Risky Business Codes and Names: Avoiding Funding Denials
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- Опубликовано: 8 сен 2024
- Video may be outdated, watch updated content at: • Choosing the Right NAI...
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Risky Business Codes and Names: Avoiding Funding Denials
Come join us on our live training event to discover how to avoid funding denials based on risky business codes and names.
During this Livestream, you’ll discover …
✅ How risky business codes and names cause funding denials
✅ Where SIC Codes came from
✅ Where NAICS codes came from
✅ How can choosing the wrong SIC code can affect funding?
✅ Why do SIC codes and NAICS codes affect funding in the first place?
✅ How can your business name cause you to get automatically denied?
✅ Which industries are considered risky by lenders?
✅ How can you honestly choose a SIC code that does not indicate risk?
✅ What are your business funding options if your business is in a risky industry?
And for more information on business funding and how to get it, be sure to check out
👉 www.creditsuit...
WOW, that’s a lot of great info we’ll be covering in this one-hour live event. ALL will be revealed in this Livestream, register now… spots are limited!
👉 Grab our FREE guide on getting FUNDING and BUSINESS CREDIT to grow… www.creditsuit...
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Credit Suite gives your business a path to fund itself so that you can stop asking friends and family (or opening your own wallet) when your business needs cash. Credit Suite improves fundability, helps you build business credit, and get business loans and credit lines so that you can grow your business with confidence.
Make sure that your business meets all lending guidelines before you apply. Build credit in your business name and with your EIN so that you don’t have to personally guarantee business finances. Get loans and credit lines so that your business can continue to GROW. With Credit Suite you can get the capital you need to succeed and grow! Learn more at www.creditsuite.com.
This video is AAAmmmaazing. I would have paid money for this! Thank you so much. This was 1000% helpful.
Thank you for watching Lareshonda! ❤
@@CreditSuite yes I agree! This video and information are Amazing! Can you tell me nursing businesses that are not high risk? I'm in home health care, i do private duty nursing and I'm also an independent nurse provider, and I provide different nursing services. Thank you so much for any info you can provide 😊 🤗🤗
My corporate industry is business management which is the least risky.
Same industry and i'm trying to figure out the same thing too
I have learned so much from this video, thank you
Glad it was helpful! Make sure you're subscribe for more informative video.
I see a lot of people buy shelf corporations and get lots of credit with them it just depends on ho you do it.
Thank you for watching our Video Gerald. We don't really recommend buying shelf corporation because Shelf corporations re-age with the new owner and with the re-aging of the company it is essentially starting a new business. However in a situation where there is a corporate structure change example from a sole proprietorship or a partnership to a corporation, banks can (and often times do) look back on the previous operations and use that as qualifiers.
Great content! I have a question, is marketing and network consultant consider high risk? Or marketing and management consultant? I can’t seem to find if this business is consider high risk.
Thanks for watching Erick. Here is how to check the NAICS codes to make sure your business isn't being categorized as High Risk or Restricted.
1) Search for your business type at www.naics.com/search/
2) In a separate tab cross reference the NAICS code with their list of High Risk and Restricted codes at r7j8i9x2.rocketcdn.me/wp-content/uploads/2014/10/NAICS-ASSOCIATION-High-Risk-and-Cash-Intensive-NAICS-Codes-List.pdf
This is the easiest way to make sure you are properly classifying your business.
Thank you for posting a video. A quick question what type of NAICS business code is accurate if a LLC wants to provide education and consulting services in tax, business , finance and real estate that includes buying tax liens, real estate for investment and tax preparation and consulting
Call us: 727-617-7803
Also like you mentioned Joe's or Chico's what about when they ask what type of business is it? Wanting to also do ECO friendly cleaning business for business, residential, etc>
Thanks for your comment. Here is how to check the NAICS codes to make sure your business isn't being categorized as High Risk or Restricted.
1) Search for your business type at www.naics.com/search/
2) In a separate tab cross reference the NAICS code with their list of High Risk and Restricted codes at r7j8i9x2.rocketcdn.me/wp-content/uploads/2014/10/NAICS-ASSOCIATION-High-Risk-and-Cash-Intensive-NAICS-Codes-List.pdf
This is the easiest way to make sure you are properly classifying your business.
If I wanted to start a private rental car business, what code would I go under to avoid funding denial? I'm aware that automotive dealing is considered high risk but it is something that I want to do.
Thanks for watching our video. If that's the industry you want to venture to and your correct NAICS code really falls under "High Risk Category" then it is okay. High risk does not mean you can't get funding, it will be just more stringent when it comes to requirements and qualifications. If that's the case you might want to focus on strengthening your Fundability™ Foundation, Build Business Credit and Personal Credit, Business Revenue, and all other factors that will be looked at by Lenders and Credit Issuers.
Can you go back and change your code?
@Latoya Johnson yes you can. You may go to naics.com to look up your code and to change it you have to do filing with IRS. If you have any other questions let us know or give us a call at 877-600-2487!
what industries are most likely to get funded or what is a low-risk industry for lenders?
Here is how to check the NAICS codes to make sure your business isn't being categorized as High Risk or Restricted.
1) Search for your business type at www.naics.com/search/
2) In a separate tab cross reference the NAICS code with their list of High Risk and Restricted codes at r7j8i9x2.rocketcdn.me/wp-content/uploads/2014/10/NAICS-ASSOCIATION-High-Risk-and-Cash-Intensive-NAICS-Codes-List.pdf
This is the easiest way to make sure you are properly classifying your business.
Great video! What would be a good code for car rentals? Thanks
Thank you for watching our video. You can search for your code at www.naics.com/search/
Is there an updated video on this topic or is this info still current i am on your mailing list and i was interested in forming LLC for Business Lending Broker or funding but from what im told is considered high risk industry how can i weave around fundability issue. About to form LLC but i think im gonna have to re examine name.
Here's a newer video: ruclips.net/video/uxDN9Ztt-dw/видео.html
Hi sir, Would "ABC solutions" be considered a high risk name for a property managing business?
Hello Jessica, here is how to check the NAICS codes to make sure your business isn't being categorized as High Risk or Restricted.
1) Search for your business type at www.naics.com/search/
2) In a separate tab cross reference the NAICS code with their list of High Risk and Restricted codes at r7j8i9x2.rocketcdn.me/wp-content/uploads/2014/10/NAICS-ASSOCIATION-High-Risk-and-Cash-Intensive-NAICS-Codes-List.pdf
This is the easiest way to make sure you are properly classifying your business.
What is a non-risk naics code for business that sale customized T-shirts with my business name on it
Thank you for your comment. Here is how to check the NAICS codes to make sure your business isn't being categorized as High Risk or Restricted.
1) Search for your business type at www.naics.com/search/
2) In a separate tab cross reference the NAICS code with their list of High Risk and Restricted codes at r7j8i9x2.rocketcdn.me/wp-content/uploads/2014/10/NAICS-ASSOCIATION-High-Risk-and-Cash-Intensive-NAICS-Codes-List.pdf
This is the easiest way to make sure you are properly classifying your business. Hope this helps.
whats a non-risk naics code for catering/ food truck?
Thanks for watching. Here is how to check the NAICS codes to make sure your business isn't being categorized as High Risk or Restricted.
1) Search for your business type at www.naics.com/search/
2) In a separate tab cross reference the NAICS code with their list of High Risk and Restricted codes at r7j8i9x2.rocketcdn.me/wp-content/uploads/2014/10/NAICS-ASSOCIATION-High-Risk-and-Cash-Intensive-NAICS-Codes-List.pdf
This is the easiest way to make sure you are properly classifying your business.
I Buy, Renovate and Flip Houses. What's my code?
Here is how to check the NAICS codes to make sure your business isn't being categorized as High Risk or Restricted.
1) Search for your business type at www.naics.com/search/
2) In a separate tab cross reference the NAICS code with their list of High Risk and Restricted codes at r7j8i9x2.rocketcdn.me/wp-content/uploads/2014/10/NAICS-ASSOCIATION-High-Risk-and-Cash-Intensive-NAICS-Codes-List.pdf
This is the easiest way to make sure you are properly classifying your business.
I applied for Navy Federal business account and they denied me since I put a car rental code they said it’s high risk for them. I would like to apply to another bank but can I pick another code ? What would you recommend? This is for turo.
Here is how to check the NAICS codes to make sure your business isn't being categorized as High Risk or Restricted.
1) Search for your business type at www.naics.com/search/
2) In a separate tab cross reference the NAICS code with their list of High Risk and Restricted codes at r7j8i9x2.rocketcdn.me/wp-content/uploads/2014/10/NAICS-ASSOCIATION-High-Risk-and-Cash-Intensive-NAICS-Codes-List.pdf
This is the easiest way to make sure you are properly classifying your business.