BEFCOR Team Can Truly Make a Difference

We understand that owning a business is challenging, and many business owners feel uneasy about applying for a loan. That's where BEFCOR’s team can truly make a difference! When business owners decide to seek financing, we present loan options and find the best solution. We explain the process, provide transparency regarding the requirements and timeline, and support the business owner throughout the financing journey.

Because borrowing money can be complex, business owners and lenders sometimes face challenges along the way. We at BEFCOR are committed to delivering the best possible results, regardless of the hurdles or obstacles – that is our promise to small businesses!

Before You Borrow...

As you consider financing for your small business, here are a few insights from our team's experience:

  • Borrowing money is not an exact science – the process can vary for each borrower since every business is unique.
  • It takes time. As we gather information, we may discover that we need additional details. This is not a bad sign – it just means we are working diligently to get an approval for you.
  • We may ask for a lot of information because it helps us understand you and your business.
  • Please let us know if we can provide any explanations. If we use unfamiliar terms or are not clear, ask us to explain! We are in this together.
  • We are not traditional lenders. We are a non-profit organization driven to make an impact (not a profit!) for small businesses.
  • Tell us your story – the good and the unfortunate – it helps us understand how you have navigated the challenges you have faced. While the numbers matter, the story of you and your business is equally important. If you have credit blemishes, let us know even before we discover them on our own – the more information we have, the more we can advocate for you.
  • We solve financing puzzles if we have the information upfront. The more you tell us, the faster and better we can respond.

Strategies for Loan Success

  • Start early – Borrowing money takes time.
  • Prepare your documents – Have all necessary documents ready before starting the process.
  • Determine your financing needs – Consider how much financing you need and how you will use it. Supporting information, such as quotes or invoices, will be helpful to your lender.
  • Highlight your strengths – Discuss how you mitigate your challenges. Be transparent about both the positive and negative aspects of your business.
  • Share your passion – Communicate your passion and plans for your business.
  • Describe your business  – Assess your business’s past, present, and desired future to create a clear vision.