Let’s start with a quick story about the client. He started a wholesaling business less than a year ago. Since his business was ‘too new’ to qualify for conventional financing, and he wanted to start leveraging his business to achieve massive growth, he signed up for our Startup Financing Program. His credit was immaculate, except for one account that was dropping his scores.
As you can see from the images above, he had a Discover account that had a 99.9% balance on it ($24,980/$25,000). This account alone was causing his scores to be in the high 600’s/low 700’s.
Our business growth consultants provided him with some clever strategies to pay down his account, as well as a forecast of how the decreased debt would increase his scores, and allow him to obtain business credit products closer to PRIME interest rates.
Just a few weeks later, he refreshed his credit report before proceeding with an application, and the results speak for themselves.
In just a few short weeks, his scores jumped from (702/698/707) to (798/803/793). Nearly 100 point increase by paying down one personal credit card.
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