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Meet entrepreneur Kate. When I met her, she had been building a huge following for her retail marketing company, not just nationally, but internationally. Her seminars and workshops were always full. However, Kate was looking to take her business to the next level.

She decided to go to her local bank to secure funding for her business and was promptly turned down. She was stunned, with good credit, never making a late payment and running a strong profitable business; how could she be turned down?

The banker referred her to Fundwise Capital. There, she learned that her best option to secure funding was with unsecured business/personal revolving credit lines, but she had a few problems with her credit. Her business was doing well, but she showed break-even on her tax returns after using her tax write-offs as a business owner. In addition, her business credit cards were all maxed out. Having her card’s maxed out red flagged banks and put her on auto-decline.

To get better funding she needed to “get dressed for the big dance” as Evan, Fundwise Capital’s Chief Funding Manager, often says, meaning that she needed to make herself look less risky to banks.
To make herself look less risky, she used this huge funding trick. For every revolving account that you have, like a credit card or credit line, it is essential for your credit card balance limit ratio to be under 45% and if possible under 35%.

In this example, let’s say that Kate had a $10,000 credit card. For her to look less risky, she would want her balance to be less than $4,500 (45%), and at all possible be around $3,500 (35%). (4.5k/10k = 45% and 3.5k/10k=35%).

This one trick will keep your credit score high and show lenders that you are a low risk. When you go to a lender asking for money put yourself in the lender’s position. If someone has maxed out credit cards, they are only one bad week at work away from defaulting on all their payments. It looks like they’re on the edge of collapsing.

However, if you follow this trick of keeping your balance below 45% on your credit cards, you look a lot less risky to banks. This will keep you at a higher credit score, which will allow you to qualify for the lowest rates on mortgages, auto loans, business loans and credit cards for the rest of your life.

This one trick will save you tens of thousands in lower interest for the rest of your life! After Kate came to Fundwise Capital, we helped her get her maxed out credit cards down, and she ended up receiving $59,000 in funding. It was transformational. With that money, she took her business to the next level.

The results brought about by her funding have been absolutely incredible. Her website was upgraded and looks like a million bucks, she is doing live events all over the country and the world, and she’s authored a number of books. I really admire her. The coolest part is, in addition to her great intuition as an entrepreneur, she was able to do all of this because she followed the right funding steps and got the capital she needed to grow her ideas into a huge success.