EIN Only Business Funding Sources

If you’re a business owner looking to obtain funding and build business credit without bringing your personal credit into the mix, EIN only business funding is a smart choice.

Instead of using your SSN or requiring a personal guarantee, you can access financing strictly through an EIN to reduce your risk.

With that said, here are five funding opportunities that are truly EIN only.

1. FairFigure Lift

There are very few financing products that report to major business credit bureaus, are EIN only, don’t check your SSN for credit, or require a personal guarantee. But FairFigure is one of them.

FairFigure Lift is a new type of business credit builder account that allows you to get the working capital you need while also raising your business credit score without bringing your personal credit into the equation. And it’s a great example of how to use your EIN number for credit.

Rather than giving you a traditional business credit card, we deposit cash directly into your business bank account. From there, you make weekly payments, which come out through automatic withdrawals over the course of four to eight weeks.

It’s simple, straightforward, and there are never any surprises as you access business funding. From there, we report your on-time payments to major commercial credit bureaus, which, in turn, helps boost your business credit.

The specific credit bureaus we report to include Dun & Bradstreet, Experian, Equifax Business, Creditsafe, and the SBFE.

That way, business owners can obtain critical business financing while simultaneously raising their business credit score without having to put their personal credit on the line.

By the way, if you’re interested in traditional business credit card EIN only options, here are a couple of our favorite business credit cards:

• Capital One business credit card EIN only
• Chase business credit card EIN only

On top of that, FairFigure also offers robust business credit monitoring services that can further improve your business credit.

With it, you can proactively look for errors or discrepancies that could be detrimental to your business credit score. And you can quickly take action to fix the problem before it can lower your score.

You can also stay on top of your business score so you can see whenever it changes and its overall trajectory.

Besides that, you can ensure that each business line is accurately reported on time to further improve your business credit to unlock future funding opportunities like business credit cards or a business loan.

2. Quill

Buying from a net 30 vendor is one of the most tried and true methods of building business credit through low-documentation “doc loans.”

Even if you’re a new small business owner with a limited business credit history, many vendors are willing to offer business financing with net 30 terms, where you have 30 days to pay an invoice.

You can think of it as a short-term business loan, where you don’t have to get bogged down in the complexities of a small business loan from someone like the Small Business Administration (SBA loan).

As long as you make payments on time, the vendor should report the business loan activity to at least one business credit bureau, which is instrumental in building business credit.

While there are countless net 30 loan term vendors in nearly every imaginable industry, Quill is one that’s EIN only and offers 30-day financing without getting involved with your personal credit.

If you’re unfamiliar, Quill specializes in office and cleaning supplies, including:

• Electronics
• Computers
• Paper
• Ink and toner
• Disinfecting wipes
• Cleaning chemicals
• Bathroom cleaners
• Vacuums

Because of the wide range of products Quill offers, securing a business line from them makes sense for many business owners, as you can get 30-day financing on the products you need while also building credit.

We also like that Quill isn’t overly stringent with the funding requirements of their doc business loans. To qualify for a loan, you simply need to make a $100 purchase and fill out a basic form with your business details.

Within minutes, Quill will let you know if you’re approved or not for a business line. And even if you aren’t approved initially, you’ll be eligible for re-review after 90 days by making purchases with a business card or corporate card.

You can learn all about Quill’s net 30 account here.

3. Advancery

Let us start by saying that finding a merchant cash advance that’s EIN only is difficult. The majority of MCAs will want to look at your personal credit history, especially if you’re a new small business owner with a limited business history.

That said, there is one MCA that does offer cash funding to business owners without performing an SSN check or requiring a personal guarantee. And that’s Advancery.

In their own words, Advancery offers small business owners revenue-based financing where “funds are advanced against the future revenue of the business, purchased at a discount to their likely value. Payback is made as a percentage of the daily or weekly revenue. Instead of an interest rate and term as with a traditional loan, this involves a fixed cost of capital that has a variable time from the daily or weekly remittances as a percentage of revenue until repaid.”

In simple terms, Advancery provides you with a lump sum of money that you pay back over time through a percentage of your credit and debit sales, plus fees.

As long as your business is performing strongly and has the trajectory they’re looking for, there’s a good chance that you’ll qualify for this merchant cash advance.

It’s an extremely flexible way to secure business financing that can be used to fuel growth and provide critical cash flow that can be used for working capital, inventory, equipment financing, and many other expenses you may encounter.

Advancery has a straightforward loan application process and offers same-day approval. You can get a full overview here.

4. Fundthrough

Another way to generate working capital and increase cash flow is with invoice financing. This can be a great funding option if you frequently have significant invoices that take a while to be paid.

Say, for example, you consistently send out invoices with net 60 or 90-day terms. With invoice financing, a lender will pay those invoices in advance (typically for around 75% to 90% of the total value), so you can quickly pump cash flow back into your business.

Rather than waiting two or three months or even longer to get paid, this allows you to maintain a steady stream of cash flow.

The only catch is that you have to pay a small fee (usually 1% to 5%). But in many cases, this is an effective way for a small business to maintain good financial health and grow annual revenue.

When it comes to lenders that offer this form of financing without requiring an SSN or personal guarantee, Fundthrough stands out. As long as the invoice advance credit limit is fairly low at $50,000 or less, the odds are good that you can get this type of EIN business loan.

Fundthrough simply needs your business information, Internal Revenue Service documentation, government ID, and banking information.

If approved, you submit your invoice manually or automatically, and you’ll get an advance without having to bring your personal credit into the fold.

Learn more about Fundthrough’s offerings here.

5. AtoB Unlimited

One additional way to unlock financing and build business credit while separating your personal credit is with a business gas card. This offers an efficient means of keeping company vehicles fueled while carefully tracking fuel usage, miles driven, and overall vehicle expenses.

On top of that, many business gas cards have built-in discounts to help you make your cash go even further.

Choosing this financing option often works well for small business owners because of the streamlined approval process. Many gas providers primarily look at your business performance and EIN rather than your personal credit. And some do not require a personal guarantee.

One of our favorites is AtoB Unlimited, which doesn’t require a personal credit check or personal guarantee. There are also no hidden fees, and it comes with several great features, including the following.

• Real-time spending insights
• Driver and card controls
• Fraud protection and alerts
• Mobile app for on-the-go management
• 24/7 support

We also like that AtoB Unlimited’s universal fuel card works at virtually every pump in the US, which means your drivers don’t have to deal with locating in-network pumps.

They’re all about helping businesses of all sizes run their fleets more efficiently. As they put it, “Whether you manage a small fleet or a nationwide operation, AtoB puts you in the driver’s seat with the tech-powered tools you need to optimize every trip.”

You can get started with this business gas card here.

The Takeaway

Finding EIN only funding can be challenging, especially when you go through conventional routes like a term loan, grant program, or startup business loan. But, fortunately, the lenders and vendors listed above prove that it can be done.

That way, you can generate the cash flow you need without having to jeopardize your personal credit in the process. And it can make it easier to secure future financing, like business credit cards and loans.