Getting a Business LOC

Good evening all,

I wanted to see if anyone could give me some advice on getting a business LOC. Are there any tricks to this? I got denied for a 100k line of credit at Bank of Arizona.

I understand that these factors obviously affect the underwriters decision----

credit score (mine is 660)

debt to income ratio (I have a 200k mortgage,but only making 20 k a year and most income does not show on W-2 as they are military benefits)

I split mortgage with a buddy and have another student renting out third room

other tradeline- CC debt of 5k (max is 6500)

Anyone have any criticism or input?

Thank you,


Here is a place where you can get some usful info:

and another one:

Good Luck!

Well, I can make a suggestion to improve your credit score, but how much it helps you obtain a business LOC I dont know…

I assume that you meant your credit card balance is $5k with a $6,500 limit. Anytime you have an unsecured revolving line of credit with a balance over 50% of the limit, it materially impacts your score. If you could knoock that down to $2k or so, you should see your score improve. There is a great manual I found somewhere that talks about the major components of a FICO score and % utilization is one of them.

This isnt the one I am looking for, but its a good start:

First you need to be in business not as a dba. So if your atleast an llc you start small and petty. I think my first LOC was with Office Depot for $100 and I used it for about 2 months and bought all I could on it and paid it off at billing. I’m thinkin it was 3 months after my Inc was filed I had the deadly H.D. business card and it took off from there.