Ep 13: How to Secure $50K in Business Credit: The Step-by-Step Guide (Pt 1 w/ Romon Logan)

Description:

On this episode of Call Her Profitable, Odaisha interviews her funding guy Romon Logan from Legacy Logan. This episode dives deep into the world of obtaining high business credit limits, especially for new business owners. Romon shares his expertise on how to build a strong credit report, the importance of establishing relationships with banks, and the nuances of credit applications. Whether you’re just starting out or looking to scale, this conversation will equip you with the knowledge to enhance your funding strategy.

Key Points:

Understanding Your Credit Report: Romon explains why having a strong credit report, with multiple positive accounts, is crucial for securing high business credit limits. It’s not just about having a high score but showcasing your ability to manage various types of credit effectively.
Building Relationships with Banks: Establishing a good relationship with your bank is essential. Romon compares this to borrowing from a trusted friend versus a stranger, emphasizing the importance of internal scores and having a bank relationship manager.
Effective Application Strategies: Applying for credit with a strong application and leveraging your relationship with a bank manager can significantly increase your approval chances. Romon offers practical advice on how to navigate the application process and what to do to improve your odds.
Choosing the Right Banks: Romon discusses how to prioritize banks based on their capital and your credit report. He introduces tools like iBankNet to help you identify banks that are more likely to offer higher credit limits.

Key Takeaway:

To secure high business credit limits, focus on building a robust credit report with multiple positive accounts, foster strong relationships with banks, and use strategic application techniques. Understanding these elements can transform your approach to funding and elevate your business to new heights.

Why Listen:

This episode is packed with actionable insights for new business owners looking to secure substantial credit limits. Romon Logan’s expert advice will guide you through the complexities of credit applications and banking relationships, providing you with the tools you need to confidently approach your funding goals.

Resources Mentioned

Get Funded with Romon: https://www.legacyfundingscore.com/womanofpower

Monetize Your Gifts: Unlock Opportunities for Profit Training: Includes a detailed breakdown of the Take Inventory Method and a complimentary workbook to guide your journey https://thewomanofpowergroup.ck.page/products/unlocking-opportunities-training

Purpose to Profit Planner: A 30-day self-paced interactive planner to help explore your spiritual gifts and build a business around them

https://thewomanofpowergroup.ck.page/purposetoprofit

Connect with me on social media: Instagram.com/Callherprofitable; Instagram.com/thewomanofpowergroup

Join our email community for tips on walking boldly in your purpose: https://astounding-trader-6073.ck.page/5e9697fe83

Join The Woman of Power Group September events https://bit.ly/womanofpowergroup

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Contact me via email: Odaisha@thewomanofpowergroup.com