BB Bookwork's Inc

Tag: Growth Financing

  • Turn Things Around With BB Bookwork’s

    Turn Things Around With BB Bookwork’s

    Hire us to Analyze, Strategize, and Build.

    Give us 10 days to help you turn your business circumstances upside down. To position your company to compete in the rapidly changing economic landscape.

    Our 10 Day Turnaround program is packed with benefits, features, and expert advice. Get started today with a free initial consultation.

    Why You Should Analyze Financial Data

    It is advisable that you review the financial data of your business prior to seeking financing. Not being prepared can cost you money, time, and reputation. Analyzing financial data ahead of time can help you target the right programs. Programs that you qualify for.

    We help you analyze business bank statements, financial statements, and tax returns. These are used to determine how a lender or other interest party will view your business. What kind of risk rating they will place on your business.

    BB Bookwork's

    Having a Strategy is Essential

    Just like the term “Cash is King”, “Strategy is Essential” is an important thought process. Having a strategy is vital to reaching business objectives. During our 10 Day Turnaround, we help you build a strong strategy. One that delivers cohesion among all aspects of business operations.

    This includes the following:

    1. Improving Cash Flow
    2. Targeting Business Rating Scores
    3. Eliminating Lender “Red Flags”

    Hire us to help you build an excellent strategy.

    Turn Things Around with Action

    The best way to turn things around and achieve better results is to take action. Not a random pursuit of improvement, but a focused journey toward recovery. Build a stronger business. Achieve even more than you could ever imagine. Win!

    We help you identify a path and encourage you to act. To follow an Action Plan to achieve better results when seeking growth financing. There is also a strong emphasis on adding valuable resources, connections, and technology. 


  • Understanding FICO Business Scoring Service

    Understanding FICO Business Scoring Service

    Many small business owners do not even have a good grasp on business credit scoring, never mind understanding how FICO Business Scoring Service scores impact their chances of being approved for a Small Business Administration loan program.  A FICO SBSS credit score was designed for small businesses in the United States.  United States Banks, business credit card issuers, and others most likely use this score during the decision-making process.  The SBA requires lenders to use this score to pre-screen borrowers for some SBA loan programs. Understanding FICO Business Scoring is important.

    How Doe’s FICO SBSS Scoring Work?

    The FICO SBSS score ranges between 0 to 300. A higher score indicates lower risk. Aim as high as you can. This will benefit your business.  SBA Small Loans require the lender to prescreen the application using a FICO SBSS score. The current minimum SBSS score for 7(a) Small Loans is 155. Some banks look for a score of 160 or better.

    Review of FICO SBSS

    Understanding FICO Business Scoring Service. Learning important business credit score facts:

    • FICO SBSS rank-orders small businesses by their likelihood of making timely payments. The FICO score range is 0 to 300.
    • The minimum score to pass the mandatory prescreen for 7(a) Small Loans is 155. (Most SBA lenders set their minimum score at 160-165).
    • The score can be calculated based upon personal and business credit history and other financial information. A strong history of business credit with timely payments to vendors and suppliers may help boost your SBSS score.
    • Because businesses are not covered by Fair Credit Reporting Act protections, you can be denied business financing due to your SBSS score, and lenders are not required to notify you the score was used or provide access to your score.

    Best Way to Build Company FICO Score‘s

    Our firm specializes in assisting small business with building corporate credit scores with FICO SBSS, Equifax Small Business, Experian Business, and Dun & Bradstreet. These business bureaus are tops in the world. They are used by suppliers, lenders, banks, and other businesses to evaluate the reputation of your business. It is more improtant than ever to focus on understanding FICO Business Scoring in an effective way.

    We suggest that you develop a group of suppliers, business retail, and other commercial groups that offer terms and report to these bureaus. Not every provider reports. It is key to use providers that report to these bureaus. 

    Some “easy to be approved” suppliers are Grainger, Uline, and Quill. You need to have at least four active trade-lines reporting these bureaus to generate business credit scores. It is best to add 6-7 trade accounts. This will bolster your image with larger providers.