2010 April | Hawkeye Management

Credit Advice… 0

Be careful where you get your credit advise from. I read this today:

http://shine.yahoo.com/channel/life/7-ways-to-boost-your-credit-score-1313940/

I’m sure it’s well-intended but the first item suggests getting your FICO score. I like that. In fact, I suggest it too. So what’s the problem? Well, when they say that you can buy your Experian, TransUnion, and Equifax FICO scores on this site then it just goes to show that the author is behind the times. It’s been over a year since Experian decided not to renew their consumer contract with Fair Isaac so for over a year now we as consumers have not been able to purchase our Experian FICO scores on myfico.com AND we cannot purchase our Experian FICO’s anywhere else online either. Any credit score that you purchase for your Experian report is NOT a FICO score…and since none of the non-FICO scoring models that are available online are being used by banks and lenders they are pretty irrelevant.

If you’re a small business owner then your personal credit is a foundational piece of almost all of your lending solutions. Get your advise from someone who’s truly an authority…and just because they published something online or have written a book DOES NOT mean that they are an authority.

Check us out if you need a small business loan, or unsecured business lines of credit.

Tom Gazaway, CCEW, CMPS, XCO

Hawkeye Management

Blackwood, New Jersey

Posted on: 04-26-2010
Posted in: Credit

Unsecured Business Loans 0

Hey everyone…
We just recently rolled out a new unsecured business loan program so now we have that in addition to our unsecured business line of credit programs. It gives you access to 9 different lenders that offer different kinds of unsecured loans for you. The FICO scoring requirements are lower and more flexible than the line of credit scoring requirements so it’s also a great program for people that want to or need to consoldate credit card balances. We provide free removal of your inquiries with Transunion and Equifax with this package as well. In case you don’t know, the #1 reason why people with high FICO scores (750 and up) are denied for unsecured business lines of credit is for having “too many recent inquiries”. There’s also a bonus included in the loan package that you’ll have to ask about.

Come check us out at www.hawkeyemgmt.com and see what we do.

Posted on: 04-19-2010
Posted in: Unsecured Business Loans

Where to find your FICO’s online 0

Here’s the 3 places you can find your FICO score online:

1 – myfico.com – you can purchase your transunion and equifax FICO’s here.

2 – equifax.com – you can only buy your Equifax FICO here…not the other two.

3 – transunioncs.com – this one is VERY rarely found and used. Notice the “cs” behind transunion this stands for consumer services. You won’t find this site mentioned anywhere on the transunion.com site so it’s pretty hard to find.

It’s probably worth noting that there’s nowhere we can purchase our Experian FICO scores online. They pulled back from their consumer agreement with Fair Isaac (FICO scores is acronym for Fair Isaac Company) last year.

When you monitor your credit it’s probably best to not plan a FICO monitoring being a big part of that monitoring. myfico.com does offer their scorewatch product so there’s some potential if you use that product. I’m not a big fan of it but it’s available. Also, equifax.com does offer some FICO score options with some of their credit monitoring products. The problem is that their site is so slow and, in my opinion, their layout and format is not nearly as easy to use. If you’re at all concerned about paying attention to your FICO scores just remember you can always purchase them (at least 2 out of the 3 anyway) on myfico.com whenever you want them.

Have any question about small business loans or unsecured business credit? Give us a shout.

Posted on: 04-5-2010
Posted in: Credit

Do you know where to find your FICO score? 0

Here’s a challenge: Do you know the 3 places you can buy FICO scores online? There’s only 3 sites. On one (the most popular) you can buy Transunion and Equifax FICO scores. On another you can only buy your Equifax FICO score and on the third site (I’ll be surprised if anyone knows this one) you can only buy your Transunion FICO score. There’s nowhere online where your Experian FICO score can be purchased.

Tune in tomorrow for answers.

Have any questions about business credit or small business Loans? Give us a shout.

Tom Gazaway CCEW, CMPS, XCO

Hawkeye Management

http://www.hawkeyemgmt.com/

888-783-1503 toll free

Posted on: 04-3-2010
Posted in: business credit, Credit

Guarantees… 0

I saw an interesting “warning” recently on a website of a competitor of ours. Here’s what it says – and, of course, my response will follow:

WARNING: Anyone or any other Company out there making promises or guarantees to you regarding Approval Amounts or Time Frames is deceiving you – Hold on to your Wallet! No one can promise you any particular Approval Amount or Time Frame until you are actually Approved and Funded – That’s the bottom line and anyone claiming otherwise is deceiving you or stretching the truth at the very least. Here at blahblahblah.com we don’t play that game – We tell you the Truth, whether you like it or not.

I really think that sounds great. In fact, it’s really good. There’s parts of this paragraph that I even agree with. This is a perfect warning that reveals how we are different at Hawkeye Management. First of all I agree that you cannot and should not “promise” or “guarantee” that any one individual loan application will be approved. However, when a VERY THOROUGH pre-qualification is done by an expert who truly understands what the goal is and is seasoned at closing the kinds of loan products being sought then there’s nothing wrong with extending a guarantee.

We offer guarantees to each of our clients. It’s not always the same guarantee but normally it is because we’re looking for some specific types of clients who we know we can help with a type of product that almost everyone wants and could use. Guarantees are usually only as good as the people offering them so my advise is to work with someone whom you feel is both an expert and leader in their field and also who you feel is trustworthy.

We’re not a new company but nor are we a mega-sized company and, to date, we’ve never been unable to make good on our guarantees. We’ve certainly faced challenges and we sometimes set the bar lower than other times but we believe that if you have confidence in your ability to evaluate the borrower and then you’re confident you have a product that will work for them then you should be willing to stand behind your work.

I am not saying that you can always offer guarantees and nor am I saying that if you don’t offer guarantees that there’s a problem. I’m only pointing out that we are willing to do what this website says should not be done.

Come check us out at www.hawkeyemgmt.com. We offer a FREE, no-obligation pre-qual that will allow you to know what some of your unsecured lending options are, including small business loans and unsecured business credit lines.

Tom Gazaway CCEW, CMPS, XCO
Hawkeye Management
888-783-1503 toll free

Posted on: 04-1-2010
Posted in: Miscelaneous

Purchase Order Financing… 0

Here’s a great article about a popular form of raising capital for small businesses. It’s called Purchase Order Financing – PO Financing or sometimes PO Factoring for short.

http://www.nytimes.com/2010/01/31/business/smallbusiness/31order.html

Like many other kinds of financing, there’s a time and place for it. But, as the article points out, it’s not cheap. Let me say that again, it’s NOT CHEAP. We obviously don’t offer any PO financing solutions at Hawkeye Management. However, anyone considering PO Financing or who has done some PO Financing should contact us for a few different reasons.

1. You want to make sure it’s your best (or probably only) option
2. You want to position yourself to not have to do this high-cost form of borrowing again so if you let us assist you we might very well be able to transition you to bank financing much quicker.
3. We might be able to provide some or all of the financing you need at a mere fraction of the cost.

At Hawkeye Management we specialize in unsecured business lines of credit and unsecured business loans. Come check us out at www.hawkeyemgmt.com and learn more.