How to Obtain a Small Business Bank Loan

Getting your first Business Bank Loan can seem like an impossible task. The majority of the small business bank loan applications get declined because banks won't lend to just anybody ... or will they?

Having a Business Bank Loan can provide a powerful boost to building business credit fast. This bank loan must be set up correctly and report to the appropriate business credit agencies.

So how do we accomplish this? Under this Small Business Bank Loan Program, you will be securing a business loan with a certificate of deposit (CD) at the bank that is extending the business bank loan. You'll make a deposit into a CD account at one of our preferred lending banks (or one of your choice if you prefer if they provide this type of loan). Then, you receive a business loan for 100% of the value of the CD. The purpose of this loan will be to build your business credit scores.

This process works very well and works every time as long as your personal credit is at least ok. The bank is not basing your business bank loan on your personal credit, but if your FICO scores are in the low 500 range they may not do this deal for you.

So where does your deposit come from? We are not talking about a very large amount of money. You can start with as little as $5,000. There are many creative ways to acquire the money you need for the business bank CD deposit: family, friends, savings, garage sales, or from any of our other creative funding programs. Another option is to build a 'savings account' while building business credit.

The Features of a Secured Small Business Bank Loan

- It will appear on your business credit report just like any other small business bank loan.
- There will be no note in your file, or on your business credit reports, that show it as "secured".
- It will make your business credit report stand out to other lenders and creditors who obviously know how difficult it is to get a business bank loan

A Helpful Suggestion

If you have to borrow the money you need for this step from friends or family, you can assure them that they will get their money back. Here is how that works:

-You borrow the money for the CD to secure the business bank loan.
-The bank then makes you a loan dollar for dollar.
-Deposit the money from the loan or line of credit into a separate account and use it exclusively to re-pay itself.
-After the final payment, you return their money with interest. Remember their money is in a CD earning interest.

This technique gives you a great start towards building excellent business credit scores. We work with several lenders that offer this program.

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.

 

Equipment Financing

You can easily secure the equipment you need for your business. One of the best and smartest ways to obtain the equipment you need is by using Equipment Financing. You can deduct the interest you pay on the lease and you won’t need a large down payment to be approved. This is one of the reasons over 80% of U.S. businesses use equipment financing to acquire equipment for their businesses.

Using Equipment Financing you can improve your business cash flow and increase capital. You can keep your normal cash flow, leave your money in the bank, avoid major out-of-pocket expenses incurred by purchasing the equipment up-front, and benefit from multiple tax advantages.

Equipment Leasing is one of the most common types of equipment financing available today. When leasing equipment you will find most leasing options offer you fixed-rate financing. This means your interest rate and payments will stay the same from month-to-month during the term of your lease.

Whether you need office equipment or large commercial equipment used for manufacturing, Equipment Financing is a perfect option for you and your business. Equipment financing can also be used if you are starting a new business which needs equipment to operate.

There is typically no down payment per se required on equipment leasing loans. The lender will collect 1-2 of your monthly payments upon approval. This amount of money required is usually equal to 3-7% of the total equipment cost. You will have low monthly payments available. And your payments can be tailored to fit your company’s individual needs. You can also include taxes and other charges such as installation charges into your new equipment lease.

Equipment loans are perfect for any business owner looking to purchase equipment. The most aggressive equipment loan and lease

lenders are available for you through our business finance suite.

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.

Business Credit Involves More Than Only Dun and Bradstreet

You have most definitely heard of Equifax, Experian, TransUnion, and the FICO score before as they are household names.

A few business owners have even heard of Dun and Bradstreet, a DUNS number and a Paydex score. But most have not heard of an Intelliscore from Experian's Business Division or a Small Business Credit Risk Score from Equifax's Business credit reporting division.

Entrepreneur.com reported that less than 10% of business owners have any knowledge whatsoever of business credit.

Have you been personally affected by the changes in economy over the last few years? Many creditors have lowered credit limits while others deny applications that once would be easily approved. This means less money for your business, making it tougher and sometimes seemingly impossible to do business.

Have you tapped out your personal credit on financing your business? Well, stop and listen up. We will find you $50,000 or more in business credit. Business credit is still vastly available because 90% of business owners know nothing about it. Within a few months you will qualify for thousands in real useable credit. Within 6-12 months you could have access to over $50,000 in revolving credit with major retailers. In 1-2 years you can then continue on to qualify for $100,000-$250,000 based on how you utilize your newly acquired credit.

Business Credit and Financing IS available and waiting. And this is credit you can use to build the company of your dreams without the personal liability.

Call us today to get started and be on your way to $50,000 in credit approvals with no personal guarantee and regardless of personal credit history.

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.

The 4 Cs of lending

If you are looking for money for your business then you will be happy to know you only need one “C” to qualify with us. With a bank and almost all Loan Brokers, you will need all four.

The first C is Cash Flow.

When you have an existing business with good cash flow you can qualify for business funding. If you do have verifiable cash flow, this substantially increases your chances of being approved for funding. There are many funding programs you might qualify for, one being Business Revenue Lending.

Second is Collateral.

If you don’t have cash flow, your business still might have Collateral. Collateral for your business is really your business assets. Many things can be used as collateral including equipment, purchase orders, credit card sales, even account receivables. Having Collateral greatly increases your chances of being approved.

Third is Business Credit.

If you don’t have cash flow or collateral, you still can qualify for business funding. Lenders also look at your business credit to qualify you. Business Credit is our third C. Lenders will lend you money with no personal guarantee based on your business credit profile and score. If you have a good business credit profile you can use that as security to obtain funding. If you don’t have business credit built now, call us so we can help you quickly build an excellent business credit score and profile.

Fourth is Personal Credit.

Maybe you are just starting a new business, and you have no business credit, cash flow, or collateral. In this case you can still qualify for funding. But lenders will use your personal credit to qualify you. Personal Credit is the fourth C that lenders will look at to approve you for funding. You can secure credit lines through us, up to $250,000. These types of unsecured credit lines do not look at revenue or financials. Your good personal credit is all that is used to qualify you for funding. If you don’t have good credit, we can also help you improve your personal credit profile to secure funding.

All you need is 1 of the 4 “C”s to qualify with us. And we can help you build business credit and improve your personal credit so you will qualify for the most business financing possible.

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.