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Business trade credit is a line of credit extended by a merchant to a business. Often the terms are Net, which means there’s a set time to pay, and you can’t carry the balance, like you can with what’s called revolving credit. One common term is Net 30 – which means you have 30 days in which to pay.
A business gets goods or services and agrees to pay for them at a later date. Trade lines are often established between a business and a vendor. This is as opposed to a line of credit offered by a bank. Trade lines can help businesses build credit since the loans are frequent and the turnaround quick. They can also help rapidly build positive credit experiences.
When you use tradelines that report, then you’ll have an established credit profile. You’ll get a business credit score. And with an established business credit profile and score you can begin to get credit for numerous purposes, and from all sorts of places.
To kick off your business credit profile properly, get approval for vendor accounts that report to the business credit reporting agencies. When that’s done, you can then use the credit. Then pay back what you used. And then the account is on report to Dun & Bradstreet, Experian, or Equifax.
Not every vendor can help in the same way true starter credit can. These are merchants that grant approval with very little effort. You also need them to be reporting to one or more of the big three CRAs: Dun & Bradstreet, Equifax, and Experian. As you get starter credit, you can also start to get credit from retailers. Since over 90% of all vendors don’t report, it helps to work with a company that knows the ins and outs of which vendors report, and how to work with them.
Uline is a true starter vendor. They offer shipping, packing, and industrial supplies and more. They report to D&B and Experian. Over 99% of their products ship same day, with no back orders. They will ask for your business bank information. Your company address must be uniform everywhere.
You need:
Here’s how to apply with them. You will need to create an account first. Then place an order and select Net 30 terms. Their credit dept. will review the account. Your application may be approved for net 30 at time of order. Upon final review, their credit department may change to a few prepaid orders before a Net 30 is granted.
Marathon Petroleum Company provides transportation fuels, asphalt, and specialty products throughout the United States. Their product line supports commercial, industrial, and retail operations. This card reports to Dun & Bradstreet and Experian. Before applying for multiple accounts with WEX Fleet cards, make sure to have enough time in between applying so they don’t red-flag your account for fraud.
To qualify, you need:
Your SSN is necessary for informational purposes. If concerned they will pull your personal credit talk to their credit department before applying. You can give a $500 deposit instead of using a personal guarantee, if in business less than a year. Apply online or over the phone. Terms are Net 15.
Grainger Industrial Supply sells hardware, power tools, pumps and more. They also do fleet maintenance. And they report to Dun & Bradstreet. Apply online or over the phone.
To qualify, you need the following:
If your business does not have established credit, they will require additional documents. These are items like accounts payable, income statement, balance sheets, and the like.
For even more starter vendors, check out our starter vendor research – and for the most up-to-date information, always be sure to go directly to vendors’ websites.
Since you have heard about how business tradelines can help you build business credit, you may think, I’ll just buy a few things and then I’ll be done, and then I can move onto what I really want to buy from where I really want to shop. You may feel trade credit is just a steppingstone to the good stuff. But here’s a tip, vendor credit is a great end unto itself.
Discover our business credit and finance guide, jam-packed with new ways to finance your business without emptying your wallet
Don’t just throw stuff in a cart willy-nilly! There’s a lot to buy from starter vendors. It’s things you will need now, and later in the life of your business. Starter vendors sell more than boxes.
For example, Grainger sells computer supplies like mice, screen filters, and cables. You can get your next laptop carrying bag or flash drives from them. Get your next desk chair from Uline (ergonomics are really important – your back will thank you). You can even get disinfecting wipes from them – remember when those were an incredibly HOT commodity in 2020?
At Marathon, you can fill up with your business credit card and earn points. Use your points for everything from 7 cents off per gallon, to Southwest Airlines travel points. And buy gasoline at hundreds of stations in much of the continental US and near parts of our borders with Mexico and Canada. A fill-up in Cadillac, Michigan could get you Target or Petco gift cards – and a cool 5 cents off per gallon.
But you should be aware that sometimes it’s not all gift cards and a good PAYDEX score. There’s a dark side when it comes to tradelines. You may have seen ads where you can buy them. Or a fellow businessperson may have suggested buying tradelines to you as a shortcut. That person is not doing you any favors.
There Are No Shortcuts in Life or Business. This is very true about building business credit. Yet some people try for a shortcut all the time. The top three areas where they try to game the system are:
Getting caught doing any of these will hobble your funding efforts. Let’s touch on a terrible idea – buying trade lines.
Many companies online promise to sell ‘seasoned’ trade lines. A business with poor or little credit, can, for several hundred or several thousand dollars, be piggybacked onto the account of someone with established excellent credit. New business owners seem more creditworthy than they really are. Does this sound unethical? Of course it does – because it is.
‘Piggybacking’ trade lines is a practice involving seasoned trade lines. A creditworthy borrower’s accounts are used to improve the credit of an unrelated third party. A creditworthy borrower adds the third party as an authorized user of his lines of credit. But he or she does not actually provide the third party with materials (credit cards or account numbers, etc.) to let the third party make charges against that account. Hence, the authorized user never actually uses the credit.
The benefit to the third party is an improved credit rating. It ‘shows’ they are already approved for higher limit revolving accounts. In theory, showing you already have credit is supposed to make you more creditworthy for higher limit accounts. Many companies claim to be able to secure $100,000 – 250,000 credit lines once these accounts are reporting. This is dishonest.
A company offering the piggybacking service maintains a network of creditworthy ‘card holders’ or ‘vendors’. They will add strangers to their accounts as authorized users for a fee. A third party, looking to increase their credit score, contacts the company. The company then offers a selected trade line to the client and charges the client a fee per account. The FBI has found that the trade line company can be a fake, and the primary card holder can be a stolen identity in these kinds of scams.
The client pays anywhere from $500 to $2,000 per trade line. The company submits the order to the card holder. Once the trade line reports, the company pays the card holder their fee. This is runs from $50 to $250 per authorized user. The company retains the remaining funds as its revenue.
Discover our business credit and finance guide, jam-packed with new ways to finance your business without emptying your wallet
The Federal Reserve says:
“The potential distortions in credit scores that piggybacking credit may introduce suggest that a reconsideration of existing regulations, industry practices, or both may be warranted to preserve the predictiveness of credit scoring models.”
Credit Where None is Due? Authorized User Account Status and “Piggybacking Credit”, Robert B. Avery, Kenneth P. Brevoort, Glenn B. Canner (Federal Reserve Board, March 5, 2010)
The FBI says:
When commenting on a 2013 bust of a fraud ring, “A second kind of tradeline is the “authorized user” tradeline, where a credit card holder adds another, so-called “authorized user,” to a credit card account. This raises the credit score of the authorized user, who inherits some of the primary user’s credit history.
Some defendants created and sold fake lines of credit for false identities made up by other defendants. These fraudulent primary tradelines were then used to increase the credit limits on fraud cards, so that the defendants could reap even larger profits. Defendants used the authorized user tradelines to create new identities.”
The leader of the scam ring was sentenced to 80 months (that’s over 6 1/2 years!) in prison in 2016.
FICO says:
“A shadier version of piggybacking has been promoted by some CROs who offer to “rent” to their credit-challenged customers the trade lines of established accountholders, in an effort to boost their customers’ credit profiles and scores.”
Equifax says:
“ authorized user abuse occurs when low-risk primary card owners “rent” their tradelines with extensive credit histories, high credit limits and solid repayment profiles to others – most times, knowingly, to fraudsters.”
Experian says:
“Buying tradelines may be viewed as deceptive by lenders and credit reporting agencies, and could even put you in danger of committing bank fraud.
…
If you pay money to improve your credit scores without doing any of the work or even getting a card to use, you could be falsely representing your creditworthiness to potential lenders.”
Lenders and CRAs know all the unethical methods out there. They know what to look for, and they will always be looking. When they see a new authorized user on a card, they will dig deeper.
Discover our business credit and finance guide, jam-packed with new ways to finance your business without emptying your wallet.
Sooner or later, D&B in particular will determine you bought tradelines. If a tradeline sales company performs an inquiry into your credit report, then D&B is tipped off. And any time you buy a tradeline, the seller will check your credit. Because they want to be sure they get paid.
Shutting down tradeline(s) is just the start. D&B will red flag your entire profile. They will flag legitimate trades alongside the illegitimate ones. You will lose whatever time you think you gained. Plus, you’re out the cost of the tradelines.
When a company is known to be a tradeline seller, then that company will be flagged. Any new inquiries by that flagged tradeline seller harm buyers. And so will older tradeline sales. There is no Statute of Limitations on this. That’s because it’s not through the courts system. If you bought a tradeline 50 years ago, D&B could still find out.
Consumer trades as an authorized user are considered legitimate. A person with poor credit can use this strategy legally. Hence if you know someone with great credit. Ask if you can become an authorized user on their card. You never need to use the card, yet it can still help to raise your personal credit scores. But never do this to jack up your BUSINESS credit scores.
Working with starter vendors isn’t just a means of building business credit. It’s also a great way to get products and supplies that your business truly needs. It’s not a waste of time or money. All you need to do is search on any vendor’s website to find what they have to offer.
Business tradelines are perfectly legitimate IF you do not pay for them and build them properly and naturally. Buying business tradelines will sink your business credit building effort. It’s dishonest and potentially part of a larger theft ring, SO DON’T DO IT!
The post Get Business Trade Credit the Right Way appeared first on Credit Suite.
Are you one of the millions of black business owners in the US? Or are you starting a business? Money is always going to be an issue. What if you could get what is essentially free money? That’s what grants are (for the most part). Yes, you can get grants for small black owned businesses.
How do you find the best options for you? How do you know if you need to be looking for grants or business loans? We recommend that you explore every option. This is because it will probably take a combination of funding options to fully fund your business.
There are grants for black business owners, but not necessarily for them exclusively. Still, there are other funding choices out there. Loans, crowdfunding, and even angel investors are all viable options. More on those later.
The government and private organizations want to GIVE you money! Though highly competitive and rarely enough to fund a business on their own, grants are a great way to supplement other business funding. And they are still worth the effort to apply. There really isn’t anything to lose except time – it’s free money. Here are a few you can start with.
The Minority Business Development Agency (MBDA) is operated by the US Department of Commerce. It is dedicated to helping minority-owned businesses access the resources they need to grow and succeed. The MBDA is for both men and women. Grant competitions are regularly changing.
Visit the MBDA’s website for information on all current opportunities. Currently, the MBDA helps its members apply for grants via Grants.gov. This involves help with how to apply for government grants. See mbda.gov/grants.
The MBDA oversees the Enterprising Women of Color (EWOC) Initiative. The initiative works to focus on the fast-expanding minority women entrepreneur population as a revenue generators for families, communities, and the nation. Minority women are the fastest growing population of entrepreneurs. While many women are making tremendous strides in the business world, they still face obstacles as entrepreneurs.
MBDA serves as an advocate for women’s economic empowerment, by supporting efforts to advance women’s equality and promote women economic advancement programming. The vision of EWOC is to ensure women worldwide to reach their economic potential. See mbda.gov.
The Verizon Small Business Recovery Fund is new. It was established in response to the COVID-19 pandemic. The fund offers $10,000 to successful applicants. The fund is specifically focused on providing grants to business owners of color, women-owned businesses, and other underrepresented entrepreneurs. See lisc.org/covid-19/small-business-assistance/small-business-relief-grants/verizon-small-business-recovery-fund
Also known as NBMBAA, the Scale-Up Pitch Challenge has cash prizes ranging from $1,000 to $50,000. The association states its purpose is to help newer businesses that have an African American ownership. This is a pitch competition for startup businesses. See nbmbaa.org/scale-up-pitch-challenge.
Demolish your funding problems with 27 killer ways to get cash for your business.
Black businesswomen have even more options open to them. The Amber Grant awards one prize of $10,000 per month to a woman-owned business. One of the recipients also receives an additional $25,000 grant at the end of the year. Applicants only need to tell their story and turn it in with a $15 application fee. See ambergrantsforwomen.com/get-an-amber-grant/apply-now
Black businesswomen can also try for a Cartier award. This award is for women and there’s no specification that a woman be a member of a minority group. The Cartier Women’s Initiative Award has a regional category award and a science and technology award. The regional award is $100,000 for first place, with $30,000 for second and third place.
The award goes to three women from each of seven international regions. This award is a grant to 21 female business owners from around the world each year. Women business owners who are just getting started may qualify. Look over the complete application for more information. See cartierwomensinitiative.com/about-us
The Cartier Science and Technology Pioneer award is new as of 2021. With this award, three more women impact entrepreneurs at the forefront of scientific and technological innovation will be recognized for a new thematic award. Open to women entrepreneurs from any country and sector, this award will highlight disruptive solutions built around unique, protected, or hard-to-reproduce technological or scientific advances.
The laureate will be awarded a $100,000 grant. Each of the two remaining finalists will receive a $30,000 grant.
Cartier also offers a fellowship program. The fellowship is an educational program geared towards the 24 fellows selected each year. This program aims to equip the fellows with the necessary skills to grow their business. Also, it helps them to build their leadership capacity by drawing upon the experience and expertise of an array of academics, practitioners, industry experts, and entrepreneurs.
The fellowship isn’t exactly a grant. But while it’s not a monetary award, the mentoring and networking opportunities could be worthwhile to apply for. See cartierwomensinitiative.com/fellowship-programme.
Demolish your funding problems with 27 killer ways to get cash for your business.
Are you also part Native American? Then check out this grant.
The NABDI Grant is funded by the US Department of the Interior’s Bureau of Indian Affairs. It provides funding to business owners of Native American or Alaskan Native descent. In 2019, the program provided more than $727,000 to 21 indigenous tribes, to support economic feasibility studies for specific economic development projects or business startups.
For 2020, NABDI planned to award 20-25 grants. There is no minimum or maximum amount of funding that can be requested, but most awards range in value from $25,000 to $75,000. They only fund projects for one year at a time, which is when they expect projects to be completed. To apply for a NABDI grant for your proposed economic development feasibility study, go to bia.gov/service/grants/tedc/apply-nabdi-grant.
For black business owners who also have Native American heritage, it doesn’t stop there. There is more available via the Bureau of Indian Affairs. Businesses owned by Native Americans can get financing from the federal government through the Indian Affairs branch. An individual can fill out an application for up to $500,000, but business entities and tribal enterprises may apply for more.
Potential borrowers can apply with any lending institution, they just have to use the application for Indian Affairs. There are additional requirements if you use the funds for construction, renovation, or refinancing. In general, you must supply a list of collateral, a credit report, and an analysis of business operations. See bia.gov/as-ia/ieed/loan-guaranty-insurance-and-interest-subsidy-program.
If your business is in the arts, and you’re also of South Asian descent, then check out this fund. The fund is run by the India Center Foundation. It supports US-based South Asian arts workers impacted by the COVID-19 pandemic.
The fund will disburse grants up to $2,000, depending on financial need to US-based arts workers of South Asian descent. This includes those in the performing arts, film, visual arts, and literature with heritage from Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. Initial funding for the program is $20,000, but the India Center Foundation is soliciting donations to expand the grant program.
To be eligible, applicants must be of South Asian descent. Also, they must work in the arts and demonstrate loss of income due to COVID-19. Also, applicants must be:
You can put grant funding toward any artistic project you can develop, create, and present within four to six weeks of getting funding. See theindiacenter.us/artsfund.
Demolish your funding problems with 27 killer ways to get cash for your business.
Grants.gov is a running list of more than 1,000 available federal government grants. The website compiles grants from over two dozen government agencies. These include the SBA, USDA, and the US Department of Commerce. To find a grant right for your business, use the Search Grants tool on the website. You can sort through the list of grants by keyword or opportunity number.
Once you have located the grant you wish to apply for, click the opportunity number for more detail. There, you will find more information about the specific grant as well as any associated documentation you may need. To apply for a grant through Grants.gov, you must first register. Then, you can download an application package for the grant you want to get. Be ready for a lengthy process. See grants.gov.
Angel investors are informal investors. Essentially, you are selling a part of your business to them. They tend to not want a huge percentage of your business. Also, they won’t pass by more conventional businesses, like with crowdfunding and venture capital. Hence they can be another supplement or replacement for grants.
If you would rather not rely on grants so much to fund your business, crowdfunding is a viable option. Keep in mind, not everyone with a campaign on a crowdfunding site is successful. More unique products and services tend to do better. Kickstarter and Indiegogo are two of the most popular crowdfunding platforms to use. Some platforms may have higher success rates than others.
If grants aren’t an option, loans might work for you.
If you’re an immigrant, then try the Business Center for New Americans. They offer a pilot program for microloans up to $75,000. They work with immigrants, refugees, women, and other minority entrepreneurs. The goal is to help minority business owners who have not been able to get traditional financing. Terms are 3% interest. Loan repayment term goes up to a year. See accompanycapital.org.
There are several options for grants for black owned businesses. Black entrepreneurs should apply for whichever grants they feel they are most likely to get. Other options for funding include crowdfunding, angel investors, and loans. Credit Suite can help you get the funding you need.
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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.
Business crowdfunding is a legitimate business funding option. Not only can it work well for startups, but it is an option for growth and expansion projects as well. You Need Other Funding Options for When Business Crowdfunding Doesn’t Cut It However, crowdfunding isn’t a sure thing by a long shot. In fact, it is pretty … Continue reading All You Need to Know About Business Crowdfunding
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