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In order to obtain business financing you must know where you are right now! Do you?

You must know what any funding source is going to look for before you apply. If you don’t, you are completely wasting your time and will most likely be declined.

There are over 4,000 institutional sources of business capital in the United States and each one has different criteria for funding a deal. Each one of these sources will tell you NO for just "1" thing. On your own, how can you possibly know what every funding source’s "1" thing might be? will coach you on exactly what it takes to pre-qualify before you apply and exactly where you need to improve to pre-qualify for more funding programs in the future.

Less than 3% of businesses that attempt to receive funding on their own ever do! The bottom line is that you are foolish for going it on your own. If you apply at multiple places without pre-qualifying, you may damage your credit and will destroy your chances of receiving funding from the sources that would have done your deal.

Start by doing a Business Credit Assessment on you and your business. This process can greatly increase your chances of gaining a successful funding approval and at the very minimum tells you where you currently stand.

Begin by going to and finding out what your personal FICO score is and the FICO of all the principals of the business (anyone who owns more than 10% of the business). This will cost you less than $40 to find out the exact FICO score for each person for all three (3) credit agencies and will not cause an inquiry to appear on your credit history.

Your FICO score is a numbering system created as a result of your personal credit worthiness based on your past and present usage of credit. Any score above a 680 will easily qualify you for business financing. With a score above 640 there will be some creative funding programs available to you; and with a score below 620 you will most likely need to find someone other than yourself to act as a guarantor for business funding, unless your business has assets or receivables to secure the financing.

For example, your guarantor could have a FICO score of 720 when it is calculated from the Equifax report and a 690 when it is calculated from Trans Union. Most business funding sources use the FICO score(s) as a "Go", "No Go" switch. It is important to know your Guarantor’s FICO scores from all three (3) credit agencies before you apply for a business loan.

Next you need to know if your business has a "Business Credit Profile" and a PayDex score. A PayDex score is similar to a FICO score only it is the measure of your business credit worthiness. I will explain it in further detail later.

Having a PayDex score of 75 is like having a FICO score of 750. Go to to find out if your business is already listed and has a PayDex score.



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