#cdfi

[latinolibre]

🎙#92 | 🆕 ¡UNA NUEVA TEMPORADA DE LATINO LIBRE USA! JUAN MESA 👨🏻🇨🇴: Juan Meza, colombiano, periodista, actual gerente de comunicaciones comunitarias de la organización Mission Economic Developement Agency (MEDA), situada en San Francisco, dedicada a programas de desarrollo de negocios, una institución financiera comunitaria, (CDFI), donde dan acceso a capital, a inmigrantes que a través de bancos tradicionales no podrían tener acceso a ese capital, para poder emprender su negocio. 𝗘𝗦𝗧𝗘 𝗘𝗣𝗜𝗦𝗢𝗗𝗜𝗢 👉 https://www.hispanicsolutionsgroup.com/episodio-nuevo/ep-92-juan-mesa-porque-la-comunidad-latina-viene-a-este-pais-a-trabajar-trabaja-mucho-trabaja-muy-duro-y-no-tiene-acceso-a-los-recursos-que-tienen-las-personas-con-documentos/

[dweemeister]

Best Documentary Short Film Nominees for the 96th Academy Awards (2024, listed in order of appearance in the shorts package)

This blog, since 2013, has been the site of my write-ups to the Oscar-nominated short film packages – a personal tradition for myself and for this blog. This omnibus write-up goes with my thanks to the Regency South Coast Village in Santa Ana, California for providing all three Oscar-nominated short film packages. 

If you are an American or Canadian resident interested in supporting the short film filmmakers in theaters (and you should, as very few of those who work in short films are as affluent as your big-name directors and actors), check your local participating theaters here.

Without further ado, here are the nominees for the Best Documentary Short Film at this year’s Oscars. The write-ups for the Live Action and Animated Short categories are coming soon. Non-American films predominantly in a language other than English are listed with their nation(s) of origin.

Năi Nai & Wài Pó (2023)

Rarely do both sides of one’s family ever meet. You might expect them to mingle at weddings and funerals. But cohabitation? Such is the case with Taiwanese American director Sean Wang’s two grandmothers in Năi Nai & Wài Pó (paternal and maternal grandmother, respectively), available worldwide on Disney+ and Hulu. Wishing to live closer to family, Wang moved in with his grandmothers Yi Yan Fuei (Năi Nai) and Chang Li Hua (Wài Pó) in their California household during the height of the COVID-19 pandemic. His grandmothers rarely leave the house, even for groceries, and keep their heavy curtains drawn at all hours. As thin beams of sunlight barely stream through the interior’s earthy colors, both grandmothers continue to read the newspaper, sing traditional Chinese music, do their own cooking (I assume someone drops off groceries for them), tease each other about farting in bed, and reflect on their families and their pasts. They know that there are fewer tomorrows remaining, but that will not stop them from living joyously and with love for their grandson, who, though off-screen, they converse with throughout the shoot.

Qualifying for the Academy Awards by wining Best Documentary Short at SXSW in 2023 (in addition to the equivalent prize at AFI Fest), Năi Nai & Wài Pó freely admits that its subjects are playing up their act for their grandson. Observational cinema this is not. But in their sense of exaggerated play there exists a twofold acknowledgement. First, as Năi Nai states, “the days we spend feeling pain and the days we spend feeling joy are the same days spent. So, I’m going to choose joy.” And perhaps most meaningfully to Wang, their playing for the camera is one of many ways they express their love for their grandson. It is an elevated home video, a loving portrait, and a reminder to cherish those who loved us into being.

My rating: 7.5/10

The Barber of Little Rock (2023)

People Trust in Little Rock, Arkansas is a Community Development Financial Institution (CDFI). In other words, it is a non-profit – partially funded by the American federal government – to address issues in creating economic growth and opportunities in some of the most underserved communities in the nation through loans, emergency financial assistance, and housing subsidies. People Trust and its President, Arlo Washington, are the subjects of The Barber of Little Rock (available for free online through The New Yorker), directed by John Hoffman (2021’s Fauci) and Christine Turner (2021’s Lynching Postcards: 'Token of A Great Day'). The film, Oscar-qualified by winning the Grand Prize for Documentary Short at Indy Shorts International Film Festival (Indiana), requires a wealth of context to the issues that it raises, but does not always provide enough – especially how municipal, state, and regional history impacts racism in banking, and vice versa.

Arlo Washington is a fascinating, wonderfully-intentioned person, but the movie spends too much time with him directly stating the piece’s thesis about financial equality and generational poverty to the camera. Most compelling of all were some of the individual appointments at People Trust of regular people simply looking for financial relief or a loan to kickstart a business or make their rent payments. So too Washington's barbering training school – especially a scene when two students are asked to look intently at the other’s faces, to understand the other’s struggles simply through quiet observation. Arlo Washington figures in many of these scenes as well, and those scenes reveal as much, if not more, about the lives of People Trust’s clients than any of his brief lectures can accomplish. Hoffman and Turner clearly had deeply cinematic material to work with that could empower their messaging, and it is a shame they are unable to fully utilize it.

My rating: 7/10

Island in Between (2023, Taiwan)

Ten kilometers away from the Chinese city of Xiamen lies Kinmen, a group of islands under control of Taiwan (the island of Taiwan is 187 kilometers away). Directed and narrated by S. Leo Chiang and distributed by The New York Times, Island in Between is Chiang’s meditation on not only Kinmen’s precarious geography and its political status, but his own identity of being American, Chinese, and Taiwanese – three separate identities that interconnect, but are forever distinct. Like many viewers, I was unaware of Kinmen’s existence before viewing Island in Between. This film is most valuable in introducing audiences to a place in some ways frozen in the mid-twentieth century, not so much capturing the spirit of the place and understanding its history.

During visits to mainland China in the late 2000s, Chiang, Taiwanese-born and American-raised, was struck by how vibrant the mainland was – something unrecognizable from “the communist wasteland [he] learned about in school.” In the years since, the crackdown on Hong Kong’s democracy, the COVID-19 pandemic, and increased political tensions between China and Taiwan have complicated his feelings towards the mainland. As a Vietnamese American, I easily saw parallels between how the younger diaspora views our so-called “motherland”, what we are taught, and how older generations perceive their original home. Even among generations, there are divisions in how we feel about the motherland. But Chiang has the additional complication of being caught between three nations important to his being. If anything, his mentions about his parents and their views feels far too cursory, as they are the ones most responsible for shaping his views about American/Chinese/Taiwanese tensions. One hopes this film is not a harbinger of things to come, as beached tanks rust on the placid Kinmen shore.

My rating: 7/10

The ABCs of Book Banning (2023)

As of the publication of this omnibus write-up, bans and challenges to books in libraries and schools have spiked since 2021. These book challenges, often taken up by parents and certain religious organizations, have disproportionately targeted books by and/or about LGBTQ+ and non-white (especially black) people. Stepping into the debate is MTV Documentary Films’ The ABCs of Book Banning (available on Paramount+), directed by Sheila Nevins, Trish Adlesic, and Nazenet Habtezgh. Unfortunately, the film advocates against book challenges in the most stultifyingly artless way. Early on, a title card reveals that the filmmakers will ask about book banning and restrictions from a group that we have heard little from: children. An honorable approach, but the interview snippets found in The ABCs of Book Banning are repetitive and seem rehearsed – children, aghast at the notion that a selected book is a target, offer reasons why book banning is a terrible idea. Nothing Americans have not heard before. Breaking up their interviews are images of book covers, followed by a brief quotation from said book, and an amateurish “BANNED” or “CHALLENGED” banner in red over the book. Sometimes, cheap animation depicting that book’s passage appears; the placement of these animated sequences has no rhyme or reason.

Damningly, this is a film in search of a structure. A handful of authors whose books have been banned from libraries or schools show up to introduce themselves over what appears to be an interview over Zoom. They say a few sentences about why book banning is terrible and we never hear from them again in the film – a complete waste. I suspect these authors recorded longer interviews, but there is almost nothing that remains of those interviews in the final product. This is a film for those who agree with its premise, have no cinematic taste, and are tediously self-satisfied in how they express their political views.

My rating: 4/10

The Last Repair Shop (2023)

The Los Angeles Unified School District (LAUSD) is the last major city school district in the United States to offer free musical instrument repair to its students. From the Los Angeles Times and Searchlight Pictures comes Ben Proudfoot and Kris Bowers’ The Last Repair Shop (also available on Disney+ and Hulu), which takes us to LAUSD’s repair shop. Just short of the 40-minute limit for short films, The Last Repair Shop curiously tells the viewer preciously little about the shop itself (what are the challenges it is facing, and why is the last of its kind?). Proudfoot and Bowers – both previously nominated in this category for A Concerto Is a Conversation (2021; also available online thanks to The New York Times) – adopt much of the same style as their previous nominee. Both films share talking heads in shallow focus and snappy editing. These aspects sometimes made A Concerto Is a Conversation incohesive, but they work immensely better for The Last Repair Shop. It also helps that The Last Repair Shop, which slowly reveals itself to also be a portrait of a rarely-seen side to L.A., has a clear structure that the viewer can discern early on.

What carries The Last Repair Shop are the life-affirming conversations we have with the four principal interview subjects, all of whom work in a different department at the shop – Dana Atkinson (strings), Paty Moreno (brass), Duane Michaels (woodwinds), and Steve Bagmanyan (pianos; also the shop supervisor, and who inspired the film as he tuned pianos at Bowers’ high school). Whether they play an instrument or not, all four recognize music’s ability to better understand ourselves and others, and as “one of the best things that humans do.” The addition of student voices to the film – especially when one realizes that the repair shop employees almost never hear back from the children whose instruments they repair – strengthens a connection, however distant, through music. The Last Repair Shop’s final minutes provide it that final cinematic touch you might have anticipated, an affirmation of why those who speak the language of music hold it so dear.

My rating: 8.5/10

^ Based on my personal imdb rating. My interpretation of that ratings system can be found in the “Ratings system” page on my blog. Half-points are always rounded down.

From previous years: 88th Academy Awards (2016) 89th (2017) 90th (2018) 91st (2019) 92nd (2020) 93rd (2021) 94th (2022) 95th (2023)

For more of my reviews tagged “My Movie Odyssey”, check out the tag of the same name on my blog.

[animatedaf]

Here's a new piece of animation I made for Responsible Finance with Deadline Communications about CDFIs! Check out the full film below!

[onlinebusinesslineofcredit]

Loans For Self Employed No Credit Check - Boost Your Business

As a self-employed individual seeking loans without credit checks, you'll face significant challenges.  Traditional lenders often require strong credit histories, making it difficult to secure financing. Nevertheless, alternative options exist, such as online lenders, peer-to-peer platforms, and microloans, which may offer more flexible criteria. Focus on building your business credit and improving your financial profile rather than pursuing risky no-credit-check loans. Maintain detailed financial records, manage cash flow effectively, and consider secured loans if you have assets for leverage. By understanding the documentation requirements and demonstrating income stability, you'll increase your chances for approval. Exploring these strategies can open up more viable financing opportunities to secure. https://www.youtube.com/watch?v=5QLele6zRGM

Key Takeaways

- No-credit-check loans often involve predatory practices and high interest rates for self-employed individuals. - Online lenders and P2P platforms may offer more flexible criteria without traditional credit checks. - Microloans and CDFIs provide alternative financing options with less emphasis on credit scores. - Focus on improving your financial profile and building business credit instead of pursuing no-credit-check loans. - Consider secured loans or providing extensive financial documentation to offset the need for credit checks.

Challenges Self-Employed Individuals Face When Seeking Loans

Uncertainty often plagues self-employed individuals when they seek loans. Challenges include meeting stringent eligibility criteria for self-employed loans and providing a steady income. Lenders may use alternative credit assessment methods for evaluating creditworthiness. While financial assistance options exist, be cautious regarding potential predatory lending practices. Focus on improving your financial profile and exploring legitimate lending options rather than seeking no-credit-check loans, which can be risky.

Alternative Lending Options For Self-Employed With Limited Credit History

When exploring alternative lending options, you'll find that online lenders often have more flexible criteria for self-employed borrowers with limited credit history. Peer-to-peer lending platforms can connect you directly with individual investors who may be willing to fund your loan based on factors beyond traditional credit scores. For smaller financing needs, you might consider microloans or community development financial institutions, which typically focus on supporting local entrepreneurs and small businesses. Are You Eligible for a No Credit Check Loan? Online Lenders And Their Criteria Maneuvering the lending terrain as a self-employed individual with a limited credit history can be challenging, but online lenders have emerged as a viable substitute. These platforms often use alternative credit data to assess risk, offering more flexible eligibility criteria for self-employed individuals. While they don't provide "no credit check" loans, online loans for self-employed borrowers may require less traditional documentation, focusing instead on business performance and cash flow. Peer-to-peer Lending Platforms Emerging as a popular alternative for self-employed individuals with limited credit history, peer-to-peer (P2P) lending platforms connect borrowers directly with individual lenders. These platforms offer self-employed financing choices with potentially competitive rates. While not guaranteed, P2P lending can provide access to funds for those who may struggle with traditional lenders. To increase your chances, focus on improving your financial profile and presenting a solid business plan for potential lenders. Microloans And Community Development Financial Institutions For self-employed individuals with limited credit history, microloans and Community Development Financial Institutions (CDFIs) offer viable alternatives to traditional lending. These responsible lending practices cater to the financial needs of self-employed borrowers: - Microloans provide small-scale funding for startups and growth. - CDFIs focus on community economic development and financial inclusion. - Both options typically offer more flexible terms than traditional banks. These alternatives emphasize local economic impact and personalized financial support for self-employed entrepreneurs.

Building Business Credit As A Self-Employed Individual

As a self-employed individual, building business credit is essential for future financing opportunities. You'll need to start by separating your personal and business finances, then establish dedicated business credit accounts. Consistently making timely payments and managing your credit utilization will help you develop a strong business credit profile over time. Separating Personal And Business Finances A self-employed individual's financial success often hinges upon their ability to separate personal and business finances. This practice enhances financial clarity, simplifies tax preparation, and improves access to credit check business loans. When seeking self-employed loans, demonstrating clear proof from earnings becomes easier with distinct accounts. Financial resources for separating finances include: - Dedicated business checking account - Separate business credit card - Professional accounting software These tools help maintain a clear financial boundary, essential for both daily operations and future loan applications. Establishing Business Credit Accounts Building business credit as a self-employed individual starts with establishing dedicated business credit accounts. Open a business checking account and apply for a business credit card. Avoid seeking "loans for self employed no credit check" as these often involve predatory lending practices. Instead, focus on building relationships with credible partner lenders. Consider alternatives like invoice factoring or a freelance cash advance from reputable platforms to manage cash flow while establishing your business credit profile. Timely Payments And Credit Utilization Timely payments and proper credit utilization form the bedrock for building a strong business credit profile for self-employed individuals. Consistently meeting your monthly payments and maintaining a healthy credit utilization ratio are essential. To improve your customer experience and creditworthiness: - Establish a strict repayment schedule - Consider balance transfer options for managing debt - Avoid seeking self-employed loans without a credit check Focus on responsible financial management to strengthen your business credit standing.

Documentation Requirements For Self-Employed Loan Applicants

When applying for loans as a self-employed individual, you'll need to provide thorough documentation to prove your income and financial stability. You should be prepared to submit tax returns and profit & loss statements, which demonstrate your business's financial health over time. Furthermore, lenders may require bank statements, financial records, and copies of your business licenses and registrations to verify your operational status and legitimacy. Tax Returns And Profit & Loss Statements As a self-employed individual seeking a loan, you'll need to provide thorough documentation to prove your income and financial stability. Tax returns and profit & loss statements are essential for demonstrating your business revenue and financial health. While "self employed loans no credit check" may seem appealing, responsible lenders will always review your financial history. - Frustration with complex application processes - Relief when organizing financial documents - Anticipation of a smoother loan approval These documents streamline the application process and timeline, increasing your chances for loan approval. Bank Statements And Financial Records Bank statements and financial records serve as crucial evidence regarding your financial stability when applying for loans as a self-employed individual. Business lenders typically require at least 3-6 months' worth of bank statements to assess your cash flow and income consistency. As a self-employed borrower, you'll need to provide detailed financial records, including profit and loss statements, to demonstrate your ability to repay short-term loans or alternative financing options. Business Licenses And Registrations Beyond financial records, lenders also require proof regarding your business's legal status and operations. When applying for business loans, loans for entrepreneurs, or loans for freelancers, you'll need to provide: - Valid business license - Tax registration documents - Industry-specific certifications These documents demonstrate your legitimacy and compliance with regulations. While merchant cash advances and short-term loans can address urgent financial needs, they often have higher interest rates. Focus on improving your creditworthiness and exploring traditional lending options for better terms.

Strategies For Improving Creditworthiness

Improving your creditworthiness as a self-employed individual requires a multifaceted approach. You'll need to focus on maintaining a strong personal credit score through timely bill payments and responsible credit use. Furthermore, consistently reporting your income and building relationships with financial institutions can help establish your reliability and increase your chances for loan approval. Maintaining A Strong Personal Credit Score Maintaining a strong personal credit score is crucial for self-employed individuals seeking financing alternatives. A good credit score can lead to: - Quicker funding speed - Lower interest rates - More favorable repayment terms For self-employed loans, a strong credit score is a key benefit. This demonstrates your financial responsibility and increases your chances for approval. Regularly monitor your credit report, pay bills punctually, and keep credit utilization low to maintain a healthy score. Consistent Income Reporting Consistent income reporting plays a crucial role in enhancing your creditworthiness as a self-employed individual. Lenders assess your financial stability differently than traditional employees. Maintain accurate records of your income, including gig economy earnings, to demonstrate reliability. Such consistency aids when applying for various types of loans accessible, from short-term duration options to more substantial financing. Avoid instant cash loans online for self-employed offers, as reputable lenders always conduct credit checks. Building Relationships With Financial Institutions While consistent income reporting helps establish your financial reliability, building strong relationships with financial institutions can greatly enhance your creditworthiness as a self-employed individual. When seeking loans for your business, focus upon: - Maintaining regular communication with your bank - Demonstrating responsible financial management - Utilizing business banking services These practices improve your chances of securing traditional loans, rather than resorting towards quick loans or no credit check options, which often carry higher risks and costs.

Exploring SBA Loan Programs For Self-Employed Individuals

SBA loan programs offer valuable financing options for self-employed individuals seeking to grow their businesses. You'll find various SBA loan types, each with specific eligibility criteria customized for different business needs and stages of development. To apply, you'll need to prepare an extensive business plan, financial statements, and other required documentation, then work with an SBA-approved lender to submit your application. Overview Of SBA Loans Self-employed individuals looking to grow their businesses can turn toward Small Business Administration (SBA) loans as a viable financing option. These government-backed loans offer competitive terms and lower down payments compared with traditional bank loans. SBA loans come in various types, each designed for specific business needs. - Access to capital for expansion and growth - Flexible repayment terms customized for your business - Lower interest rates aimed at reducing overall borrowing costs SBA loans require a credit check and a thorough application process, ensuring responsible lending practices. Eligibility Criteria For Self-employed Borrowers Many self-employed individuals can qualify for SBA loans, but you'll need to meet specific eligibility criteria. You must operate a for-profit business in the U.S., have invested your own time and money, and exhausted other financing options. Your business should meet SBA size standards, and you'll need a good credit score and a solid business plan. Demonstrating sufficient cash flow to repay the loan is essential. Application Process And Requirements When applying for an SBA loan as a self-employed individual, you'll need to steer through a thorough application process. The Small Business Administration offers various loan programs customized for self-employed entrepreneurs. To increase your chances of approval, prepare the following: - A complete business plan - Detailed financial statements and projections - Personal and business tax returns for the past three years These documents demonstrate your business's viability and your ability to repay the loan.

The Role Of Business Plans In Securing Loans

A well-crafted business plan is vital when seeking financing for your self-employed venture. You'll need to include key components such as financial projections, market analysis, and a clear business strategy to demonstrate your venture's viability. Lenders will scrutinize your business plan to assess the potential risks and rewards from providing you with a loan, making this an important tool in your quest for funding. Key Components Of A Strong Business Plan Every strong business plan plays a vital role in securing loans for self-employed individuals. Key components include: - Executive summary - Market analysis - Financial projections Your business plan should clearly outline your company's structure, goals, and strategies. This demonstrates your understanding of the market and showcases your potential for success. Lenders use the document to assess your creditworthiness and ability to repay the loan, making it critical for securing financing. Financial Projections And Market Analysis Financial projections and market analysis form the backbone of a compelling business plan, crucial for securing loans as a self-employed individual. You'll need to provide detailed income forecasts, expense breakdowns, and cash flow projections. Include a thorough market analysis highlighting your target audience, competition, and growth potential. These elements demonstrate your business's viability and your ability to repay the loan, increasing your chances for approval from legitimate lenders. Only 16% of small businesses have between 1 and 19 employees, which equates to over 5.4 million businesses How Lenders Evaluate Business Plans Lenders scrutinize business plans as a crucial component in their loan evaluation process for self-employed individuals. They assess your business's viability, financial projections, and market potential. A well-crafted business plan demonstrates your: - Strategic thinking and industry knowledge - Ability to identify and mitigate risks - A clear path towards profitability and loan repayment Your business plan should include detailed financial forecasts, market analysis, and operational strategies. Such an extensive document helps lenders gauge your creditworthiness beyond traditional credit checks.

Traditional Banks Vs. Online Lenders For Self-Employed Borrowers

When considering financing choices as a self-employed borrower, you'll find significant differences between traditional banks and online lenders. You should compare interest rates, loan terms, approval processes, and timelines to determine which option best suits your needs. Online lenders often offer more flexibility in their lending criteria, which can be advantageous for self-employed individuals with non-traditional income documentation. Comparison Of Interest Rates And Terms Comparing interest rates and terms between traditional banks and online lenders is crucial for self-employed borrowers seeking the best financing choices. Consider these factors: - Annual Percentage Rate (APR) - Loan duration and repayment flexibility - Collateral requirements Traditional banks often offer lower rates but have stricter qualifications. Online lenders may provide quicker approval and more flexible terms, but potentially higher interest rates. Evaluate your financial situation and business needs to determine the most suitable option. Anita Campbell, CEO of Small Business Trends, advises: "Self-employed business owners should focus on building multiple income streams to create stability and hedge against market fluctuations." Approval Processes And Timelines Self-employed borrowers face two distinct approval processes when seeking loans from traditional banks versus Internet lenders. Traditional banks typically require extensive documentation, including tax returns, financial statements, and business plans. Such a process can take weeks or months. Online lenders often use automated underwriting systems, analyze bank statements and cash flow data. Their approval process is usually swifter, sometimes providing decisions within periods. Nonetheless, both types of lenders will still assess your creditworthiness. Read the full article

[subhambiswas287]

Unlocking Business Loan Eligibility: A Guide to Secure Financing

In today’s competitive market, securing a business loan can be a crucial step towards growth and sustainability. However, many entrepreneurs face challenges in meeting the eligibility criteria set by financial institutions. As a financial service specialist and content writer, I delve into effective strategies to enhance business loan eligibility.

Improve Credit Score: A strong credit score is vital for loan approval. Encourage timely payments, reduce credit utilization, and rectify any errors in credit reports.

Strengthen Financial Statements: Banks assess your financial health through balance sheets, income statements, and cash flow projections. Ensure accuracy and highlight positive trends.

Reduce Debt-to-Income Ratio: Lowering existing debts relative to income enhances borrowing capacity. Aim to pay off high-interest debts or renegotiate terms.

Boost Collateral: Offering valuable assets as collateral mitigates lender risk. Real estate, equipment, or accounts receivable can serve as security.

Prepare a Comprehensive Business Plan: Clearly outline your business objectives, market analysis, and financial projections. A well-crafted plan showcases commitment and feasibility.

Establish a Relationship with Lenders: Cultivate trust and rapport with banks or credit unions. Regular communication and transparent disclosure can foster confidence in your business.

Explore Alternative Lenders: Non-traditional lenders like online platforms or community development financial institutions (CDFIs) may offer more flexible terms, catering to diverse business needs.

By implementing these strategies, entrepreneurs can significantly enhance their business loan eligibility. For instance, imagine a small bakery seeking expansion funds. By diligently improving its credit score, presenting a detailed business plan, and offering equipment as collateral, the bakery increases its chances of securing a loan from a local bank.

In conclusion, navigating the complexities of business loan eligibility demands strategic planning and proactive measures. Entrepreneurs must focus on enhancing their financial profile, fostering lender relationships, and exploring diverse financing options. With the right approach, businesses can unlock the funding they need to thrive in today’s dynamic market landscape.

[seanmorrisisnotyourdad]

These 10 banks are the best banks new businesses with bad credit

Navigating the Banking Landscape: A Guide for Entrepreneurs

As a credit specialist, I'm often asked about the best banks for entrepreneurs starting out. In this post, I'll share my insights on the top banks you should consider and the key factors to keep in mind.

Tier One Banks

Chase Bank - Uses FICO 8 scoring model Citibank - Also uses FICO 8 scoring model Capital One - Pulls from all three credit bureaus

Tier Two Banks

Wells Fargo - Uses Experian FICO 9 scoring model, offers business credit cards and lines of credit PNC Bank - Also uses Experian FICO 9 scoring model Regions Bank - Uses Vantage Four scoring system, has special programs for minority-owned businesses

Tier Three Banks

Navy Federal Credit Union - Uses Experian FICO 9 scoring model, but also has an internal scoring system Connector - Experian FICO 9 lender, is a Community Development Financial Institution (CDFI) Baxter Credit Union (BCU) - Uses Vantage Score 3.0 from TransUnion Vidiian - Also uses TransUnion Vantage Score 3.0

The key advantages of these tier two and three banks are that they are more flexible, often requiring less time in business and fewer credit inquiries. They also offer features like 0% interest on business credit cards, which can be useful for managing cash flow and investments.

Remember, when it comes to funding your business, it's best to have a diversified approach and consider multiple tiers of banks. This will give you the highest chance of securing the financing you need to get your entrepreneurial venture off the ground.

YouTube Source: https://www.youtube.com/watch?v=PAm5IXW1Uqg YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg Related Content: https://www.pinterest.com/pin/837177018262624901/ https://www.diigo.com/profile/roxannetavares https://roxannetavares.blogspot.com/ https://calendar.google.com/calendar/event?eid=OHA5cGU5aWVqaDNqb2NjOWs1MzNlNGM1aTQgaXpldHRhc21hcnQ2MzRAbQ https://docs.google.com/forms/d/e/1FAIpQLSdzwOCbTfuKq_Z3fPVRmqBgOgY6EqzqfevJNWngCURdk0EcIA/viewform https://roxannetavares.wordpress.com/

[hildatjames]

These 10 banks are the best banks new businesses with bad credit

Navigating the Banking Landscape for Entrepreneurs: Top Tier Banks for Funding Success

As a Credit Specialist, I'm often asked about the best banks for entrepreneurs starting their business. In this post, I'll provide a comprehensive guide to help you identify the top-tier banks that offer the highest chances of funding.

Tier One Banks

Chase Bank - Uses FICO 8 scoring model

Citibank - Also uses FICO 8 scoring model

Capital One - Pulls all three credit bureaus when opening accounts

Tier Two Banks

Wells Fargo - Uses Experian FICO 9 scoring model, making it easier to obtain funding. They also offer a business credit card and line of credit opportunities.

U.S. Bank - Uses FICO 9 scoring model and provides convenience checks to help you liquidate your card balances.

PNC Bank - Also uses Experian FICO 9 scoring model.

Truist - Uses FICO 8 scoring system, so I'd recommend exploring FICO 9 or Vantage Score options instead.

Tier Three Banks (Credit Unions)

Navy Federal Credit Union - Uses Experian FICO 9 scoring model, but also has an internal scoring system.

Connector - A CDFI (Community Development Financial Institution) that uses Experian FICO 9 and is more flexible in working with small and minority-owned businesses.

Baxter Credit Union (BCU) - Uses Vantage Score 3.0 from TransUnion, which considers authorized users, rental payments, and utility bills on your credit file.

Vidiian - Also uses TransUnion Vantage Score 3.0, with similar flexible criteria as BCU.

The key advantages of these tier two and three banks are their easier approval processes, quicker access to lines of credit, and more lenient credit score requirements (often using FICO 9 or Vantage Score). Additionally, many of these institutions offer 0% interest credit cards and the ability to liquidate card balances through convenient checks.

Remember, starting with the right bank is crucial for entrepreneurs seeking funding. By understanding the different tiers and their unique features, you can maximize your chances of securing the financing you need to grow your business. If you have any further questions about business credit funding or personal credit management, feel free to schedule a one-on-one consultation.

YouTube Source: https://www.youtube.com/watch?v=PAm5IXW1Uqg YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg Related Content: https://www.pinterest.com/pin/604397212522312773/

[clarencecloutier]

These 10 banks are the best banks new businesses with bad credit

The Best Banks for Entrepreneurs Starting Out

As a Credit Specialist, I'm often asked about the best banks for entrepreneurs just starting out. Here's my advice:

Tier 1 Banks

Chase Bank - Uses FICO 8 scoring

Citibank - Also uses FICO 8

Capital One - Pulls all three credit bureaus

Tier 2 Banks

Wells Fargo - Uses Experian FICO 9, easier to get funding, offers business credit cards and lines of credit

U.S. Bank - Uses FICO 9, offers convenience checks to liquidate cards

PNC Bank - Uses Experian FICO 9

Regions Bank - Offers special programs for minority-owned businesses

Tier 3 Banks (Credit Unions)

Navy Federal Credit Union - Uses Experian FICO 9 and internal scoring system

Connexus Credit Union - Uses Experian FICO 9, is a Community Development Financial Institution (CDFI)

Baxter Credit Union (BCU) - Uses Vantage Score 3

Vidiian - Uses TransUnion Vantage Score 3

The key benefits of these institutions are the ease of obtaining business credit cards and lines of credit, often without the lengthy waiting periods required by larger banks. Many also offer 0% interest promotional periods, making them attractive options for entrepreneurs starting out. If you have any other questions about business credit funding or personal credit management, feel free to schedule a one-on-one consultation. YouTube Source: https://www.youtube.com/watch?v=PAm5IXW1Uqg YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg Related Content: https://www.pinterest.com/pin/727331408599869821/

[joshcarpetclean]

These 10 banks are the best banks new businesses with bad credit

Navigating the Bank Landscape for Entrepreneurial Success

As a Credit Specialist, I'm often asked by entrepreneurs about the best banks to work with when starting a new business. Here's a comprehensive guide to help you make the right choices:

Tier One Banks

Chase Bank - Uses FICO 8 scoring model

Citibank - Also uses FICO 8 scoring model

Capital One - Pulls all three credit bureaus when opening accounts

Tier Two Banks

Wells Fargo - Uses Experian FICO 9, making it easier to get funding. Offers a business credit card and line of credit.

U.S. Bank - Uses FICO 9 and provides convenience checks to help you liquidate card balances.

PNC Bank - Also uses Experian FICO 9

Minority-Owned Banks - Offer specialized programs and alternative scoring criteria for minority entrepreneurs.

Tier Three Banks

Credit Unions - Such as Navy Federal and Baxter Credit Union, use Experian FICO 9 or Vantage Score 3.0. They are often more flexible and have quicker approval processes.

Community Development Financial Institutions (CDFIs) - Institutions like Connector provide alternative financing options, especially for small and minority-owned businesses.

Key Considerations

Focus on institutions that use FICO 9 or Vantage Score 3.0, as these scoring models consider a wider range of financial factors, making it easier to get approved.

Tier two and three banks often offer more flexible terms, faster approvals, and specialized programs for entrepreneurs.

Building a relationship with multiple banks (tier one, two, and three) can provide you with the best funding options as your business grows.

Remember, the key to entrepreneurial success is finding the right banking partners to support your financial needs. By understanding the landscape and choosing the appropriate institutions, you can set your business up for long-term growth and prosperity. YouTube Source: "10 Top Banks Ideal for New Businesses with Poor Credit Histories" YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg Related Content: https://www.pinterest.com/pin/697072848615428273/

[ukconsultantdermatologist]

These 10 banks are the best banks new businesses with bad credit

Here is a summary of the provided information, written in a professional tone, with bullet points, bold key phrases, and headings, in HTML format:

The Best Banks for Entrepreneurs: A Credit Specialist's Perspective

As a Credit Specialist, I often get asked about the best banks for entrepreneurs starting out. Here's my advice:

Tier One Banks

Chase Bank - Uses FICO 8 scoring

Citibank - Also uses FICO 8 scoring

Capital One - Pulls all three credit bureaus when opening accounts

Tier Two Banks

Wells Fargo - Uses Experian FICO 9 scoring, easier to get funding, offers business credit cards and lines of credit

U.S. Bank - Uses FICO 9 scoring, offers convenience checks to liquidate cards

PNC Bank - Also uses Experian FICO 9 scoring

Tier Three Banks

Navy Federal Credit Union - Uses Experian FICO 9 scoring, has internal scoring system as well

Connector - Uses Experian FICO 9 scoring, is a Community Development Financial Institution (CDFI)

Baxter Credit Union (BCU) - Uses Vantage Score 3 from TransUnion

Vidiian - Also uses TransUnion Vantage Score 3

The key advantages of these Tier Two and Tier Three banks are:

Easier to get business credit cards and lines of credit

Flexibility in considering alternative credit factors like authorized users, rental history, and subscriptions

Shorter waiting periods for funding compared to traditional banks

Offer 0% interest promotional periods on business credit cards

Remember, when starting out, it's best to have a diverse portfolio of bank relationships to increase your chances of funding success. Let me know if you have any other questions!

YouTube Source: "Top 10 Lenders for New Businesses with Bad Credit: Financial Solutions for Startups" YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg Related Content: https://www.pinterest.com/pin/714242822182753313/ https://www.diigo.com/profile/ukconsultant0

[jarrettboone]

These 10 banks are the best banks new businesses with bad credit

A Comprehensive Guide to Securing Funding for Your Startup

As a Credit Specialist, I'm often asked by entrepreneurs just starting out: "What's the best bank I should go to for the highest chance of funding?" Here's my advice:

Tier One Banks

Chase Bank - Uses FICO 8 scoring

Citibank - Also uses FICO 8

Capital One - Pulls all three credit bureaus when opening accounts

Tier Two Banks

Wells Fargo - Uses Experian FICO 9, easier to get funding; offers business credit cards and lines of credit

U.S. Bank - Uses FICO 9, with longer 0% interest periods on credit cards; offers convenience checks to liquidate funds

PNC Bank - Also uses Experian FICO 9

Tier Three Banks (Credit Unions)

Navy Federal Credit Union - Uses Experian FICO 9 and their own internal scoring system

Connector - Experian FICO 9, flexible for small and minority-owned businesses as a CDFI

Baxter Credit Union (BCU) - Uses Vantage Score 3 from TransUnion

Vidiian - Also uses TransUnion Vantage Score 3

The key advantages of these tier two and three banks are that they typically have more flexible requirements, shorter waiting periods for business loans and lines of credit, and options like 0% interest credit cards to help you manage cash flow and investments.

Remember, starting with business credit cards and lines of credit is the best approach, before moving on to business loans. I'm happy to discuss your specific funding needs in a one-on-one consultation. Just click the link in the description to schedule an appointment.

YouTube Source: https://www.youtube.com/watch?v=PAm5IXW1Uqg YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg Related Content: https://www.pinterest.com/pin/863283822361845631/

[repairnorwalk]

These 10 banks are the best banks new businesses with bad credit

The Best Banks for Entrepreneurs Starting Out

As a Credit Specialist, I often get asked about the best banks for entrepreneurs just starting their businesses. Based on my experience, I recommend considering three types of banks: Tier 1, Tier 2, and Tier 3.

Tier 1 Banks

- **Chase Bank**: Uses FICO 8 scoring model - **Citibank**: Also uses FICO 8 scoring model - **Capital One**: Pulls all three credit bureaus when opening accounts

Tier 2 Banks

- **Wells Fargo**: Uses Experian FICO 9 scoring model, making it easier to get funding. They also offer a business credit card and a line of credit. - **U.S. Bank**: Uses FICO 9 scoring model, and their sister company, Elon Financial, offers longer-term credit cards with 0% interest balance transfers. - **PNC Bank**: Also uses Experian FICO 9 scoring model.

Tier 3 Banks

- **Navy Federal**: Uses Experian FICO 9 scoring model, but has an internal scoring system as well. - **Connector**: A Community Development Financial Institution (CDFI) that uses Experian FICO 9 scoring model, with more flexibility for small and minority-owned businesses. - **Baxter Credit Union (BCU)**: Uses the Vantage Score 3 scoring model from TransUnion. When starting out, it's recommended to focus on obtaining business credit cards and lines of credit from these institutions, as they are often more flexible and don't require as much business history as traditional banks for funding. YouTube Source: https://www.youtube.com/watch?v=PAm5IXW1Uqg YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg Related Content: https://www.pinterest.com/pin/625155992055311020/ https://www.diigo.com/profile/jamescomputer0

[davidfmoriarty]

These 10 banks are the best banks new businesses with bad credit

Here is a 150-word summary about the best banks for entrepreneurs starting a business, written in a professional tone with bullet points, bold key phrases, and headings:

The Top Banks Every Entrepreneur Should Consider

As a Credit Specialist, I recommend that entrepreneurs starting a business have three types of banks: Tier 1, Tier 2, and Tier 3. Here's a breakdown of the best options in each category:

Tier 1 Banks

- **Chase Bank** - Uses FICO 8 scoring - **Citibank** - Also uses FICO 8 scoring - **Capital One** - Pulls all three credit bureaus

Tier 2 Banks

- **Wells Fargo** - Uses Experian FICO 9, offers business credit cards and lines of credit - **U.S. Bank** - Uses FICO 9, provides convenience checks to access funds - **PNC Bank** - Also uses Experian FICO 9

Tier 3 Banks

- **Navy Federal Credit Union** - Uses Experian FICO 9 and their own internal scoring system - **Connector** - CDFI that uses Experian FICO 9, more flexible for small/minority businesses - **Baxter Credit Union** - Uses Vantage Score 3 from TransUnion The key benefits of these banks are easier approval, faster access to funding, and more lenient credit requirements, particularly for newer businesses. Focusing on Tier 2 and Tier 3 institutions can give entrepreneurs the best chance of securing the financing they need to get started. YouTube Source: https://www.youtube.com/watch?v=PAm5IXW1Uqg YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg Related Content: https://www.pinterest.com/pin/624663410847525354/ https://www.linkedin.com/feed/update/urn:li:share:7198353986247168000

[robertmatthews0]

These 10 banks are the best banks new businesses with bad credit

Navigating the Business Banking Landscape: A Guide for Entrepreneurs

As a Credit Specialist, I'm often asked about the best banks for entrepreneurs who are just starting out. The answer is not a simple one, as there are several factors to consider. Here's a breakdown of the different tiers of banks and the benefits they offer:

Tier One Banks

Chase Bank - Uses FICO 8 scoring model

Citibank - Also uses FICO 8 scoring model

Capital One - Pulls from all three credit bureaus when opening accounts

Tier Two Banks

Wells Fargo - Uses Experian FICO 9 scoring model, making it easier to get funding. Offers a business credit card and line of credit options.

U.S. Bank - Uses FICO 9 scoring model and provides convenience checks for liquidity.

PNC Bank - Also uses Experian FICO 9 scoring model.

Tier Three Banks

Navy Federal Credit Union - Uses Experian FICO 9 scoring model and has a two-score system.

Connext - A CDFI (Community Development Financial Institution) that uses Experian FICO 9 and is more flexible for small and minority-owned businesses.

BCU (Baxter Credit Union) - Uses the Vantage Score 3 from TransUnion, which considers authorized users, rental payments, and utility bills.

Vidiian - Also uses the TransUnion Vantage Score 3 and has similar flexible criteria.

The key takeaway is to start with a mix of these institutions, focusing on those that use the FICO 9 or Vantage Score 3 models, as they are more flexible and easier to work with, especially for new businesses. Additionally, many of these banks offer 0% interest credit cards and convenient ways to access your funds, which can be invaluable for entrepreneurs.

If you have any other questions about business credit funding, personal credit funding, or removing negative items from your credit report, feel free to schedule a one-on-one consultation with me.

YouTube Source: https://www.youtube.com/watch?v=PAm5IXW1Uqg YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg Related Content: https://www.pinterest.com/pin/691513717818004735/

[patriciacomputer]

These 10 banks are the best banks new businesses with bad credit

Here is a summary of the video in a professional tone, structured with bullet points, bold key phrases, and headings, in HTML format:

The Best Banks for Entrepreneurs Starting a Business

As a Credit Specialist, I would recommend that entrepreneurs starting a business have three types of banks:

Tier 1 Banks

Chase Bank - Uses FICO 8 scoring

Citibank - Also uses FICO 8 scoring

Capital One - Pulls all three credit bureaus when opening accounts

Tier 2 Banks

Wells Fargo - Uses Experian FICO 9 scoring, easier to get funding, offers business credit cards and lines of credit

U.S. Bank - Also uses FICO 9 scoring, provides convenience checks to liquidate card balances

PNC Bank - Experian FICO 9 scoring

Tier 3 Banks

Navy Federal Credit Union - Uses Experian FICO 9 and their internal scoring system

Connector - Experian FICO 9 scoring, is a Community Development Financial Institution (CDFI) with more flexibility

Baxter Credit Union (BCU) - Uses Vantage Score 3 from TransUnion

Vidiian - Also uses TransUnion Vantage Score 3

The key advantages of these Tier 2 and Tier 3 banks are:

Easier to get business credit cards and lines of credit, even if you're just starting out

More flexible with credit requirements, such as considering authorized users, rental history, and utility payments

Offer 0% interest promotional periods on business credit cards

If you have any other questions about business credit funding or personal credit, feel free to schedule a one-on-one consultation. YouTube Source: https://www.youtube.com/watch?v=PAm5IXW1Uqg YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg Related Content: https://www.pinterest.com/pin/775463629617610977/ https://www.diigo.com/profile/patriciacomputer