SCORE Dynamic Duo: Pre-Requisites to Secure Business Funding

Event description

Personal Credit and Proper Business Structure are essential for securing business funding, particularly for startups and small businesses. Lenders and investors often assess personal credit scores and reports to gauge the financial responsibility of the business owner, especially when the business lacks a strong business credit profile. A good to excellent personal credit score can significantly improve the chances of business loans, business lines of credit, and business unsecured credit card approval and favorable terms. Equally important, having a formal business structure that’s set up properly conducive to lending standards—adds legitimacy, separates personal and business liabilities, and opens doors to more funding options. Together, strong personal credit and a well-established business structure demonstrate professionalism and financial readiness, making it easier to access capital and grow the business.

Our Presenter, Terence Spencer

Terence Michael Spencer is a multi-dimensional leader with over 20 years’ experience in vastly different industries such as Athletics, Multi-level marketing, Formal Education, Real Estate, and Finance. He is the Founder and CEO of Expandemonium, a company that specializes in educating business owners and entrepreneurs on how to secure business funding to sustain and scale business operations--by emphasizing the three most common areas business owners fail to address, which hinders short-term capital momentum that leads to long-term financial success. In his spare time, Terence enjoys spending quality time with his beautiful and amazing wife, Heba Spencer, who he affectionately calls his “Egyptian Queen.” Additionally, spending time at the beach, and fishing whenever the opportunity arises. Last, but certainly not least, he has been blessed with a blended family of four amazing sons to build a legacy through. He states, "GOD definitely has a sense of humor! HE always gives us what we need, just not always in the package we thought it would arrive in."