Dead Business, Now Thriving But in a Jam

[Anonymous]

This is the kinda response I was looking for. Thing is I’m approved for OnDeck for 50k LOC but it’s at 41.8 APR. now if I use that I guess I can just pay back the company later but the interest is higher than some of my cards. I’ll have to speak to my accountant about that but maybe just maybe. Like you said a skyrocketing score would be huge for me & the business.

LendingClub offered 16% APR but i messed up some documentation and now I have to wait 30 days to resubmit. I missed an email stating that they needed my business bank documents and I thought I had already sent them. We went back and forth so much I forgot to double check so now I have to wait.

[Anonymous]

What creditaddict said! I paid down all my cards after high utilization & my scores jumped 70-80 pts overnight. That opened me up to all kinds of other cards & loans. Take a loan - pay down as much as you can & it will open up many more options. Then pay off the loan early if you can or roll it into something w/lower APR (make sure you have no pre-pay penalty). Look at the credit simulators - your score jumps when you get below utilization brackets of 49%l, 29%, 9% or 0. Lastly, I would wait on a better offer & not that 41% insanity.