They Give $50k w/ NO DOCS! Higher Limits Than Navy Federal!

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Business Working Capital - https://tinyurl.com/First-Citizens-Capital
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1) Banking - https://tinyurl.com/novo-checking
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3) Payroll - https://tinyurl.com/ADP-PAYSTUBS
Today, I'm thrilled to share a personal success story about securing a $50,000 business credit card from M&T Bank with 0% interest for the first 12 months and no documentation required. This article is purely informational and not financial advice.

Understanding M&T Bank's Offerings
Before diving into the specifics of obtaining approval, it's essential to understand what M&T Bank offers. M&T Bank is a regional financial institution known for its comprehensive suite of business credit products, including:

Business credit cards
Business lines of credit
Term loans
Equipment financing
SBA loans
In this article, I'll focus on the two types of business credit cards offered by M&T Bank:

Business Rewards Credit Card: This card offers unlimited 2% cash back in the first year and 1.5% thereafter. It's the card I was approved for and will be the primary focus of our discussion.
Traditional Business Credit Card: This card has a lower APR after the introductory period compared to the Business Rewards Credit Card.
Both cards feature a 0% APR for 12 months on purchases and balance transfers, although a 4% balance transfer fee applies.

Application Process for M&T Bank's Business Credit Products
Unfortunately, you cannot apply for M&T Bank's business credit products online. Here are the three methods available for application:

In-Branch: Visit a local M&T Bank branch to apply in person.
Video Conference: Book a video appointment with a bank representative.
Phone: Schedule a call to apply over the phone.
Key Considerations Before Applying
Geographic Limitations
M&T Bank is a regional bank primarily serving the Northeastern U.S., including Maryland, Virginia, Pennsylvania, and New York. If you're not within their service area, you might consider registering a foreign entity to meet eligibility requirements.

Establishing a Banking Relationship
It's crucial to have an M&T Bank business checking account before applying for their credit products. Here are a few tips:

Account Age: The account should be open for at least 90 days.
Active Transactions: Regular deposits and transactions can strengthen your banking relationship, potentially leading to higher credit limits.
The Importance of Stated Income
One of the most significant advantages of applying for M&T Bank's business credit cards is the ability to declare your income without immediate verification ("stated income"). Here's what you need to know:

Application Details: During the application, you'll be asked about your business revenue, personal income, and assets. This information is entered by the loan officer without immediate verification.
Documentation: While I brought documentation for my line of credit application, it was not required for the business credit card application due to different processing requirements within the bank.
Credit Requirements and Approval Process
M&T Bank has stringent underwriting standards, and a good credit score is crucial for approval. Here are some insights into their credit evaluation process:

Credit Score: A minimum FICO score of 700 is recommended. Lower scores may lead to denial due to the bank's conservative nature.
Credit Inquiries: Limit your credit inquiries to no more than three within the last 90 days to avoid appearing credit-hungry, which can be a red flag for lenders.
Insights into Lower APR Qualification
To qualify for the lowest APR on business credit products, a FICO score of at least 800 is required. While this score isn't necessary for approval, it helps secure the most favorable interest rates.

My Personal Experience and Approval
I applied for both a business line of credit and a business credit card during my visit to the branch. Here's a breakdown of my experience:

Immediate Credit Pull: M&T Bank performed a hard inquiry on my credit report, which I was notified of via alerts on my phone.
Approval Notification: Although the approval was almost instant, official correspondence was mailed, which I received about a week later.

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