🏦 Banks with No-Doc BLOCs (All Tested Approvals)

I've been on a financing spree lately, applying for no-doc Business Lines of Credit (BLOCs) for some owner media deals I've been preparing for. I've been networking with various regional and local banks, and here are my approvals so far:

1. Truist Bank: Offered up to $50K, and I got it approved. Note that Truist's no-doc offerings vary by state, so check with your local banker before diving in.

2. City National: These guys have a higher limit—up to $250K. I pushed the limit and got approved for a whopping $244K!

3. Umpqua Bank: Offers up to $100K, and yes, I snagged the full $100K. The process was smooth and definitely worth checking out.

4. PNC: Known for up to $100K, I walked away with $70K. Not bad, considering the straightforward process.

5. BMO: Offers up to $50K; I was approved for $35K. A bit more conservative, but their regional limitations play a part.

6. Key Bank: Also caps at $50K, and I got the maximum approval. Key Bank has been consistent and reliable.

Insights from My Visits:

East coast banks seem more generous with their BLOC offerings. Also, it's crucial to be in the "footprint" area of these banks for BLOCs, though this isn’t as strict for nationwide credit.

I run a Wyoming LLC among others and have encountered some issues with no-doc loans due to not registering as a foreign entity in California—refusing to shell out $800 in default taxes there since I’m not active in CA anymore.

My Advice: Always confirm with your banker about current no-doc loan programs as banks tend to change their offerings. Being informed and prepared can make a significant difference in your applications.

Anyone else applying for BLOCs or have experiences with these or other banks on the east coast?

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