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  1. #1

    Loc for start-up with good credit 720+ that has 9 hard inquiries in last 6 mos

    LOOKING FOR A LENDER THAT WILL TAKE A 720+ CLIENT ON A LINE OF CREDIT START-UP FOR ABOUT 50-80k THAT WILL WORK WITH MULTIPLE INQUIRES IN THE LAST 6 MONTHS (9) TO BE EXACT. CAN ANYONE HELP. DIRECT LENDER PLEASE.

  2. #2
    Senior Member Reputation points: 7232 NationalCorporateData's Avatar
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    With the lack of details in this request, no one will be able to give any useful input.

    Inquiries may need to be removed in order get an actual credit line approval. For a true startup, you're likely going to be sequestered to credit card stacking programs where the business owner is personally guaranteeing multiple credit cards to get their desired amount.

    SBA may also be an option if they have 15-20% to put into their request, but it would not be a credit line.
    Last edited by NationalCorporateData; 10-08-2020 at 04:19 PM. Reason: Misread initial post

  3. #3
    Thank you for your response. It would be a true start up and the cc stacking is the route I'm looking for. His utilization is great it's just he's been shopping and those inquiries are what's getting him declined. Just didn't know if there was a lender that worked with something like that. I will look into getting the inquiries taken off. Thank you again for your feedback.

  4. #4
    Senior Member Reputation points: 7232 NationalCorporateData's Avatar
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    You're not going to find any "lender" that does those types of programs since credit card stacking is multiple cards across different banks and credit unions. They're usually shops that mostly focus on that type of program and do a servicing/consulting fee off of the aggregate approval amount (example, 10% of total approved amount).

    Seek Capital, Torro, and OrangeFi are companies we've come across in the past that specialize in it, among other things.

  5. #5
    Ok. Torro or Seek couldn't do it. I will try the other one you mentioned. Thank you again for your advice.

  6. #6
    Senior Member Reputation points: 7232 NationalCorporateData's Avatar
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    They tend to offer the same programs and all use more or less the banks, as far as we've gathered. Utilization and seasoned inquiries are usually the deciding factors on the CC stack program, so it's possibly they'll all give the same feedback on needing inquiries to be removed before anything can be done. Good luck on it.

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