Don’t Defeat Your Own Chances for Funding
Of all the funding tips and tricks we could share, this one could be the most important: Protect Your Personal Credit.
Even though we help you gain true business credit, many of our lending programs still base part of their approval on your personal credit. This means you must be even more vigilant about your credit throughout the funding process.
Here are 2 things to avoid in order to protect your credit throughout the funding process:
1. Avoid large credit purchases which strain your existing credit lines. Lenders look at many factors, but a major factor is whether or not you have more than enough ability to repay the loan. Don’t use your existing credit cards or credit accounts to make purchases that negatively impact your balance to limit ratio.
2. Avoid Multiple Credit Inquiries which ding your credit score. We see business owners ruin their chance of funding by “shopping around” and letting many companies run their credit.
You have the power to protect your own credit! It can keep your business fundable or even earn you thousands more in funding!
Our funding process will pre-qualify you for funding while avoiding unnecessary credit checks. We identify the best funding programs available to you and walk you through the entire process.
There’s no better time to begin preparing for business funding than now. The more prepared you are, the better funding you’ll gain.