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Why Consider A Business Finance & Credit Private Label?

3. July 2016

If you own a business then you are keenly aware of the near constant need for access to working capital. For most businesses locating and securing a good source of working capital can be very difficult to locate and at times seem overwhelming to secure. If at the same time your business services or supplies small businesses then it would be in your best interests to assist your small business clients or prospects with their need to locate and secure business financing. But you don't want to be a business finance or credit broker and that is where the Business Finance & Credit System comes in.

First developed in 1996 the Business Finance & Credit System has served more than 500,000 businesses. It is a software platform that simply teaches your small business clients or prospects what they need to do to pre-qualify for business financing and then it shows them where to go get it. The system helps small business owners to optimize their business and personal credit, to position their business the way lenders want to see them, and then have access to the funding program and approval criteria of over 7,000 sources of business financing.

For you it is about providing your small business clients with a tremendous value-added service to your core business offering. You know that the better financed your small business clients are the more of your core business offerings they can use. Your Private Label is 100% self contained with nothing for you to do or maintain. You simply give your clients access and the system does the rest. The best part is that your Private Label is an excellent additional revenue stream for you while providing an extremely valuable service to your clients. Win-win.

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Quick Access To Business Financing

3. July 2016

Is there such a thing as quick access to business financing? The answer is yes, but the forms of quick business financing are vastly different.

The first utilizes the personal credit of any business owner and can quickly fund $50,000, $100,000, or even $150,000 per principle of the business. That means if the business has three owners than three fundings could take place and the business could raise as mush as $450,000. This type of funding is FICO score credit driven, requires a clean credit history, no public records, and very few recent inquiries. "Credit Partners" can even be brought in to personally guarantee the financing. This type of financing normally funds in 3 to 4 weeks and comes with 0% interest for at least the first 12 months. If you the owners are willing to take the personal risk, then this financing is quick and easy.

The next quick access financing is tied to existing revenue. If the business has consistent revenue, normal credit card receipt volume, or routine monthly Paypal invoice collection, then an amount can be "advanced" against those recurring monthly revenue streams. This type of financing considers only the revenue stream history of the business and not the personal credit of the owners. It can normally be a one for one advance, meaning that if your business has normal monthly revenue of $25,000 then a $25,000 advance can be made. This advance can be funded with days, but there is a catch. The interest rate on these advances is in the 30% range but there is a catch there too. That is 30% paid back in an average of 9 months, whcih makes the APR even higher. If the business can stand the high rate, then this financing too is quick.

These two types of financings fund the fastest and require the lowest documention. The first requires only the personal credit report of the owners and identity verification. The second only requires proof of business ownership and the verification of the revenue stream. 

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What Is The Business Credit Scoring System Based Upon?

2. July 2016

Business Credit Scores typically range from 0 to 100 with anything over 80 being excellent.

With personal credit payments can be made 29 days late for months and months with never having any impact on personal credit scores. That is because only 30 day lates are tracked with no one reporting or tracking late payments of 29 days or less. Not true with business credit scores.

Business credit reporting tracks down to the day the payment is made. Therefore if the payment was due on the 15th but is paid on the 5th it is reporting as being paid 10 days early. The same it true if the payment due on the 15th is paid on the 25th, that payment is reported as 10 days late.

Having business credit scores of 70 means that the payments due on the 15th are for the most part being paid ontime on the 15th of each month. While business credit scores of 60 let everyone know that the business in question typically pays its' debts 10 days late. The reverse is true of business credit scores of 80 which lets everyone know the business typically pays its' debts 10 days early.

For a small business to be viewed by lenders as low or very low risk of default, then that business should maintain business credit scores of 80 or higher. 

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What Is Lender Compliance And How Is It Used?

2. July 2016

Before a lender will approve a small business for financing they are first going to want to know what is the risk of default. They keep very close watch on the payment performance of their own loan portfolios and the loan portfolios of other lenders. What they are looking for are those items which the higher default rate businesses have in common.

For example, lenders have found that those small businesses using a residential address have a higher risk of default. The same is true for those small businesses who; use a cell phone as their primary business phone, don't have a website, or have a free email service such as gmail, yahoo, hotmail, as their primary business email. They have also found that those businesses that are not listed in the national 411 directory assistance or cannot be found in local SEO searches, have a higher rate of defaults in the loans they have made in the past.

These groupings of items which have shown to increase the likelyhood of a small business to default on a loan is what makes up Lender Compliance. Unfortunately 99% of small business owners don't even know that these Lender Compliance items exist and therefore they never do anything about them.

There are about twenty different Lender Compliance items and lenders are adding to their lists all the time. A recent addition, for some lenders, is the ICANN registration. This shows who owns a website. If it doesn't show that your business owns your business website, then that one Lender Compliance item may be getting you declined.

The Fundability Business Finance & Credit Private Label System insures that your small business clients will know about all Lender Compliance items and exactly what they must do to complete them. 

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Helping Your Small Business Clients To Be Categorized As Low Risk

2. July 2016

Business lenders have default risk assessment computer programs that are going to categorize your small business clients as; High, Medium, Low, or Very Low risk. If your small business clients are categorized as either High or Medium risk of default, then most likely their applications for lender or vendor financing will be declined. But it doesn't have to be that way.

By having your own Business Finance & Credit System you will be providing your small business clients with a Step-By-Step proven system for their businesses to be categorized as Low Risk by all business lenders and those vendors offering lines of credit for their product and services.

Your Private Label business finance & credit system will give your small business clients all the tools they need to first become Low Risk and then to have access to over 4,000 business lenders and over 3,000 vendors who are extending credit to other businesses.

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