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
An Introduction To Business Credit
Many small business owners are unaware of their ability to build a business credit profile so they can stop using their personal credit to fund their business. You can separate your personal liability and protect your personal assets from that of the business just by incorporating. Once of the main advantage of building your business credit is that you can separate your personal assets and liabilities from those of the business. If the business incurs a debt that it is unable to repay, your personal assets (house, car, belongings, etc.) are not at risk.
We have developed a program designed specifically to help small business owners build their business credit profile and separate their personal liability from their business. But before we start building your business credit you will want to make sure that you fully understand the basics of business credit. Being able to speak knowledgably about business credit will make your lender feel confident in you, and thus enhance your chances of obtaining a loan.
The Basics Of Business Credit
Financing is a critical part of growing a small business and almost always a very large concern for the owners. Nothing is more important and vital to the health of a small business than having the right financing in place.
Most small businesses are initially financed by the personal savings or assets of the owners and can rapidly reach a stage of growth where they are forced to seek credit or investment solutions to fund that growth. Below I am going to teach you how to build your business credit profile in order to assist you in obtaining the financing you need to grow and succeed.
Business owners quickly realize that applying for business funding is a much more complicated process than applying for personal credit. Applying for business funding requires careful preparation and demands that you understand the process and what it takes to qualify.
Why Do I Need An Established Business Credit Profile?
As an Underwriter does their due diligence in determining your credit worthiness, they will also rely heavily on what’s being reported to your businesses credit reports. Business credit scores predict the likelihood of a late payment and lenders review them for one reason, to determine the likelihood of the business going delinquent. Much like a consumer credit report, a business credit score uses credit history to calculate a number indicating a company’s risk.
Underwriters look closely at your business credit reports for numerous reason, one reason is to find debt that may not be reporting or listed on your personal credit report. There are 3 major business credit agencies that lending institutions typically use in their underwriting process; Dun & Bradstreet, Experian Business and Equifax Business. Let’s break down each agency and their specific grading criteria.