New Business Approvals

[THMMB]

Long time lurker, first time poster.

I've had my side hustle doing ERP Engineering and Developer work since Dec 2020.  Finally decided it was time to get it on paper.  Established my LLC 12/2023.

Approved for:
AMEX BBC - $25,000 - $500 SUB - SP (Existing AMEX relationship back to 2006)
AMEX BLOC - $27,000
INK BUSINESS UNLIMITED - $21,000 - $900 SUB (HP on EX)
BILL.COM (DIVVY) - $12,000 (SP)
USBANK - BUSINESS CASH - $25,000 (SP on EX) ETA:TIL - They DO hold my Personal/Wealth Management/Trust/Estate.... May have played a part here? *shrug*

[firefox100]

Congraulations happy new year, enjoy it have fun.

[URHomeInvestments]

Nice to have that formalized in a new entity.  Great set of cards you have there, too.  Here's to a successful 2024!

[SouthJamaica]

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@THMMB wrote:

Long time lurker, first time poster.

I've had my side hustle doing ERP Engineering and Developer work since Dec 2020.  Finally decided it was time to get it on paper.  Established my LLC 12/2023.

Approved for:
AMEX BBC - $25,000 - $500 SUB - SP (Existing AMEX relationship back to 2006)
AMEX BLOC - $27,000
INK BUSINESS UNLIMITED - $21,000 - $900 SUB (HP on EX)
BILL.COM (DIVVY) - $12,000 (SP)
USBANK - BUSINESS CASH - $25,000 (SP on EX)

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Congratulations on the approvals. Sounds like you're off to a great start.

Watch out for that Amex BLOC, though. In my opinion it's (a) not a true line of credit and (b) way way overpriced.

[BKDMMG]

Congrats!! Happy New Year!

Could you share some of your data points? (Personal FICO scores, utilization %, # of Inquiries per CRA in last 3m, 6m, 12m, 24m, etc?)
Thanks! And again, congratulations!

[THMMB]

FICO 8s are 850 across the board (no... not exaggerating.  LITERALLY.. 850s haha)  I had a BK7 in 2008.  Learned a very valuable lesson.  Also learned how mantain optimum scoring.
Other versions hover around 830-845.  Age is ~10 years.  Oldest line is ~46 years, even though I'm only in my 30s. Haha.  Newest is greater than 2 years ago.
Reporting util is under .1% - Almost ~$1Mil available.
I do have a mortgage reporting.
3 Inqs on EX (almost ready to age off), 0 on TU and EQ.
Personal income is 6 figure, so is business.

[THMMB]

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@SouthJamaica wrote:

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@THMMB wrote:

Long time lurker, first time poster.

I've had my side hustle doing ERP Engineering and Developer work since Dec 2020.  Finally decided it was time to get it on paper.  Established my LLC 12/2023.

Approved for:
AMEX BBC - $25,000 - $500 SUB - SP (Existing AMEX relationship back to 2006)
AMEX BLOC - $27,000
INK BUSINESS UNLIMITED - $21,000 - $900 SUB (HP on EX)
BILL.COM (DIVVY) - $12,000 (SP)
USBANK - BUSINESS CASH - $25,000 (SP on EX)

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Congratulations on the approvals. Sounds like you're off to a great start.

Watch out for that Amex BLOC, though. In my opinion it's (a) not a true line of credit and (b) way way overpriced.

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It's there.... "because".  I knew what I was getting into when I accepted it.  Haha.
Only took it because of the pre-approval pop-up, and because I was on a roll with the Approvals.  Didn't take it to use.  

[phumanr]

Congrats! Those are great starting lines for your business. I have goals for your 850 scores! Well done! 

[THMMB]

Few more bits to add here:

CreditKey - $25,000

BestBuy Business Advantage - $10,000 Net30

NewEgg Business - First DECLINE.  No rhyme, reason, or explanation *shrug*.  Just "let us know if your financials improve in the next 90 days"

BHG Business - $155,000 12 Years

For having just put the business "On Paper" in late December... The Business Credit just seems to be rolling in.  I thought it'd be more difficult than this.  And FWIW - These have all been no docs.

I am open to suggestions on Fresh Small Business friendly auto lenders?  Direct, indirect, captive... Doesn't matter.  Would like to keep it off of Personal, though.  Any insights? 

Thanks all!

[Kasuito39]

Congrats on your business approvals.