06 Sep 2014

Position Yourself Funding

UPDATE: WE NO LONGER OFFER OR RECOMMEND FUNDING SOURCES. We would all like to believe that obtaining business funding is much like obtaining a mortgage or car loan.  Unfortunately, however, is not the case that you can walk into a bank and secure business funding for your startup company or the expansion of a pre-existing company.  We have written about this topic in detail and we concluded that an unsecured business line of credit is preferable to a conventional business loan. It’s more more than applying for credit cards We talk about an unsecured business line of credit people immediately recognize that it is very similar to obtaining credit cards for your business.  While this is technically true, it’s a bit more complicated than clicking the apply now button on the website for capital one bank. In the first place, do you know which banks are offering unsecured business lines of credit?  If you do, do you know which ones have the propensity to offer substantial limits and favorable repayment terms (such as a $30,000 line or 0% interest for up to 18 months)?  Lastly, do you know how to apply for these lines of credit without hurting your overall credit report or credit score and without negatively impacting your chance of obtaining lines of credit from other banks and lending institutions? Resources to make it simple. Inasmuch as we don’t know your business, you may not know ours.  Inasmuch as you have developed skills over the years concerning your trade, so have we concerning ours.  Specifically, while you work on your business and your operating tasks on a day-to-day basis, you simply do not have the time energy or effort to investigate the different options available to you and how to utilize them most efficiently and effectively.  That’s where we come in.  Over the years we’ve established relationships with multiple sources of funding.  We’ve done the investigation for you.  We know who gets the job done and who does not.  That’s what we are offering you: a chance to work with a sufficiently skilled and trained staff dedicated to helping you obtain the funding you need. Zero fees until you’re funded. Not only have we made this process simple, such as our efficient application process, etc., we have also reduced the burden on you and have forced our funding […]

04 Sep 2014

Go It Alone

Why not try to obtain funding by yourself? You can, if you can answer the following questions with “yes”. Do you know where to get funding? The answer was simple in the past, but post recession, funding is very difficult to attain for startup businesses or expansion of companies that do not have 5 million in assets, 36 months consecutive months of positive cash flow, and very high PayDex and personal credit scores. For this reason, you must have established relationships with multiple banks to attain high amounts of business funding. So the question you want to ask yourself is: Do you have established relationships with several banks you have worked with in the past? If yes, do you know how to simultaneously apply to all these different banks so each bank you apply to does not see that you’re inquiring with other banks? Do you know how to negotiate with these banks to increase the lines of credit so you are left with a high amount of funding for your business? I could keep going with questions to ask you about the details of attaining funding, but as you can tell, attaining high amounts of business funding can be very difficult if you are not working with the right company that has the expertise and experience to get you what you want. Do you know if you are ready for funding? Most people think credit is easy to understand. Take negative accounts off. Add positive accounts on. Then, apply for funding. Unfortunately, is not that simple. For example, do you know the balance that you need to maintain in order to apply to different banks for business funding? Do you know which negative accounts on your file could be problematic for attaining funding? Do you know if you have enough credit card history to apply for funding successfully? Last but not least, do you know what banks look for to approve you for high lines of credit for your business? If you do not know the answers to these questions, do not feel bad. I know experts that have been in the funding industry for several years and they still are working on answering these questions adequately. But this is one of many reasons why you should be working with a company that has the expertise to get you […]

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