The business finance pre-qualification test is broken into four stages. At each of the four stages, we are processing data in the background to provide you with the most accurate results.
So let's take a look at each stage of the test and break them down.
Test Stage 1 - First, we ask you to provide some information about your business. In doing so, we will be checking US Postal Service, FCC, and Secretary of State databases to see if your business has any of the Lender Compliance items completed. The lender compliance items we test are: is the location you provided a business or residential address, is the phone number a business line, residential, or cell phone, and is your business its own entity such as a corporation or LLC. There are other lender compliance items your business will need to complete, but this gives us a sense as to where your business is on completing those items.
Test Stage 2 - On this part, we ask you to provide some information on the status of your business, such as business revenue channels and existing assets. This information is used to test against some of the underwriting approval guidelines of the funding programs. Not all funding programs are tied to revenue or assets so there may be funding available to you even if all your answers are zero.
Test Stage 3 - Here, we are asking credit related questions. We are checking business credit databases to see if your company has its own business credit reports and scores. We are also checking to see how many trade lines are reporting on your business credit report history. This is done without creating any business credit inquiry. This page also asks you to tell us about the personal credit of the business owners. We ask you not to estimate those scores because many business finance programs have a personal credit cut off filter. For example, for business credit cards the FICO score cut-off is 700 for all three scores. We also ask if there is a bankruptcy or other public records on the report. These too can be a decline reason for some funding programs, but not all.
Test Stage 4 - This is your results page that lets you see what funding programs you pre-qualify for now and what your next steps should be. You will be contacted by us for your free business finance consultation to discuss options, answer any questions you might have, and make sure that you know what to do next.
The business finance pre-qualification test is fast, easy, and free. Best of all, its results are accurate, and they give you a clear picture of where your business stands in the getting financed process.
If your business is pre-qualified, then we make sure you understand everything about the funding programs available to you before you apply. If your business is not pre-qualified, we provide you with a hands-on educational system that shows you step by step what to do to get pre-qualified and gives you the tools you need to get that job done.
Everything we try to do to help your business get financing begins by taking the free test.