“Great idea … let’s start a business!”
How often are those words spoken? Oh … probably about 100x a day (or hour).
So you start chasing your dream. Meeting, planning, working. And yes – some people helping you are going to want to get paid. And you have little money. So off you go to the bank. Except you only bank online with a virtual bank. And you go to their website, click on the loan application, and it’s asking for all this stuff you’ve never heard of – and don’t even know where to find it if you do know what it is. Finally, after days of collecting details, you input all the required information, to be greeted with “Thank you for your application. One of our associates will review your application and reply with our decision within 10 business days.” And on day 11, you receive, “Thank you for your application. Unfortunately, we are unable to offer you a loan based on the details you provided. We appreciate your choice of ABC Bank and hope you will consider us for your future banking needs.”
Hmmm. Frustrating. And sadly, statistics show that scenario happens a lot more frequently to minority entrepreneurs as compared to other groups.
That’s how Archymedes got its start. Actually, the banking industry asked the team to help solve this problem. And that’s what we’ve worked hard to do. Here are five ways we help you get the money you need.
- Getting organized – Archymedes helps you know EXACTLY what details you need. Bank statements, financial statements, business licenses, and much more.
- Step-by-step process – The Archymedes platform will guide you through the process of inputting all of your details.
- Understanding your business strength – Archymedes gives you feedback on how strong your business is currently based on a calculated score, which helps you better understand how bankers will view your loan application.
- Complete financial summary – Archymedes provides you with a professional financial package that prospective lenders can use to include in internal systems as part of their evaluation. And – it will also include a pre-populated loan application for certain SBA loan programs
- Connections with lenders – Through our relationships, Archymedes helps you choose potential sources of funding.
So now you’re ready. And prepared. And most of all – you’re more confident. Archymedes empowers you to get the money you need to chase your dream and build your business.
Contact us today for a demo. Archymedes. Be Ready. Be Prepared. Be Confident.