Have you been looking for business credit lenders?
Do you remember “The Great Recession” of ‘08?
If you were involved with Real Estate, you most definitely do!
Sometimes the National Banks Make Shoddy Business Credit Lenders
Jon was seeking funding for a new real estate project. At the time it was pretty tough to secure financing for that – even with good credit & revenue…
He started with his primary bank – Chase. Nope. Didn’t get approved.
Then he tried his business partner’s bank – Bank of America. Denied.
He gave it one last shot with Wells Fargo – NOTHING.
The big banks just weren’t lending.
Jon was convinced the project was going to be dead in the water but on his way to the office one morning, he was stopped at a red light and saw something he never noticed before…
It was a small little bank tucked inside a corner plaza.
And right out front there was a small sign that read:
“We’re still lending”.
The timing couldn’t have been more perfect.
The moment Jon reached the office parking lot he called up the bank to speak with their loan officer.
Long story short is…
Not all business credit lenders are created equal.
Jon ended up getting the money he needed to fund his project –
even during a recession!
After Jon recounted the story to us and we celebrated the launch of his new real estate project, we couldn’t help but think…
How many more banks and business credit lenders are just like this that want to lend right now?
Jon put the team on it…
We ended up finding THOUSANDS of business credit lenders that were still in a “good” lending mood regardless of the recession.
That’s when we realized the power of working with local community banks and credit unions.
When economic recessions (and depressions) happen, it’s common for banks to tighten their lending.
However, the good news is…
even when the national banks tighten their lending…
There are still plenty of business credit lenders willing to lend.
And still get borrow money through your local banks & credit unions.
All you have to do is find them and build relationships with them.
And guess what else…
Even if for some reason you’re not able to get business credit from the local banks and credit unions (within your geographic location)…
You can still contact local banks and credit unions in other states!
It’s true!
This is what many of our students did during the pandemic.
They made a list of all the business credit lenders they could find and called several local banks & credit unions (plus some in other states) to see if they were still lending, what their programs & requirements are, if they lend out of state etc.
You can save a lot of time by doing this and gather a list of recession-proof lenders!
Can you imagine having a list of business credit lenders you can always reach out to whenever you need access to funding?
…even if the economy happens to be in the middle of a recession.
It really doesn’t get much better than that for funding options!
If you want to learn how to establish strong business credit quickly so you can shortcut the process of funding and get your own list of recession-proof lenders…
Join the Corporate Credit Secrets Program
Inside we’ll show you how to establish a business credit profile for your company, build a strong profile so you can easily get approved for all types of business credit.
We’ll also show you how to choose the right lenders and types of financing for your business and SO MUCH MORE!
You’ll also get access to our credit vendor list with over 200+ creditors that report to the business credit bureaus (which is always being updated) so you can be sure those accounts will actually help build your company credit.
We’ll teach you a proven system to establish business credit the right way so you can secure high amounts of funding for your company quickly.
Learn More About Corporate Credit Secrets
Want to know the #1 thing that boosts up your business credit scores more than anything else? Lookout for our post tomorrow!
Your friends in finance,
Private Wealth Academy
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