topic Re: Approved for a few net 30's for new Biz! in Business Credit

Approved for a few net 30's for new Biz!

pizza1 — Sat, 03 Mar 2018 03:56:54 GMT

Hey everyone, so, yesterday I filed my AOA (LLC) with my state, filed for state sales tax, and got my EIN. First two accounts out of the gate were Uline and Quill....dont know limits, but got emails this morning from both that my orders have shipped..... excited that they approved me without paying order first.

Tried my luck with Citi and Synch (Shell business gas card, and Amazon net 55)....declined, Im assumming because I have letters coming. Could be that I dont have anything yet on DUNS or any business reports. No big deal, I literally was only legal for like 15 min before I applied. LOL Moving on...

I still need to get a business phone line, and a checking acct. Im going to try my luck with Navy on their Biz side for business checking, and see what happens. I filled out all their paperwork etc... just need to send it. Ill keep everyone posted

Ill also be looking for a local business checking too...looking at USB and BOFA. So, all in all, moving forward, and excited!

Re: Approved for a few net 30's for new Biz!

B335is — Sat, 03 Mar 2018 04:15:15 GMT

Congrats pizza! Goodluck with Navy, they're goofy with biz accts.

Re: Approved for a few net 30's for new Biz!

pizza1 — Sat, 03 Mar 2018 04:24:49 GMT

@B335iswrote:
Congrats pizza! Goodluck with Navy, they're goofy with biz accts.

Thats what Ive read. Their biz side is completely different from personal side, and we dont see hardly any posts about them on biz side, and from what I have seen, they werent very good. Im hoping to change that! LOL

I filled out their lonnnnggg business membership application ($100 to open), and also their paperwork for business credit. I asked for Visa $10k, will see what happens of anything. (fingers crossed!)

Re: Approved for a few net 30's for new Biz!

woodyman100 — Sat, 03 Mar 2018 18:43:02 GMT

Looks like we are tracking the same on NFCU.

i was approved for the checking account last week and went in branch to upload the credit app.

asked for $10k/card and $5k/loc.

fingers crossed for both of us

Re: Approved for a few net 30's for new Biz!

shoegal — Sun, 04 Mar 2018 03:01:35 GMT

@pizza1wrote:
Hey everyone, so, yesterday I filed my AOA (LLC) with my state, filed for state sales tax, and got my EIN. First two accounts out of the gate were Uline and Quill....dont know limits, but got emails this morning from both that my orders have shipped..... excited that they approved me without paying order first.

Tried my luck with Citi and Synch (Shell business gas card, and Amazon net 55)....declined, Im assumming because I have letters coming. Could be that I dont have anything yet on DUNS or any business reports. No big deal, I literally was only legal for like 15 min before I applied. LOL Moving on...

I still need to get a business phone line, and a checking acct. Im going to try my luck with Navy on their Biz side for business checking, and see what happens. I filled out all their paperwork etc... just need to send it. Ill keep everyone posted

Ill also be looking for a local business checking too...looking at USB and BOFA. So, all in all, moving forward, and excited!

Congrats Pizza! I’m also in the process of getting my paperwork ready for Navy Biz but I’m waiting to submit it when my UTIL is under 28% and TU goes back up to 690. Also, I’m waiting for my reports to update everything. Any day, now! 😂🤣

Re: Approved for a few net 30's for new Biz!

Anonymous — Sun, 04 Mar 2018 12:55:45 GMT

Cingrats Pizza on the business lines and good luck with NFCU

Re: Approved for a few net 30's for new Biz!

pizza1 — Sun, 04 Mar 2018 15:37:45 GMT

@shoegalwrote:
@pizza1wrote:
Hey everyone, so, yesterday I filed my AOA (LLC) with my state, filed for state sales tax, and got my EIN. First two accounts out of the gate were Uline and Quill....dont know limits, but got emails this morning from both that my orders have shipped..... excited that they approved me without paying order first.

Tried my luck with Citi and Synch (Shell business gas card, and Amazon net 55)....declined, Im assumming because I have letters coming. Could be that I dont have anything yet on DUNS or any business reports. No big deal, I literally was only legal for like 15 min before I applied. LOL Moving on...

I still need to get a business phone line, and a checking acct. Im going to try my luck with Navy on their Biz side for business checking, and see what happens. I filled out all their paperwork etc... just need to send it. Ill keep everyone posted

Ill also be looking for a local business checking too...looking at USB and BOFA. So, all in all, moving forward, and excited!

Congrats Pizza! I’m also in the process of getting my paperwork ready for Navy Biz but I’m waiting to submit it when my UTIL is under 28% and TU goes back up to 690. Also, I’m waiting for my reports to update everything. Any day, now! 😂🤣

@shoegal, I dont think it really matters with Navy, but since its the biz side, it might be different. Looks like you, me, and @woodyman100, are all wanting this, so fingers crossed for everyone!! Kepp us updated too on outcome, good or bad!

Re: Approved for a few net 30's for new Biz!

pizza1 — Sun, 04 Mar 2018 15:39:31 GMT

@Anonymouswrote:
Cingrats Pizza on the business lines and good luck with NFCU

Thanks @Anonymous! There are three of us right now trying to get in on biz side. Me, @woodyman100 @shoegal, so hopefully we will see some success from someone

Re: Approved for a few net 30's for new Biz!

woodyman100 — Mon, 05 Mar 2018 20:52:36 GMT

@Pizza1

Got the call today.

Approved for the CC $10k at 11.4%

Approved for the BLOC $5k at 14.9%

Should have it all set up in the next couple of weeks

Re: Approved for a few net 30's for new Biz!

Anonymous — Mon, 05 Mar 2018 23:49:52 GMT

@Woodyman, Hey did you JUST start your compnay also? and to be clear you DIDNT offer tp PG Navy?

Re: Approved for a few net 30's for new Biz!

shoegal — Tue, 06 Mar 2018 03:28:44 GMT

@woodyman100wrote:
@pizza1
Got the call today.
Approved for the CC $10k at 11.4%
Approved for the BLOC $5k at 14.9%
Should have it all set up in the next couple of weeks

Congrats woody! Did the pull TU for all three? And if you don’t mind can you give us data points? Also, did you apply with membership or after having your biz bank account with them?

I’m going to setup mine too. I just noticed they asked for biz license and I need to renew mine this week before applying.

Re: Approved for a few net 30's for new Biz!

pizza1 — Tue, 06 Mar 2018 03:35:29 GMT

@woodyman100wrote:
@pizza1
Got the call today.
Approved for the CC $10k at 11.4%
Approved for the BLOC $5k at 14.9%
Should have it all set up in the next couple of weeks

@woodyman100, thats super fantastic!!! you should post it in the biz section for data points for others!! List out your data as well, scores, time it took, etcc...congrats to you!!

Re: Approved for a few net 30's for new Biz!

woodyman100 — Tue, 06 Mar 2018 04:41:21 GMT

Just formed the LLC in mid Jan this year.

I did PG the card. I think it was required actually.

I’m going to rehab and hold some real estate

Re: Approved for a few net 30's for new Biz!

woodyman100 — Tue, 06 Mar 2018 04:44:47 GMT

I don’t think the liscence is necessary.

i honestly think they went from personal credit profile and nothing else.

Did get a call from a different rep though who asked if I needed any products over 50k.

I said maybe later

Re: Approved for a few net 30's for new Biz!

pizza1 — Tue, 13 Mar 2018 05:12:44 GMT

Just an update....

for the heck of it, tonight I decided to try to "search" for my business on EQ, EX, and DUNS just too see if Ive populated over there yet.

EQ and DUNS didn't show my biz, no record of it.

EX DID show my business, and underneath my name in a yellowish box said "tradelines", meaning I have tradelines showing on my EX report already.

I incorporated on 3/1/18 with the state, and obtained my EIN on same day. Also that same day, I placed orders with Quill, and Uline. Their invoices were paid 4 days after they were submitted to me by email, and my accounts were updated online accordingly.

I didn't pay money to pull my EX biz report, but Im assuming one or both of those net 30 accounts reported already???

Just because Im super curious on the Biz side and how it all works, I'll probably wait till July/August to pull the report to see what's on it, and how its reflective of my payment history with them.

I just thought it was fast that my Business is already showing up EX business, but not D&B. Im also NOT dealing with D&B, they are kinda old school anyways, and Im just waiting for my DUNS # to auto-populate.

Re: Approved for a few net 30's for new Biz!

601flyguy — Thu, 15 Mar 2018 15:56:50 GMT

Congrats. Ive been in business for years as a sole prop. Im about to go llc as well. I was concerned about the business being new but it doesn't seem to matter much

Re: Approved for a few net 30's for new Biz!

SouthJamaica — Thu, 15 Mar 2018 18:55:08 GMT

@601flyguywrote:
Congrats. Ive been in business for years as a sole prop. Im about to go llc as well. I was concerned about the business being new but it doesn't seem to matter much

I think it matters with most lenders, but it appears that NFCU is -- just as it is on the personal side -- a bit friendlier than the typical financial institution.

Re: Approved for a few net 30's for new Biz!

SouthJamaica — Thu, 15 Mar 2018 18:56:52 GMT

@B335iswrote:
Congrats pizza! Goodluck with Navy, they're goofy with biz accts.

They seem ok to me. Most business lending is a little sticky.

Re: Approved for a few net 30's for new Biz!

shoegal — Thu, 15 Mar 2018 20:50:33 GMT

Hey Pizza! Just wanted to let you know that I open my biz bank account with NFCU, today. The process was super easy. I submitted my application online yesterday (uploaded the documents), and they called me today to verify my identity and tell me that the bank account was open and ready. I only submitted my DBA since my new biz license has not arrived, yet. And, they were fine with that. I'm applying for the card and line of credit tomorrow and will update and make a new post with the results.

Re: Approved for a few net 30's for new Biz!

601flyguy — Thu, 26 Apr 2018 06:21:22 GMT

Were you both already nfcu personal customers? How are you liking the business side? I believe i will be going with first financial bank since i already have their 4% kasasa. They just want my SS-4 and certificate of formation for business account.
Any other business banking options that arent a hassle/HP?