Inspiring Investments, LLC

03/01/2024

08/01/2023

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Imagine having the ability to access almost $50,000 for your business. Your success in business is based on your business credit profile and score.

08/30/2022

This webinar will provide details about financing and some of business credit.

Register for free here.

A great website is essential for your company’s success. If you are looking to build a new startup website or make your current site more effective, join us as we explore the key steps to getting started and helping your small business website compete effectively in the online marketplace. Join us...

07/25/2022

Steps to help your business proceed towards obtaining capital.

1. One should make sure their business meets lending requirements.

07/25/2022

Hi! I thought you might like to read this article: Steps to help your business proceed towards obtaining capital.

1. One should make sure their business meets lending requirements.

03/02/2022

Financing Tips...

Lenders and credit issuers have a secret set of criteria you must meet to get approved, if you meet the requirements, you can get an automated and immediate approval, if you don’t you get denied.

Many business owners have experienced this before when applying for credit cards.

Many entrepreneurs think their loan applications get denied because they don’t qualify, but in reality, more than half of bank loan applications get denied due to potential fraud concerns because your business doesn’t meet these fundability standards which are (fraud red flags).

There are several fundability factors that affect your approval and not meeting these is why your application will get denied.

Once you have established your fundability, now it’s time to start building your business credit profile.
This is a process, and you start with getting some beginning vendors who will approve you with nothing reporting then you’ll move on to the higher limit, more well-known sources.

02/08/2022

Business Credit Has No Impact on the Business Owner’s Personal Credit...

When done properly, you can get business credit without supplying an SSN on the application.

This means there is no credit check from the business owner for approval.

This also means that anyone who has bad, even horrible personal credit can still get approval for business credit. (I still educate clients to work on personal credit also)

Business credit reports to the business credit reporting agencies, not the consumer reporting agencies.

As business credit is used it has no adverse impact on the owner’s consumer credit because it’s not reported to consumer agencies.

This means using the account, even over 30%, won’t have any impact on the personal credit scores.

Also, there are no inquires on the personal credit when you apply for business credit as long as you don’t supply your SSN.

30% of your total consumer credit score is based on utilization, so if you use your personal credit to get credit cards for your business and if you use those cards you will lower your scores.

Using more than 30% of your limit WILL result in a score decrease.

If your limit is $1,000, a balance above $300 lowers your scores.

This means 40% of your total score is damaged just by applying and using the credit you get with your consumer scores.

True business credit affects 0% of your score.

10% of your total consumer credit score is based on inquiries, so if you are using your personal credit to apply for business loans and credit, your scores will go down due to those inquiries.

Those inquiries can stay on your credit for an extended period of time affecting your ability to borrow more money with Lenders.

And some unsecured business lending sources won’t lend you money if you have two inquiries or more on your personal credit reports within six months.

With business credit, the credit doesn’t report to the consumer agencies, so neither inquiries nor utilization have any effect on your consumer credit scores.

This is one more reason every successful business has business credit.

Call us today at 1.888.568.7718 ext. 101 so we can talk more about getting money and credit for you and your business.

01/29/2022

Stress Less, Earn More.

01/26/2022

Seeking Financing For Your Business?

Make Your Business Has a Credible Foundation.

One of the most important things you can do to make you are approved for money for your business is to make sure your business is setup credibly.

There is a secret set of requirements that all lenders have to determine your approval.

Lenders don’t want you to know about these secret requirements.

Making sure you meet them will be crucial to helping your business to be approved for business credit and funding.

1. Make sure your business name and EIN number is correct on all your licensing, tax documents, bills, and other pertinent documents.

If this information is even a little off, you can be denied.

2. You must have a professional email address like [email protected].

Having a professional email address and website goes a long way to establishing your business credibility and is crucial to you being approved for business funding.

Get rid of gmail, yahoo and more emails like that.

These are just some items to get started...there are more steps on the journey.

Make sure that your business is setup credibly to stand the best chance of being approved for funding.

01/25/2022

One Can Obtain Money Based on Your Business Strengths

When you apply at a conventional lender, they want to review everything.

They look at your business P&L statement, balance sheet, tax returns, business and personal financials, business and personal credit, revenue, collateral and more. It’s hard to believe anyone gets approved considering they scrutinize so much information.

What most business owners don’t know is that they can secure money for the business based on the strengths of the business, without having all these items reviewed.

Every business has its strengths, and weaknesses. When a lender requires all this documentation, they typically will find the weakness of the business.

Once they find the weakness they then use it as an excuse to deny the application, and not lend the business owner the much needed funding.

When a lender only looks at the businesses strengths, then it has the best chance of being approved for the most amount of money.

Some businesses have collateral as their strengths including purchase orders, account receivables, credit card sales, equipment, inventory, commercial real estate, cash flow, or other business assets.

Some business owners have 401ks, IRAs, or other securities they can use as their strength to secure funding.

Most types of legitimate business collateral can qualify a business for money.

This money can be secured more quickly than conventional financing, with less headaches, and a much greater chance of approval.

There are many strategies to build your business strength, however, this is information to help educate to proceed.