First, we never charge a client anything in advance of their receiving credit approvals. We start by providing each client with a Funding Range Report. This report provides a detailed analysis of the client’s personal credit reports and scores. It shows if the client is ready to move to funding now and how much funding can be expected if that takes place.
Second, it shows the client exactly where they need to improve to optimize their funding amount opportunity. Once we receive the client’s personal credit reports the Funding Range Report is typically turned around within one business day.
We have done extensive research into the underwriting application and approval guidelines of business lending banks and credit unions nationwide. This research allows us to place funding transactions with the best matched lenders for the maximum possible results.
Of course a client could just go apply with their bank, but in doing so they have no idea what that lender’s approval guidelines are, which credit agencies will be pulled, what the approval limits are based upon, if a secondary line can be applied for with that same lender, how long they must wait before applying for secondary credit lines, and so on.
There are simply too many things to know about the hundreds of available lenders for a client to possibly be able to successfully gain maximum approvals on their own. The lending approval guidelines change month in and month out from lender to lender, meaning applying on their own will cause much more damage than any success.
Selecting the best lenders based on the client’s qualification and location is a major part of the success of the funding process. The selection process has three parts to it.
It is vital that Credit Utilization is maintained at or below the 45% debt to limit ratio during the entire funding process. The same is true of any new credit lines obtained, but only during the funding process.
Once the funding process is complete, the credit lines of both existing and new accounts can be utilized to their fullest. The credit lines can also be liquidated and consolidated into a single larger credit line, if so desired by the client.
All clients are offered placement placed into the Business Finance and Credit Building System. This system guides clients step-by-step to building strong business credit scores with all three business credit reporting agencies that are separate from them personally.