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New Contributor
Posts: 52
Registered: ‎01-22-2017
0

Chase business line of credit and NFCU business products

Folks, 

I had a succesful app spree starting end of Jan with boa, chase,amex,penfed and nfcu.

and added  Chase  business account and Ink visa[22K] and NFCU business accounts in March.

got ploc and cloc from penfed-25k and nfcu - 15k.

 

Chase business called me to let me know that they could give me a Business LOC for about 80K.

Anybody here have an experience of getting chase buisness LOC?

 

i am definitely going to apply for NFCU business products after I try to get another penfed card on 20th April[trying to use the earlier hard pull within 90 days.].

 

so my plan of action is;

-get penfed new card

-get penfed CLI on first card[ should i avoid it  ?-i have 17.5K sl]

-apply for chase business LOC 75K

-apply for NFCU business products - full 50K

 

looking for advise.

any other good LOC products out there?

 

thanks.

 

credit available 258k

aoa 7 years 6 months

utilization 6%

ex 771

tu 734

eq 755

 

 

 

 

Valued Contributor
Posts: 2,066
Registered: ‎01-10-2016
0

Re: Chase business line of credit and NFCU business products

I was actually just looking into a Buisness LOC through Chase since they approved a 17K Marriott Business visa. Very interested in what others have to say on this post!.
Contributor
Posts: 100
Registered: ‎03-11-2017
0

Re: Chase business line of credit and NFCU business products

Congrats. That's really high limit from Chase. Do you mind sharing data points?
Contributor
Posts: 100
Registered: ‎03-11-2017
0

Re: Chase business line of credit and NFCU business products

I am sorry. I meant to ask about your business turnover, if you don't mind.
New Contributor
Posts: 52
Registered: ‎01-22-2017
0

Re: Chase business line of credit and NFCU business products

If you are asking me, Turnover is 500K per year ..profit of 20K per year

Contributor
Posts: 100
Registered: ‎03-11-2017
0

Re: Chase business line of credit and NFCU business products

That's nice. We have 2.3 million turnover and 100k profit. But we have loan from on deck and invoice factoring from fundbox. So, Chase banker we are speaking to said it's hard to get new loan but she said she will try loc for 90k. Will update you guys once they come back.
Highlighted
New Contributor
Posts: 52
Registered: ‎01-22-2017
0

Re: Chase business line of credit and NFCU business products

Update on plan and action :

 

-get penfed new card

Applied on phone for new penfed power cash rewards visa on day 84 of first HP.

CSR came back with conditional approval,emailed tax returns ,called back in 1 hour-approved for SL 8K .

 

-get penfed CLI on first card[ should i avoid it  ?-i have 17.5K sl]

waiting on this one.Maybe another month

 

-apply for chase business LOC 75K

Spoke with chase business loan officer ,will apply after completing 2016 returns in June 2016.

 

-apply for NFCU business products - full 50K

Emailed the application for 50K-all 3 products.Waiting now. 

New Contributor
Posts: 52
Registered: ‎01-22-2017
0

Re: Chase business line of credit and NFCU business products

update folks.

 NFCU 3 biz products approved for 42500.

 

next stop Chase Business LOC

 

 

Frequent Contributor
Posts: 269
Registered: ‎04-16-2015
0

Re: Chase business line of credit and NFCU business products


choices2017 wrote:

update folks.

 NFCU 3 biz products approved for 42500.


 

 


what was the breakdown on the NFCU products as there are more than 3 products available?

 

New Contributor
Posts: 52
Registered: ‎01-22-2017
0

Re: Chase business line of credit and NFCU business products

i was aware of only 3.

cc- 15k

bus loan-17.5k

bcloc-10k

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