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TL;DR
Learn about the State Small Business Credit Initiative and how small business owners can access funding programs designed for them.
Chapters
- 0:00Introduction to Funding Programs01
- 0:10Overview of No-Doc Programs02
- 0:25Capital Access Program Explained03
- 0:40Loan Guarantee Program Details04
- 0:55Eligibility Requirements05
- 1:10How to Access Business Credit06
- 1:20Conclusion and Call to Action07
Transcript
A lot of people don't know this, but banks are required by law to offer no-doc programs for small business owners who are looking to start or scale their business. It's called the State Small Business Credit Initiative. $10 billion every year gets distributed to all 50 states and they have to give that money
out to small businesses owned by socially and economically disadvantaged people. That's us. The only requirement is that the business has to have less than 10 employees. This program is broken down into 5 categories depending on the type of funding you need.
But I suggest you only focus on 2 of them. There's the Capital Access Program. That's for startups, people who are at the beginning stages of starting their business. And then they have their Loan Guarantee Program. That's for people who have trouble qualifying through traditional methods. The government will vouch for you. It's very similar to how the SBA programs work where the government guarantees the loan
so that the lender feels more comfortable giving it to you. This program is available in every state. If you have a minimum 540 credit score along with an LLC and EIN, I can walk you through how to access $250K of business credit while using a trust to maintain your privacy.
And all you have to do is comment EIN right here. I'll send you the full walkthrough.
I'll send you the full walkthrough.
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