What exactly happens in underwriting? Here’s the truth behind the "black box."

If you’ve ever wondered if you will get funded for a loan, in this episode, Caroline and Brandi from CIC share what an underwriter really looks for - and how you can get approved faster.

Why are loans underwritten? It’s all about assessing risk. Lenders use a variety of means to understand if your business can handle taking on the debt - using ratios like DSCR (debt service coverage ratio), current assets, cash flow, credit history, additional income, and more. For lenders like CIC, we want to make sure that the amount of money that your business takes on will help you grow and is feasible to be repaid, and not going to be overwhelming and put you in a worse financial place.

It’s as much about the numbers as it is about the story behind them. At CIC, our team looks at a potential borrower's character and builds a relationship with them, which helps inform the underwriting process.

If the underwriting process ever felt mysterious or scary, we’re here to help. We believe transparency is everything, and knowing how it works and how to be better prepared can actually make the process less intimidating.

At its core, underwriting is about supporting your growth. We care about helping you understand your financial standing and what it takes to move forward.

Learn how to track your finances here: https://youtu.be/b9XXeVhNAII?si=9a1Jc0CsRdWdMgve

Check out our loan calculator here: https://cictucson.org/businesses-that-prosper

About the Host:

Caroline Nelson is the Chief Operating Officer and Director of Lending at Community Investment Corporation (CIC), a Tucson-based 501(c)(3) nonprofit that specializes in small business lending, crowdfunding, and alternative financing in Southern Arizona, including Cochise, Graham, Greenlee, Pima, Pinal, Santa Cruz, and Yuma Counties. Caroline is joined by Brandi Szymanzi, CIC's Rural Lending Manager, for this discussion.

Have a question about small business finance, a theme, or a quest expert you'd love us to have on the show? Submit it here! https://cictucson.org/coffee-with-caroline-submission-form

https://cictucson.org

#BusinessFinance #LoanApprovalTips #Underwriting101 #FinancialFreedom #SmallBizGrowth

Grab your favorite cup of coffee and join us online for a casual chat about all things small business finance. Caroline Nelson is here to share tips, answer your questions, and help you feel confident managing your business money.

This month, we’ll be discussing how to secure business funding without using personal credit. The topic was submitted by a listener and is likely something many current and aspiring business owners want to know more about. Join us as we explore why personal credit is often tied to business funding and the alternative options that may be available.

About the Host:
Caroline Nelson is the Chief Operating Officer and Director of Lending at Community Investment Corporation (CIC), a Tucson-based 501(c)(3) nonprofit that specializes in small business lending, crowdfunding, and alternative financing in Southern Arizona, including Cochise, Graham, Greenlee, Pima, Pinal, Santa Cruz, and Yuma Counties. Caroline is joined by Brandi Szymanzi, CIC's Rural Lending Manager for this discussion.

Dollars and Sense for Entrepreneurs, easy tools to track your small business finances: https://www.youtube.com/watch?v=b9XXeVhNAII&t=2s

Business Finance Resources: https://cictucson.org/business-finance

Learn more about CIC's Small Business Financing options: https://cictucson.org/businesses-that-prosper

Learn more about CIC's Kiva Southern Arizona Hub here: https://cictucson.org/kiva

Have a question or suggestion for an upcoming podcast? Submit it here! https://cictucson.org/coffee-with-caroline-submission-form

What does it take to fund a dream? In this episode, CIC Executive Director Danny Knee sits down with Kiva’s Entrepreneurial Ecosystem Associate Reteisha Byrd for a fast-paced conversation breaking down how Kiva works, for both borrowers and lenders.

Who should apply? How much can you raise? Do you need perfect credit? (Spoiler: no.) Plus, how anyone can become a lender and support entrepreneurs right here in Southern Arizona, or around the world.

If you’ve been thinking about starting or growing your business, this episode is for you.

Tune in and learn how community-powered lending is opening doors across Southern Arizona.

Learn more about CIC's Kiva Southern Arizona Hub here: https://cictucson.org/kiva

Find the full TENWEST schedule and get your tickets at www.tenwest.com

#CIC #Kiva #SmallBusinessSupport #TucsonEntrepreneurs #CommunityCapital #EconomicInclusion #WeKnowYourWorth