7 Business Credit cards that DON’T need your SSN for Approval

     If you have a bit of cash flow coming into your business bank account (If you don’t we show you how below at a minimum of cost) and any bank starts asking you for:

• 2 years of taxes
• Income statements paystubdepot.com
• SSN

and you don’t want to provide it, then the following 7 business credit cards don’t need your SSN for approval:

NEW BUSINESS CREDIT CARDS

1. Stripe Corporate Card: Stripe Corporate Card
2. Brex Corporate Card: Brex Corporate Card
3. Office Depot Business Credit Card: Office Depot Business Credit Card
4. Shell Business Credit Card: Shell Business Credit Card
5. Ramp Credit Card: Ramp Credit Card
6. Hatch Credit Card: Hatch Credit Card
7. Sam’s Club Business MasterCard: Sam’s Club Business MasterCard

In order to start showing cash flow into your business set up a credit card processing account and put a Consulting service or any type of digitally delivered service for the amount of money that you want to show coming into your business bank account.

Here are some recommended credit card processing accounts for new businesses:

Credit Card Processing Accounts:

1. Square: Square
2. PayPal Here: PayPal Here
3. Stripe: Stripe
4. Shopify Payments: Shopify Payments
5. SumUp: SumUp

Then If you don’t have much money or an active product or service that you’re selling on the website that’s getting traffic and conversions then you can have your friend or another business that you know pay your company through your website so the deposits show up and your business bank account.

If you give your friend the money back all you will be paying is any type of processing fees associated with your merchant processing account Which is usually around 2.5% on average.

So if you’re wanting to show $2,500 a month coming into your business on 6 different transactions You would pay $62.50 total for all transactions at 2.5% transaction rate on an average payment to your company of $416 (give or take whatever the product or service that you’re selling charges for those amounts).

If you do that for 1-2 months where you’re receiving two or three payments from other people or companies consistently per month then it will be much easier to get approved for the bank cards above.

• Do you need to implement the strategy above and already have a Business website?
• Did you purchase a business build-out package from us?

If so, let us take care of the site processing and offer setup so you can start processing into your business bank account ASAP to start creating the business banking history necessary for business credit card approvals.

Other options for company funding include but are not necessarily limited to:

PLEDGE LOANS

“Pledge loan’s” Where your business savings account secures a loan.

An example would be that you deposit From $500 to $3,000 or more into your business or personal savings account and then call the bank and ask them for a loan equivalent to what you have in savings. As soon as they set up the loan with you and deposit the money into your account, thats secured from your previous deposit, the next day you can pay off 95% of the pledge loan and then keep the very small balance being paid down month by month through automatic payments.

This way within 48 hours you get access back to 95% of your Capital so it’s not like you spent money and you basically bought your personal or business credit a primary loan trade line that is posting to the credit bureaus. The only real money that’s being spent is through the interest and transaction fees which for this size of loan is going to be minimal.

That way if you use this pledge loan method on your personal credit through credit unions like navy federal or many others then your personal and business will report 95% paid off loans in good standing that have current positive payment history that will report to your business and personal credit.

Typically this type of loan structure is more favorable to building your business and personal credit prior to getting into micro business loans, Projected income loans, Or getting approvals for larger corporate credit cards.

Micro business loans

Here are some really great micro business loan programs that are usually managed by non-profit companies:

Microloans are smaller loans designed to help startups and small businesses with limited credit history or assets. Here are the top five websites providing microloans to new businesses, including startups and those needing mentorship:

Microloans:

1. Kiva: Kiva
2. Accion Opportunity Fund: Accion Opportunity Fund
3. LiftFund: LiftFund
4. Grameen America: Grameen America
5. Opportunity Finance Network (OFN): Opportunity Finance Network

Each of these organizations specializes in providing microloans to new businesses. Check out their websites to understand their loan structures, application processes, and additional support services.

Projected income loans – Business loans – Small business loans – Easy loan approvals

Projected income loans, also known as revenue-based financing or merchant cash advances, are loans based on future revenue or income. While there are many providers offering this type of loan, some are known for their ease of approval and positive community ratings. Here’s a list of websites that are often cited as easier to get approved for and have strong online reviews:

Projected Income Loans:

1. Kabbage: Kabbage
2. Fundbox: Fundbox
3. OnDeck: OnDeck
4. BlueVine: BlueVine
5. Lendio: Lendio

Each of these websites has its strengths and may cater to different business types and financial needs. It’s essential to research their terms, rates, and repayment structures to find the best fit for your business.

Updated Credit Management Recommendations:

• Credit is not an extension of your income
• The right balance to keep on a credit card is not 30% it is now recommended to only carry 6%.
• Credit is based on trust. If you build trust with banks and lenders you will earn approvals based on credit worthiness.
• Budgeting is your best friend. If you don’t have control of your money, you won’t have control over your credit.
• Cash is king credit is power (The ability of using someone else’s money)