A couple of tips

December 5, 2008

We have seen a pattern arising with a lot of people we talk to. We are finding that a lot of people are inadvertantly shooting themselves in the foot. In order to get business credit these days, a good personal guarantor is essential. Having a good FICO score is not always enough. Banks are looking at your “risk factor” which incorporates more than just your FICO scores. When you become a client, we will go over both your personal and business credit in order to assure you get the most money possible from our lenders.

The problem arises when somebody tries to do everything by themselves without understanding the rules of the game. People are running up their personal credit and applying for all the credit cards they can. When that doesn’t work, then they come to us. But now it is much more difficult for us to get them business credit because of the actions they have taken upon themselves to do.

We advise people to have a little foresight and talk to us before going out and trying to do it on their own. People who follow our instructions usually get funding in a timely manner and keep both their personal and business credit healthy. People who don’t follow our instructions invariably shoot themselves in the foot. I only say this because we want you and your business to succeed. We want to help you. And I hate to see people destroy their business and their credit when it could be avoided. Give us a call and let’s discuss your situation.

Written by billshuttic · Filed Under Uncategorized