Dave Wilson and Harry Lyles Jr. preview the most interesting storylines of the week in college football, from Auburn-Penn State to Alabama-Florida.
The post Auburn's first Big Ten road game in 90 years and everything else to watch in Week 3 appeared first on Buy It At A Bargain – Deals And Reviews.
The 2022 Games will feature a best-on-best tournament for the first time since 2014. Here’s intel on tournament format, which countries will be in, and much more.
The post Everything you need to know about NHL players heading back to the Olympics appeared first on Buy It At A Bargain – Deals And Reviews.
Pages on the internet don’t last forever.
Some disappear overnight without warning. Other times, servers go down, or maybe you’re simply curious what your website or someone else’s looked like ten years ago.
So how do you re-access this information?
You need a web cache viewer.
It’s a tool that helps you recover backups or snapshots of websites.
In this guide, we’ll go through some of the best web cache viewer tools to help you turn back time to find missing information or even spy on your competitors.
A web cache viewer lets you see the older version or snapshot of any website, called a cache page. A cached page is a snapshot of the raw HTML and content of a page.
For example, when Google indexes your website, it takes a screenshot of what it looks like at the time and indexes it.
There are several tools to view an archived page, such as Google’s cache feature on search results and websites like the Wayback Machine dedicated to saving the internet’s history.
A web cache viewer is a valuable tool to have in your back pocket. Here are a few times you might want to use this handy tool.
Need to get information from a page with a pesky 404 error? A web cache viewer can help you see the last archived version before it went offline.
If a website went through a major makeover, you could use the cached version to revert the site to what it used to look like. This is particularly helpful for doing competitor analysis. For example, if a competitor suddenly overtook your site in the search results, you can look at older versions of their site to see what they changed.
Not seeing the SEO results you want? Did you know page caching can improve your site speed by reducing server load time by up to 80 percent? Viewing the cached version shows you what Google sees when it crawls your page. If your website is not cached, it can increase your page load times and drastically affect your bounce rate.
If the web page is slow or unresponsive, you can use the cached version to see a snapshot of the site the last time Google indexed the page. Although a cached page won’t always have up-to-date information, it can help you save time.
It’s helpful to know when the last time Google bots successfully visited your page, especially if you’re making changes to your site.
By viewing the cached version, you can see if a page is unresponsive, how it is being cached, and if there is anything you need to un-do.
While viewing cached versions sounds like an admin nightmare, several tools make the process easy, simple, and fast.
Not using Chrome extensions? You’re missing out.
Google’s Chrome extensions are programs you can install to your browser to change its functionality.
For example, you can add extensions that:
The Web Cache Viewer Chrome extension makes it easy for you to view a snapshot of the page you’re visiting. This is useful if you come across a 404 error and want to revert to the older version to see the information.
The Web Cache Viewer extension will:
Which option should you use? The Wayback Machine or Google Cache?
It comes down to what result you want from the tool.
For example, if you want to check Google is caching your site, or you need to view the last cached page of a site, Google Cache is the best option for you.
However, if you want to turn back the wheels of time and dig through a website’s past, you’ll want to use the Wayback Machine.
Got five minutes? That’s all you need to set up the extension and start using its caching functionalities.
Here’s what you need to do.
Step 1: Install the Web Cache Viewer onto your Chrome and activate the extension.
Step 2: Go to the target URL of your choice, right-click on the page, and scroll down to “View Cached Version.”
Step 3: Select either the Google Cache or Wayback Machine option.
After choosing, the extension will show you the Wayback Machine URL for the page or show you the last Google cached version.
Each time Google crawls a web page, it creates a backup, which becomes part of Google’s cache.
Step 1: Do a Google search on your computer for the page you want to find.
Step 2: When the search results load, click on the down arrow next to the site’s URL and select “Cached.”
Step 3: The cached version of the page will load. You can view the “Full Version,” “Text-Only Version,” or “View Source.”
Keep in mind that you won’t be able to navigate to other pages on the site. If you do, it will take you to the live version. You can also access the live page by clicking on the “Current Page” link at the top of the page.
Struggling to find the page you want via search results? If you have the Chrome browser, you can use the address bar to get the cached version of any URL.
Step 1: Open the Chrome browser.
Step 2: Type “cache” in the address bar followed by the URL. For example, “cache:https://neilpatel.com”
Step 3: The cached version will load, and you’ll have the same three version formats to choose from with the Google search method.
Wish you could travel back in time? Well, you can with Archive.Today.
The website is a time capsule for the internet. It takes a snapshot of a page and stores it forever, even if the original disappears.
The site saves text and graphics and will give you a link to the unalterable record of the web page.
The only catch?
You need to manually submit web pages and can only view entries that have previously been saved.
Step 1: Go to Archive.Today and scroll down to “I want to search the archive for saved snapshots.”
Step 2: Enter the URL you want to search.
Step 3: A new page will load, and you’ll see snapshots listed from oldest to newest. Click on the one you want to view.
A secure, non-editable version of the page will load. You have the option to download the zip file, share the link, and view the webpage or screenshot.
The Internet Archives runs the Wayback Machine. It’s a non-profit building a digital library of the internet’s history.
You can explore more than 553 billion cached web pages, and the site hosts an archive of text, video, audio, software, and images.
Step 1: Go to Archive.org and enter the URL or keyword you want to view in the Wayback Machine search bar.
Step 2: A search results page will load. Click on the URL of the page you want to view.
Step 3: Use the calendar at the top of the page to see what the website looked like during a specific time period.
For example, if you search neilpatel.com, you can see what my blog was like in 2013!
Don’t want to log onto the Wayback Machine every time you want to view a cached page? Download the Chrome extension.
If your site is not on the Wayback Machine, you can manually submit your URL, and it will automatically create a snapshot for you. This is useful if you want to track how your site evolves through the years.
Cachedpage.co is a website that consolidates a few of the tools I’ve mentioned already.
Once you type the URL of the page you want to view, you have three options to choose from:
Select the one you want to use, and Cached Page will redirect you to those respective sites.
It doesn’t do any caching itself, so this site is only useful if you want to save time hopping between caching tools.
As you can see, a web cache viewer is an important SEO and marketing tool to have in your online arsenal.
It can quickly help you find information removed from the internet, see how your site has changed over the years, and tell you if Google isn’t indexing your site correctly.
While there are many tools available, remember to keep intent in mind. Do you only want to view the last cached version of a page, or do you need to go further back into time?
Your answer will help you find the right solution to your caching problem.
What’s your favorite web cache viewer tool, and how to use it?
Regardless of the election outcome this week, some key decisions relevant to investors may be made by regulators who won’t change right away.
The post On Regulation, Elections Don't Change Everything first appeared on Online Web Store Site.
Asking questions can be scary. It makes us feel vulnerable. Some feel it’s a sign of weakness. The truth is, you don’t know what you don’t know. What you don’t know, really can hurt you, and the only way to get in the know, is to ask. Here are some things you need to know about capital loans.
This type of loan is a mainstay in the business lending world. However, if you are new to running your own business, you may be confused by some of the terms commonly thrown around.
In the simplest terms, capital refers to the assets of the business that go on the balance sheet. So, capital loans are loans for funds that are to be used to either start a business or be reinvested in a business. This could be for expansion, improvements, and more. Basically, this is money you would spend on those things that go under long-term assets on the balance sheet. It’s money that is to be reinvested in the business, or used to buy an existing business or start a new business.
Working capital is money you use to run your business from day to day. It is still money that is reinvested in the business, but it isn’t used on long-term assets. Rather, the funds go toward the daily ins and outs of running a business, like payroll, utilities expense, and more.
Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.
Now that you understand the difference, you may be asking yourself which you need. Do you need capital loans or working capital? I imagine the gears are turning in your head right now trying to figure it out. If you want startup capital, or if you need to invest in something big, you need capital loans. If you need funds to handle regular expenses, that means you need working capital. Sometimes this is easy to determine, but sometimes it isn’t so cut and dry.
That depends on how bad your credit is. If it’s above 680, Small Business Administration loan programs may be an option. Try these to start:
Here are some options The Small Business Administration offers for capital loans and working capital.
This is arguably the most popular of the SBA loan programs out there. Mainly, this is because it offers federally funded term loans up to $5 million. The funds can be used for a number of things including expansion, purchasing equipment, working capital and more. Banks, credit unions, and other specialized institutions, in partnership with the SBA, process these loans and disburse the funds.
The minimum credit score to qualify is 680. That’s not exactly a bad credit score, but is it less than what you need to get most traditional loans without an SBA guarantee. Also, there is a required down payment of at least 10% for the purchase of a business, commercial real estate, or equipment. Lastly, the minimum time in business is 2 years. In the case of startups, business experience equivalent to two years will do the trick.
Funds are available for a wide variety of projects, including capital projects.
These loans are available up to $5 million. They can be used to buy machinery, facilities, or land. These are all capital projects. Private sector lenders or nonprofits process and disburse these loans. They especially work well for commercial real estate purchases.
Terms for 504 Loans range from 10 to 20 years. Unfortunately, funding can take from 30 to 90 days. They require a minimum credit score of 680, and collateral is the asset the loan is financing. Furthermore, there is a down payment requirement of 10%, which can increase to 15% for a new business.
Also, you be in business for at least 2 years, or management must have equivalent experience if the business is a startup.
There are 4 distinct CAPLine programs offered by the SBA. They differ mostly in the expenses they can fund. These CAPLInes are designed to help businesses meet short-term or cyclical working capital needs. Each of them goes up to $5 million. Furthermore, the interest rate for each ranges from 7% to 10%. Again, funding can take 45 to 90 days.
The four different programs are:
This is financing for businesses preparing for a seasonal increase in sales.
Financing for businesses that need funding to fill a contract.
Financing for businesses taking on a real estate or construction project.
Financing for businesses that are struggling with a short-term slump in sales.
The minimum credit score to qualify for these is also 680. However, there is no minimum time in business requirement unless you are getting a seasonal CAPLine. You have to be in business at least one year to get that one.
Private lenders are another option for capital loans and working capital if your credit isn’t the best.
Upstart is an innovative online lender. The company itself questions the ability of financial information and FICO on their own to determine the true risk of lending to a specific borrower. Instead, they choose to use a combination of artificial intelligence (AI) and machine learning to gather alternative data. They then use this data to help them make credit decisions.
This alternative data can include such things as mobile phone bills, rent, deposits, withdrawals, and even other information less directly tied to finances. The software they use learns and improves on its own. You can use their online quote tool to play with different amounts and terms to see the various interest rate possibilities. Typically, business loans are available ranging from $1,000 to $50,000.
To be eligible for a loan with Upstart, you must meet the following qualifications:
Founded in 2008 by college roommates, online lender Fora Financial now funds more than $1.3 million in working capital around the United States. There is no minimum credit score, and there is an early repayment discount if you qualify.
The minimum loan amount is $5,000 and the maximum is $500,000. The business must be at least 6 months in operation and the monthly revenue has to be $12,000 or more. There can be no open bankruptcies.
Popular online lender Lending Club offers term loans. Business loans from $5,000 to $300,000. The loan terms are 1 to 5 years. You can get a quote in less than 5 minutes. Funds are available in as little as 48 hours if approved. There are no prepayment penalties. Annual Revenue must be $75,000 or more, and you must be in business for at least 2 years. Also, a personal FICO score of at least 620 is necessary.
Quarter Spot is an online lender that offers short term loans. $5,000 to $150,000 is available.
Your company must have annual revenue of $200,000 or more, and there is no fee to apply.
The minimum time in business is 12 months. There is a required minimum average bank balance of $20,000, and you have to show a minimum of $16,000 in monthly sales. The borrower must own at least 50% of the business as well.
OnDeck offers short term loans and lines of credit. For short term loans, amounts are available from $5,000 to $250,000 with terms of 3 to 24 months.
Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.
You must have annual revenue of $100,000 or more. In addition, your personal FICO Score has to be 600 or better. In addition, there is a time in business requirement of at least 3 years.
Kiva
Kiva is an online lender that is a little different. For example, the interest rate is 0%, so even though you have to pay it back it is absolutely free money. They don’t even check your credit. However, there is one catch. You have to get at least 5 family members or friends to throw some money in the pot as well. In addition, you have to pitch in a $25 loan to another business on the platform.
Yes, there are. One of the newest options out there today is the credit line hybrid. A credit line hybrid is basically revolving, unsecured financing. It allows you to fund your business without putting up collateral, and you only pay back what you use.
You do need good personal credit. Your personal credit score should be at least 685. This is lower than what is required for many traditional loans, especially for the lower interest rate options.
In addition, you can’t have any liens, judgments, bankruptcies or late payments. Furthermore, in the past 6 months you should have less than 5 credit inquiries, and you should have less than a 45% balance on all business and personal credit cards. It’s also preferred that you have established business credit as well as personal credit.
If you do not meet all of the requirements, don’t sweat it. You can take on a credit partner that meets each of these requirements. Many business owners work with a friend or relative to fund their business. If a relative or a friend meets all of these requirements, they can partner with you to allow you to tap into their credit to access funding.
There are many benefits to using a credit line hybrid. First, it is unsecured, meaning you do not have to have any collateral to put up. Next, the funding is “no-doc.” This means you do not have to provide any bank statements or financials.
Not only that, but typically approval is up to 5x that of the highest credit limit on the personal credit report. Additionally, often you can get interest rates as low as 0% for the first few months, allowing you to put that savings back into your business.
The process is quick, especially with an expert guide to walk you through it. One other benefit is, with the approval for multiple credit cards, competition is created. This makes it easier, and likely even if you handle the credit responsibly, that you can get interest rates lowered and limits raised every few months.
A credit line hybrid can work well as either a straight capital loan or for working capital. Once you have it, you can use it as needed for whatever opportunities come your way.
There is more to eligibility than credit score. The key to eligibility for capital loans is to have overall fundability. What’s that? In short, it’s the ability of your business to get funding. It encompasses so many things however, it can be hard to get your arms around.
One thing that doesn’t change is, the first step in having a fundable business is in how you set that business up. For example, you shouldn’t use your own phone number and address. Your business needs a separate phone number and address. You also need to get an EIN to use on credit applications rather than using your SSN to apply for credit.
Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.
A separate, dedicated bank account is another must when it comes to fundability. Even more important, you must incorporate. That’s non-negotiable. It is necessary to separate your business from yourself personally and it helps your business gain more credibility with lenders as one that is legitimate. This is just a taste of what can affect fundability. There is so much more.
Sometimes, you don’t know what you don’t know. Maybe some of these are questions you never thought to ask. Applying for loans can be daunting, especially when you feel like you will never qualify. These options for capital loans can help, and in the meantime, work on fundability. With strong fundability, your business will never be without the funding it needs to survive and thrive.
The post Everything You Wanted to Know About Capital Loans and Were Too Embarrassed to Ask appeared first on Credit Suite.
The race in Austria this weekend looks quite different than the F1 that left the Abu Dhabi GP last December.
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Crowdfunding for business startup is just one of many options. For some, crowdfunding is a foreign concept. In contrast, others know just what is happening. If you are looking to start a business with minimal debt, crowdfunding could be the answer. If you’re lucky.
Still, it may not be the answer at all. First, it isn’t cost free, though it does have minimal costs compared to some other options. Truly, the main costs associated with crowdfunding for business are related to marketing your campaign in order to attract investors. Yet, other costs include any fees charged by the crowdfunding platform.
If you are lucky enough to meet your goal, you are golden. Just imagine, all you have to do is live up to your campaign promises and you have no debt related to those funds. However, if you do not meet your funding needs on the campaign alone, you are out those marketing costs and you still have to find additional funds. It’s a fine line to balance.
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The truth is, with crowdfunding for business, there is no need to limit yourself to just one or two large investors. You can find a lot of investors to fund your business a few bucks at the time. In fact, some even kick in as little as $5.
Crowdfunding is a good starting point for a new business. Still, it shouldn’t be relied upon completely. Truly, you need a backup plan. Unfortunately, only a small percentage of crowdfunding campaigns are successful. Furthermore, consider how the economy is doing before you rely too heavily on crowdfunding. If the economy isn’t strong, people will not be as likely to invest.
There are many crowdfunding platforms, but they aren’t all exactly the same. You have to check them each out and figure out which one will work best for your business. We’ll start with the two most popular options.
They are the largest crowdfunding for business platform. With over 14 million backers, they boast over 130,000 funded projects. These include products and services related to:
With Kickstarter, you must have a prototype. In addition, projects cannot be for charity. However, nonprofits can use Kickstarter. Also, you are not allowed to offer equity in a company as a perk.
Other banned projects and perks include anything to do with:
Creators collect a 5% fee on all funds. They also use a payment processor, Stripe, that applies payment processing fees (roughly 3-5%). Unsuccessful campaigns do not pay a fee. There are also fees of 3% + $0.20 per pledge. Pledges under $10 have to pay a discounted micro pledge fee of 5% + $0.05 per pledge.
Indiegogo has over 9 million investors. The minimum goal they allow campaigns is $500. They charge 5% platform fees and 3% + 30¢ third-party credit card fees. It is important to note that fees are deducted from the amount raised, not the goal. As a result, if you raise more than your goal, you will pay more in fees. PayPal is not accepted.
Indiegogo is noteworthy because they offer flexible financing in addition to fixed financing options. So, if you do not make your goal and you chose flexible funding, you can at least hold onto what you collected. This is the opposite of how crowdfunding normally works.
You cannot change your fundraising structure from fixed to flexible, or vice versa, once the campaign starts. They recommend fixed funding if you need a minimum amount for your project. Indiegogo recommends regular communications to donors if you choose fixed funding.
RocketHub is better suited for those who need venture capital. They give you an ELEQUITY Funding Room. There, you can pitch your idea and see if it stimulates any interest from donors.
This platform is specifically for business owners working on projects related to:
If you achieve your fundraising goal, you will pay a fee of 4%. In addition, you’ll pay a 4% credit card handling fee. But if you do not reach your goal, then that fee jumps up to 8% plus the credit card handling fee. That means RocketHub is best for companies that
are more confident they will make their goals.
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CircleUp aims to help emerging brands and companies raise capital for growth projects. However, companies must apply and show revenue of at least $1 million to get a listing on the site. That said, the platform will sometimes make exceptions.
CircleUp can be good for those who already have a somewhat established business. That includes business owners who want both funding and guidance in order to take their businesses to the next level.
If your business gets approval for listing on CircleUp, the fee percentage comes from the total amount you raise.
GoGetFunding has been around since 2011. They let fundraisers keep the money they raise, regardless of whether they meet their target. If your business idea is unproven and you are unsure of whether you can meet your funding needs with a crowdfunding for business campaign, flexible funding can be a great option.
They charge a 6.9% fee. This is pretty high, but it includes both the platform fee and the payment processing fee. Therefore, it is actually more cost-effective than many other crowdfunding for business options.
With Crowdfunder, investors purchase equity in promising companies. They consider campaigns to be deals, and its donors are investors. Basic listings are $449/month. Self-start listings are $499/month. Self-start plus is $999/month. In their community, there are over 15,000 investors and 200,000 startups.
This is a crowdfunding for business platform that allows companies raise funds from investors, customers, and friends. They have over $80 million in funding commitments.
Fundable does allow equity campaigns. Also, they charge $179 per month to raise funds. Fees on rewards are: 3.5% + 30¢ per transaction. They do not charge success fees.
Fundly allows for crowdfunding for creative ventures. If your business has a creative lean, this might work for you.
There is no minimum amount to fundraise or to keep money you raise. You can usually withdraw payments within 24 – 48 hours of the donation. In addition, they offer automatic transfers. It is free to create and share an online fundraising campaign.
Yet, Fundly will deduct a 4.9% fee from each donation you get. A credit card processing fee of 3% is also taken out from each donation. Also, there are nonspecific automatic discounts for larger campaigns.
A lot of times crowdfunding for business is not successful. There are some campaigns that find their proverbial gold at the end of the rainbow however. Consider these examples.
They actually have more than one of the top 10 campaigns ever on Kickstarter. Their 2nd campaign is one of the highest funded ever. It hit over $20,000,000. That’s not too bad considering their goal of only $500,000.
They eventually sold to FitBit.
The FlowHive Indiegogo campaign caused quite a buzz. The idea was to find a way to get the honey from bees without causing the bees harm.
Traditionally, they just break open the hives to get honey. However, this process can kill the bees. FlowHive developed a fake hive. It is made from reusable plastic. Bees make honey in it, and the honey flows out through a spout. The bees are safe and fresh honey is readily available.
It seems beekeeping is growing in interest. This campaign raised $14,000,000. Though they won’t let on as to what the exact numbers are, those in charge say they are still turning a profit.
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CoolestCooler
The coolest cooler was a super cool Kickstarter campaign that brought in over $13,000,000. The cooler had bluetooth and a blender among other things. Investors got one for their donation toward the cause.
This campaign did run into some trouble when it wasn’t able to deliver rewards as quickly as promised. There was actually a lawsuit. In the end, everything worked out and everyone got what they were promised.
The CoolestCooler group says they are glad to put that behind them and get back to work. You can still buy one today.
A lot of people jumped in on this one, to the tune of $12,000,000 on Kickstarter for this surprisingly popular board game. It did take a while to get going, but investors finally got their copy. After production was over, resale values skyrocketed upwards of $1,000 per game. A later campaign promising updated material did just as well.
This jacket boasts 10 different design elements, like a drink holder and a neck pillow. They raised over $11,000,000 across 2 campaigns. While it had a rough start, including the jacket being available on retail sites before investors even got theirs, it is still selling today.
There is no such thing as guaranteed success. Luck truly has an awful lot to do with it. In lieu of catching a leprechaun however, these steps can help make sure you give yourself the best chance possible when it comes to crowdfunding for business.
You have to know your market and what demand looks like. The only way to find that out is to research. Figure out how much money you actually need before you set your goal. Lots of business owners have started crowdfunding campaigns only to find the demand isn’t there or their goal fell short of the actual need.
For products, you need to have a sample to show investors. This is important. People are much more likely to let go of money if they can see something tangible. This is so vital that Kickstarter actually mandates that you to have a prototype to show potential investors
Once you know who your target audience is, you can determine if you would be best served by Kickstarter, Indiegogo, or another successful platform that is not as well known. If your audience doesn’t use the platform you are on, it won’t matter how great your idea or product is. They’ll never see it.
Give Awesome Incentives
This is huge. Be sure you can deliver on your promises. Yet, don’t give away the company. Still, if someone one is going to help you get started, they deserve something amazing. Offer more than a thank you note. Be bold with what you offer as a reward for their support, without harming your success.
Set a Goal
Setting attainable goals is necessary to success. Make certain you look at the numbers in relation to actual facts before you set a fundraising goal. Be certain you have production facilities on the line that can meet the timeline goals. Do not randomly set goals with no clue what it will take to reach them.
It’s All in the Marketing
You can’t just willy nilly throw a campaign together. If you create a video, it needs to be professionally edited. Any social media should be specifically targeted toward your audience. If they are a cheesy, audience, then that is how your social media and videos need to be. A more sophisticated audience will need a different feel.
Keep in mind, when it comes to crowdfunding, you need a backup plan. Don’t count on rainbows and leprechauns. Honestly, there are far more unsuccessful campaigns than there are successful ones. In fact, competition is fierce. It’s definitely worth trying, but remember that you are likely going to need other types of funding as well.
Finally, you need to work on building fundability. That is the ability of your business to get funding. Everything from traditional business loans to business credit cards and lines of credit require a business to be fundable for approval. Furthermore, part of being fundable is having great business credit, which also requires a specific process to build. Do not neglect fundability and business credit while your crowdfunding campaign is running. Those funds will only last so long, if you even get enough to get started.
The post Do You Feel Lucky? Everything You Need to Know About Crowdfunding for Business appeared first on Credit Suite.
PAYDEX is important to your business credit. In fact, the D&B PAYDEX is one of the most common tools used by lenders to determine credit risk. There are a couple of reasons for this. First, Dun & Bradstreet is one of the largest and most commonly used business credit reporting agencies. Next, the PAYDEX score is the most like the personal FICO score, so it is easy for lenders to understand.
Though the PAYDEX is the most commonly used, there are other reports that Dun & Bradstreet issue that can be helpful to lenders. You need to know about all of them, because you never know what all a lender will look at.
Learn more here and start building business credit with your company’s EIN, not your SSN.
The PAYDEX Score is Dun & Bradstreet’s score that tells the lender how well your business has paid the bills over the past year. D & B bases this score on trade experiences documented by vendors. It ranges from 1 to 100. The higher the score, the lower the perceived risk. In business credit terms, it is the most similar to the personal FICO score. This is why it is the most popular business credit option among lenders.
In addition to the PAYDEX, D&B issues the following options for lenders.
To estimate how likely a company is to be late in paying debts, Dun & Bradstreet uses predictive models. They use predictive scoring, which takes past data to try to predict what will happen in the future. They do this by figuring out the potential risk of a future decision. Then they compare the historical information to a future event. Thus, predictive scoring only represents a statistical probability. It is not a guarantee.
The Financial Stress Percentile compares companies in categories such as region, industry, number of employees, or number of years in the business. Financial Stress Score Norms determine an average score and percentile for like firms.
Dun & Bradstreet generates Financial Stress Scores to predict how likely it is a business will fail over the next twelve months. These scores range between from 1,001 to 1,875. A score of 1,001 represents the highest probability while a figure of 1,875 shows the lowest probability of business failure.
This is a rating from D&B that places business in classes from 1 to 5. Class 1 includes businesses least likely to fail, while class 5 includes those firms most likely to fail. Therefore, a D & B customer can rapidly divvy their new and existing accounts by risk and then determine how to proceed. If your business is shown as being Discontinued at This Location; Higher Risk; or Open Bankruptcy, you are going to automatically get a 0 score.
This score has a 1-100 ranking where a 1 percentile is most likely to fail and a 100 percentile is least likely to fail. If D&B identifies a company as financially stressed, that indicates it has stopped operations following assignment of bankruptcy, voluntarily withdrawn from business operation with unpaid obligations, or closed up shop with a loss to creditors. It could also mean a company is in receivership, reorganization, or has made some sort of an arrangement for the benefit of creditors.
The Supplier Evaluation Risk Rating (also called a SER Rating) predicts how likely it is a company will get legal relief from creditors or end operations without paying creditors in full over the next twelve months. Once Dun & Bradstreet calculates the Financial Stress Score percentile for your company, they apply a second set of rules to calculate the SER Rating, on a scale of 1 – 9. A 1 means your company is least likely to fail to pay suppliers. A 9 is the opposite, showing the highest likelihood.
A D&B Credit Limit Recommendation includes two recommended guidelines:
D & B bases these dollar guideline levels on a historical evaluation of the credit demand for similar businesses, with respect to employee size and industry. They assess how likely a business is to continue to pay obligations according to the agreed-upon terms, and how likely it is to experience financial stress in the next twelve months.
Learn more here and start building business credit with your company’s EIN, not your SSN.
A D&B Rating helps lenders assess a business’s size and credit potential. Dun & Bradstreet bases this rating on details in your company’s balance sheet and an overall evaluation of the firm’s creditworthiness. The scale goes from 5A to HH.
This number, between 1 through 4, makes up the second half of your firm’s rating. It reflects Dun & Bradstreet’s overall rating of your business’s creditworthiness. They analyze company payments, financial information, public records, business age, and other factors.
If your company does not supply current financial information, you cannot get a Composite Credit Appraisal rating of better than a 2. The 1R and 2R ratings show company size only based on the total number of employees. Consequently, these ratings are assigned if your company’s file does not contain a current financial statement. Employee Range (ER) Ratings apply to specific lines of business that are hard to put into categories under the D & B Rating system. These kinds of businesses receive an Employee Range symbol based upon the number of employees and that is all.
In general, when Dun & Bradstreet does not have all of the information they need, they will show that in their reports. However, omitted information does not necessarily mean your firm is a poor credit risk.
The first step is to ensure your business is set up properly to separate it from yourself. You don’t want business credit accounts reporting to your personal credit. They need to report to your business credit only. How do you make this happen? Glad you asked.
The first step in setting up a foundation of fundability is to ensure your business has its own phone number, fax number, and address. Then, when you apply for credit accounts, use that information and not your personal information.
That doesn’t mean you have to get a separate phone line, or even a separate location. You can still run your business from your home or on your computer if that is what you want. You do not even have to have a fax machine.
In fact, you can get a business phone number and fax number that will work over the internet instead of phone lines. In addition, the phone number will forward to any phone you want it to so you can still use your personal cell phone or landline. Whenever someone calls your business number it will ring straight to you.
Faxes can be sent to an online fax service, if anyone ever happens to actually fax you. This part may seem outdated, but it does help your business appear legitimate to lenders.
You can use a virtual office for a business address. How do you get a virtual office? What is that? It’s not what you may think. This is a business that offers a physical address for a fee, and sometimes they even offer mail service and live receptionist services. In addition, there are some that offer meeting spaces for those times you may need to meet a client or customer in person.
The next thing you need to do is get an EIN for your business. This is an identifying number for your business that works similar to how your SSN works for you personally. Some business owners use their SSN to apply for business accounts. This is what a lot of sole proprietorships and partnerships do. However, it really doesn’t look professional to lenders. It can cause your personal and business credit to get mixed up. When you are looking to increase fundability, you need to apply for and use an EIN. You can get one for free from the IRS.
This is the most important step separating your business from yourself. Incorporating your business as an LLC, S-corp, or corporation is necessary to fundability as well. It lends credence to your business as one that is legitimate and it offers some protection from liability.
Which option you choose does not matter as much for business credit and fundability as it does for your budget and needs for liability protection. The best thing to do is talk to your attorney or a tax professional. What is going to happen is that you are going to lose the time in business that you have. When you incorporate, you become a new entity. You basically have to start over. You’ll also lose any positive payment history you may have accumulated.
This is why you have to incorporate as soon as possible. Not only is it necessary for fundability and for building business credit, but so is time in business. The longer you have been in business the more fundable you appear to be. That starts on the date of incorporation, regardless of when you actually started doing business.
You have to open a separate, dedicated business bank account. There are a few reasons for this. First, it will help you keep track of business finances. It will also help you keep them separate from personal finances for tax purposes.
Learn more here and start building business credit with your company’s EIN, not your SSN.
There’s more to it however. There are several types of funding you cannot get without a business bank account. Many lenders and credit cards want to see one with a minimum average balance. In addition, you cannot get a merchant account without a business account at a bank. That means, you cannot take credit card payments. Studies show consumers tend to spend more when they can pay by credit card.
Once you are certain your business is established as an entity separate from you as the owner, you need a DUNS Number. This 9-digit number is a unique identifying number that works to establish a business credit file with D & B. A DUNS (Data Universal Number System) works to keep accurate and timely data on over 250 million businesses around the globe. You want your business to be one of them.
From an identification standpoint, it makes a lot of sense. With the use of this identifier, errors can be kept to a minimum. As a result, Dun & Bradstreet will never confuse your business with someone else’s.
Dun & Bradstreet requires that you register your company for free on their site to get a number. There are a few other ways to get a DUNS if your business belongs to a special class. These include if it is a US government contractor or grantee, your company is Canadian, or you are working as an Apple developer.
Registration is fast and simple. Once you have said yes to their Terms and Conditions, you are taken straight to a dashboard where you either ask for a DUNS number or you look up to see if your business is already listed. If it is already on the big list, then you click on your company’s name to make any needed changes.
By understanding what the D&B PAYDEX is, how it works, and how lenders use it, you can have a better feel for how fundable your business is. The PAYDEX is one measure of business credit, and business credit is just one piece of a business’s overall fundability.
While other aspects of fundability are important, business credit is the one that is easiest to control. All you have to do is make your payments consistently on-time. If you do that, you PAYDEX will be fabulous and you will be able to get whatever funding you need to run and grow your business.
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Experian is one of the big three credit reporting agencies. Equifax and Dun & Bradstreet are the other two. In fact, Experian keeps business credit profiles on 99.9% of all American companies. Furthermore, it boasts the most in-depth information on small and midsize businesses. Knowing this, it is easy to see why your Experian business credit score is important.
Obviously, the score is important. As a result, it is necessary to know how Experian gets their data on your business. How do they calculate your Experian business credit score? What does their report tell lenders? More than that, can you improve your score if it isn’t great?
Keep your business protected with our professional business credit monitoring.
According to Experian, all their information comes from third parties. This means you cannot add any information to your company credit profile. That said, you can still review your report for mistakes.
You still have to ensure your business is set up properly. If it isn’t, third parties will not recognize your company as a business. You have to establish your business as an entity separate from yourself. Otherwise, your business transactions will get mixed up with personal transactions. They may show up on your personal credit report. This will cause a huge tangle of a mess.
To separate your business from yourself, make sure your business has the following.
You have to set up your business to be separate from yourself so your business accounts will report to the business CRAs. With Experian, the main business credit score and report is the Intelliscore Plus. Along with your Experian business credit score, the report contains the following:
First, there is the standard identifying information. This includes company name and address, in addition to any ownership information. This part also lists important personnel and the type of company you have. Time in business, number of employees, and the amount of yearly sales are also in this section.
After this, there is a section that lists how delinquent payments are, along with how many days late they are. It also provides an overall trend. For example, the lowest and highest balance for the past six months. Current balance is also shown. So it shows the credit limit available to your business. And this is how the report gives an idea of the credit utilization rate for your company.
In addition, this part lists the number of tradelines your business holds. It also includes how many times a company has checked your credit and any UCC filings.
It also shows the percent of businesses doing worse than yours as well. The number of bankruptcies, liens, and judgments are in this section too.
The credit summary shows your business’s Experian credit score. Also, it links to information on what goes into the score and tips on the best ways to improve it.
Next, you see the payment summary. There are line graphs for monthly and quarterly payment trends. Conveniently, it also shows where the numbers come from. There is even a graph that shows the monthly payment trend in relation to the what is average for the industry.
Below this, there are three bar charts showing payment trends for the past 6 months. This is as reported from the tradelines.
The next part is about how your business has done with its payments, broken down by type of account.
Next up are inquiries into your small business’s credit. The list names companies making inquiries and the month the inquiry was made.
If your company has any collection filings, the listing is here by date. It includes collection agency name, status, amounts, and the close date, if appropriate.
The summary is relatively self-explanatory. It is just below the collection filings portion.
Keep your business protected with our professional business credit monitoring.
Here, Experian lists all the data it has on your business relationships. Specifically, this includes relationships with insurance, commercial banking, and leasing companies. For example, how much credit was extended? When did the loan start? What is the remaining balance, if any?
Next is the report on legal information. It includes the court where a judgment was filed, the date, and how much it was for.
Tax lien filing information is similar to judgment filings. The only difference is there is a listing for a filing location instead of court.
In this section you will see the following information related to UCC filings:
Just beneath is the UCC filings summary, broken down by filing period and type of filing.
Experian will also include an entrepreneur profile for smaller companies. The purpose is to show the relationships between you, the person, and your business. This automatically links the credit history of more than 5 million business owners to their business credit report.
It makes it much easier for your creditors to access your personal credit. This aids them in determining your overall creditworthiness. That’s important. It means that you can do the work to establish separate business credit. But your personal credit still matters. But this is in some cases.
The Intelliscore Plus credit score is a credit-risk evaluation based on statistics. The goal is to help businesses, investors, and prospective lenders make decisions about creditworthiness.
It’s similar to how lenders use your personal credit score. Before they decide to lend money to you, they check your credit score. The Intelliscore Plus can provide an idea of the credit risk associated with a specific business.
The scores range from 1 to 100. The higher your score, the lower your risk class. Alternatively, the lower your score, the higher your risk class. The chart below describes each range and what it means to lenders.
Score Range Risk Class
76 – 100 Low
51 – 752 Low – Medium
26 – 503 Medium
11 – 254 High – Medium
1 – 105 High
In the credit world, Intelliscore Plus is one of the best tools for predicting risk. One reason is that they identify key factors that show how likely a business is to pay their debt.
There are over 800 of these factors. However, they can all fit into the following general categories.
Not surprisingly, this is how well you are making payments. It includes the number of times your accounts become delinquent. It also shows the percent of accounts that are currently late. Your overall trade balance is listed too.
Frequency refers to the amount of times your accounts have been sent to collections. It includes the number of liens and judgments you may have. Any bankruptcies related to your business or personal accounts also show up here.
In addition, frequency has to do with your payment patterns. Were you regularly slow or late with payment? Did you start off paying bills late but get better over time?
This specific factor focuses on how you use credit. For example, how much of your available credit is currently in use? Do you have a high ratio of delinquent balances in relation to your credit limits?
If you are about to start a business or are somewhat new to this game, the list above may seem a bit overwhelming. But what if your business is not yet in operation? Or you do not have a long history of business transactions? Then how will they rate you?
In this case, a blended model is used to establish your score. That means they consider your personal consumer credit score with your business’s credit score.
Experian offers a number of other products as well. These include reports designed to help you as the owner monitor your business credit.
This one is currently $149 monthly and contains mobile-friendly alerts and score improvement tips.
This report is currently priced at $49.95. It features comprehensive financial payment data and predictive information on payment behavior.
This is the least expensive of the reports, currently priced at $39.95. Basically, it includes comprehensive business and credit information. Also, there is a summary of financial payment data.
This report sells for $99 right now. It shows the value of your company and contains Key Performance Indicators. Additionally, it shows your business’s fair market value.
Keep your business protected with our professional business credit monitoring.
Experian also furnishes premium corporate profiles at an addition cost. The enhanced profiles contain even more detail including:
This is in addition to the data supplied in their basic corporate profiles. They also have information on credit inquiries made in the past nine months.
Not surprisingly, you can subscribe to business credit alerts. Experian’s Business Credit Advantage program serves as a self-monitoring service. You get unlimited access to your business’s business credit report and score. You can make use of this tool for proactively handling your business credit. Alerts are sent for:
There are ways to monitor your Experian business credit score for a fraction of the cost. Be sure to do your research.
If your Experian business credit score isn’t the best, there are a few things you can do to improve it. It takes time, but it is possible.
Paying your bills on time will help establish your small business as one that meets financial obligations. This will eventually help push your score up. As a result, lenders will view your business as low risk.
Keep your debt low. That’s good advice. Still, opening business credit accounts can help raise your credit score. The key is to use all credit responsibly.
By now, you’re aware that your personal credit is fair game when it comes to your Intelliscore Plus score. Running a business is hard work. However, don’t let your personal finances suffer. See to it you stay on top of your personal debt. Steer clear of credit checks that are not necessary. Basically, do not compromise your personal credit for business needs.
Your credit score from all of the business credit reporting agencies is important. Each one can affect your ability to get funding. One isn’t more important than the other. This is because you never know which agency a lender may use.
However, credit score isn’t the only thing that matters. Business credit scores are just one piece of overall business fundability. There is so much more to it. Fundability as a whole is much more complicated than just business credit. The bigger picture is just as important.
What makes up this bigger picture? There are a number of things that go into fundability. For example, you have to have all of the licenses necessary to run your business. In addition, there has to be consistency in your business information across all platforms. Of course, your business has to be set up to be fundable as well. All of this and more comes together to form the complete fundability of your business. Are you wondering if your business is fundable? Take a minute and do an analysis of fundability and see what you find out.
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The idea of business loans for startups is kind of vague. I mean, a business that isn’t even operating yet can’t exactly get a business loan. The people who want to start the business can get a loan to get going, but it will technically be a personal loan, not a “business” loan in terms of a loan to the business directly.
The truth is, a startup isn’t just a business that hasn’t started yet. The term startup also includes any business that is still in its beginning stages. For example, they may be in their first round of financing, or still trying to get ramped up. Surprisingly, some businesses stay in the startup phase for up to 2 or 3 years.
Why does that matter? Because, if they have been operating for any amount of time, that changes the game. They could then potentially have business credit, which could help them get the funding they need on the merits of their business more so than their personal credit. These would be what we call business loans for startups. For many reasons, it’s harder for startups to get business loans.
Find out why so many companies use our proven methods to get business loans.
Not surprisingly, a lot of startups will not qualify for business loans from traditional lenders. Some will, but most will have to go the SBA route if they qualify at all. The SBA, or Small Business Administration, offers loan programs through partner lenders. More startups will qualify for these loans. The reason is, their programs are government backed. As a result, the lenders are able to be a little more relaxed when it comes to eligibility and approval. There is a lot of red tape involved, but it can be worth it if you qualify. Here are some examples of SBA loan programs that may work well for startups.
This is the Small Business Administration’s main loan program. It offers federally funded term loans up to $5 million. The funds can be used for expansion, purchasing equipment, working capital and more. Lenders include banks, credit unions, and other specialized institutions in partnership with the SBA who process these loans and disburse the funds.
The minimum credit score to qualify is 680. In addition, there is a down payment requirement of at least 10% for the purchase of a business, commercial real estate, or equipment. The minimum time in business is 2 years. In the case of startups, business experience equivalent to two years will suffice.
This is by far the most popular of the SBA loan programs, and the funds are available for a broad range of projects, from working capital to refinancing debt, and even buying a new business or real estate.
These loans are also available up to $5 million and can buy machinery, facilities, or land. They are generally used for expansion. Like 7 (a) loans, private sector lenders or nonprofits process and disburse these funds. They work well for commercial real estate purchases especially.
Terms for 504 Loans range from 10 to 20 years. Unfortunately, funding can take up to 90 days. They require a minimum credit score of 680, and collateral is the asset it is financing. There is also a down payment requirement of 10%, which can increase to 15% for a new business.
There is also 2 year in business requirement, or equivalent experience for management, if the business is in the startup phase.
Microloans are available in amounts up to $50,000. They work for starting a business, purchasing equipment, buying inventory, or for working capital. Community based nonprofits handle SBA microloan programs as intermediaries.
Interest rates on these loans are 7.75% to 8% above the lender’s cost to fund, and the terms go up to 6 years. Similar to other programs, they can take up to 90 days to fund. The minimum credit score is 640, and the collateral and down payment requirements vary by lender.
These loans max out at $350,000. They have a maximum interest rate of 11.50%. In addition, terms range from 5 to 25 years, and the SBA guarantee is less than it is with their other loan programs at 50%. To qualify, your credit score must be above 680. Another requirement is that you must have a debt to service ratio of 1.1 or higher. If the loan is greater than $25,000, collateral may be necessary. It depends on the lender.
The turnaround for express loans is much faster. The SBA takes up to 36 hours to give a decision. Also, necessary paperwork for application is less. As a result, express loans a great option for working capital, among other things, if you qualify.
Find out why so many companies use our proven methods to get business loans.
There are 4 distinct CAPline programs that differ mostly in the expenses you can use them to fund. Each carries a maximum amount of $5 million and an interest rate that ranges from 7% to 10%. Funding can take 45 to 90 days.
The four different programs include:
Credit score must be at least 680 to qualify, and there is no minimum time in business requirement unless you are getting a seasonal CAPline. That one carries a one year in business requirement.
The SBA offers these programs, and a lot more, for small businesses. Find out more about the SBA and what they offer here.
There are several things that lenders will look at, whether you are applying for an SBA loan or not. Some of it, like credit reports, you cannot control. What you can control is the presentation you make in the form of a business plan. It needs to look professional and be well written and complete. That may mean pulling in some outside help in the form of consultants, writers, or both. In general, a well put together, complete business plan includes the following.
This is a complete summary of the business idea.
The description goes into further detail than the summary, describing the business. What type of business is it? What product or service will it offer? This is where you work to get others excited about your business. Note that this is important even if your business is already operating. It will just be in the present rather than the future tense.
Layout your plan for getting started. Do you have a marketing plan, area in mind for location, or idea of how many employees you will start with? What is your ramp up plan? Again, already operating businesses will state the current operating strategy.
This actually includes two parts. All that market research you did goes here:
What need will your business fill, and for who? Are you a child care facility filling a need for affordable child care for working moms? Are you an eatery filling a need for a lunch spot for those working downtown? How will your business fill the need? All of that information goes in this section.
Is there already a business working to fill this need? Is there room for more? How do you plan to compete with them?
If you are not a new business, this will be a market analysis that supports your need for funding, or that shows your business is strong and growing.
How is all of this going to play out, from start to finish. What steps are you going to take? This is more detailed than your strategies section.
Who will own or does own the business and who will run or currently runs it from day to day. This could be as simple as stating that you are the sole owner and operator, or as complicated as laying out a complete partnership plan or board or directors’ format. It just depends on how your business works.
Find out why so many companies use our proven methods to get business loans.
This section includes current financials, projections, and a budget plan for the loan funds you are applying for. Lenders need to see that you know how to handle the funds you get, and that you have a plan for paying them back.
Regardless, any traditional lender is going to check personal credit history. They are also going to look for a higher credit score. If your personal credit score isn’t the best, consider looking at private lender options.
These are alternative lenders that have less strict eligibility requirements. They do have higher interest rates and less favorable terms than traditional loans however, so choose wisely.
If you have been in business for at least 6 months and have $120,000 annual revenue, you may qualify for a loan from BlueVine. Amazingly, the credit score for a line of credit can be as low as 600. Furthermore, if you want invoice factoring, you can get approval with a score as low as 530.
Kiva is a little different. For example, the interest rate is 0%, so even though you have to pay it back it is absolutely free money. They don’t even check your credit. However, there is one catch. You have to get at least 5 family members or friends to throw some money in the pot as well. In addition, you have to pitch in a $25 loan to another business on the platform.
If your personal credit is okay, Accion may be a good fit for small business startup loans bad credit. It is a microlender, a nonprofit, that offers installment loans to both startups and already existing businesses. The minimum credit score is 575. In some places they will go as low as 500. You don’t have to already be in business, but if you are not, you must have less than $500 in past due debt. In addition, your business needs to be home or incubator based.
Loans are from 6 to 60 months and interest rates range from 7% to 34%. A personal guarantee, and sometimes specific collateral, is necessary in most circumstances.
Credibly is also a good option for business loans for startups if you are already generating some revenue. They offer short term loans for both business expansion and working capital. You must be in business for at least 6 months to qualify, and they will approve loans to those with credit scores as low as 500.
Typically, a business is going to need to combine more than one type of funding to start and run a business. Of course, traditional investors are the funding source of choice. However, investors are not an option for everyone. Here are a couple of other options.
What is the newest innovation in small business funding? It is actually quite an arousing invention. Crowdfunding sites allow you to pitch your business to thousands of micro investors. Anyone who wants a piece of the action can buy a piece of the proverbial pie.
Investors pledge amounts on a broad spectrum depending on the campaign and the platform used. They may give $80, they may give $150, or they may give over $500.
Though not always required, most entrepreneurs offer rewards to investors for their generosity. Most often, this comes in the form of the product the business will be selling. Different levels of giving result in different rewards. For example, a $50 gift may get your product A, and a $100 gift will get you and upgraded version of product A. Find out more about crowdfunding here and here.
Angel investors come in all shapes and sizes. From investment firms to your mom, virtually anyone can swoop in and lift a company up financially. Some of the top angel investments have become companies that change the world. Learn more about this option here.
You need to start working on business fundability from day one, before you even think about business loans for startups. There are several reasons for this, but the most important one is that it fundability is starting long before you realize it. So much goes into it that you probably do not even realize. In fact, some of it is not even related to your business. Learn more about fundability, how it starts, and how to make it strong here.
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