Most credit applications are now done online and with AI underwriting. A cursory review of your business name could place you in a high-risk industry and get you an instant credit denial. You don’t want a business name that indicates a high-risk industry (like real estate investing or money lending) . You want generic lender friendly names such as “ABC Enterprises”, “ABC Solutions”, ABC Holdings”, or ABC Ventures”. Nothing that indicates any particular industry, especially a high-risk one. If you already have formed a business (LLC or Corporation) with a high-risk industry designation name you can try creating a “DBA” (doing business as) and use that name on credit applications. Use your EIN number for the LLC or Corp and use the DBA name on the application. Both are filed and will show up on the Secretary of States website or Department of Corporations website depending on what state you are domiciled in. https://www.secstates.com/ Example: corporate name = “ABC Real Estate Investments”. Create a DBA name like “ABC Enterprises or ABC Holdings”. If a DBA name won’t work, I suggest starting a whole new LLC. Don’t be caught with a high-risk industry indicated in your business name. Note: Not all lenders find the same industries as high-risk or unacceptable. It varies from lender to lender. Certain alternative finance lenders actually cater to high-risk industries. Of course, their funding options will come at a premium cost. Do you have a high-risk business name? (See attachment).

If you go to the bank and ask to get cash off your credit card, they will charge you a “cash advance” rate. Cash advances have extreme rates as high as 30% - 40%. Typically, at least 10% more than the cards current APR. On top of the high rates, you can only typically obtain less than a third of the total credit line as cash. Why do banks do this? Well, back a long time ago when credit cards were young, there were some people that took out their entire credit lines as cash and filed bankruptcy. They didn’t care. Credit cards are unsecured. The banks can’t repo what you bought or seek your cash advances. So, they quickly caught on and limited the amount you can take as cash and now charge a premium to do so. What if you need cash to take advantage of an opportunity where the only access to cash you have is your credit cards? For those that need to pull cash off their cards, here are a couple of options for you to obtain cash from your credit cards at the current APR of your card (even if it’s at 0%). Plastiq https://www.plastiq.com/ Plastiq gives you the flexibility to pay by credit card — even when your vendors don't accept them. Plastiq sends your payments to your vendor as a domestic or international wire, same-day ACH transfer, or overnight check — however you choose, all in one place. While having a Plastiq account is free, the service charges the payer the following fees: Credit card and debit card payments: 2.9 percent. Bank-to-bank ACH transfers or EFTs: $0.99. Wire transfers: $8.99 for U.S. domestic, $39 for international. Various card issuers and payment networks have imposed some restrictions on Plastiq. For example, you can use Plastiq to pay your mortgage with Mastercard or Discover, but not with Amex or Visa. Overall, Mastercard & Discover are the least restrictive followed by business Visa cards. Melio https://meliopayments.com/b/ Melio is a business-to-business (B2B) payment platform that simplifies how small businesses handle their accounts payable. It allows businesses to pay vendors and suppliers, even those who don't accept credit cards, using a variety of payment methods. Melio sends your payments to your vendor as a domestic or international wire, same-day ACH transfer, or overnight check, however you choose, all in one place.

Full those seeking business funding, there are basically three major types of lenders. Collateral-based, revenue-based, and credit-based. Let’s review their differences and some lending criteria for each. This is meant to be a cursory review not an in-depth overview. Choosing the right type of funding is critical. Collateral-Based Also known as asset-based lending. This refers to valuable assets owned by the borrower that are used as security for the loan. Common examples include real estate (like mortgage notes), equipment, inventory, and accounts receivable. Secured loans offer the best rates as the risk is obviously lower than unsecured loans. The collateral itself has intrinsic value. Some little-known uncommon examples of asset-based lending are appraised artwork, appraised coins & card collections, and exotic cars. Lenders will provide a portion (they determine risk) of the value of the asset as a secured loan. Meaning if you have an exotic car worth $300,000, you will not be offered a $300,000 loan. You will receive a portion of its value in the form of a loan determined by the lender. For the uncommon examples the collateral is often held in a secured facility until the loan has been repaid fully. Revenue-Based Revenue-based lenders provide funding to companies in exchange for a percentage of their future revenue. This means the repayment amount (usually daily or weekly) may fluctuate with the borrower's sales, making it a flexible option for businesses, especially those with fluctuating revenue streams. But today, many revenue lenders offer fixed based amortized loans as well. Generally speaking, you don’t need good personal credit (500+). Your credit lines are based solely on revenue. Less than $15,000 per month revenue usually generates offers of 25%-75% of your average monthly revenue as a short-term loan (4-months to 12-months). $15,000 per month revenue or more usually generates offers of 100%-200% of your average monthly revenue as a short-term loan (4-months to 12-months). Some lenders require as little as 4-months in business. Revenue-based loans use factor rates (1.18-1.65), not interest rates.

Right now, your funding profile’s barely breathing, when it should be screaming “approve me now.” If lenders keep closing the curtain, that’s not failure, it’s just feedback. Lenders are running new diagnostics: AI scans, risk sensors, pattern trackers, and if your data looks outdated, they pull the plug fast. But you don’t need to recreate from scratch. It’s time to resuscitate your profile. Here’s the treatment I give clients when approvals stop coming through: Find the heartbeat! What’s still working? Revenue, consistency, cash flow. That’s your leverage. Clean the bloodline! Remove toxic accounts, mismatched info, high utilization. Keep it flowing smooth. Rebuild the structure! Make your paper trail look alive and fundable, not fractured. Revive your mindset! Think like capital already runs through your veins, because confidence funds faster than credit. You’re not starting over. You’re reviving what’s already powerful. Comment “FUNDING” if you’re ready to bring your profile back to life.

Do you know what your business looks in a simple online search? Is your business easily found in an online search? It better or that is a RED flag to lenders. Is all the information you see congruent? You want to have accurate and congruent business information starting from the Secretary of State website, your website, business bureau files, and on online directories. You want to use that same information on all credit applications. Do you know what business address the Secretary of State has for your business? Check here: https://www.secstates.com/ Is this the address you are placing on credit applications? Is this the address business bureaus like Dun & Bradstreet have for you? Is this the address you use on your website and marketing pieces? It is vitally important to be easily found and have all the information the same. You don’t want to confuse lenders that are verifying the business information you place on your credit application. Make sure you are “funding” compliant.