover which lender offers a business credit line line with no personal guarantee.

In order to qualify for a business line of credit for your business requires that your business be at least six months in operation.

To apply for a business line of credit with no PG go to http://bankbusinessline.com

What is a personal guarantee? A personal guarantee is a written promise from a business owner guaranteeing that payment will be made in the event that the business fails to pay. When a personal guarantee is not required on a business line of credit it means you are not personally liable for the line of credit if the business fails to pay.

The easiest way to acquire a credit line for your business without having to supply a personal guarantor is with an alternative lender. Alternative lenders offer funding options to business owners outside of a traditional bank loan or line of credit.

They asses a business for a loan or line of credit based on other factors than traditional banks. Such as bank deposits, social media accounts, Amazon sales, Paypal sales, etc.

Unfortunately, many alternative lenders require personal credit checks, a personal guarantee and some have revenue requirements as well. One particular lender that we cover in this video does not require a PG or personal credit check.

Their approval process is based only on the company’s bank deposit activity. This allows a business to acquire a business line of credit without a personal guarantee even if the company is only six months old and doing minimal revenues.

Some of the benefits of this type of line of credit for business are as follows: No origination fees, maintenance fees or inactivity fees. You can draw up to 100% of the credit limit in cash only when you need it

With this business credit line you only pay for what you use. Also, when you draw funds from your line of credit online (funds deposited in 24 hrs.)

Any outstanding balance can be paid back immediately or over 6-month terms with no restrictions on how you use funds. You can also draw funds multiple times up to your credit limit

Update for this lender: At the end of the application the lender may ask you for the last 4 digits of your SS number. They may pull a soft inquiry which does not hurt your credit. This allows them to potentially offer you a larger credit limit. Only the first time you draw funds do they conduct a single hard inquiry with one bureau. All additional draws on your credit line result in no personal credit checks.

For more details on how to get a business line of credit without a personal guarantee check out the following websites below.

https://youtu.be/nbmFcmvKhkY
http://bankbusinessline.com
https://businesscreditblogger.com/2017/05/16/new-business-line-credit/
https://businesscreditbuilders.org/
https://businessfundingengine.com/