How To Get Approved For A Loan Without A Job - YouTube

How to get approved for a loan without a job?  

Yeah, I'm sure. You probably thought this  was a joke but it's not. You literally can  

get approved for a home loan without a job.  And I'm going to tell you how. Let's go.

So, as many of you know with the traditional loan  process, they are looking to see if you can repay  

a loan. The traditional loan process starts off  the same way in most cases. You'll go to a bank  

or credit union. You'll fill out an application,  you'll show them your employment, your income,  

your assets. And they'll either approve you  or deny you for the loan. And in some cases,  

they may even counter offer. Meaning, you may  ask for a loan for 10,000. And they may say,  

"No, we can't give you 10,000 but we'll give you  5,000." That's called a counter offer. But in any  

case, they are looking to see if you can repay the  loan and what your ability to repay that loan is.  

Because banks charge an interest rate and they  make money from you paying back the loan. So,  

they really only want to lend when they feel like  they're probably going to make money off of that.  

So, that's the first thing. The second thing that  you need to know when it comes to the loan process  

is if you are going to be getting a loan that has  collateral or one that doesn't have collateral.  

For example, when you're applying for a loan that  has collateral like an auto loan or a mortgage  

loan, they usually will give you those credit  terms with lower interest rates and to more  

people because they have collateral. Meaning, if  you don't pay your car loan, they have a car, they  

can repossess, they can take it back and they can  resell it to recoup some of their money. But when  

it comes to unsecured loans or uncollateralized  loans, that's a little bit more risky for a bank.  

They don't have anything that they can repossess  or come get. So, they're going to be requiring  

a higher credit score and they're going to  charge a higher interest rate for these loans.  

So, now that you know the difference between the  2, let's talk about how you can start getting  

your loans approved. So, like I said, in most  cases when you go to get a loan, they are going  

to look at your employment or your income. And  so, if you're saying that you do not have a job,  

that is completely okay if you still have income.  You don't necessarily need a job to get approved  

for a loan. They just want to make sure that  you have stable income. So, what income do  

you receive that stable? Do you receive social  security? A pension? Disability? Do you receive  

child support? Alimony? What other type of income  do you receive on a regular basis that you expect  

to continue to receive? If you have those  things, you can still qualify for a loan.  

If you're self-employed for example, they  have documentation for self-employed people.  

Entrepreneurs usually need to be self-employed  for 2 years before they can apply for most  

loans because they're going to be asking for 2  years worth of tax returns. However, I'm going  

to tell you a super secret way how you can get  approved for loans without doing any of this. So,  

now let's talk about the best solution and a  better solution to getting approved for loans.  

Let's talk business credit. As many of you  guys already know, Noelle is a real estate  

mogul. I own lots of rental properties,  I am a real estate entrepreneur,  

I make millions of dollars a year investing  in real estate. And the easy way that I was  

able to do that and how I took my business from 6  figures to 7 figures was through business credit.  

Business credit literally will allow you to create  an entire different credit profile that you can  

borrow under that doesn't have to deal with your  personal credit. Let me explain. You literally  

can set up a business. And in many cases, you  can set up a business in one day and start  

building business credit in a matter of weeks.  You literally just set up your business. Meaning,  

you name your business you get an LLC or S corp or  a C corp, you get an EIN which stands for employer  

identification number. You get a professional  email, professional website and a professional  

phone number and boom! You have all of the  things that you need to be an official business.  

There's a little bit more to it. It doesn't  take very long but I've made an entire video  

you can watch that whole video that teaches  you how to set up your business really quickly.  

The next thing you do once you have that is  you go to the credit bureaus and you create  

business credit profiles. You literally can create  a profile in a matter of days through one of,  

through all 3 of the business credit bureaus. You  have Experian business, you have Equifax business  

and you have Dun and Bradstreet. Between those 3  bureaus, you can get vendor credit reported there.  

Then you move on to store credit. In a matter of  months, you can have cash credit cards, Capital  

One, City, American Express and all of these  different types of credit cards that are available  

for businesses with no job. Again, you can  establish business credit in a very short amount  

of time and I have had students and myself getting  hundreds of thousands of dollars in our businesses  

name in less than a year. Yes, you heard  that right. In less than a year, you can have  

credit cards, business lines of credit. All of  these different loans available for business in  

less than a year. And this is really how you want  to get approved for loans if you don't have a job.  

And as a bonus because you know this is Noelle, I  just love telling you guys everything. Let me give  

you another really quick bonus. Another place you  can get loans almost anyone can get approved at  

is PayPal and Square. And this is this  other company called 5-star processing.  

So, let me tell you a quick secret. Once you have  a business established, you can set up merchant  

processing accounts through companies like PayPal,  Square and 5-star processing. And the great thing  

about it is all 3 of these merchant processing  companies, again, companies that allow you to  

accept credit cards in and pay invoices, make  invoices for customers and have them pay them,  

all 3 of these merchant processing companies will  allow you to borrow money. PayPal has working  

capital loans and loans for small businesses.  Square has Square capital where they lend money to  

small businesses. And 5-star processing will even  lend to startups. I literally have had students  

that are getting 5, 10 thousand dollars and they  just opened up their business a few months ago.  

Literally, this is the best way to start getting  approved for loans without having a job. So,  

I have created an entire training program that  is about an hour long that teaches you all about  

how to invest in real estate, how to start  making money even if you have bad credit  

and no money --my exact formula. Check it out at  noellesfreetraining.com. It's all the information  

that you need because I want to make sure that you  have all of the information, all of the knowledge,  

and all of the resources that you need to be  successful. This is Noelle. To your success.