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Business Credit Cards for Start-Ups

Revolving credit
card lines from $5,000 – $80,000. 0% interest for 6 – 12 months, interest rates
starting at 9.99% afterwards.

Business credit cards are the most commonly used form of
financing for small business owners, in fact, there’s not really even a close
second since credit card financing is so far ahead of all other forms of
borrowing in the small business sector. According to the Meredith Whitney
Advisory Group, 82% of small business owners use credit cards as a “vital
part” of their overall funding strategy. Also, according to NFIB, 79% of
small business owners use credit cards.

Whether you’ve just started a small business or you’ve been
at the helm for some time, a business credit card can come in handy. It gives
you easy access to a revolving line of credit that you can use for purchases,
balance transfers or cash withdrawals – when you need them, without hassle or
delay. Take advantage of 0% interest, earn rewards and bonuses, get cash-back
and other perks.

Business credit cards will help you:

Separate your personal and business credit —
Having a business credit card will separate your personal and business expenses
making life way easier at tax time. If you use the card for routine purchases,
you can easily track, categorize, and analyze your expenses through your
monthly statements.

Provide a cash flow cushion — Does your cash
flow ever lag from a decrease in sales or a delay in payments? A business
credit card would let you pay expenses and make purchases – stretching your
dollars without dipping into your cash flow.

Establish and improve your business credit —
There’s an easy way to build your business credit responsibly: small business
credit cards. Just pay your bills on time, keep your balance manageable, and
stay within your credit limit – and before you know it, your business credit
scores will rise.

What you need to qualify:

  • Borrower FICO > 700
  • < 30% utilization on personal credit cards
  • Established Corporation or LLC w/ EIN/Tax ID #
  • Business Revenue ≥ $0
  • Years in Business ≥ 0 years

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What is “Credit Card Stacking”?

A lot of entrepreneurs are skeptical when it comes to using
credit cards to fund their businesses. However, the reality is that startups
and low-revenue businesses simply don’t have a lot of other financing options.

In our industry, applying for multiple credit cards to fund
a business is known as “credit card stacking”. Credit card stacking allows
business owners to tap into the power of multiple credit cards to finance their
business. Our role as a provider is to get you several 0% interest or low-rate
business credit cards whose combined credit limits reach your funding goal.

Here are the basic steps involved with Credit Card

  1. We pre-qualify you based on your personal credit history, personal income, business credit history, and business revenue.
  2. Based on those and a few other important factors, we determine which business credit cards you would qualify for that have the highest limits and lowest interest rates.
  3. We submit applications for those credit cards directly to the lenders on your behalf. Depending on how much money you need, we submit anywhere between 3 and 15 applications.
  4. Most of the cards you qualify for will have 0% interest on purchases and/or balance transfers for 6 – 12 months.

So, you might be wondering why you would need our help to
get credit cards for your business, especially if you have good credit… Here’s
a few things to think about:

Based on our experience, most lenders tend to give small
approvals to new business owners – a $2,500 – $5,000 approval on a business
credit card would be considered “normal” – so if you have excellent credit and
only need $5,000 you can probably figure it out on your own.

But what if you need $25,000… $50,000… or more? It’s pretty
simple – you need to find more lenders and run more applications. The challenge
for most, then, is figuring out which 3, 4, or 10 lenders have the best offers
– and then, do you even qualify? And if you do, in what order do you run the
applications? And how do you do this without destroying your credit?

That’s where we come in…

  • We’ve tracked and compiled data on hundreds of different lenders and thousands of clients since 2009
  • We know which credit bureaus are pulled by each lender so we can properly plan the series of applications for our clients
  • We submit the majority of our applications directly to bank representatives which typically generates larger approvals
  • We only work with lenders that offer business credit cards without requiring full income documentation
  • We only work with lenders that DO NOT report business credit cards to personal credit reports
  • Over 85% of the applications we submit are approved by our lenders
  • Our average client receives between $45,000 and $65,000 with their first set of applications

In addition, here is what you get if you choose to work with

  • Customized strategic plan and lending matrix with hands-on support to achieve desired level of funding
  • Pre-application lender compliance and information verification to ensure accuracy on applications
  • Complete application processing, submission, and follow-up support to ensure the best approvals
  • Capital management strategies – get the most out of your business credit cards (Advisor supported)
  • Phase II & III application processing – access to more funding over the next 6 – 18 months
  • Business Credit Building Fast Track – learn how to build additional business credit with non-PG trade lines

Start Up Line of Credit Short Term Loans Long Term Loans Business Lines of Credit
BitX Funding start-up financing program connects entrepreneurs and business owners with $25,000 – $150,000+ in unsecured business lines of credit. This program can provide you with funding in as little as 10 days and is typically offered with 0% interest financing for the first 6-18 months. Designed to help meet short-term needs, such as unexpected events, or to take advantage of a great deal. Typically, most small business owners qualify. BitX Funding offers true long-term business loans with automatic monthly payments. If you are looking to Fund larger projects that pay back over a longer term with rates as low as 5.49% this option may be right for you? Business lines of credit allow you to draw funds whenever you need. Funds will be deposited directly into your bank account. Repay via automated weekly debits over six months. Your available balance replenishes as payments clear. Lines of credit can go as high as $100,000 with interest rates averaging around 13%.
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BitX Funding is the online marketplace for small business owners looking to fund a project. We specialize in connecting small business owners with lenders who will compete for your business. We believe small business owners drive the economy and we are passionate about helping your company reach its full potential.

You can reach a loan specialist by toll-free at 1-800-824-2407, or email at or applying online here and we can guide you on which loan is the best fit for your business.

The post Business Credit Cards for Start-Ups appeared first on Alternative Small Business Loans.

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