The past few years has been changed by the fluctuations in the economy. Sales would surge one month, fully go flat the next and it’s been challenging for many of us to manage the repayment of debt and also cash flow. Business and small business credit has taken a hit and damage has been done, yet we push try to grow them into the near future and to improve our businesses. The problem makes us reluctant to undertake new debt or try although it is completely necessary if we’re to survive to finance new equipment. New gear will enable us to provide the most recent product or services or only keep up with the growing market tendencies in our businesses.
We cringe at exactly what the procedure might reveal although it is time. A solid solution is known as the Credit Preview; this is a step which may take a lot of pain out of the application process. A preview does not cost you anything and will supply valuable advice on your company’s state.
The Credit Preview entails taking your basic minimal company and financial information and reviewing it to ascertain if there is great possibility for a finance approval without needing all of your tax returns, financial statements, debt schedule, etc. It’ll help you save stress, time and energy since the preview will offer rapid feedback in the possibility of having approved. Finance companies understand it does not make sense to dig out 2-3 years if your company has no chance for the kind of approval you are desiring.
A Credit Preview that is standard simply requires the following:
1) Credit Application – should be completely filled out, legible and be certain to sign
3) Vendor Quote or Suggestion detailing how much gear, labor, etc. is involved. The underwriter would like to observe how much “soft” costs like work and consultation is part of the purchase compared to “hard” costs like equipment and machines.
That is all that is desired. The Credit Preview procedure will give a much better evaluation than those on-line “quickie” financing credit reviews which just checks your credit score; the preview assesses 8 distinct regions to get a true image of where you stand and how you can move forward. Despite having damaged credit, at least you will understand a number of your choices.
At PrimeProgressive.com we have more than 5 years experience as an authorized Finance Specialist and we helps small to midsize businesses let or fund a wide variety of equipment and particular projects nationally.