Obviously, you don’t have to use it all, but when you initially need business financing, it’s best to get approved for as much as you can. The total available line of credit could be between $25,000 and $100,000 based on your creditworthiness. If you proceed with the loan, the 3rd party loan provider will work on your behalf to secure multiple revolving Credit Cards (up to ten) with varying amounts of credit. You will know within minutes whether or not you have been approved. Lastly, he/she will let you know what you’ve been approved for in your area based on your credit, and that’s it! How Does It Work? Then, a financing rep will give you a call to collect the rest of your info and a soft inquiry will run (soft inquiries do not show up on your credit report). First, you’ll fill out the quick pre-qualification app. Normally, they charge $30 for the application, but, you’ll get it free. This Third Party Offer enables IADs access to cash. You can see if you qualify here to get financing to start your ATM Business. It’s a great way to get cash if you have locations waiting for ATMs and you NEED to find the money to buy machines. Read below to find out more about what ATMDepot has set up for their IADs ⬇ĪTMDepot has secured a way for you to see if you qualify for 3rd party business funding. They may be able to save you loads of time and hassles. But, if you have a great credit score and only need another $10,000 or so in credit card credit, then this might work for you.Īnother alternative: We were able to secure IADs access to a 3rd party lender that helps you get around this limitation. Once you apply for one or two, you’ll probably lock yourself out of getting additional cards or other types of loans since all the application inquiries will show up on your credit report. Remember to note that if you plan to apply for these yourself, you’ll need a decent credit score. This can often hurt your score, which in turn, lowers your chances of getting another credit card if you need more cash to grow your ATM business.
The downside to applying for your own credit cards is that you can only get so many and every time you try, you get an inquiry on your credit report.
You can also try to apply for interest-free credit cards. Sometimes, if you have a good location you can pay this off without incurring too much interest. It’s a great way to buy your first ATM since the initial investment is typically under $2,500. Lots of new IADs turn to credit cards to start their business.
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