Be Sure to ask "Why" When Committing to a Business Loan
Updated: Jan 6
There is a difference between a "Consultant" and an "Uninformed Telemarketer".
When a Telemarketer Calls, Emails, Snail Mails or Texts you that your business is eligible for for funds or that you're "pre-approved", you should ask them these 4 questions:
1. Why am I eligible? THEY WILL MAKE UP SOMETHING HERE.
2. Are you familiar with the existing debt on our Balance Sheet? THEY ARE NOT.
3. Are you familiar with our Interim Financials? THEY ARE DEFINITELY NOT.
4. Go back to question #1- this time knowing that their interests are not aligned with yours
If a ‘Funding Advisor’ only asks you to send an Application with Bank Statements, Drivers License, and Voided Check, they are either not interested in helping you or not familiar with HOW to help you.
Real Commercial and Industrial Lending is based on earnings, credit, existing debt, business type, and, in many instances, collateral.
Don’t be fooled by something that sounds too good to be true. Our consultants are trained to look at files from a Bank's Perspective. We know the right questions to ask. A simple 15-minute conversation with one of our Consultants will let you know exactly what your company is eligible for and why.
BCCUSA : Know BEFORE you Borrow