I've been trying to run a photo business for the past few months but word of mouth is proving to not be enough. I really would like to have a budget for advertising and website hosting. Are there any banks that will give a new business a loan of line of credit when income (<$500) has been minimal?
Post

Loan for Starting Up?

1 of 4
3 years ago
Thu Aug 12, 2021 1:14 pm
User avatar
ToxikPH
Rebel AdministratorProbably Applying for New Cards
Recent HP or new account.
Level0 Last INQFriday, August 23, 2024 Gardening For15 days, 20 hours, and 9 minutes Next Level in15 days, 3 hours, and 51 minutes on September 23rd INQ 1yr onSaturday, August 23, 2025 INQ 1yr in11 months, 15 days, 3 hours, and 51 minutes INQ 2yr onSunday, August 23, 2026 INQ 2yr in1 year, 11 months, 15 days, 3 hours, and 51 minutes Goal6 months Goal DateSunday, February 23, 2025 Goal In5 months, 15 days, 3 hours, and 51 minutes
I've been trying to run a photo business for the past few months but word of mouth is proving to not be enough. I really would like to have a budget for advertising and website hosting. Are there any banks that will give a new business a loan of line of credit when income (<$500) has been minimal?
ToxikPH
User avatar
Rebel Administrator
0
Top
Post

Re: Loan for Starting Up?

2 of 4
3 years ago
Sat Aug 14, 2021 9:52 am
User avatar
GApeachy
Seasoned Rebel
GApeachy has passed the 12 month threshold!
No scorable inquiries on file!
Level13 Last INQMonday, August 7, 2023 Gardening For1 year, 1 month, 20 hours, and 9 minutes Next Level in29 days, 3 hours, and 51 minutes on October 7th INQ 1yr onWednesday, August 7, 2024 INQ 1yr reached1 month, 20 hours, and 9 minutes ago INQ 2yr onThursday, August 7, 2025 INQ 2yr in10 months, 30 days, 3 hours, and 51 minutes Goal24 months Goal DateThursday, August 7, 2025 Goal In10 months, 30 days, 3 hours, and 51 minutes
Have you considered SBA?
GApeachy
User avatar
Seasoned Rebel
  • Score data EX8: 765/ TU: 765/ EQ: 764
0
Top
Post

Re: Loan for Starting Up?

3 of 4
3 years ago
Mon Nov 08, 2021 7:33 pm
A default user avatar.
mickvain
Authorized Rebel
I know this reply is late, but have you looked into Kabbage at all? They were acquired by AMEX last year. They do offer BLOC’s (up to $150k)as well as unsecured business loans. I received an offer through my AMEX account to setup an account with them about a week ago. Have submitted paperwork to verify business (IRS EIN letter, business license). Still waiting as they say 5-7 business days to review. Will post more when the process is complete.

They do offer 1.1% APY on checking accounts up to $150k as well as a $300 SUB with new accounts (5 Debit card transactions within 45 days). Not too shabby!
mickvain
A default user avatar.
Authorized Rebel
  • Score data EX8: 739 TU8:762 EQ8: 740
1
Top
Post

Re: Loan for Starting Up?

4 of 4
3 years ago
Sat Nov 13, 2021 5:35 pm
User avatar
Birdman
Primer AuthorCo-Founder
Birdman has been gardening for over 2 years.
Level30 Last INQWednesday, March 2, 2022 Gardening For2 years, 6 months, 5 days, 20 hours, and 9 minutes Next Level in24 days, 3 hours, and 51 minutes on October 2nd INQ 1yr onThursday, March 2, 2023 INQ 1yr reached1 year, 6 months, 5 days, 20 hours, and 9 minutes ago INQ 2yr onSaturday, March 2, 2024 INQ 2yr reached6 months, 5 days, 20 hours, and 9 minutes ago
@mickvain One more post and I think you can put up your card images! Move up those ranks!
Birdman
User avatar
Primer Author
  • Score data EQ8-827; TU8-817; EX8-816
    EQ5-751; TI4- 800; EX2-814
0
Top
Sorting 

Return to “Business Credit”

Processing