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BUSINESS FUNDING

Leader in Business Financing scan for Small and Big Businesses. The majority of business needs, including long-term fixed assets and operating capital, can be met via loans.

 

 

BUSINESS CREDIT

The purpose of the loan program is to advance or finance business. Discover how to use small business loans and credit to finance your company’s needs by exploring our small business financing options.

PERSONAL LOANS

Consolidating accounts with high interest rates, funding one-of-a-kind items, or paying off large bills are all excellent uses for personal loans. If you don’t want to use company credit to get funds, this is a fantastic choice.

 

BUSINESS LINES OF CREDIT

A business line of credit allows you to borrow up to a set level and just pay interest on the money you borrow.

ACCOUNTS RECIEVABLE FINANCING

Accounts receivable financing is a financing solution that leverages your company’s outstanding invoices as collateral for a lump sum of cash.

MERCHANT CASH ADVANCES

An advance against future sales, based on prior debit and credit card sales. Amounts start at $5,000 and range up to $500,000.

PERSONAL LOANS UP TO 100K

An unsecured loan, meaning it does not require collateral. It gives you access to funds you can utilize for a variety of objectives

7 Tips For Building Business Credit

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Check your business
(and personal) credit

Don’t know if your business has credit? No worries: There are several ways to check your business’s credit reports. Unlike with personal credit reports, there isn’t a legal requirement for the bureaus to give you free access to your business credit reports. All three of the major business credit bureaus — Dun & Bradstreet, Equifax and Experian — will give you a full copy of your business credit report for a fee. Some free services may also give you access or summaries of your business credit reports and scores.

Apply for a business credit card

To build your business credit profile, you’ll need accounts and vendors that report your payments to the credit bureaus. A business credit card can be a good start. Business credit cards may also offer benefits and rewards programs that are more helpful to business owners than the features or rewards on a personal credit card.

Monitor your credit reports

Errors and fraudulent activity can affect your business’s credit and make it difficult — and more expensive — to borrow money. Make a point of checking your business credit reports for errors a few times each year. If you find one, you can try to get it corrected by filing a dispute with the respective business credit bureau.

Work with vendors
that report payments

In addition to opening a business credit card, you can build your business’s credit by opening accounts with vendors that report payments to the business credit bureaus. You may already have vendors that you pay on terms, but ask (rather than assume) that they report the payments. If they don’t, consider opening accounts with new vendors after verifying they’ll report your payments.

Pay vendors early

One widely used business credit score, the Dun & Bradstreet PAYDEX score, ranges from 1 to 100, with 100 being the best score. The score is based on your payment history with vendors. Paying on time can get you a good score — up to 80. But what some business owners may not realize is that to get the highest PAYDEX score, you need to pay vendors early.

Use your business credit to manage your cash flow

One potential benefit of building your business’s credit is you may become eligible for lower rates and better terms with vendors. Both of these can help you manage your cash flow — the lifeblood of many businesses. You can also use a business credit card to manage your cash flow. A credit card’s grace period lets you avoid interest charges, while lines of credit might accrue interest immediately. Heads up, though: If you revolve a balance on your credit card, the interest rate may be higher than what you’d pay on your credit line.

Establish your business credit

If you didn’t find anything when you went to check your business’s credit reports, it’s possible that your business hasn’t established any credit yet. This might happen if you use a personal credit card for your business’s expenses, as your payments will only wind up on your personal credit reports. Although some business-scoring models can generate a business credit score based on your business and personal credit history and other business financial information, others rely solely on information related to your business. To establish business credit, you may first need to take the following steps: Incorporate your business or form an LLC (limited liability company). This ensures your personal and business identities will be separate. Get a federal employer identification number. This is a free service offered by the IRS. An EIN acts a bit like a Social Security number for a business entity. Open a business bank account. Make sure you use the business’s legal name. Get a dedicated business phone line. You’ll also want to make sure it’s listed under the legal business name. Register with Dun & Bradstreet to get a D-U-N-S number. This is a nine-digit number used to identify each physical location of your business. It’s free for all businesses.
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