The inability to borrow money can often stand in the way of seeing a deal through. While it’s easy to just give up and think that you may not be able to get money after you’ve been denied once, today’s guest, Merrill Chandler, is here to share some actionable advice on how to go from a consumer-borrower to a professional one.
Our gracious sponsor:
Gene Trowbridge and Jonathan Nieh, founding partners of the top syndication firm Trowbridge Law Group LLP have a legal team with over 50 years of combined experience in real estate syndication and the practice of real estate securities law. Over this time Gene and his partners, in several past firms and currently, have helped clients raise close to $5.0 billion dollars in offerings by empowering entrepreneurs to raise capital legally. To learn more about Trowbridge Law Group LLP, visit our website at www.trowbridgelawgroup.com or follow us on Facebook, Instagram, or Twitter.
Watch the episode here:
Listen to the podcast here:
In this episode, we learn more about why borrowers should only use current deferment offers as the last resort. Merrill cautions that if you misuse these offers, you then taint your reputation with lenders going forward. We also learn more about some of the borrower behaviors that lenders study when making a lending decision. There is a common misconception that your personal borrower profile does not influence your business, but this could not be further from the truth. Merrill highlights how debt like mortgages, auto loans, and credit card debt directly influence your ability to get business credit. Along with this, we also cover some behavioral shifts that need to happen over 24 months for you to enhance your professional borrowing profile, how to unearth fake credit scores, and the expanded definition of ‘fundability.’ Be sure to tune in today!
Key Points From This Episode:
- Learn more about Merrill’s fascinating background and what his superpower is.
- Merrill’s tips on getting your business and personal profile in top credit form.
- If you can show up in stressful times, your lenders will remember you in prosperous ones.
- Insight into some of the 40 different borrower behaviors that lenders look at.
- Find out more about what Merrill does to help clients become ‘fundable’ in 24 months.
- How to move from being a reactive, unintentional borrower to a proactive one.
- The interlinked nature of personal and business credit.
- FICO scores versus FAKE-O scores: Why it’s important to know the difference between the two.
- How an auto loan and a mortgage make you a more likely candidate for receiving credit.
- Why you should always have a non-zero balance on your credit card at the reporting date,
- A recent business improvement, the biggest contributor to Merrill’s success, and giving back.
[bctt tweet=”Big brother is watching, and they want to know how you’re going to treat their money in a pinch. — Merrill Chandler” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Merrill Chandler
Over 25 years ago, Merrill Chandler—a personal and business credit pioneer and co-founder of Lexington Law Firm—became dissatisfied with the ineffective results of credit repair. Leveraging his extensive knowledge of borrower behavior profiles, FICO® scoring metrics, and lender underwriting requirements, he developed a process that could ‘optimize’ a consumer’s borrower behavior AND improve a borrower’s “fundability.” He founded GetFundable.com to deliver this revolutionary technology to real estate investors, business owners, and entrepreneurs nationwide. Merrill has helped thousands of borrowers become more FUNDABLE and help them access the capital they need to fulfill their financial dreams.
Love the show? Subscribe, rate, review, and share!
Join the Real Estate Syndication Show Community: