@Ralphmeansbiz...The reason I'm sticking with you my brotha is because you answering everyone comments regrardless its negative or not..keep on!! .. keep on bro!!..
Damn I might have to try this 4x auto loan. I have a 4 yrs person relationship and 3 yr biz with them. 766 Experian score at the moment. I do Turo on the side and need to expand that fleet. So just do one application submit then go back in then another then submit right? Thanks
I have all 7 of those steps setup for my business. What is the first business product would you go for if you were starting from where I am. I have a 600+ credit score. Jusy not sure the first step. Im lost fam
Tbh no lender, business or personal, is going to give credit to a 600 credit score. I would first focus on getting as close to a 700+ as possible. Once you get there you can run every play you see me talk about on the channel easily. But in the meantime, I’ll be dropping some lenders who give business credit & don’t look at personal credit scores, just monthly business cash flow. Stay tuned fam!
I’m trying to build business credit in order to get funded for a laundromat. I have a business account with Chase and a business cc with them. They used my home address because I was told that using an ipostal address would get me denied. I have a personal relationship with Navy Federal and First Community Credit Union and I’m trying to establish a business relationship with them as well. Should I get a virtual address with Regus or Alliance or continue using my home address? If so, how long does it take for me to get that updated with the IRS and the Secretary of State?
Great video bro! Thanks for the info!. Question, so I'm new to the owning a business game. So even though I'm applying for a business credit they still need to see my credit score during the process?
Yo bro appreciate you tuning in! So it depends what lenders you’re applying for. A lot of lenders do require a personal guarantee where they use your personal credit. There are a few that don’t need it, but they will require your business to have good cash flow.
@Ralphmeansbiz am not sure what I said every. But I was asking if I am 80% income to Debt Ratio and only have 20% or income left after expenses paid. Would they still give me a loan?
misleading . what if you have no income and bad credit score but have an LLC and EIN . and banks don’t loan money , they only give and borrow . 12 USC 1431 Powers and Duties of the bank . they can’t deny you based on the Equal Credit Opportunity Act . if denied you take them through the Administrative Process . Arbitration . that application with your Social Security Number , is being traded for millions of dollars . Securities Exchange Act of 1934 . also Federal Reserve Act Section 16 - Note Issues , part 2. Application for notes by Federal Reserve banks .
Nobody doing all that bro. Same effort you putting into learning all these Equal Credit Acts put into keeping your credit in a good place with better spending habits & you’ll never have to worry about getting denied.
@@Ralphmeansbiz but it’s more than one way to skin a cat you don’t have to always do it one way. If the bank is trading your social security number in secret and you think keeping a good credit score and being good noodle is better you are lost my brother fr fr 🥱🥱🤧🤧 you ignoring the very laws that were created to protect you and basically saying f them laws they stupid. That’s the same as saying go to workout 5 days a week but eat whatever you want be fr fam 🥱🥱🤦🏿
Peace brother, do you mind sharing what your interest rate was at the time of your application being that you didn't have to put anything down and didn't have to provide any docs?
Hey Ralph, love the content ! Question , once I form an LLC and I have bad personal credit , but I put my pops on the LLC bc he has good credit , ik it’s easier to get approved for funding that way. But will he have to be in person at the bank when I opened business accounts? He lives in another state. Or do they automatically run the names on the LLC and offer a bloc or credit card to me considering he’s on the LLC as primary owner
Hey bro, great questions. Even though he’s on the LLC most lenders are going to run a hard inquiry on everybody who owns more than 25% in the business regardless. Secondly, yeah he’d have to be there in person at most banks, so that might be tough. You might be able to find a few online lenders who don’t need in-person applications, but the best thing to do is really start working on fixing your personal credit asap so you can run whatever play you want 💯
Hey man been trying to get a business credit with most of the bank and the only problem I’m running into is that my business is only 2months old oh and also I do have a collection showing on my credit report. You think Bank of America will approve me? I do have 700+ credit score
@@Ralphmeansbiz brother, your spreading straight up lies and misinformation. Case in point your on here trying to get your money up as stated in your videos and your out here trying to scam. I’m set brother, and I’m more verse in this topic. My bag is heavy plenty legitimately and the right way. If you want I can expose every thing you’re doing.
@@Ralphmeansbiz they deleted my account while I was paying for it. Then they tried invoicing me for an account that I didn’t even have they did it for about a year and gave me almost a $2000 bill. I even spoke to the owner to have it resolved and he was arguing with me and send me harassing emails. I threatened him with an AI letter and I had the government go after them because of the scam. please stop sending me emails so they got the message. 😂 😂
Nah I make RUclips videos b/c where I come from absolutely nobody shares this type of information & once I was exposed to it my life changed. I’m giving back, but we all have different missions 🤷🏽♂️
@Ralphmeansbiz...The reason I'm sticking with you my brotha is because you answering everyone comments regrardless its negative or not..keep on!! .. keep on bro!!..
I appreciate your comment fam! I try to respond to everyone who takes the time out to watch & comment on my channel, it’s all support to me.
Super good video about Business Credit. Well done.
Thank you so much Deborah. I’m glad you enjoyed & got value from it! 😁✨
Great video Ralph! I just got my second business credit card and excited to put it to use 🤙🏼
My guy Raf! Appreciate you man. Keep me posted on how it goes for you bro 💯
Good stuff 😎 going to try this for my start up
Ayyye let’s get it fam! Keep me posted on how it goes! 💯
What are you going to go for with your business, thousands in business credit or vehicles in your business name!??
Both. Just need a lil help time and better credit and discipline and probably a divorce
I heard that my guy. Just take it step by step 👣💯
Ralph , what are u using a line of credit for once u get approved from b/a . I have them and they are good with car loans but terrible on loc
Your video s are amazing! Thank you for sharing ❤
Thank you so much! 🙏🏽✨
Thank you
You’re welcome. Thanks for watching!
Thank you for the information. Implementing now
Aye let’s go! & thanks for watching 💪🏾💯
bro i like your context and editing and quality of the videos. Do mind sharing with me who is your video editor? The quality of videos is crisp.
Thank you so much, I’m glad you enjoyed the content! Edited this one myself though 💪🏾💯
@@Ralphmeansbiz what camera and editing software are you using?
M50 & CapCut 👍
@@Ralphmeansbiz Thank you. keep the good content coming. you doing great work👍
Pnc will give you 4 cars on your personal & 4 cars on your busi on one pull 8 cars & 4 cards
I wouldn’t recommend anyone financing four cars in their personal name, but this is great information to know!
Excellent information and data points, Ralph. Thank you so much!
You’re welcome & thank you for watching & commenting my guy! 🫡💯
"I'm not gone lie , I be stressed yo". You don't look stressed fam, but hope you make those financial goals this year.
Never judge a book by its cover brother. I appreciate you watching & the comment tho. Likewise 🫡💯
I've tried so many things to supplement my income while I'm a premed student. I sure hope this works my brotha.
It works if you do my guy! You got it 💪🏾💯
Didn't mention having to have a website. 👍 That's a plus
Definitely a plus! Great add 💯
it's so relatable because he says familiar phrases like "spin the block". 👍🏽
Lol you already know the vibes my guy! 💪🏾💯
THANKS FOR SHARING!!! POWERFUL INFORMATION!!!
You’re welcome! Thank you for watching my guy 🫡
Another banger! So much value dropped in this one bro🤯🙌🏾🙌🏾
My guy! I appreciate that a lot. YKTV! 🫡💯
Good vid bro
Appreciate you champ! 🫡💯
Damn I might have to try this 4x auto loan. I have a 4 yrs person relationship and 3 yr biz with them. 766 Experian score at the moment. I do Turo on the side and need to expand that fleet. So just do one application submit then go back in then another then submit right? Thanks
Yessir & with those data points you should be good! & yup, that’s exactly what to do. Keep me posted bro! 💯
Is Turo profitable?
I hear great that the navy credit union gives large lump sum for both personal cc and business cc…
Yes, I have a whole video detailing the specifics. Check it out here -> ruclips.net/video/5lGYi0DROMw/видео.html
So the only way to apply for a vehicle loan is to establish a relationship with BofA first?
No, you the relationship with them beforehand isn’t necessary but it helps if you need it.
I have all 7 of those steps setup for my business. What is the first business product would you go for if you were starting from where I am. I have a 600+ credit score. Jusy not sure the first step. Im lost fam
Tbh no lender, business or personal, is going to give credit to a 600 credit score. I would first focus on getting as close to a 700+ as possible. Once you get there you can run every play you see me talk about on the channel easily.
But in the meantime, I’ll be dropping some lenders who give business credit & don’t look at personal credit scores, just monthly business cash flow. Stay tuned fam!
Blessings great info
Blessings fam 🙏🏽 thank you for watching! 💯
hehehe it's not going to show up on yourcredit profile you made me laugh and follow you after that. that was funny
Appreciate the sub. But it really won’t show on your personal credit report lol
In the future how can i get leverage on my turo buisness llc to get real estate and rent them out and keep doing so ?
This is how I leveraged into my first real estate property -> ruclips.net/video/Xttja_KV5tI/видео.html
More videos coming soon! 🫡
This is a GREAT video!! Thanks... and.... can you share what is your brand of MIC you are using for this video please?
Thank you for watching. I really appreciate that 🫡
Link to the mic here fam -> a.co/d/itQEA9U
Do hard inquiries hurt your score more or less when your score is 700 and over?
I would say less. Inquiries usually only drop your score 3-5 points per.
@@Ralphmeansbiz thanks bro
Thanks young blood, needed a cosigner...
You’re welcome, hope everything works out! 💯
is this facility available fior india
I’m not sure. You should look it up online to check! 😁
When you get multiple vehicles do you pay 1 loan or each loan financed separately
Each one is a separate loan.
Dope
Appreciate that Mitch! 🫡💯
I’m trying to build business credit in order to get funded for a laundromat. I have a business account with Chase and a business cc with them. They used my home address because I was told that using an ipostal address would get me denied. I have a personal relationship with Navy Federal and First Community Credit Union and I’m trying to establish a business relationship with them as well. Should I get a virtual address with Regus or Alliance or continue using my home address? If so, how long does it take for me to get that updated with the IRS and the Secretary of State?
If iPostal isn’t working, I use Regus myself. You would have to reach out to the IRS & your state to update them with the correct info.
I use Ipostal address for my business and its been fine. Do not use a POB. Change it out of your home address.
Great video bro! Thanks for the info!. Question, so I'm new to the owning a business game. So even though I'm applying for a business credit they still need to see my credit score during the process?
Yo bro appreciate you tuning in! So it depends what lenders you’re applying for. A lot of lenders do require a personal guarantee where they use your personal credit. There are a few that don’t need it, but they will require your business to have good cash flow.
@@Ralphmeansbiz You the man bro! Thanks for the info. I'm a check out the rest of the vids!💯
What if am 80% of payments to income
Not sure what you mean
@Ralphmeansbiz am not sure what I said every. But I was asking if I am 80% income to Debt Ratio and only have 20% or income left after expenses paid. Would they still give me a loan?
Is it ok to apply with less then 2 years LLC, bofa website requires 2years
I got approved when my business was a little older than 1 year. The stronger your credit profile the less of an effect it will have.
Bruh! Seriously, though... SUBSCRIBED!
Thank you fam! I appreciate you being here 💯
For new business llc
Which product you asking about?
misleading . what if you have no income and bad credit score but have an LLC and EIN . and banks don’t loan money , they only give and borrow . 12 USC 1431 Powers and Duties of the bank . they can’t deny you based on the Equal Credit Opportunity Act . if denied you take them through the Administrative Process . Arbitration . that application with your Social Security Number , is being traded for millions of dollars . Securities Exchange Act of 1934 . also Federal Reserve Act Section 16 - Note Issues , part 2. Application for notes by Federal Reserve banks .
Nobody doing all that bro. Same effort you putting into learning all these Equal Credit Acts put into keeping your credit in a good place with better spending habits & you’ll never have to worry about getting denied.
@@Ralphmeansbiz put me on
Tap in fam! It’s all on the channel 🤲🏽
😂😂😂
@@Ralphmeansbiz but it’s more than one way to skin a cat you don’t have to always do it one way. If the bank is trading your social security number in secret and you think keeping a good credit score and being good noodle is better you are lost my brother fr fr 🥱🥱🤧🤧 you ignoring the very laws that were created to protect you and basically saying f them laws they stupid. That’s the same as saying go to workout 5 days a week but eat whatever you want be fr fam 🥱🥱🤦🏿
Wages went up but companies decided to gouge and make record profits! This needs to be addressed.
💯💯
Peace brother, do you mind sharing what your interest rate was at the time of your application being that you didn't have to put anything down and didn't have to provide any docs?
When I did it in 2021 it was around 3%. Last year it was about 7%.
@@Ralphmeansbiz thanks alot for responding, and you didn't have to show any tax returns what so ever?
@TRuffin no docs my guy 😏
@@Ralphmeansbiz i appreciate you sharing your data points brother.
@@TRuffindon’t listen to this guy brother. Always trying to rip off and exploit your own. Don’t be a statistic and get scamed
Thank you fam what’s the interest rate they gave you for your auto loan
I think mines was around 7%. Commercial auto loans are usually a little higher than personal loans.
Hey Ralph, love the content ! Question , once I form an LLC and I have bad personal credit , but I put my pops on the LLC bc he has good credit , ik it’s easier to get approved for funding that way. But will he have to be in person at the bank when I opened business accounts? He lives in another state. Or do they automatically run the names on the LLC and offer a bloc or credit card to me considering he’s on the LLC as primary owner
Hey bro, great questions. Even though he’s on the LLC most lenders are going to run a hard inquiry on everybody who owns more than 25% in the business regardless. Secondly, yeah he’d have to be there in person at most banks, so that might be tough. You might be able to find a few online lenders who don’t need in-person applications, but the best thing to do is really start working on fixing your personal credit asap so you can run whatever play you want 💯
So my personal credit matters when trying to create business credit
For sure! 💯
If they couldn’t access your file Idk if you disputed a inquiry with them recently b4 applying but sometimes you have to wait 6 mos
No disputes and others can access the same file. Maybe I’ll try again soon 🤷🏽♂️
How much does " NO Doc " Rely on Personal Credit/Fico Scores ?
A LOT. Gotta get that personal credit right for sure bro!
I’m learning how to build biz credit !! The big bank are full of nothing !! God is good 👍
Thanks for watching! Wishing you the best on your journey ✨
What did You do?
Hey man been trying to get a business credit with most of the bank and the only problem I’m running into is that my business is only 2months old oh and also I do have a collection showing on my credit report. You think Bank of America will approve me? I do have 700+ credit score
Probably not at the moment. But taking the steps in the video & time passing, once you get that collection off you should be good!
And when the business fails the bank closes?
I don’t understand your question, sorry.
Do you need to show money coming in from the business?
I didn’t. Only if they decide to do a verification with financial statements. It’s rare though when you have a structured business.
@@Ralphmeansbiz what do you mean by structured business?
@anthonyrude check out this video. I explain the entire process -> ruclips.net/video/4io0JeHXei4/видео.html
@@Ralphmeansbiz Kool. Thx.
I just subscribed. Good $hit bro. If next month, my job lets me go. I go next day to BOA
Appreciate you watching bro! Don’t wait for them to force your hand, get ready now 💯
I don't have buisness credit.. I've been in buisness for 4 years now 😔
Just follow the blueprint I lay out in my videos. It’s all there for you! 💯
off topic is that DJI mic realiable?
Yes. Works really well. The best of all the mics I’ve tried thus far.
FICO score minimums?
Mentioned in the video
@@Ralphmeansbiz700 min Fico, thx
What about a non profit
I’m not sure since I only have for-profit entities. Just check their website or give them a call though!
TEACH ME BRO
Stay tapped in with me bro, I got you! 🫡💯
4:40
👍👍
Subbed.
Appreciate you fam! I’m keep dropping bangers 💪💯
Ok want to be a thousandaire lol… with that being said build 1 brick at a time to get to the next level
That’s the only way to be successful with anything in life! 💯
Thought it was Chris Rock! lol
Thanks for watching! 💯
Dog treats & Scooby Snacks.......Wow.
🐶💰
If i could get 1 dump truck
It’s possible bro. Follow the blueprint.
Buy a used 1, they're cheap.
Government auction has some going for 3k rn. Deadass I just seen them.
@@gotdat1873what website?
Man you guys need to stop subscribing to there’s scammers like him
Why you so mad playa, it don’t look good on you 😭 why not instead of hating, go run your own bag up!? 🤷🏽♂️🤦🏾♂️
@@Ralphmeansbiz brother, your spreading straight up lies and misinformation. Case in point your on here trying to get your money up as stated in your videos and your out here trying to scam. I’m set brother, and I’m more verse in this topic. My bag is heavy plenty legitimately and the right way. If you want I can expose every thing you’re doing.
Brother , every time I post, my comment gets auto deleted. That’s how I know for a fact your full of it
You speaking too vaguely bro. Please enlighten & expose for us all where the scam is….👂
@darickfoxo7986 ???? 👀
Regis is a joke. They tried to scam me.
I’ve got mixed opinions on them as well. But they serve their purpose for the time being.
@@Ralphmeansbiz they never did you dirty?
@@Ralphmeansbiz they deleted my account while I was paying for it. Then they tried invoicing me for an account that I didn’t even have they did it for about a year and gave me almost a $2000 bill. I even spoke to the owner to have it resolved and he was arguing with me and send me harassing emails. I threatened him with an AI letter and I had the government go after them because of the scam. please stop sending me emails so they got the message. 😂 😂
Yeah they tried to with one of my businesses actually lol but they are also doing a good job for my other one. I might need that AI letter template 🤣
BS
Nah your mindset is BS fam
B'S that's why you make YT? Videos. Ok corp finance
Nah I make RUclips videos b/c where I come from absolutely nobody shares this type of information & once I was exposed to it my life changed. I’m giving back, but we all have different missions 🤷🏽♂️
This information is extremely basic.
Yet, so many people who were like me have no idea about this kind of financial acumen. So I’ll keep sharing 😁
Nobody calls a car payment a car note.. Thats when you know this guy is on some serious BS within the first minute of the video...
I hope you see the light one day fam. In the meantime tho, learn what a “note” is… -> en.m.wikipedia.org/wiki/Promissory_note
Been calling my car loan payment my car note for eons.