Tag Archives: Funding

Credit Card Builders Passes $88 Million in Funding for Small Business Clients

Spring Hill, Florida (PRWEB) April 21, 2015

Today Credit Card Builders announced that the wave of credit easing in 2014 continues to spur significant growth – helping the Company to surpass $ 88M in funding for their clients.

According to Fortune, business loans rose $ 42 billion in the fourth quarter of 2014, and credit card lending rose $ 35 billion. In contrast, mortgages rose just $ 6 billion.

Credit Card Builders helps small businesses and real estate investors get significant funding (up to $ 250,000 and more) at zero percent interest via creative credit card financing. For businesses and investors who only need financing for a year or two, intelligent credit card borrowing can be more cost effective than even a mortgage.

Ever since the current economic outlook improved and the market eased up, banks have looked for various ways to increase their earnings. Banks and federal associations are more liberal in their approach to risk, and always need to find ways to generate more business. The result is that some avenues of acquiring financing are now easier than ever.

One of the easiest, and if done correctly, least expensive, ways to get financing is via credit cards. While many credit card companies still charge tremendous interest rates, there are thousands of credit card offers at favorable rates for small businesses.

In fact, when the Office of the Comptroller of the Currency released their 19th annual “Survey of Credit Underwriting Practices,” they reported that among all loan products, credit cards had the greatest easing of underwriting standards.

Zero interest loans make sense for banks. For one thing, banks themselves can borrow at historic lows (they borrow at near zero percent from the Federal Reserve), so they have access to lots of capital. Add to this the notion that banks have a lot of ways to make money, and it starts to make sense.

Banks want to have relationships with small businesses and investors. If they already have a relationship, they want to surround that relationship with services to keep them from going to the competition. So, providing clients with great credit card offers costs them very little, and allows them to further develop those relationships.

Although many zero percent interest terms appear to be capped, according to Ari Page, CEO of Credit Card Builders, if you know what you’re doing, that’s not the case.

“Banks hope you’re not savvy enough to realize that if you know who to talk to and what to say, you can keep rolling over zero interest introductory offers into the foreseeable future,” he said.

According to Mr. Page, the following are some actions small businesses and investors can take to capitalize on low- and zero-interest credit cards.

1. If you don’t have a business entity, get one. It’s easy to acquire and anyone can do it. You want to be smart about it, as some entities are far more lendable than others. For example, having Marketing/Advertising or Business Management in your business name, indicates you are (on average) a better risk than someone with Real Estate in their title. There are also important nuances in terms of what type of entity you set up.

2. Know how to elucidate what your business does. If you’re stuttering, stammering or seem unsure of your business, don’t expect the bank to lend to you.

3. If you have personal credit issues, get them cleaned up. There are many agencies, such as Kaydem Credit Help, that can assist you.

4. Search the web for credit card offers for businesses.

5. Do your homework to sort through various offers, identifying any hidden fees.

6. Explore existing relationships and see what they’re willing to do. I once went to my bank to open a checking account and was offered a $ 17,000 credit card for being a loyal customer.

7. Consider requesting line increases or exploring promotional rates for those cards that you already have. Many banks won’t hesitate to reward good customers with increased credit lines.

Last June, Credit Card Builders announced a new funding program to make their business credit services more accessible to a wider array of qualified small businesses. Their Performance-Based Funding program allows qualified clients to defer payment until credit is received. With this option, there are no up-front fees, and borrowers can instead, opt to pay a percentage of the credit received.

Asked about his company’s success, Mr. Page said, “If you need significant dollars – $ 50-100K and beyond, you really need to know what you’re doing. Having created strategies and built relationships with leading lending institutions for eight years, we know the opportunities and the potholes along the road.

“Inexperienced borrowers do not realize how to pursue large amounts of credit without shooting themselves in the foot,” he added. “They can spend a lot of time trying to do this on their own and wind up negatively affecting their personal credit, applying for smaller cards that will lock them out of getting better deals, using strategies that will flag them as too risky, or incurring sneaky annual fees (we’ve seen them as large as $ 500) and/or high balance transfer rates. Another negative outcome is to be approved for a business card and only realize after the fact that the card will be reporting to your personal credit.

“Using a company like Credit Card Builders, where we hold your hand every step of the way, virtually guarantees that you’ll get the most possible credit for your business. Savvy executives know when to use their special skills for maximum gain, and when to outsource to the experts. These are the individuals who will be successful acquiring credit in our programs.

“As the economy improves and lending continues to increase, it’s even more imperative for business owners to know how to discern their options. We’re here to help so small business owners can do what they’re best at – making money.”

About Credit Card Builders: Founded in 2007, Credit Card Builders was created as an alternative to high interest lending. Through its relationships with some of the nation’s largest credit lenders, Credit Card Builders helps small businesses and real estate investors get up to $ 250,000 in funding with little or no interest.

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Asset based lending companies have come a long way baby! Seriously though, business funding has dramatically changed in Canada – it was always a challenge – 2008 Global implosion happened, and guess what, business financing is more challenging than ever. Every Canadian business owner and financial manager for companies of all size and industry knows that.

We’re all heard that when the going gets tough the tough get … well you know what we mean. So business financing via asset based lending was slowly becoming more popular in Canada (It’s huge in the United States) and has become, can we say ‘ ultra popular’ in our current time.

Asset based lending as new as it is in Canada certainly can’t really be called ‘ innovative ‘- it simply focuses on, guess what ‘ assets ‘! It is essentially a great financing solution for companies that are normal, distressed, leveraged, experiencing high growth, etc.

The problem we have with the term asset based lending or asset based finance is simply that it is a bit of a catch all when it comes to being used or explained to business owners. We define this type of business funding as revolving lines of credit based on asset quality, receivable discounting, inventory and trade financing, which sometimes can actually include purchase orders or contracts.

The reality is that this type of financing can be customized to every industry for companies of all size, although typically we tell clients that the facility works best on transactions of 250k+.

Asset based lending companies can help you manage and grow your business, with the focus on ‘ grow’,

The biggest mis understanding around asset based lending is that typically it is not done via a bank; it is managed through private independent finance firms that are very experienced in asset valuation and funding. Their experience allows them to take a look at your financeable assets and maximize what is known as an ongoing ‘ borrowing base’ for those assets. Typically we are talking about receivables, inventory, equipment, and as we noted, in some cases purchase orders and contracts.

The benefits of working with asset based lending companies are that it is a fast, innovative method of financing your company that is not focused around the requirements that a Canadian chartered bank would typically impose. We can honestly tell clients we have never seen an asset based line of credit not deliver on significantly more financing that the customer would have ever achieved with a bank revolver.

So what’s the bottom line – simply that by investigating this method of business funding you potentially have the ability to enhance your overall business financing for growth and success. Speak to a trusted, credible and experienced business financing advisor who can put you on track to better business financing! That’s a good thing.

Stan Prokop is founder 7 Park Avenue Financial ; Originating financing for Canadian companies,specializing: working capital, cash flow, and asset based financing , the 6 year old firm has completed in excess of 45 Million $ of financing for companies . For info / free consultation on Canadian business financing / contact details see:

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