[John Galt]

Just cancelled with a broker who didn't know what he was doing....,.Had 0 int corp and personal cards for 9 mos. and a months revenue numbers with past credit underwriting...Anyone know?

[RichardGerard]

John,

Go to nerdwallet.com and check out business credit cards..

Avoid Wells, Discover, and Capital One as they report to personal credit.. Check into US Bank, Chase, Citi, Amex Blue, Commerce Bank etc...

[sbaguy]

John,
Credit lines are not my primary business, but I have helped many of my clients get business LOC's. In additional to the well-known nationwide banks, I have also had success with some of the other regional banks. For example, if the borrower is located in a state that has a 5/3 bank presence, then I would start with them. I have seen them give approval for LOC’s in excess of $20,000 to start out with. That said, the last time I did this I had to have the client call in to 5/3 because you couldn’t apply online. It wasn’t a big deal for me because I do not charge my borrower for this service. I would imagine that you could call in with your client a 3-way call to help them through the process. Additionally, I have had excellent success with PNC Bank. Some of the national banks that I have had success with is Bank of America, Citi (I had a few clients that I got the Citibusiness Thankyou card and received a health size LOC, but I could not find it on their website. From what I read, you may have to call in to see if its still available.), Barclays, and Chase. I would agree with Richard in respect to US Bank as well. I had 2 clients that had luck by applying to BOA and US Bank on the same day, and then called in to request a credit line increase (both were approved). I know its not always possible, but if the borrower can pay down their personal utilization to under 20% they will likely have far better success. I'm sure you already know this, but if they pay down their balances remind them to wait until it reflects on their credit report before they apply for the new cards. I realize most say anything below 30% utilization is considered good, but I am speaking from my experience of what has worked best from my clients. Good luck.

[Karen37a]

29.99% and under ...30% dings you

24.99% =25

19.99%-20

[christian04]

We can do personal cards where the first 12 months interest free then jumps up to 11.99-15.99 second year. These can work as a line of credit as you can convert to cash with no penalty.