How To Get Approved For A Big Loan - YouTube

How to get approved for a big loan? Are you ready  to do something big but you don't have big money  

to do it? Well, I'm going to tell you exactly how  you can get approved for a very large loan without  

having to do so much to get it. I'm going  to tell you exactly how to do it. Let's go.

I'm going to share with you a detailed  step-by-step tutorial on how to get  

approved for loans. I'm going to guide  you on the best places to go depending  

on your particular situation. And last but not  least, I'm going to share with you my biggest  

secrets on how me and my students get millions  of dollars in funding in less than a year. So,  

let's talk about the loan process. When you are  applying for a loan, in most cases, you are going  

to go to a bank or credit union and you're going  to apply for a loan. We have different types of  

loans. We have personal loans which are considered  unsecured, uncollateralized loans. Meaning,  

like a car loan, there's a car that collateralized  the loan. So, if you don't pay it, they will take  

the car back and they have some collateral. Or a  house. They will loan you a mortgage on a house  

and the house is the collateral. Meaning, if you  don't pay, they will foreclose and take the house  

back and they have something that they are lending  on to secure your loan. But then there are loans  

where there is no collateral or securitization  whatsoever like a personal loan. You go to a bank,  

you sign your name, and they put the money in your  account. It's just that simple. Those are personal  

loans. We also have credit cards. You literally  can take your credit card. And if you want,  

most credit cards will have what's called a  cash advance. Meaning, you can stick that card  

into an atm and pull out cash instead of actually  buying an item. So, there are many different ways  

and many different types of loans that you can  get. We also have what's called lines of credit.  

And again, it works the same way. Some lines of  credit are collateralized or securitized against  

something like a home equity line of credit  which is securitized against a home. Again,  

just like a mortgage. Or you can do a line of  credit that is completely unsecure. Meaning,  

you can pay it, use it just like a credit card  and it will replenish as you use it. And again,  

it can be collateralized or uncollateralized. Now,  here's the thing that you need to know: When you  

are going for a loan of any sort, collateral  does matter. Loans that are collateralized  

are usually considered lower risk and easier  to get. Meaning, you can have lower credit  

scores in order to get it. Loans that require  no collateral whatsoever are usually considered  

high risk and will require a higher credit score.  So, let's get into how you can get a big loan. So,  

again, when you go to a bank or a credit union  to apply for a loan, they're going to have you  

fill out an application. Meaning, you have to  apply. They're going to ask you for your name,  

your first and last name, your date of birth, your  social security number because they are going to  

pull your credit. Many of you guys are familiar  with credit reports. You know that there's 3  

bureaus. If you don't know about credit, I have a  whole video where I teach you on that but in most  

cases, they're going to look at your credit and  this is going to be the biggest determining factor  

on loans that are not securitized by anything.  So, again, if you're going for a car loan,  

you may be able to have a lower credit score  because you have the car that's collateral for  

the loan. But if you're going for a personal  loan where there's no collateral whatsoever,  

they're going to look at your credit report and  they're going to base their entire decision mostly  

on what's on that credit report and how well  you've paid other people. Because really,  

that's all they have to base their decision on.  They'll also look at things like your income,  

your employment, how stable it is how long  you've worked at your job, what your income is,  

how much money you make per month, and the  stability of that income. Do you work year-round?  

Or do you only work part-time? Do you only work  certain seasonally, certain months out of the  

year? All of this will favor very heavily as to  whether or not they will lend you money for a loan  

because this is the process. Lenders are looking  to see what your ability to repay the loan is. So,  

when you are going to get a loan, you want to  present the best picture possible and show them  

that you can repay a loan. Let me tell you  some easy ways to do that. So, like I said,  

when it comes to personal credit, there are 3  credit bureaus. Let me quickly explain because  

this is a very important piece to getting a  loan. Knowing how to look at your credit. So,  

in personal credit, we have three different  bureaus. We have Equifax, we have Experian, and we  

have Transunion. Those 3 credit bureaus will give  you a score. They'll look at how well you've paid  

people, what type of accounts you have. You know,  all of the different trade lines, how long you've  

had credit. And all of these different factors  will go into what your credit score is. The  

higher the credit score, meaning, a credit score  over 720, the more things you will be able to get  

approved for. If your credit score is below 640  or 640 or below, you are considered having poor  

credit and you won't be able to get many unsecured  loans. But that is what most people fall into  

and this is where most people make the biggest  mistakes. So, let me tell you a secret that most  

people are not even talking about. Let's forget  about personal credit altogether. Because Noelle  

is a millionaire and she doesn't even care about  personal credit. I'm teaching you this because  

you wanted to know. But let me tell you the real  secret sauce --business credit. Business credit  

works very similar to personal credit except it is  just for your business. You literally can set up a  

business. Again, LLC or EIN number, professional  phone number, professional website and get a  

business profile set up in merely a couple of  days, okay? Literally in a couple of days. And  

you can start building business credit faster than  you would personal credit. Because businesses,  

they will lend to businesses much higher than  they will lend to you personally. As a business  

for example, you may get a Capital One card in  the business's name and you'll get approved for  

like 5 or 10 thousand dollars. Whereas with the  personal Capital One card, you'll only maybe get  

$500 or $1,000. Because businesses are treated  differently and they're looking for something  

totally different. In the business credit world,  we have 3 bureaus. Same way. You have Equifax  

business, you have Experian business. But more  importantly, you have Dun and Bradstreet. Dun  

and Bradstreet is the number one business credit  reporting agency. They are like the juggernaut of  

business credit. They've been around the longest  and they are the credit reporting agency that you  

want to make sure you have a business credit  profile on. Many companies will lend you cars,  

credit cards, apartments. You know, like that,  (I own tons of these apartments), the condos  

in your business's name just by looking at your  Dun and Bradstreet credit report. Additionally,  

again, instead of looking at your trade  lines and how much money you spend,  

business credit reports and the scoring system is  much different. They will look at how well you pay  

your bills back. So, for example on the personal  credit world, if you had a credit card, it was a  

thousand dollars and you charged $1,000 on it,  your credit score is going to tank. If you have  

$1,000 on a credit card and you charge $1,000, I  promise you, your credit score is going to drop  

because you're using most of what the limit on  that credit card is. But on the business credit  

side, if you did that same thing and you use your  Chase Business Inc credit card or your Capital One  

Spark card or your American Express business card  and you charge it all the way up to the limit,  

they do not lower your credit score, okay? They  don't lower your personal credit score because  

it's not on there. And your business credit  score is not usually lowered. It's usually  

lowered if you miss payments or if you pay them  late. In a business credit world, they want  

to make sure that you're able to maintain the  payments that you're able to pay the debt. So,  

what they are looking for is your debt management  not your debt ratio which is what they're looking  

for on the personal credit side. So, learning  those differences is going to open a whole new  

world for you. Now let me tell you how you get to  the millions. With business credit, you literally  

can get approved for more money than you ever  would with the personal credit. I've literally  

had credit cards for Capital One (using that as  an example) and they gave me a 6,000-dollar credit  

line on my personal card and then immediately gave  me $24,000 on my business, in my business's name.  

Again, right off the gate. Same credit score, same  person, just me. But one was in my business's name  

and one was in my personal name. And this is how  you can unlock millions of dollars. Because with  

business credit, they want to lend you higher  amounts because businesses need more money.  

Additionally, here's the secret: You literally  can call those credit cards every 6 months and  

they will increase the credit limits. For example,  American Express has this policy when you call and  

ask to have it increase, they usually increase  it by 3 times the original amount. Meaning,  

if they gave you a credit line of $10,000,  you make the payments on time for 6 months,  

you call American Express up (and again this is on  the business credit side) and you ask for a limit,  

tell them you're purchasing something, one of  the... Well, one secret, you have to make a big  

payment, okay? So, you make 6 payments and make  one big payment and then you call them and ask  

for an increase. And they will take it 3 times.  So, if you had 10,000, they will automatically  

increase it to 30,000 right on that first  time. Additionally, you can do this every 6  

months. I literally have credit cards with over  $100,000 on the limit, okay? Just by calling them  

back every 6 months and asking for an increase.  It's really just that simple. And this is how i  

and my students have millions of dollars in our  businesses name in less than a year. So, I have  

created an entire training just for you. And the  best thing about it is this training is absolutely  

free. I will teach you my exact strategy for  investing in real estate without losing money,  

without spending very much money and telling you  exactly how I did it from beginning to end. Check  

that out at noellesfreetraining.com. Again, that's  Noelle, (n-o-e-l-l-e-s) Noellesfreetraining.com.  

Check it out. I just want to make sure that you  have all of the resources, all of the tools,  

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