Why Fundability™ is Crucial

... If You Want to Get the Money You Need to Grow Your Business …

Contact Information
Business Bank Account

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Fundability Foundation™

A foundation comes from how your business is set up. It has to be set up as a Fundable entity separate from you, the owner.

Contact Information

The first step in setting up Fundability Foundation™ is to set up your business separately from you, its owner. One way to get started is to give your business its own contact information.

This includes a professional phone number. And you can get a business phone number that will work over the internet (VoIP) instead of phone lines.

Your business address needs to be a physical address where you can receive mail. P.O. boxes, UPS boxes, iPostal, and the like do not work for establishing business credit or getting financing. In fact, having the wrong kind of address or even just listing different addresses on different documents is enough to get you denied for a loan. Our team can help walk you through this.

A virtual office is an option, as it offers a physical address for a fee. A home address is acceptable, so long as it is consistent throughout all your documentation.

Your business phone matters! Not all VOIP providers are created equal. RingCentral is THE phone provider for a Fundable business. We have a prefered relationship with them. Start by filling out a quick form. 

Get a fully Fundability Ready™ Business Address with Alliance Virtual offices. You want to make sure that your business address is real. Using iPostal, P.O. Boxes and UPS Stores as your address will get you denied! 


Incorporating your business as an LLC, S-corp, or corporation. It offers some protection from liability. Corporations are considered to be separate entities from their owners. As a result, corporations can have their own credit. By incorporating, you create a layer of protection between your business’s debts and actions and your own.

Which corporate option you choose does not matter as much for Fundability as it does for your budget, needs for liability protection, and tax incentives. Talk to your attorney or a tax professional for advice on which option is best for you.

When you sign up for the $39 formation service, Northwest will provide everything else you need to get your LLC, Corporation, or Nonprofit started.

Northwest Registered Agents is the best in the business for helping with entity and EIN setup. 

  • A fully formed Business
  • Registered Agent Service
  • Fundability Ready™ Business Address
  • Mail Forwarding
  • Northwest Privacy by Default® 
  • Northwest Corporate Guide® Service


An EIN is an identifying number for your business working a lot like your SSN works for you personally. For a Fundable business, you need to apply for and use an EIN. You can get one for free from the IRS. When you apply for your EIN the information you use must be the same you used with your secretary of state during incorporation.


Business Bank Account

You have to open a separate, dedicated business bank account. It will help you keep track of business finances and help keep them separate from personal finances for tax purposes.

In addition, there are several types of funding you cannot get without a business bank account. Many lenders and credit issuers want to see one with a minimum average balance. Plus, you cannot get a merchant account (to take credit card payments) without a business bank account.

Get your dedicated business bank account with NorthOne and get 3 months free just because you're a Credit Suite Family Member! 

North One is an online bank that offers excellent business bank accounts.  They’re completely online and easy to get approved with.

  • Send ACH and wire payments from your phone or computer
  • Move cash for free through one of America's largest network
  • Make mobile check deposits
  • Get human support on your schedule
  • Connect to your favorite business apps including PayPal, QuickBooks & Square


A business must have all the necessary licenses it needs to run. The best place to start is your Secretary of State’s office and local government offices. Depending on your industry, state, and or local government it is best to check before you start operating and applying for any kind of financing.



Your business website should be professionally designed and user-friendly. Pay for hosting and a professional email address with the same URL as your website. Avoid using a free service for hosting or email.

Get a business domain name that is dedicated to your business and easy for prospects and customers to remember! 

Get a business website created and added to your domain name. Just having the domain name is not enough. You'll need some basic content. Fill out a fast form to get started! 

How to Improve Your Fundability™ and Get More Money for Your Business Faster

Business Credit Reports

The main sources for business credit reports are Dun & Bradstreet, Experian, Equifax, and FICO SBSS.

Protect your business credit scores with our exclusive Bureau Insights

Other Business Data Agencies

There are other business data agencies that affect credit reports indirectly. Two examples are LexisNexis and The Small Business Finance Exchange. These agencies gather data from a variety of sources, including public records. You cannot access or change the data these agencies have on your business, but you can ensure that any new information they get is positive. This can help counteract negative information from the past.

Identification Numbers

In addition to the EIN, there are identifying numbers that go along with your business credit reports. Some of them are simply assigned by the agency, like the Experian BIN.

You must proactively apply for a D-U-N-S number from Dun & Bradstreet. To get one for free, you must apply via the D&B website.

Business Credit History

Both personal and business credit scores are a huge piece of Fundability.

Credit history consists of a number of things including

  • How many accounts are reporting payments?
  • How long have you had each account?
  • What type of accounts are they?
  • How much credit are you using on each account versus how much is available?
  • Are you making your payments on these accounts consistently on-time?

The more accounts reporting on-time payments, the stronger your credit score will be.

Business Information

All business information must be consistent across the board. Many loan applications are turned down each year due to fraud concerns simply due to inconsistencies, some of them seemingly minor.


Other agencies have information related to your personal finances that can affect the Fundability of your business. FICO is one example. Many lenders use them for the personal credit score. Almost all traditional lenders look at personal credit in addition to business credit when underwriting a business loan.

ChexSystems also has information. They track bad check activity, which affects your bank rating. If you have too many bad checks, you will not be able to open a bank account.

Personal Credit History

Your personal credit score from Experian, Equifax, and Transunion is important. The number one way to get a strong personal credit score or improve a weak one is to make payments consistently on time.

Business credit can help to assure that business expenses and the debts of running a business do not show up on your personal credit reports.

Note: We have partnered with various companies to provide personal credit monitoring and may make a commission when you use our link. This has no impact on the price you pay.

The Application Process

The timing of the application is one of the biggest factors in this. If you know there are changes coming to your credit report, like it is time for a bankruptcy to roll off or you recently paid off a large amount of debt, make sure those changes are actually on your report before applying.

Make sure your business name, business address, and ownership status are all verifiable. Choose the right lending product for your business and your needs. This can make all the difference.


Business financials include tax returns and financial statements.

For maximum Fundability, lenders like to see at least 3 years of business tax returns. All tax returns must be up to date and taxes paid.

Business financial statements include a statement of income and expense, a balance sheet, and a statement of cash flows. Credit and loan providers want to see that the business is profitable. They tend to prefer to get at least the past three years.

Audited financial statements provide even stronger Fundability, as these statements will already have notes explaining any major fluctuation.

Your personal financials are also included here, such as recent tax returns.

Financial Statements

It is best to have an accounting professional prepare business financials.

When it comes to personal financial statements, often tax returns for the previous three years will suffice. Have a tax professional prepare them. Other information lenders may ask for include check stubs and bank statements, among other things.

TaxHive® is backed by Shark Kevin O'Leary and are THE go to tax experts to get your business taxes in order. Don't wait till you need to file

Get your Business Tax Blueprint for FREE with TaxHive®. Your taxes are critical to so many types of business financing. Make sure they are clean and optimized so you're not overpaying.

  • Fully optimize your business taxes
  • Taxes are critical to your Fundability™
  • Fundability Ready™ Financials & Tax Returns
  • TaxHive® Guarantee 
  • Free Blueprint to get started! 


Your financials also include any business or personal collateral you may be able to offer to secure a debt.

How to Improve Your Fundability™ and Get More Money for Your Business Faster

Frequently Asked Questions

What is a Fundable Business?

A business is Fundable if a lender or credit issuer believes they are a good risk and are willing to give them money or credit or both. It is to effectively demonstrate to a credit provider or a lending institution that a business is set up properly and can pay back any loan or extended credit.

What Does Fundability Mean?

Credibility or legitimacy are fairly close to Fundability, meaning that a business doesn’t appear to be ‘fly by night’. But the Fundability definition goes beyond just looking and acting the part. It also encompasses the ability to pay back any extended credit or loans. The Fundable word meaning holds both concepts, which work together. 

Businesses which are set up well will help to convince a lender or credit issuer to loan money or extend credit.

What are Fundable Businesses Like?

Fundable businesses have some details in common, regardless of industry. 

A Fundable business pays attention to details. They take the time to make sure all their information is correct and uniform wherever it is. They research vital information, such as any licensing they must have and what the market is like for their goods or services. 

They also practice financial responsibility, and pay back their debts on time. They keep their bank account in the black. And they work with professionals who can do the books and file taxes properly.

Another characteristic of Fundable businesses is that they plan ahead. If a Fundable business is seasonal, it puts away capital for the off-season, or it adds another good or service which is in demand during the off-season. They set up with the business credit bureaus and make sure transactions are reporting, since they know they may need to lean on business credit later. They have a vision and a business plan. 

What are Some Fundable Business Ideas?

There are Fundable business opportunities everywhere because virtually any type of business can become Fundable. Fundable projects can include any industry, although less risky industries can be seen as more Fundable. Incorporating is also vital—any sort of corporation will always do better than a sole proprietorship or a partnership, no matter how much the partnership or sole proprietorship is within a Fundable range.

What is a Fundable Business Plan?

A well thought-out and professionally prepared business plan will support what the business and its owners say about their ability to pay back extended credit or loans. It will showcase a Fundable business model where a company is put together legitimately, crossing all T’s and dotting all I’s.

How Do You Create and Maintain Business Fundability?

You can check on your business’s Fundability by comparing how your business is doing versus any of the above sections. If your business does not yet have a dedicated business bank account, for example, then it will be less Fundable than a business which does. 

How Long Does it Take to Achieve Fundability?

You must work on Fundability throughout the life of the business. A lot of the work comes up front, with building your Fundability Foundation™. Yet keeping records consistent, maintaining good payment histories, and how your business applies for financing will need to be worked on again and again. Since laying the groundwork covers so many different Fundability factors, we recommend making it a priority.

Who Offers Fundability?

Only Credit Suite! Others might claim to be able to help with business “credibility” or might even call it Fundability. But Credit Suite has been developing Fundability for years and we’ve used our experience in helping over 50,000 businesses find financing success! We're also the only company that truly breaks Fundability down into easy to use software for your business.