I dont know what else to do . I have provided both my business license and EIN letter , and im a sole prop so those things are not even required. i have no idea what the issue is. This is the second time they denied me for this reason. i go through the whole process see my credit limit and then bam denial because of this reason. Any suggestions (and yes i have above an 80 for paydex and experian)
@mfinsmi1 wrote:I dont know what else to do . I have provided both my business license and EIN letter , and im a sole prop so those things are not even required. i have no idea what the issue is. This is the second time they denied me for this reason. i go through the whole process see my credit limit and then bam denial because of this reason. Any suggestions (and yes i have above an 80 for paydex and experian)
I would get on the phone with them and ask them what they're looking for.
Or I would drop them and go somewhere else.
How old is your EIN and first D&B report for your business (i apped at 6 months on paper but freelance since 2005)? When I was declined I called and the rep suggested I try again after my reports aged x2 years minimum to show my business is established and less risk.
It may also be relative to the type of business as well when it comes to established trust length. It wasn't until after I mentioned I'm 100% online that the rep sighed and was like... oooooohhhh, I see, well...... lol
@SouthJamaica the only reason i dont want to give up is because their approvals are soft pulls @Drifter73 that may be the reason why im a sole prop since 2020 but i didnt have an EIN or business credit scores until this summer so i guess my business may be too new in their eyes.... i guess ill try again after 2 years because my pending approval was almost 15k , a little sour about getting denied after seeing what my limit would have been lol
@mfinsmi1 wrote:@SouthJamaica the only reason i dont want to give up is because their approvals are soft pulls @Drifter73 that may be the reason why im a sole prop since 2020 but i didnt have an EIN or business credit scores until this summer so i guess my business may be too new in their eyes.... i guess ill try again after 2 years because my pending approval was almost 15k , a little sour about getting denied after seeing what my limit would have been lol
I don't think you should give up without getting on the phone with them and finding out what more they would need.