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Which big bank is easiest to get a no doc stated bus line of credit?


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I am looking for a 50k no doc, stated business line of credit from one of the big banks and wondering by experience which one is easiest to get?

 

Business is 4 years old and I will PG with a 740 fico. Any insight would be greatly appreciated! Also, if there is any other financial institutions I am missing or if anyone has had a good experience with anyone I am missing I welcome the input.

 

Thank you so much in advance for your help!

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I can't imagine they don't require docs - maybe if you have a biz checking account with them and you have a healthy consistent balance. I applied quite a few years ago when we were putting thru over $1m - they declined for a previous BK.

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I also have strong personal credit score 800 but my financials suck - we have been slow all year - but will open a new state in the next couple of months - so could really use an LOC for that purpose....but can't seem to find a source that will loan business without financials - except for credit cards all of which I already have.

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Wells Fargo will do it up to 50k without docs...I have not found any bank will go over 50k without docs

Do you need to be an account holder with WF?
No
Just check the WF website. It says you have to be an account holder to apply online. I guess I will have to go into a branch.
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Wells Fargo will do it up to 50k without docs...I have not found any bank will go over 50k without docs

Do you need to be an account holder with WF?
No
Just check the WF website. It says you have to be an account holder to apply online. I guess I will have to go into a branch.
I didn't
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Try Capital One. I think under $50K you only need to show business/ personal tax. Need to open an account with them. Has anyone tried Lending Club? I also heard of a company called Blue Vine that has a LOC

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Wells Fargo will do it up to 50k without docs...I have not found any bank will go over 50k without docs

Do you need to be an account holder with WF?
No
Just check the WF website. It says you have to be an account holder to apply online. I guess I will have to go into a branch.
I didn't
How did you apply for your LOC with WF?
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Wells Fargo will do it up to 50k without docs...I have not found any bank will go over 50k without docs

Do you need to be an account holder with WF?
No
Just check the WF website. It says you have to be an account holder to apply online. I guess I will have to go into a branch.
I didn't
How did you apply for your LOC with WF?
Over the phone. I just call and ask. The rate was like 14%
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Wells Fargo will do it up to 50k without docs...I have not found any bank will go over 50k without docs

Do you need to be an account holder with WF?
No
Just check the WF website. It says you have to be an account holder to apply online. I guess I will have to go into a branch.
I didn't
How did you apply for your LOC with WF?
Over the phone. I just call and ask. The rate was like 14%
Okay, I will call. Thanks.
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  • 2 weeks later...

 

 

Has anyone applied and gotten approved for line of credit with WF with NO docs ?

 

Yes: https://creditboards.com/forums/index.php?showtopic=532839&hl=%2Bbeekrock&do=findComment&comment=5124223

Do you need to open a bank account with Wells Fargo do get the LOC?

I happened to already have a business checking account with them, albeit a very inactive one. If they require one, they could probably open it at the same time that they open the BLOC. Edited by beekrock
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