The Secret Weapon That Can Help You Get a Better Business Loan

by Gerri Detweiler

Carolyn Walters’ small business clients know they can ask her more than just tax questions. While “tax is the heart and soul of what I do,” she says as the owner of Financial Solutions Accounting and Tax in Greensboro, NC, she has expanded her business to offer a variety of different services.

“The challenges that small businesses have usually end up in my lap one way or another,” she says with a chuckle.

Walters wants to be the first resource her small business clients turn to when they have questions about small business financing and credit. “Quite a few of my clients are looking at ways to expand and grow their businesses, and that takes money,” she says.

Some of them have the funds they need to grow, but others will need to borrow. And even those who don’t have to borrow may find it advantageous to do so. “If you can get credit at low rates and still maintain the integrity of the business goals you are trying to accomplish, it may make sense,” Walters says. 

Research by the Federal Reserve has found that accountants are among the top sources of financing advice for small business owners. It has also found that for many entrepreneurs, searching and applying for funding is a frustrating process that takes many hours out of an often already full schedule. In fact, around one in five entrepreneurs are so discouraged about the process that they don’t even apply.

Over the past several months, through Nav’s Accounting Professional Advisor Program, I’ve worked with hundreds of accounting professionals like Walters who are eager to help their clients with their business financing challenges. I want to make sure entrepreneurs know they may have a secret weapon in their contacts list—their accounting professional―who can help make the financing process smoother and help improve their chances for success.

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About the Author

As a nationally recognized credit expert, Gerri Detweiler has been helping individuals leverage credit to their advantage for more than twenty years. She is currently Head of Market Education at Nav, which provides small business owners with free tools–including personal and business credit scores–and helps them find the best business credit cards and best business loans. She has written five books, including her newest, Finance Your Own Business: Get on the Financing Fast Track and has been interviewed in more than 3000 news interviews.

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