Fast Money Guide

Do you have a business idea, but lack the funding to launch it?

Have you been denied a business loan from traditional funding sources?

Are you tired of not making your business dreams a reality?

Finding business loans and obtaining business funding are critical parts of 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 business credit 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 business credit or investment solutions to fund that growth.

Business owners quickly realize that applying for a business loan is a much more complicated process than applying for personal credit. Applying for a business loan requires careful preparation and demands that you understand the process and what it takes to qualify.

You must know what any lender is going to look at before you apply for your loan. If you don’t, you are completely wasting your time and will most likely be declined. Start by having a Business Credit Analysis performed on you and your business. This simple and very inexpensive process greatly increases your chances of gaining a successful credit approval.

The first step to building your business credit is to make sure your company meets the expectations established by lending companies. This process is most commonly known as corporate compliance. Corporate compliance helps your company put all of the necessary elements in place to qualify for the initial lines of credit used to build the score.

After the corporate compliance process has been completed, you will begin working with specific companies that are willing to extend initial lines of business credit. These companies report payment history to business credit bureaus, producing a business credit profile.

Before you begin applying for the lines of business credit that will result in a credit score, your company must meet the requirements of the credit market. Meeting these requirements will provide your company with the highest degree of assurance that all applications submitted to obtain lines of trade credit have the highest likelihood of approval.

You will receive a list of vendors who will enable you to create a business credit profile through the routine, recurring use of the accounts established for your business.

Before lenders will grant a business loan, they want to be sure the loan will be repaid. Every loan carries risk, so banks and lending brokers want to take as small a risk as possible.

Want to know more? Contact an NCH Business Funding specialist to see how much you qualify for and how NCH can help you achieve all of your business dreams.

Call 1-800-508-1729, Monday thru Friday, 8am-5pm Pacific Time.

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