Did you know that the way that you set up your website and bank account can affect
your ability to get credit and financing and this training we're going to talk about
exactly what you need to do to set up your bank account the right way
to make yourself more fundable and we're also going to talk about the things that are wrong on your
website right now that are preventing you from getting credit or financing look, it's surprising
but the majority of loan applications are not denied because you don't qualify. They're denied
because you miss certain fundability points that lenders and credit issuers want to see including
how your website and your bank account are set up and in this training i'm going to teach you
exactly how to set up your bank account have the best chance of getting approved I'm going
to teach you exactly what lenders are looking for with your website so you can fix them to have the
best chance of getting the most money at the best terms. And I'm going to sprinkle on some of my
best tips and tactics along the way to help you improve your fundability to help you get approved
for the most money at the best terms when you apply for credit cards loans and credit lines
and if you stick around to the end I'm going to need you access to our business credit building
guide along with a lot more details on fundability and the step-by-step process to build business
credit without a personal guarantee and credit check. We've got a lot to cover so let's dive in.
nearly 90% of loan applications that are denied in this country are denied because you
don't meet certain fundability requirements look a lot of business owners think it's your credit it's
your income that's preventing you from getting approved but that's not the case at all the vast
majority of denials happen because the lenders and credit issuers have a secret formula they call
fundability that you either meet the criteria of or you don't and if you don't meet the criteria
in fundability you either get denied or you get approved for less money than you should
or pay higher interest rates than you should you don't want that we want you to get approved for
the most money at the best terms and get approvals versus denials. And understanding this
fundability formula is the key. So let's start off by talking about your website how it should be
structured and why lenders and credit issues are denying you right now because it's not structured
the right way, so yes your website itself can be getting you denied for credited financing right now
so let's take a look at what lenders and credit issuers are really wanting to see on your website,
first of all, you need to have a website not having a website does not make you look fundable it does
not make you look lendable it makes you look like an unestablished business and that's why a lot
of these fundability checks are being done lenders and creditors are trying to determine if you're a
legitimate credible business or you're not so everything you put on an application needs to
reflect your legitimate credible business remember you're the one that controls the perception that
lenders and credit issuers have, you just need to make sure that everything you're putting on that
application reflects that you're legitimate that you're credible and the more credible you come
off as the more likely you are to get approved. So you need to have a website created you need to
have the website on your own domain you don't want to use a Wix type of domain or URL where
you don't actually, control the domain itself as a matter of fact your domain should be your
company name so our company is creditsuite.com our domain is creditsuite.com that gives you the
most credibility when it comes to having a domain that matches your actual company the second
thing is you want to make sure your email address also matches, so our email address is
info@creditsuite.com our company is Credit Suite our website's creditsuite.com perfect example of
what you want to do you don't want to use gmail type email addresses on application for credit
or financing you want to make sure that all that information is congruent your website should also
reflect what your company does even list the products and services that you offer anybody
should be able to go to your website and clearly understand what your company does the products
and services you sell it's even a plus if you have your price points on the website so lenders and
credit issuers computers can see this information keep in mind it's not an individual you don't
have an individual reviewing every aspect of your application what's happening is you've
got computers that are again their algorithm is looking at all of these things, and as I mentioned
and often when I talk about this training is there's a checklist that you must meet to actually
get approved and if it has a bunch of x's or red flags that's typically going to get you denied so
what we want is we want the company name we want a website we want the email address to be all
checks and that happens if you have your own domain you have a professional website bill, it
reflects the products and services you have and that website has your up-to-date contact
information, if you're putting your business name your address your phone number on an application
for credit or financing, you need to make sure that the name address and phone number matches the
website we oftentimes change our address change it for number forget to change the website it's very
important one of the biggest reasons that loan applications get denied is because of potential
fraud concerns and one of the potential ways that you trigger fraud concerns is by actually having
different information in the application than even what's on your website so it needs to be congruent,
so the lender and credit issuer can clearly determine that you applying is the same company
as they've actually found online if you follow those tips then you set your business up where it's
fundable when it comes to your email address and your website and that goes a long way to
helping you get approved for credit financing and your bank account is also very important
to the fundability process because lenders and creditors are looking at certain things
that have to do with your bank account even scores you don't even know about you have
that are related to your banking history to make all kinds of decisions about you and again they're
using this information to determine if you should be approved or denied how much money you
should get even the rates and terms you'll pay so if you've ever been denied if you're not getting
as much money as you want or getting the right interest rates that you want to get it's probably
because of fundability factors like your website and your business bank account so keep in mind
that even if they're not asking you for banking information lenders or creditors or issuers have
this information several different ways first of all you have a credit score that determines how
you manage your actual bank account that's what the score reflects it's called a check systems
credit score CAGX systems check system so check systems is a credit bureau that basically looks at
your banking history and scores you have your own credit score on how you manage your bank
accounts so even though lenders or credits respond to ask you for bank statements they're still
accessing check systems to get that information about you, you also have what's called a bank rating
this is an internal credit score used by the banking system to determine if you should be approved or
denied for actually financing so it's a four and a five level scale low four mid four high four low
five mid five high five score in order to even get approved for an sba loan you need to have
a low five score or higher now how can you get that well you need to keep an average of about
$10,000 in your bank account over the last 90 days no you don't need this to apply for
a lot of financing but if you're looking for SBA financing or loans or credit lines for big banks
you want to make sure you have that, you also need to manage your bank account responsibly have
more money going in than going out don't have any or very few non-sufficient funds have a positive
ending bank balance money at the end of the month in the bank account have a lot of regular
transactions going to the bank have multiple different types of accounts open with your bank
all those kind of things will help give you a good check system score and a good bank rating
which goes a long way to helping you get approved for credit and financing and you want to make
sure all the information on your bank statements and with your bank is the same as what's on the
application for credit or financing and the same as your website your business name your address
your phone number all that information has got to be congruent it's one common things that lenders
and credit issuers look for and oftentimes the law school asks you for a bank reference as well,
so even if they're not asking for bank statements they may talk to your bank reference or just
want to know that you have a bank reference that goes a long way to helping you get approved, also
keep in mind that how long you've had your bank account matters as well your check systems your
bank rating credit scores, when it comes to how lenders and credit issuers perceive your business
the longer your bank account open the better so make sure you follow those tips to help you
become more fundable just because of how you're managing your bank account and wow you
probably didn't know that your website your bank account had so much impact on your ability to get
credit financing but it does, and again there's only a couple of over 120 fundability factors that lenders
and credit insurers look for so if you want to learn more about improving your fundability
including and building your business credit grab our free guide at creditsuite.com/ein
that's creditsuite.com/ein that guide has been downloaded over a million
times gives you a breakdown of several things you need to focus on to improve your fundability
and a step-by-step guide to build business credit without a personal guarantee and credit check and
if you want to talk to us more about fundability give us a call because on a free consultation
we will actually do a fundability assessment to see what's wrong with fundability and what needs
to be improved and fixed to give you the best chance of getting approved for credit financing we
will get your business credit reports for free for you with Dun&Bradstreet, Equifax Experian
cost 250 bucks from the bureau's direct we get a few at no cost review those with you give you tips
and tactics to improve your business credit and we do a funding assessment we tell you all the loans
or credit lines you can qualify for right now all that happens on a free consultation get your
consultation by giving us a call at 877-600-2487 that's 877-600-2487 email us
@infocreditsuite.com or schedule your console.line creditsuite.com/consult that's
creditsuite.com/console if you got value from this training make sure you like and subscribe and
keep your eye out for our next training on more cool ways to get money to start and grow your
business.