Course Content
Your Loan Packaging Course
Learn to craft a persuasive loan package to secure financing. This concise course covers essential financial documents, integrating your business plan, understanding credit scores, and presenting your business effectively to meet lender expectations. Gain insights into legal compliance, submission tips, and strategies for engaging with lenders, all aimed at showcasing your business's growth potential.
The Business Entity Course
Navigate the complexities of choosing the right business structure with "The Business Entity Course." This focused course demystifies the process of selecting an entity type—such as LLC, corporation, or partnership—that aligns with your business goals, legal protections, and tax implications. Learn about the advantages and disadvantages of each entity type, the impact on your personal liability, and how your choice affects funding opportunities. This course provides the foundational knowledge needed to make an informed decision on structuring your business for success.
Personal Credit Enhancement Course 101
Boost your financial credibility with the "Personal Credit Enhancement Course 101." This essential course offers strategies to improve your personal credit score, a critical factor in securing business financing. Dive into understanding credit reports, identifying and rectifying errors, and employing tactics to enhance creditworthiness. Learn how personal credit impacts business funding opportunities and master practical steps to elevate your score for better loan terms and access to capital. This course is your guide to building a stronger financial foundation for both personal and business growth.
Business Credit 101
Unlock the potential of your business with "Business Credit 101," a course designed to guide entrepreneurs through the intricacies of establishing and managing business credit. Discover how to create a robust business credit profile that lenders trust, understand the key differences between personal and business credit, and learn strategies for building creditworthiness. This course covers the essentials of business credit reporting agencies, how to secure credit lines, and the impact of credit on your business's funding capabilities. Equip yourself with the knowledge to leverage business credit as a powerful tool for growth and financial stability.
A Bankable Business Plan Course
Transform your vision into a viable financial strategy with "A Bankable Business Plan Course." This comprehensive course guides you through crafting a business plan that not only articulates your business model and market potential but also appeals to investors and lenders. Learn to effectively communicate your business's value proposition, operational plan, and financial projections. Discover the components that make a business plan compelling, including market analysis, competitive edge, and financial forecasts. By the end of this course, you'll have a polished, professional business plan ready to open doors to funding and growth opportunities.
Lender Strategies and Tips Course
Navigate the lending landscape with confidence through the "Lender Strategies and Tips Course." This insightful course equips you with the knowledge to approach lenders effectively, understand their criteria, and improve your chances of loan approval. Delve into the nuances of different financing options, learn how to present your business in the best light, and uncover the secrets to successful loan negotiations. From building strong relationships with banks to preparing for common lender concerns, this course offers practical advice and strategies to secure the financing your business needs to thrive.
Funding Source Overview
Explore the spectrum of funding opportunities with the "Funding Source Overview" course. This essential guide introduces you to the diverse world of business financing, from traditional bank loans and SBA loans to innovative online lending and venture capital. Understand the pros and cons of each funding source, eligibility criteria, and how to align them with your business needs. Gain insights into navigating the application process, optimizing your chances for approval, and strategically choosing the right mix of financing to fuel your business growth. This course is your roadmap to identifying and securing the optimal funding sources for your enterprise.
Become Lender Ready
About Lesson

5 Questions to Ask Before You Apply for Financing

Consider these questions and as you move through the course you will have a better understanding of why each lesson is relevant in your path to financing.

1. How much do I need?

How much you need may be different than how much you want, so be sure to crunch some numbers to figure out much you need to borrow to accomplish specific goals. Also ask yourself what you might do if you are approved for more than you expected— should you take it? If you’re not sure, your accounting professional or a business adviser such as a SCORE mentor can help.

2. How fast do I need it?

Some types of financing, including online lending options, can be obtained in just a few hours or a few days. Others, such as traditional bank loans, including SBA loans, can take a month or more to be approved. Many fall somewhere in between.

3. What are my credit scores?

Some lenders review personal credit scores, business credit scores, or both. In addition, certain negative information that may appear on your credit reports such as bankruptcy (especially open bankruptcies) or business tax liens could affect your ability to secure financing. Simply knowing your scores is an important starting point, but the more important question is, “How do lenders view my credit scores?”

4. How long has my company been in business?

“Time in business” is a common question on loan applications. Some lenders require that your company has been in business for minimum number of years (more than one year is common) before you can qualify. Lenders recognize that younger businesses are higher risk.

5. How much revenue does my business make?

A number of lenders will want to know your annual revenue. Some may drill down deeper and look at average monthly revenue, cash flow, and/or debt-to-income ratios. If your business is seasonal or cyclical, lenders may want to review a longer history of revenue. It’s recommended (and sometimes required) that you have a business bank account so that you can easily gather this information and provide the lender with monthly business bank statements when requested.