*Plus get instant access to the 3-part Fundability™ training - a systems that helps your business become more Fundable and makes you look great to credit issuers and lenders
Top industries, according to the Alabama Department of Commerce, include automotive and aerospace. The state is also known for agriculture and forestry products, along with bio science and chemicals, and metals and advanced materials.
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There are three types of term loans. Rather unimaginatively, they are called short-term loans, intermediate-term loans, and long-term loans.
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Credit lines and other types of business credit can be a real lifeline during inflation, helping businesses stay afloat and even grow.
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More flexible than a term loan, an LOC can be harder to get from a lender, and with a higher interest rate, but you only pay on whatever you draw. LOCs are also refillable so, as you pay off a draw, you can draw those funds again and again.
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A guarantor on a credit card account is a person who signs an agreement to pay off a loan for someone else if that someone else defaults. It is similar to co-signing; in that it is a technique often used among family and friends to let a person with good credit vouch for a person with new credit or bad credit to get a loan.
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In our hurry up, get it done yesterday culture, business owners may understandably be looking for a shortcut or an easy fix. The idea behind shelf corporations is that a startup, by definition, has little to no time in business. And, a startup often has few (if any) tradelines or other credit experiences. So, rather than wait and build corporate credit the old fashioned way, a small business owner may be tempted to short-circuit the process by buying what’s called an aged shelf corporation.
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If you are a trucking driver, we can meet you where you are. Whether it’s just you driving or you have multiple drivers, Credit Suite can help you get the business credit you need.
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It is hard to find funding for your business when you don’t know what your options are. Your fundability affects which options are actually available to you.
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