This page contains affiliate links to Fundwise Capital. If a user clicks the link  to Fundwise Capital, the owner of this website may receive a commission, at no cost to the user. Learn more.

Picture of a cartoon hand filling out a paper on a clipboard that is titled loan application

Getting any type of small business loan in Buffalo will always require a good credit score. Many people take this to mean that personal credit score must be in good standing to acquire any sort of loan. While that is a very helpful factor, it is not the only score that matters. Businesses themselves have credit scores as well. Every time you, as a business owner, run up a cost in the name of the business or pay a vender, you are affecting this score. Over time, as your company establishes itself and does business with customers and suppliers alike, its credit score will rise. (By the way, are you a supplier yourself, working with other businesses? Check out your great opportunities here!) Even businesses that experience down times can still have quite a high score.

Business funding is a more traditional option that Fundwise Capital can help you obtain. Your business must have been operational for the past 6 months. Generally, the higher the amount of profit the company produces, the better, but at least $15,000 a month is a good starting place. Because of these regulations, this may not be the best option for those who are just starting up. These term loans or business lines of credit are given in the name of the business itself. The first loans can be more expensive but in the long run, get better options. With more payment history, these loans can be quite competitive. Funding is available up to $500,000.

One factor that can negatively affect approval is credit card usage. Credit cards offer an easy way to meet costs when the business does not have enough revenue but needs certain things in order to keep producing. Plus they can give great rewards to make the money go further. Because of these benefits, almost all business owners run up some credit card debt. Many of us are hardwired into thinking this is fine, as long as minimum payments are met within the required time. Indeed, racking up debt and paying it off is a great way to build a credit score. However, when pursuing larger funds, credit card debt can get in the way. Cards that are used at 30% of the limit or maxed out lower credit score.

There is a fairly easy option to correct this. Using a bridge loan can transfer the debt off the credit card. Now the applicant looks a lot more appealing to the credit bureau and a higher score can be obtained. Without the weight of the credit card weighing down the score, more options open up.

Business funding is an excellent source for small business loans, but Fundwise Capital can negotiate on many fronts for the largest loan amounts possible. Besides business loans, you may still be eligible for some creative solutions. Especially if personal credit score can be built up at all, there are options for no interest business loans as well as personal lines of credit or personal term loans. Fundwise Capital even has a great knowledge base for other options. There are some credit cards that exist with 0% interest for several months. Fundwise Capital knows where to look for these cards, and the correct way to apply for loans so that an applicant will qualify for as many as possible. There is no limit to how many of these you can apply for. Fundwise Capital will take care of all the appropriate paper work and put your applications in front of the right people.

Fundwise Capital has access to a large network of lenders that are eager for the business. Their system automatically pushes applications through in several places and they can also choose which places are mostly likely to provide the best options, based on your needs. The team at Fundwise Capital negotiates with lenders on behalf of the business owner. One of the best benefits of this is at with several lenders involved, the applicant has much more leverage. This is an opportunity that is hard to duplicate yourself.

Fundwise Capital is focused on helping business owners no matter their situation get the best loans possible. There are a lot of options and opportunities available, but for the average person, finding them is tricky. It would require a lot of invested time, knowing who to speak to, and knowing what deals are available in order to provide the best leverage while negotiating. The team at Fundwise Capital is experienced even at turning some initial “no’s” into “yes.” If you have a good credit score, or suspect your business might, you have nothing to lose. After a quick 9-part questionnaire, you can be on your way to acquiring the funds you need for your business. Credit score is checked, but this is a soft pull that does not affect the score itself. Apply today and see what Fundwise Capital has in store for you. After your application, a team member at Fundwise Capital will reach out with a no obligation phone call to discuss your options moving forward. Apply now, you are one step closer to your dreams.

Picture of a hand writing the word Approved! in neon green and circling it
Picture of stacks of 100 dollar bills