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A Comprehensive Guide to Business Credit Repair – My Business Credit

This article provides a comprehensive guide on business credit repair, likening the process to nurturing a garden. Key strategies include selecting vendors that report to credit bureaus, disputing inaccuracies, utilizing business credit cards effectively, maintaining low credit utilization, and negotiating the removal of negative marks. Additional tactics cover establishing a solid business foundation, registering the business properly, obtaining a DUNS number, using business loans wisely, and regularly monitoring the business credit score. The guide emphasizes patience and smart strategies in building a robust financial
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Navigating the Lending Maze: Understanding the Importance of State and Local Licenses

In this article, we explored why lenders require businesses to have state and local licenses when applying for loans. This requirement is rooted in building trust, managing risk, ensuring compliance, and fostering long-term partnerships. As a business owner, understanding and adhering to these requirements is not just about securing a loan; it's about laying a strong foundation for the future success of your business.
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Understanding Lender Requirements: The Importance of 2 Years of Tax Returns & Financial Statements

In this article, we explored the reasons lenders require two years of personal and business tax returns during the loan underwriting process. These documents help lenders assess the financial health, consistency, and reliability of a business, while also providing insights into the personal financial responsibility of the business owner. By understanding the significance of these requirements and maintaining detailed financial records, business owners can enhance their credibility and improve their chances of securing a loan.
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The $10,000 Question: Deciphering Lenders’ Monthly Revenue Requirements

Uncover the key reasons why lenders set a $10,000 monthly revenue threshold for business loans in 'The $10,000 Question.' This engaging article demystifies lenders' rationale, highlighting the significance of this revenue benchmark as an indicator of business viability, stability, cash flow competence, market acceptance, and debt servicing ability. Packed with practical tips for businesses not yet at this revenue level, the piece offers insights into growth strategies, financial management, and alternative funding options. Ideal for entrepreneurs and business owners, this read provides valuable guidance on achieving and surpassing this crucial financial milestone.
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Bankruptcy Blues: Understanding Lenders’ Five-Year Rule

Explore the crucial reasons why lenders require a clear five-year bankruptcy history in 'Bankruptcy Blues: Understanding Lenders' Five-Year Rule.' This insightful article delves into the significance of the five-year benchmark for businesses seeking loans, highlighting the importance of financial stability and credibility post-bankruptcy. Discover expert strategies for navigating the post-bankruptcy landscape, including rebuilding credit, maintaining transparency, and restructuring operations. Ideal for entrepreneurs and business owners, this piece offers practical advice for overcoming past financial hurdles and securing a promising future in the world of business finance.
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How to Use Debt to Build Wealth

Often, when you are trying to get growth financing for your business, you'll be asked for your personal credit score – which needs to be 680 or higher for most qualifications. But what if your score is lower? What can you do to quickly build up your personal credit so that you can grow your business? Adding a credit tradeline to your report might be the short-term solution you need. Credit tradelines are an unconventional, but relatively common method of building up your personal credit. Whether you already have good credit and want to improve it by adding another tradeline, or you just need a boost before applying for a business loan or other large purchase, credit tradelines can get the job done, and this article will show you how.
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Credit Card Tradeline 101: What You Need To Know

Often, when you are trying to get growth financing for your business, you'll be asked for your personal credit score – which needs to be 680 or higher for most qualifications. But what if your score is lower? What can you do to quickly build up your personal credit so that you can grow your business? Adding a credit tradeline to your report might be the short-term solution you need. Credit tradelines are an unconventional, but relatively common method of building up your personal credit. Whether you already have good credit and want to improve it by adding another tradeline, or you just need a boost before applying for a business loan or other large purchase, credit tradelines can get the job done, and this article will show you how.
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What Is A Business Line Of Credit, And Why Do You Need It?

A business line of credit, also known as a credit account or revolving credit, is an arrangement in which a company borrows funds on a short-term basis up to the credit limit. The company pays interest only on what it actually borrows and can request more funds if needed. It's often used by companies that need cash to operate but do not require any long-term financing. Learn more about business lines of credits and how you can use them for your business!
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yOUR LENDER CHEAT SHEET FOR GETTING APPROVED

Avoid getting denied for funding! Follow this 23-point checklist to get your business pre-qualified with no personal guarantee!