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NFCU Bus Credit loans, CC and line of credit?????

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You need the SS# plus DD214 www.dd214.us. You will also need to prove the relationship that makes you eligible.

 

Call Member Services and apply. You will then need to send proof of eligibility.

 

If you have a hard time you might try having your mom or dad whichever is the child of the eligible person join first with the SS# and DD214 then they can sponsor you in.

Great thank you so much

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Hi Blake, that family member must be immediate family, father, mother, sister brother. If you have the DD214 of the deceased (Sorry for your lost), just take that along with your birth certificate, or call (877)418.1462, follow the prompts and someone will help you. Good Luck.

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It is my grandpa. So that won't work?

 

It will if your Grandpa retired. You will need to get a copy of his DD214. For that you need his time and place of enlistment. What branch he served in and his SSN and DOB. (I was told to get his SSN your Mom/Dad can go to the SS Office with their birth certificate and request it.)

 

After that you need to prove relationship. Get your Birth Certificate and you Mom/Dad's Birth Certificate showing he is your Grandad.

 

Alternatively, if your Grandmom is alive and still receiving military benefits she can join and you can join under her.

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They are strictly TU for Biz. It's a single TU pull for Biz CC and CLOC.

 

I was approved for a $25K CC @ 10.4%APR and $15K CLOC which is the max CL at 14.4% APR.

 

My LLC was 2 months old with $0 income and I listed $0 income on the application.

 

If your TU is clean you should be able to easily get a $30K CC. Hell if your personal TU is clean then I would request a $50K CC if I were you.

 

The traditional Business LOC will probably be a rectal exam with DOCS so it depends on if you need it or not and how badly. No matter what you will need to submit a personal financial statement which is a mild questionnaire about your assets.

 

The CC comes with convenience checks for the same purchase APR which is very cool.

 

The easy shoe in will be the CC and CLOC. You should easily be able to get $15K max CL on the CLOC.

 

You are quoting a FICO score right? Where is your 730 score coming from?

 

Does the business credit card and CLOC require a PG?

Yes it does. You alsi have to submit a person financial statement.

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I have quite a few personal lines of credit with Navy Fed. My business is in the startup phase which I have no income showing as well. I was going to apply for business credit card, CLOC, and also a loan to help with the day to day cost. I was wondering if anyone else had to put up collateral to get the loan? Also when you fill out the personal financial statement how do they verify the information?

 

$12.5k Visa Signature

$22k Auto Loan

$12k Consolidation Loan

$5k Personal CLOC

 

TU 683

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I have quite a few personal lines of credit with Navy Fed. My business is in the startup phase which I have no income showing as well. I was going to apply for business credit card, CLOC, and also a loan to help with the day to day cost. I was wondering if anyone else had to put up collateral to get the loan? Also when you fill out the personal financial statement how do they verify the information?

 

$12.5k Visa Signature

$22k Auto Loan

$12k Consolidation Loan

$5k Personal CLOC

 

TU 683

Just be honest on the application and financial statement. I put $0 income on a 1 month old LLC.

 

They gave me a $25K Visa and $15K CLOC.

 

I didn't bother with any other type of unsecured loan just yet because that usually requires a different type of underwriting which is probably the equivalent of getting your teeth pulled while awake and without drugs.

 

Maybe get a car loan or something. If you need it.

 

I also had EQ and EX froze. It appears they only use a single TU HP.

 

 

Do you have high UTL? Score suggests you have something holding it down.

 

Is that 683 FICO?

 

What version?

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How long after getting a business account did you get assigned a rep? I got a business checking/saving setup last week but haven't heard anything since then.

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How long after getting a business account did you get assigned a rep? I got a business checking/saving setup last week but haven't heard anything since then.

CSR said up to 6 biz days

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Mine was pretty quick. She loves email and hates the phone. From application to approval it was a 1 week process I think.

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Thanks guys! I'm hoping to hear from someone soon but if not I'll try and get ahold of them next week.

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@FixnCred do you know if the business CC and CLOC goes against the personal max exposure?

I don't think so but I am not sure.

 

Personal exposure with them is $44K in 2 CCs and a $15K CLOC. So that's $59K.

 

Business is $40K from $15K CLOC and $25K CC which puts me over their $80K max exposure if business counted towards personal max exposure.

 

It probably helps that its a different access number.

 

Let's play a guessing game. Which NFCU branch is this? I had to go in there to do some business yesterday.

 

72201d408384c2e5a815a3d1b50330ce.jpg

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@FixnCred do you know if the business CC and CLOC goes against the personal max exposure?

I don't think so but I am not sure.

 

Personal exposure with them is $44K in 2 CCs and a $15K CLOC. So that's $59K.

 

Business is $40K from $15K CLOC and $25K CC which puts me over their $80K max exposure if business counted towards personal max exposure.

 

It probably helps that its a different access number.

 

Let's play a guessing game. Which NFCU branch is this? I had to go in there to do some business yesterday.

 

 

You business access is linked to your personal access so they can see everything. They are separate but in order to have a business account with them you have to have a personal.

 

It's weird how there system works. For instance when you do a business deposit they take your business access number to look @ account then have to use your personal one to set up deposit and enter the deposit then change it back to your business account to complete the deposit. They have made the mistake of not switching over this info before on me and our business deposits end up going into my personal account. Good thing for those personal texts they send out about deposits or I may not have noticed it for a week or so.

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How long after getting a business account did you get assigned a rep? I got a business checking/saving setup last week but haven't heard anything since then.

Is it a HP to open a business account?

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Nfcu won't give my biz a checking account because I am in travel

Not sure if it's worth it or not due to costs. You could start a new business that will serve as the parent company for your travel business.

 

Then the new business has the primary function of managing your other company(s)

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How long after getting a business account did you get assigned a rep? I got a business checking/saving setup last week but haven't heard anything since then.

Is it a HP to open a business account?

 

I didn't get a HP. I still have not been assigned a rep. It's been over a month now...

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Nfcu won't give my biz a checking account because I am in travel

Not sure if it's worth it or not due to costs. You could start a new business that will serve as the parent company for your travel business.

 

Then the new business has the primary function of managing your other company(s)

Yeah. But it is really worth it. Do they have that amazing biz products

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How long after getting a business account did you get assigned a rep? I got a business checking/saving setup last week but haven't heard anything since then.

Is it a HP to open a business account?

I didn't get a HP. I still have not been assigned a rep. It's been over a month now...
Call them.

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I am sorry if this question has been asked but if you get a NF business account cloc and cc for your corporation does it report to your personal credit reports?

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I am sorry if this question has been asked but if you get a NF business account cloc and cc for your corporation does it report to your personal credit reports?

Doesn't report to personal.

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@fixncredit - Hello,

 

With respect to the financial questionnaire for Navy Fed, what if you have no assets? How would that work when applying the business products. Do you think cash (for example 5k) would be considered...?

 

I currently have a rewards card with Navy and a car loan.

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