For agencies
What to say about a funding range, and what to leave out
A range is the most useful thing a rep can share, and the easiest to turn into a promise by accident. Here is how to say it so it holds up.
The FundingRange blog
Know how funding works before you ask for it.
How lenders read a file, what moves a funding range, and which kinds of capital fit which business. Written for owners deciding their next move and for the agencies that advise them.
Guides
- Credit and your scoreWhat a credit check does, what lenders see, and how to look at your own file before anyone else does.
- Getting ready to applyThe mistakes worth skipping, the number worth knowing first, and the questions to settle before you sign anything.
- For agencies and brokersPutting a soft-pull check in your intake: what to collect, what to say, what to keep on file and what to do when the answer is no.
Credit basics
What to look for in your credit report before you apply
A lender is going to read your file. Read it first. Here is where to get your reports, the five things to check, and what to do when something is wrong.
Before you apply
What a personal guarantee means for you and your business
Many business loans ask the owner to stand behind them personally. Here is what that means, who gets asked, and the questions to settle before you sign.
Funding range
Matching the money to the need: working capital, equipment or property
Funding comes in shapes, and each shape is built for a purpose. Start with what the money has to do, and the right products get easier to spot.
For agencies
Five facts to collect before the first funding call
Purpose, time in business, revenue, ownership and existing payments. With these five, a funding call becomes a plan instead of a guess.
For agencies
Adverse action notices, explained for agencies
When a decision rests on a consumer report, a notice may be owed. Here is what it contains, who sends it, and the habits that keep you on the right side of it.
Credit basics
Soft pull or hard pull? What each one does to your credit score
One is a look at your file. The other is a lender deciding on you. Here is how to tell which one you just agreed to, and what each one does to your score.
For agencies
Adding a soft-pull check to your funding intake
Qualifying a lead before the first call saves everyone time. Doing it well comes down to who you check, what you show them, and what you keep.
The vocabulary
Pre-qualification is not an application: what the three words mean
Pre-qualification, preapproval and an application are three different steps, though lenders use the words loosely. What matters is what was checked, and what you agreed to.
Funding range
How much business funding could you qualify for?
There is no single number, because every lender sets its own bar. Here is what lenders weigh first, and how to see the shape of your own answer before anyone asks you to apply.
Before you apply
Five mistakes that cost owners before they apply for funding
A lot of funding trouble starts before the application is sent. These five ordinary mistakes are the usual culprits, and each takes minutes to avoid.
For agencies
Consent on file before the call: a yes you can show
Capture the yes at the moment of the ask, from a form or a phone call, and make it hard to change. Here is what the record holds and why it makes the call easier.
Read enough? See your own number.
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