Why establishing business fundability matters and how to achieve it easily.
Fundability matters. It's so easy to get lenders to decline loan applications and
creditors to not give you credit. Building a fundable business will help
you get approved. The business will stand on its own. It can't look like a hobby
you do in your spare time. Even if it started off as a side gig.
Let's check out your website and e-mail credit providers will research your
company online. It's best if they learn everything straight from your company
website. Not having either will undercut your business's fundability. Even the
most non-technical professions are expected to be online these days. This is
true even if your clientele isn't too computer savvy. Use places like
templatemonster.com and upwork.com and get a side up cheap and fast. You need a
professional website with email on the same domain. Buy a domain from a place
like GoDaddy. Your domain should be your business name if possible.
If you can't get your business as your domain, get creative.
Try using spelled out numbers for numerals or vise versa. Or a catch phrase
associated with your business or something relating to your area and your
business name. Long domain names are hard to remember and you need to print them
on places like business cards and menus, flyers and bookmarks and other swag.
A .com is best .net and .us are decent substitutes. It's best to own
all of those.
Owning yoursite.com, yoursite.net, etc. isn't just a nice idea. It's vital if
your company is ever the target of online smear campaigns or if there's a
social media crisis. For that same reason, also, get yoursitestinks.com, etc.
plus earthier versions. In the midst of an online crisis, you will be so glad
that you did because that makes it hard, if not impossible, for mischief makers to
spoof your site. You need a company email address for
your business. Use a professional email address such as your name at yoursite.com.
This usually comes with a website domain providers such as GoDaddy.
It is not just professional. It also greatly helps your chances of getting
approval from a credit provider. Do not use Yahoo, AOL, Gmail, Hotmail or similar
kinds of email. Something more generalized than a name is easier to
scale. You can always give an admin address to an assistant to manage. You
might not be able to do that with janesmith@yoursite. Don't get cute with
names basic generalized names are best. Cuteypie@yoursite is a bad idea
even in a playful industry that caters to kids.
Let's look at your licensing and business listings. Contact State, County and City
Government offices to see if there are any required licenses and permits to
operate your type of business. Do not apply if you are unlicensed. Take the
time to verify that main agencies State, IRS, Bank and 411 National
Directory have your business listed the same way and with your exact legal name.
Also, take the time to make sure every bill you get power bill, phone bill,
landlord, etc. has the business name listed right and comes to the business
address. Make sure you have the right licensing for your business.
Be sure to check often the Secretary of State's office can help.
Let's recap. Keep all records consistent to ensure Fundability set up your
business legitimately with a domain, phone numbers and address and more, get
all ID numbers and register with the IRS. Choose a business entity, corporations
are best. Make sure you've got all the necessary licenses. Set up your business
business bank account for fundability and get your personal credit house in order.
Contact us today to learn more about why establishing business fundability
matters and how to achieve it easily.