Where Can I Get Free Assessment of Eligibility for Funding for My Business?

The last thing you should be thinking about when you are getting ready to ask for a loan is if your business fundability is strong. That is something you should check out long before you walk into a lender's office. Unfortunately, too many business owners are afraid to ask. They feel that not knowing is not as painful. That may be true until you walk into that office for a loan and have a lender look at you with a disapproving look.

Know Your Business Knowing where your business credit stands, and if you have the proper business fundability to get a loan puts you in control. You can take the right steps to improve areas that are not strong when needed, or if your business credit is stellar, walk into a lender's office with confidence.It doesn't have to cost money to find out what your business fundability is. You can get business funding information from The Business Fundability Test and also find many helpful tips for improving your business fundability. Another very helpful website for a free business credit assessment is the Small Business Association.

They are in the business of helping small businesses like yours get their credit in order and making sure you have everything you need to get a business loan.For more information on not only what funding you currently wualify for, but also how to build your business credit take a look at Business Fundability. Business Fundability has a lot of information on creating better credit, how to find money for your business and strengthen your credibility.All of the major business credit associations can provide you with an overview of your credit. Just like with your personal credit, it is important to check on each of them. No one credit reporting agency has all of the information on your company. Experian Business, Equifax Business and Business Credit USA are all important checkpoints along with the major reporting service at Dun & Bradstreet.

Business Credit Number ShockNew business owners are often shocked when they first view their business credit rating at any of the above companies. To avoid going into convulsions and thinking your business career is over, remember that business credit is scored on a 0 to 100 scale, not the 300 to 850 that personal credit ratings use. A business credit score of 75 or more is excellent.

Venture Capital Funding

Venture Capital Funding - Get capital for your company's growth.

Typical Investment Criteria is: Your business should have annual revenues of approximately $5 million to $35 million, and have some history of operating profitably.

Your business may be in any industry. The industry may be either mature or fast-growing.

Your business should be capable of becoming a leader in a growing market niche and achieving annual revenues of $10 million or more in a five-to-ten year time period.

Particularly attractive to venture capitalists are market niches where it is possible to:

Transform companies into growth businesses through the application of technology or capital equipment or Combine fragmented market participants and achieve economies of scale.

There is usually a minimal amount of information to begin the evaluation process with a venture capitalist. Here are some items that they will need from you:

Your company history and description of the business.

Your historical financial information (including summary profit and loss statements and balance sheets) for at least the past three years.

A listing and description of your product lines or services you offer, along with any available product, marketing or service brochures.

Resumes/biographies of all your key personnel.

A description of the current ownership structure.

Getting A Small Business Start up Loan

The sense of pride and joy of running your own small business cannot be over exaggerated. Many of today’s largest and most successful companies started out in someone’s kitchen or workshop and became a raging success and household name. But it can be a struggle to start a small business alone, especially financially. Prospective business owners may already have learned this when they began to seek a small business start up loan.

The benefits to receiving extra funding from a small business start up loan are many. An owner can quickly get his or her business idea up and running. The extra cash can be used to purchase, lease, or renovate a building. An owner can advertise his or her concept in a variety of forms—banners, newspaper or radio advertising, starting a website, and getting new business cards. Additionally, an owner can get new equipment, tools and other items necessary. Extra funding can help a business owner make a big impact at first, and give a good first impression to his or her customers. A great beginning is key to the success of a new small business—and a small business start up loan can help attain just that,

Unfortunately, it is not so simple when it comes to the loan process. Potential business owners are quickly discouraged when lenders impose a long list of requirements that are difficult or impossible to meet. Detailed business plans and collateral requirements are the two biggest setbacks when it comes to obtaining business funding. And many loan processes take weeks or even months!