Why You Business Name is Critical to Funding
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- Опубликовано: 1 июл 2024
- Did you know that you Business Name and NAICS code can stop you from getting approved for Business Credit and Business Lending? In this training we show you how to find the best name and NAICS code for your business to maximize your Fundability™ to get approved for funding.
Check out the related blog at: www.creditsuite.com/blog/risk...
Key Moments:
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0:00 - Intro
1:03 - How Do Business Names Affect Your Ability to Get Funding?
4:00 - Choosing a Business Name and NAICS Code
7:06 - How Do You Know How to Avoid High Risk NAICS Codes?
9:22 - Closing Tools and Tips
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What to Watch Next
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FREE Business Resources:
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Learn more about Credit Suite at www.CreditSuite.com
Discover 27 ways you can get funding for your business at: www.CreditSuite.com/27ways
Learn how you can build your business credit at: crdt.st/udFBj
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
#CreditSuite #BusinessCredit #BusinessLoans #Fundability
You have very high energy! Every time I watch your video, I'm wide awake and do not miss a beat. This is great!
That's how passionate Ty is when it comes to discussing business credit and financing. 🤘
That's Ty, I'm calling you. I need help, AHHHH!!! I feel like I'm going in circles and accomplishing nothing. I see the value. Thank you for what you do.
Thank you for watching this video Jorge. We would love to see how we can help. Give us a call at 877-600-24987 or schedule time to talk. to us here: utm.io/unji
Wow awesome information
Thank you for watching this video Anthony, if you're new to our channel make sure to subscribe for more great content.
Hello Ty - thank you! I have an LLC (not taxed as an S-Corp) for my life coaching business. I plan to start a 2nd LLC for my real estate agent work. Would you recommend I elect for my LLC to be taxed as an S-Corp in that case?
Great question. The difference between an LLC and S Corp has more to do with Tax Savings than it does with business credit or lending. As an LLC you have the ability to upgrade the company to an LLC at any time. If it is the right time to do so would be a conversation better suited for your CPA to make sure you getting the most our of your tax benefits. If you have more questions feel free to call us at 877-600-2487
What Naics code do you use for a Etsy shop that sells digital products and apparel
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.
What would be a low risk NAICS for ecommerce?
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 would you recommend for a limited service restaurant ?
Call us at 877-600-2487 for free consult from out business credit specialist or you can schedule it here: utm.io/unji
If you can provide six months bank statements and fill out our application, I can help!
I own a holding company. (among other things) Unfortunately it seems this is causing me to get denied credit. How do I change the NAICS code associated with my company?
Thank you for watching this video @LadyVix, here's what I've found from the naics.com website. Here's the link: www.naics.com/hrf_faq/how-can-i-have-my-companys-naics-code-changed/
There is no “official” way to have a company’s SIC or NAICS code changed. Various Federal government agencies maintain their own lists of business establishments, and assign classification codes based on their own programmatic needs.
Generally, the classification codes are derived from information that the business establishment has provided on administrative, survey, or census reports. For this reason, we recommend that you contact the agency that has assigned the code that you believe should be changed.
For example, if you question the SIC or NAICS code contained on a form received from OSHA, you should contact the Department of Labor. For access to a list of Federal government agencies, visit this site.
Hope this helps.
If you can provide 6 months of bank statements, and fill out our application I can help!
I’m in e-commerce and I resell or do “ retail “ super generic
The never show my industry or they want specificity …. And I don’t specify in one particular retail niche
So long you keep the congruency of your business name across all boards SOC, IRS, Credit Bureaus, Credit Application etc
If you can provide six months bank statements and fill out our application, I can help!
Not informative.
What made you say that?
What about Marketing and Advertising?
When choosing a business name to avoid being tagged as high risk, prioritize cultural sensitivity, check for trademarks, and ensure transparency to comply with industry regulations. Consider future expansion possibilities, evaluate competitors, and consult legal professionals to guarantee the name's uniqueness and legality. Additionally, check social media and SEO aspects for consistent online presence and easy recall.