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 10 minutes Next Level in15 days, 3 hours, and 50 minutes on September 23rd INQ 1yr onSaturday, August 23, 2025 INQ 1yr in11 months, 15 days, 3 hours, and 50 minutes INQ 2yr onSunday, August 23, 2026 INQ 2yr in1 year, 11 months, 15 days, 3 hours, and 50 minutes Goal6 months Goal DateSunday, February 23, 2025 Goal In5 months, 15 days, 3 hours, and 50 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 10 minutes Next Level in29 days, 3 hours, and 50 minutes on October 7th INQ 1yr onWednesday, August 7, 2024 INQ 1yr reached1 month, 20 hours, and 10 minutes ago INQ 2yr onThursday, August 7, 2025 INQ 2yr in10 months, 30 days, 3 hours, and 50 minutes Goal24 months Goal DateThursday, August 7, 2025 Goal In10 months, 30 days, 3 hours, and 50 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 10 minutes Next Level in24 days, 3 hours, and 50 minutes on October 2nd INQ 1yr onThursday, March 2, 2023 INQ 1yr reached1 year, 6 months, 5 days, 20 hours, and 10 minutes ago INQ 2yr onSaturday, March 2, 2024 INQ 2yr reached6 months, 5 days, 20 hours, and 10 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