FUNDING: SPONSORED CONTENT
specifications you must meet to have a profitable relationship with them.
THE FUTURE OF BUSINESS FINANCING
Imagine a world where entrepreneurs, like you, walk confidently into any financial institution, ready and equipped. A world where approval-ready isn’t just a buzzword, but a badge of honor worn by business owners who have mastered the art of securing the funds they deserve.
At Get Fundable! that is the world we are helping to build
Business credit is more than just numbers on a sheet. It's the lifeblood that pumps through the veins of every thriving enterprise. By understanding its nuances, pros, and cons, you're not just seeking funds—you're building a legacy. Here's to a future where every entrepreneur knows their worth and gets the credit they need to take their business to the next level! •
Cons: With credit cards, it’s easy to spend beyond your business’s ability to pay the monthly payment amount, and they can have high-interest rates (especially for first-time business credit card holders).
access to cash, especially for businesses with strong daily sales.
Cons: Merchant cash advances have very high interest rates. It's a percentage of your daily sales, which can eat into your profits.
4. INVOICE FINANCING
MAKING YOURSELF "APPROVAL-READY"
Pros: Get money upfront for unpaid invoices. It's a great way to keep cash flow steady. Cons: It's more expensive than traditional lending. You're essentially selling your invoices for immediate cash, but at a discounted rate. 5. EQUIPMENT FINANCING Pros: Equipment financing is perfect for businesses needing specific machinery or technology. You can finance the equipment and pay in installments. Cons: The equipment serves as collateral. If you default, the lender can seize it.
Being approval-ready isn’t about wearing a fancy suit to the bank. Being approval-ready means understanding what lenders want to see: ▷ A SOLID BORROWER PROFILE. A solid borrower profile tells lenders
Merrill Chandler, a personal and business credit pioneer and co-founder of Lexington Credit Repair Law Firm, became dissatisfied more than 30 years ago with the ineffective
results of credit repair. He discovered that getting approved for personal or business credit did not rely on a credit score but, in fact, was the result of having “fundable” borrower behaviors. With the right strategies, a borrower could “optimize” their financial behaviors to become highly fundable, increasing the frequency and amount of their credit approvals. He co-founded Get Fundable! to help real estate and business entrepreneurs nationwide grow their businesses the way they want, resulting in his students and clients becoming more fundable and getting more than $250 million in funding.
you're reliable. If it's not stellar, start working on improving it.
▷ A QUALIFIED FUNDABLE ENTITY. It tells lenders you aren’t high-risk. If your business name indicates any type of risk, or your SIC or NAICS codes are from a blacklisted industry, take the steps to correct that. ▷ STELLAR BANKING BEHAVIORS. It tells lenders you know the exact
6. MERCHANT CASH ADVANCES
Pros: This option provides quick
32 | think realty magazine :: january – february 2024
Made with FlippingBook Online newsletter