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A Guide to Applying: Business Funding Application Secrets Underwriting Won't Tell You!

We've been waiting for the day to tell Small Business Owners all of our secrets. There is no secret sauce that you need to purchase and there is no email list you need to subscribe in order to download information that you can simply view here.

The secret is the ingredients YOU put into your application before you submit anything over to a Company. These secret ingredients will boost flavor and have an excellent presentation when servicing your documents to underwriting.

A Guide to Applying: Business Funding Application Secrets Underwriting Won't Tell You!
A Guide to Applying: Business Funding Application Secrets Underwriting Won't Tell You!
#1 ALWAYS Complete the entire application!

You may not understand why there are so many questions but most of the required information is a given. The other sections such as use of funds and how much you need is important! Most times your application is fit into the parameters of your industry and what just "fits." Knowing you have new contracts or invoices or that you need capital to expand changes the game! Be open with who you are working with in letting them know what you need and why.

#2 Be Upfront YOUR PAST.

Everyone wants to leave the skeletons in the closet but remember, they come back to haunt you if you are upfront and face things. Usually when Small Business Owners apply outside of their banks or credit unions, it is because they don't qualify. It's more than just credit issues too. You may have gone through a divorce or had some legal issues prior to owning your business. Be upfront and go over the things that may come up in a background check or credit check. At AtlasOne Fund, our main goal is to represent how great your business is and your funding request. We want to make sure the good is highlighted but the "negative factors" are also told upfront to not waste any time. Most times it's your honesty that will push your application through!


We are going to keep this section in BOLD just to make sure you, the reader, are understanding this.

Although applying online for financing (or through the phone) may seem like an unconventional way of obtaining capital. Companies that Fund and Lend have exceptional due diligence skills and spotting fake bank statements is easier than you think. We've caught HUNDREDS of small businesses throughout the years that tried to apply with tampered bank statements or financial documents and they ALWAYS get caught. It's a big disappointment to see but here is what happens:

  • Your Application will be flagged in a backend system that direct funding companies and online lenders share. No matter who you apply with after, your information will most likely FLAG and your application will be declined.

  • All funding and lending institutions conduct bank verifications in closing. They do this their own selective way whether by secured third party link or by manual login. There is no getting around this closing step and if the bank statements do not match, it will be flagged.

  • This also means if page 4 is kept blank, send that page too. All pages need to be submitted in PDF format.

#4 Keep your Business and Personal Transfers Separate.

Most declines come from businesses not keeping their personal spending in their personal accounts. It may feel like you're not really spending money if you use your business banking but you really are. Many Applicants also take Zelle, Venmo, and Cashapp as payments or pay through them. Though this is a regular practice, it is important to label them correctly.

Example, sending money to your wife, brother, or anyone with a pet name cannot be passed as an employee or vendor. Trust us, we've seen some crazy pet names!

Keep transfers through cash sending apps at a minimum and keep track of the amounts your receive and pay out for reference.

#5 Maintaining a Healthy Business Balance

Most declines come from automatic decline reasons that happen as soon as an application comes in. They #1 reason: not enough funds in the account. Obviously that is the reason you are applying, right?

Payback is very important and this is what is looked at when calculating the amount of capital you need vs. your affordability. Depending on your expenses, bills, payroll, and other set payments, your business can only stand to pay back a specific percentage. Even if you are bringing in $50,000 in revenue but your daily balances are lower than $500 this shows a big instability in your cash flow. Always go over this with an agent to make sure the ability is there and where we need to represent your business more to show that it is a short term issue.


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