Did you know that if you are trying to apply for a business loan , that you may be getting denied because you aren’t generating enough money in your business? Banks have a rating system to determine who will be approved or denied. They rate your business based on your average daily balance over 90 days. Here’s how those bank ratings break down: High 5 Rating: $70,000 to $99,999 Mid 5 Rating: $40,000 to $69,999 Low 5 Rating: $10,000 to $39,999 High 4 Rating: $7,000 to $9,999 Mid 4 Rating: $4,000 to $6,999 Low 4 Rating: $1,000 to $3,999 The rule of thumb is that businesses in the Low 5- High 5 Ratings has the highest chance of getting funding from a bank, because they show financial stability. Unlike your personal credit score, you can get denied with a good business credit score, because banks are more interested that you can make you and them money, than just having a “clean record”. With this new information, here’s your homework over the weekend: 1. Calculate how much money you’ve earned over the last 90 days. 2. Look at the ratings and see how your business rate. 3. Determine how you are going to increase your revenue: Increase your price, get new customers/clients (how many do you need?), add another source of income, etc. 4. Write the timeframe that you plan to achieve your new business rating. 5. Execute! Until next time, Willita

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Comment what your business is and who you serve in the comments 👇🏽

Here is a gift I created for all of you, especially if you've mixed your personal and business funds. This guide will help you separate them and explain how to legally reimburse your personal money from your business once it starts generating enough revenue. Don't freak out when you see the initial page, it's just verifying that you are human. It'll take you to the landing page afterwards. https://lp.constantcontactpages.com/sl/iophz3k/comingledfunds P.S. Be sure to invite 7 business friends to the group. The more people we have, the more people I can help, and the bigger your network will become 😊