Is Your Small Business Financially Healthy?

The SmartBiz Loan Ready Score* Reveals Where You Stand

Crunching numbers and analyzing financial documents isn’t always a skill that successful entrepreneurs bring to the table. However, regularly checking the financial health of your small business is one of the most important practices to put into place, especially when applying for low-cost SBA and bank funding. Read on to learn about SmartBiz Advisor™, and the proprietary Loan Ready Score* a new educational (and free) tool created specifically for small business owners to assess the health of their business before applying for funding. The stronger your company is financially, the more likely you’ll be to get funds with low rates and long terms to help you save money and grow your business.

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The SmartBiz Loans™ team identified a knowledge gap after facilitating over $500 million in funded SBA loans: small business owners didn’t know how banks were looking at the financial health of their business. A business owner would get a “No” after working for weeks – or months – with a bank to secure a loan without explanation. It’s a very frustrating time waster for busy entrepreneurs.

SmartBiz Loans believes that knowledge is power and that 100% transparency is key during a small business loan application. The SmartBiz Loans proprietary Loan Ready Score tells you where your business stands – and how you can improve your numbers if needed- when you sign up with SmartBiz Advisor. Your Loan Ready Score is built by analyzing thousands of small business financials to help you learn how your business stacks up in each of the key areas banks use to evaluate your business. SmartBiz pulls back the curtain and reveals the seven key areas banks review: business and personal credit, combined debt coverage, business debt coverage, business debt usage and business revenue trends. (Visit the SmartBiz Loans Small Business Blog for in-depth information about each ratio.)

“Think of this advisor as an Intelligent CFO™,” says Evan Singer, SmartBiz CEO. “It’s the world’s first intelligent CFO advisor that uses Artificial Intelligence and Machine Learning to help our customers.”

Getting started is simple. Create an online sign-in & password here. To see where you stand in the key areas and receive advice, answer a few questions and upload your most recent business tax return. SmartBiz Advisor then generates your Loan Ready Score in seconds.

Singer adds, “Just as financially savvy consumers regularly check their personal credit scores, savvy small business owners should regularly check their SmartBiz Advisor dashboard to mark their progress against financial goals and use those insights to make better business decisions.”

Learn more and meet members of the SmartBiz team here:

SmartBiz Advisor Overview from SmartBizLoans on Vimeo.

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Not sure if you qualify for an SBA loan? Try the new SmartBiz Advisor™ online, educational tool to learn about how you can get your business SBA or bank loan ready – no cost involved. You can assess key criteria banks consider and where your business stands on each. Learn more about SmartBiz Advisor here.

* The Loan Ready Score is for educational purposes and is not the same as scores used by lenders for credit decision. SmartBiz Advisor is an educational tool to help you learn about how lenders may view your business. As such, you should not rely on this as the primary source of your business or personal financial decisions SmartBiz Advisor is not a financial or legal advisor as defined under federal or state law.