Secure Money Before You Need It

In lending , most applications are denied when the applicant is in need of money the most.

Lenders lend based on risk. And the better a business is doing, the lower the risk it is from a lender's prospective.

Still most business owners don't look for money until they actively, and sometimes desperately need it.

Maybe it is an AC unit going out or freezer breaking, but something usually happens that costs much more than what is on hand.

This is not the time that most business owners want to be looking for money. Instead, even major problems can be fixed without even a little hiccup if money is sitting and waiting.  And, what if you have challenged personal credit? This is one of many reasons business owners should investigate and obtain business credit and funding before they really need it.

This credit can be grown to even greater amounts over time, and can be secured without a personal guarantee.

Now when a business owner runs into a BIG problem, they have the financial solution available.

Look into business credit and funding today for your business. Major problems can quickly occur, so ensure you are financially prepared.

Expert Credit Consultants, LLC specializes in establishing business credit and funding using our exclusive Business Credit and Financing Suite as well as consumer credit restoration and optimization. www.ExpertCreditConsultants.com.

 

Bank Credit and Bank Ratings

Bank credit is the total amount of borrowing capacity a business can obtain from the banking system. Banks have their own internal way of scoring and rating businesses credit worthiness. They do this through a system called bank ratings, which rates the credit worthiness of a business from the bank’s perspective.

A business can secure more business credit quickly as long as it has a minimum of one bank reference and an average daily account balance of at least $10,000 for the past three months. What lenders REALLY want to see is that a business has this $10,000 average balance. When a business has this, it yields a “Bank Rating” of Low-5, meaning the business has an average-daily-balance of $5,000 to $30,000.

A business that has a balance of $7,000 to $9,999 will net the business a lower rating such as a High-4, which will make it harder for a business to get approved for bank financing. Here is the actual bank rating scale, so you can see where you business might rank:

    High 5, account balance of $70,000-99,999
    Mid 5, account balance of $40,000-69,999
    Low 5, balance of $10,000-39,000
    High 4, 7,000-9,999
    Mid 4, 4,000-6,999
    Low 4, 1,000-3,999

There are other factors outside of average bank account balances that affect this rating. A business will be scored higher if it has the average balance of $10,000 for 3 months, so it’s crucial that the money be in the account, and stay in the account for 3 months to maximize the bank rating.

Overdrawing the account and obtaining non-sufficient-funds charges is one big way any business can severely hurt its bank rating. For the best rating, a business should ensure their bank statements reflect a positive cash flow.  Positive free cash flow is the amount of revenue left over after the company has paid all its expenses.

When the account shows a positive cash flow it indicates that the business is generating more revenue than is used to run the company, increasing the bank rating. The bank rating is also improved when the business has a consistent amount of regular deposits.

Other factors can also affect the rating including age of the bank account, other bank products that the business uses, and how many investment and savings accounts the business has.Having a good bank rating is essential with securing bank financing.

To maximize your bank rating ensure you keep your bank balance average over 3 months as high as you can, preferably over $10,000 and that your account doesn’t go negative.

Take advantage of and use other services your bank offers such as CDs, savings accounts, and other investment accounts  and open your bank account when your corporation starts, and leave it open as this longevity will help your bank rating.

Make consistent deposits on a regular basis into your business bank account and ensure each month you have good cash flow through your account by regularly putting into the account more money than you take out. Taking these steps will ensure you have an exceptional bank rating and can get approved for the greatest amount of bank financing. 

Expert Credit Consultants, LLC specializes in establishing business credit and funding using our exclusive Business Credit and Financing Suite as well as consumer credit restoration and optimization. www.ExpertCreditConsultants.com.

Your business IS your credit

Most business owners have very high expectations for their businesses. But with stringent banking standards, capital is hard to come by to help them meet those expectations.

As a result many business owners put their personal credit, funds, and guarantee on the line to try to finance their vision and dream.

But, as a Business Owner, you CAN get all the money and capital you need without your personal guarantee, personal funds, or your personal credit.

Let your business finance your business.

We can assist you with building your business credit profile. Over the next few months you could have access to real usable credit in your business’ name.

This revolving credit can quickly grow to $50,000 or higher within the first 6 months. Many of our clients are then approved for between $100,000- $250,000 in real usable credit within a couple years.

This type of credit is known as business credit or trade credit and requires no personal guarantee. There is also no personal credit check whatsoever.

So even if you have horrible credit, you can still qualify for $50,000 or more in business credit. This is not, however, free money. To qualify for loans initially, you will either need a strong business OR excellent personal credit. If you don't initially qualify for a cash loan, you can still get vendor credit. Each month, as you use and build your business credit profile, you will qualify for more and more funding. The key here is to start building your business credit BEFORE you need any substantial funding. With a strong business credit profile established with all three business credit agencies, you will have access to funding when you need it!

If you don’t currently own a business, we can help you get one started.

If you do currently own a business you might qualify for even more credit depending on how many months you have been open. Our Finance Advisors will search for business funding using your business strengths, whereas, banks specifically look for weaknesses to turn down your application.

You have just been let in on the best kept secrets in business. You CAN finance your business dreams and vision using only your business to qualify, not your personal credit or guarantee.

Call us today to be on your way to $50,000 in business credit approvals – guaranteed.

Expert Credit Consultants, LLC specializes in establishing business credit and funding using our exclusive Business Credit and Finance Suite. We also do consumer credit restoration and optimization. www.ExpertCreditConsultants.com.