How to get 0% funding for start ups – Build a six figure business in 2021

Video ID not provided: Please check your shortcode.

 

Hey, everyone. Oz Konar here with Business Lending Blueprint. Today, I want to talk to you about one of the financing options that our members use quite a lot that allows a business owner get access to startup capital at 0% interest even if they don’t have the business right now. So if you’re ready, let’s get started.

All right. One of the statistics that I’ve seen recently is that 70% of the people at some point thought about starting their own business. People have amazing ideas, people have crazy ideas when it comes to business ownership, but 70% of the people at some point thought about starting a business. What do you think the number one reason that stopped them from doing that? Obviously, there are other reasons, but the number one reason is the lack of capital. Sometimes they need additional $1,000, 10,000, 50,000, 20,000, and when it comes to getting that amount from a third party, it’s almost close to impossible, right? Unless you have friends and family to support you, unless you can show up on Shark Tank and have people invest into your business, this is usually a no-go situation.

The largest business loan broker network in United States and Canada

We’re running the largest business loan broker network in United States and Canada, if you follow me already know about it. So we have thousands of brokers in our community who are helping small businesses and startups get access to capital. We train them on over a dozen different products from startup funding options to existing business funding options to real estate or whatnot. So today I wanted to introduce one of those products that is a game changer for most people who want to start their own business. This is not really known about that much, and most of our products are that way actually. We’re in the alternative lending industry and people get super surprised when they notice the amount of funding and capital we have access to through different creative ways and creative funding options that our brokers approach to customers with.

So that’s why it’s helping us grow massively and allowing our brokers with usually no background in this industry builds six and even seven figure businesses. Because honestly, if you want to start a business in 2021, you got to make sure that that business should have a couple of things, conditions in place. One, well, you got to be able to do it virtually, right? Because of what we’re going on, because of the shift in the economy and how this is becoming a virtual economy. You got to be able to start a business that allows you to do it free from the location. You got to have the location freedom.

A business that you can run on your own terms.

The second thing is it’s got to be a business that you can run on your own terms. A lot of our brokers when they join our community, they have a 9 to 5 or a 9 to 6 or 8 to 5 or sometimes night shift. So you have a limited time when you’re trying to build a business. So if the business requires you to be on it for 40, 50, 60, 70 hours initially, well, you got to kind of either burn the shifts or you got to have enough money in the bank account to let you survive for a couple of months. Obviously, that’s the ideal condition to start business with, but for most people, they’re not in an ideal situation. They want to transition, right? So most of our brokers are in that category of transitioning away from another business or another job.

Should have products that are in massive demand

The third thing is it should have products that are in massive demand. So you don’t want to be in a business of selling cassette players in 2021, right? So back then maybe it had the demand, not anymore. So one of the best businesses, and I think the best business is the business of helping other people get access to capital, which is what business loan brokerage is, right? So it gives you the time freedom, location freedom, and the financial freedom, which is the most important. So you can work from any place, anywhere, anytime you want, and still be able to sustain a living, grow and also build your wealth, right? That’s really, really important.

Syndicated line of credit

Now you understand a little bit about the business loan brokerage, so we have access to these arsenal of very powerful products that the traditional banks do not have access to. Today, I thought it would be a good idea to talk about one of them, which is probably not many people know about. We call it the syndicated line of credit. So when somebody wants to start their own business, their biggest obstacle is getting access to capital, right? When they go to a traditional bank and try to apply for startup capital, there’s really no real options unless you want to collateralize your home, your car, and some other type of real estate for them to hold on to so they can give you some kind of funding. Even at that level, the process takes forever, it’s cumbersome, and no one is really happy about it.

Based on a research shop, 62% of the people I believe was they said that they’re really not happy with their current bank when it comes to service, right? Because right now, the banks are acting as a place that you deposit money, they take, take, take, take. When it comes to giving back to you, well, they go a little shy on that, and let’s be honest, right? So let’s talk about this funding option. We call it the syndicated line of credit. Our brokers help people who want to start a business, but if they have decent credit, they can get funding up to $100,000, $110,000. What does that mean? So anyone that has a personal credit score of 680 and above, they can go ahead and on their own, normally they can apply for different credit cards at 0% interest, right? Everyone knows that probably.

So you can go ahead and apply for a credit card and get access to 0% interest credit cards that give you a promotional time period for that 0% interest. It could be six months, 12 months to 18 months, right? So you can do that on your own. You don’t really need somebody to do that. The problem is when you want to extend that and have access to as much of that potential as possible, because when you do it yourself, you go ahead and let’s say you apply for a Bank of America credit card and you apply for that and let’s you get approved for $5,000. But at that credit range, your potential approval rate is above usually 50, 60, $70,000. You’re only getting 1/10 of that because the moment you go ahead and try to apply to other credit cards, the banks will notice that you’re going for mass application and they trigger their system to give you disapprovals, although you would have been qualified if you knew how to do that properly.

So this product, SLOC, syndicated line of credit, allows one of our lending partners to do it properly on your behalf. So you kind of 10X the potential of what you would be getting approved on your own. So that way you get access to 50, 60, 70, all the way up to 100, $150,000 in credit, which you can most of the time cash it out into your bank as an ACH deposit. Now, you, as the startup founder, have access to this capital and you usually have 12 to 16 months to pay that back in 0% interest, which is plenty of time to start a profitable business and grow that business and pay that back. Now, that way you got your startup funding without paying any high interest rate, without going through a bank by bank, branch by branch, kind of begging them to give you five, $10,000 and deal with the paperwork, and this process takes usually two weeks or so.

The benefit to the broker

The benefit to the broker is, as you can see, this is a very straightforward product. When you’re talking to startups, they need capital. You understand what it is that they need the capital for. Do they have the credit in place? If they don’t, there are other ways to go around it. They can find a co-signer, which doesn’t have to be a partner in the business, right? So your co-signer doesn’t need to have ownership share in the business. Or I mean, we have partners that allows you to do credit repair, so within two, three months, you’d be ready to go. It will be above 680, so you can still qualify for this specific product.

So for the broker, each client means two and $4,000. Just imagine that. Think of how many people we can help with this product if you had access to it, it would help them get access to start a funding, and by doing so, they gladly pay you for that. The best part is they’re not paying this immediately out of the pocket, right? It comes out of the amount they got approved. Of course, they still owe that. It’s the amount. It’s not free, but they don’t have to have the capital upfront to pay the broker commission that comes out of the approved amount. So for them, it’s a totally seamless transaction. For our brokers, that’s an amazing business opportunity. A lot of them, this is one of the most favorite products in our community and a lot of people built a relatively easy six figure business out of just one product.

So I want to repeat what I said in the beginning. As a broker in our Business Lending Blueprint community, you have access to over a dozen of products that has this strength and some of them have more, right? I just want to take one of them and show you the power of how effective that can be for you to build a six figure business. What does a six figure business mean? It can mean that you break $100,000 a year. It could also mean that you break 400, 500, $600,000 a year and these are all six figure businesses. So you make the call.

Understand your basic needs

Usually, what I teach my members is you got to understand your basic needs. Initially, if your problem is the timing, “Listen, man. I got limited timing. I can’t do this full time.” Then we got to focus on getting you away from what’s eating away your time. Let’s say it’s a job, right? So you got to make at least minimum from this business to match what you’re making at the job so you can get rid of it. That kind of opens up your entire calendar so you can do this full-time, put the same amount of time that you’re putting into a job, but kind of 10X the outcome out of that, right? That’s how you build wealth in this industry. So that’s really, really important.

When a new member starts in our community, we asked them like, “What’s the bare minimum you need to survive and have a roof over your head?” It can range from $2,000 to $10,000 depending on your family size, where you live and your standard of living, right? So the first goal is to reach that level because sometimes people shoot really high, and they come in and say, “All right, I’m here to make a million dollars in two months.” Well, it really doesn’t work that way, all right? So you got to kind of go through the rhythm and the steps to get there. The first goal is you’re doing something that keeps you at this financial level and you’re starting this brand new business with us, right? Our first goal is to get you up here as fast as possible. From this point on, you’re catapulting yourself to the next level, whatever that goal is.

So today I wanted to bring you this product. Hope this gave you some clarity on the power of alternative lending and becoming a business loan broker. This does not require any licensing or any degrees. You can do it from home. It checks the box on all four areas that I mentioned, location freedom, time freedom, financial freedom, and allows us to scale the business to a higher level. Sometimes certain businesses, they have an invisible ceiling where you start out really nice and you notice, “Oh, I can’t really go beyond that.”

Well, that’s not the case with us. Some of our members start with the organic lead generation and they’re generating leads without paying for leads. But over time, you can actually turn on paid advertising and scale your business to the sky. On this channel, we have many examples of that. If you haven’t seen that, I suggest you check that out. If you like content like this, I highly suggest that you like this video and sign up to our YouTube channel, subscribe to our YouTube channel and comment below with your questions and what your thoughts are and I’ll personally respond back to you. Take care now.