As a 501(c)(3) non-profit, we have received grant funding to assist small businesses in accessing capital. This is accomplished in two steps:
Why is this important? If a small business applicant meets the underwriting criteria, then they have a VERY high probability of accessing capital to start or grow. For example, low interest SBA loans up to $150,000 are now fairly accessible and normally fund in ~15 days with very reasonable requirements, i.e., a 165 FICO SBSS score. Still yet, without assistance, very few small businesses are successful in accessing this low cost source of capital.
CAPITAL READY PACKAGE COMPONENTS
Based on the agreed upon source of capital being pursued, BCLI will assist the client with the following five essential elements for funding approval:
*Business credit optimization refers to building a credible PAYDEX and IntelliScore ratings. We will provide guidance and direction as to how to accomplish this.
**Personal credit optimization refers to adding positive and removing negative items to build credible personal credit scores. We will provide guidance and direction as to how to accomplish this.
All participants of the Capital Ready Package Program are guaranteed at least $100,000 in funding and we will continue to assist you until that goal is reached. The length of time to access funding is based upon you--not us--including your starting point, your selected type(s) of capital, your compliance with the process, etc. Our lending partners continue to report an average of only ~15 days for funding on the aforementioned SBA loans up to $150,000 with low interest and ten year repayment terms.
NO COST PROGRAM
BCLI has received grant funding to provide the Capital Ready Package at no cost to the client. However, a refundable deposit (can be financed so $0 out of pocket) must be submitted upon enrollment and is refunded upon reaching the grant's minimum goal of $100,000 in funding. The amount of the refundable deposit is dependent upon how much work you need assistance with to become "capital ready" (underwriting compliant).
Please recognize, participants in the Capital Ready Package Program WILL have ancillary costs associated with becoming "Capital Ready" that are not included in the refundable deposit. For example, all businesses must file annual tax returns. BCLI does not provide this service nor is the cost of annual tax preparation included in this package.