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1:29English(auto-generated)6 segments236 words · 1 min read

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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.

State Small Business Credit Initiativeno-doc programs for businessesCapital Access ProgramLoan Guarantee Programfunding for small businessessocially disadvantaged business fundingbusiness credit accessEIN and LLC requirements

Chapters

  1. 0:00Introduction to Funding Programs
    01
  2. 0:10Overview of No-Doc Programs
    02
  3. 0:25Capital Access Program Explained
    03
  4. 0:40Loan Guarantee Program Details
    04
  5. 0:55Eligibility Requirements
    05
  6. 1:10How to Access Business Credit
    06
  7. 1:20Conclusion and Call to Action
    07

Transcript

0:00

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

0:22

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.

0:41

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

0:59

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.

1:22

And all you have to do is comment EIN right here. I'll send you the full walkthrough.

1:26

I'll send you the full walkthrough.

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