Unlock Financing Power: Dual Business Credit Cards and Flexible Car Loans with No Documentation Required

Accessing Car Loans for Your New Business with Bank of America

As a Credit Specialist, I'm here to guide you through the process of obtaining up to four car loans and two credit cards for your new business, all with just a single credit inquiry. Here's what you need to know:

Building a Strong Business Credit File

- You don't necessarily need multiple net 30 accounts to qualify. - Authorized users, utilities, subscriptions, and rental payments can help boost your credit score, even if they are not calculated into your official credit file. - Maintaining a healthy debt-to-income ratio (usually up to 50-55%) is crucial.

Required Documentation and Addresses

- You'll need your Articles of Incorporation, EIN, and a business phone number (which can be a Google Voice number). - For your business address, use a physical address rather than a virtual one, as virtual addresses may have been used by others and could lead to denials. - Consider using a commercial storage unit address to start your dealership and obtain a dealership license.

Establishing Trade Lines and Bank Accounts

- Your corporate email is more important than a Dun & Bradstreet number, as it showcases your professionalism. - Aim to have at least 4-5 trade lines, which can be obtained through services like Nav and Fair Figure. - Open a personal checking account, a savings account, and a business bank account, allowing 60-90 days before applying for the car loans.

Navigating the Loan Process

- If your business doesn't have high revenue, they may consider your personal income and may request pay stubs. - Ensure you have commercial insurance for the vehicles, as they can call the loan if they see high mileage or depreciation. Remember, if you have any questions about business credit funding, personal credit funding, or negative item removal, click the link in the description to schedule a one-on-one consultation.

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