Looking to get a business, auto, or personal a loan?
Then stop doing this:
Applying to multiple places: everytime you apply it reduces your credit score, by the time you hit 3 plus credit pulls you are an automatic turn down buy banks and private lenders.
Even though soft pulls do not show up on the credit bureaus they DO SHOW UP to private lenders and banks. Stop applying for so many “soft pulls” if a lender (both private & banks) see to many soft pulls you are an automatic turn down.
Do this:
Check your credit score before you start applying for any loans (business or personal). Places like www.creditchecktotal.com will give you all 3 bureaus. You get free (annually) your credit report from Experian, Equifax, Transunion. Fix any mistakes or provide explanations to any negative information.
Do a budget. It gives you you your free dollar amount available. Banks and lenders look at cash flow and the ability to repay the debt. So make it realistic on how much you ask for and what you can really afford.
Do your homework on lenders you are applying for, not all lenders provide the same loans. Look at each lender and who they typically lend to, dollar amount minimum and maximum, terms, rates, and any other requirements they may have…like a minimum FICO score, income, how long employed, how long in business etc.
It is very difficult to get a loan in todays environment, the better prepared you are the better the odds of getting that loan.
Lendingapital.net offers 2 very unique solutions for business and personal loans. Our “Search Program” for personal loans offers 40 plus lenders and banks with one single soft pull in 60 seconds or less without affecting your credit.
Our business search program offers a vast universe of lenders and banks that we research and find the best match for your business without affecting your credit.
Be Prepared-Be Informed-Be Smart-Be ready
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