You won’t find “Fundability” on Dictionary.com, so don’t bother looking. Fundability is a phrase we’ve coined to describe how a business measures up in relation to the entire business lending and investing community.
All joking aside, how “Fundable” is your business?
Fundability is not just about your credit. It includes several components that determine how your overall business is seen by lenders, investors, insurers, suppliers, and more. Basically, we know that your business was worth the risk for you, but is it worth the risk for them?
The answer will increasingly be “yes” as your fundability grows. So by improving the fundability of your business, our proprietary system is doing more than just helping you build strong business credit. We are improving the overall “health” of your business while greatly increasing your ability to succeed now and in the future.
The major components that determine your business’ “Fundability” are:
• Business Credit Bureau Scores
• Business assets
• Business revenue (Income)
• The owners credit history
Most companies have one or all of the components listed above, which means there is available funding for most small businesses. Obviously, the more components a business has, the more financing options become available. Also, the stronger and more established a company is in each category, the more likely it will qualify for better rates and terms on the capital secured as well.
So now that you understand the key factors that determine your start-up’s “Fundability”, we’ll explore how to decide which funding options are best based on your overall business goals when we meet again…until next time!
Leo Kanell is a serial entrepreneur having successfully run multi-million dollar businesses in diverse businesses from import/export to online selling/marketing to Business Credit and Funding. Most recently he has built a business that finds solutions for business owners with a focus on securing money for business owners and helping to establish their business credit. He is on a mission to help business owners use business credit and not their personal credit.
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Great post Leo ! It's really important to know how fundable is the business . I would add one more small thing to fundability , which is "business staff" I think without it it would be really hard to achive any income and etc...Your post worth sharing!