Results from our partners at First Sterling Capital

When you're doing an application for a credit card, auto loan, mortgage, apartment or any other "personal" product you need to be mindful as an entrepreneur there are a few things you have to keep in mind when doing your applications. 1. NEVER put down that you are "Self Employed" (If you are then they assume you should be applying for business credit. The company you are employed by is YOUR company.) 2. When it comes to your "income" you can either use the gross income of your household or you can google search of "average income for your zip code". This will prevent you from putting something that will trigger underwriting asking too many questions on the application. Also try to stay away from saying you make more than 250k a year unless you can verify it with tax return. That would make you an accredited investor. It will trigger a request for a 4506 Tax form! 3. Always say you have been at your residence at least 5yrs or more. 4. Always say you have been at your job for 3yrs or more. 5. Make sure the name of the company you use is not on the high-risk companies list. (ie.. No names with Music, Entertainment, Trucking, etc.. Here a link. https://www.creditdonkey.com/high-risk-business.html .. Most people think this only applies to business funding but it still applies to the employees of these companies. Keep it general!) 6. At times you may be asked for W2's, PayStubs, or 1099's, and if you want to use our people you can visit https://www.proofofincomeservices.com/ or you can reach out to one of us at First Sterling Capital to see how we can help you set up Payroll and use your credit cards to pay your salary! 7. Try to do most of your applications [In Person] it will increase your chance for approvals plus you will have the chance to start building a relationship with a banker (YOU WANT TO KNOW A BANKER!!! I will get into this more later) If you can't make it in branch then it's okay to apply over the phone then online if need be. 8. Funding tip: Start your relationship with your local CREDIT UNION not the major banks (they are good for bank accounts for now). So, this means start applying for credit once you become a member of a few credit unions.