Stop going to Banks for funding

@_trishonna

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SoundTikTok sound · original sound - _trishonna

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Why it worked

The video taps into a common pain point for entrepreneurs: difficulty securing funding. By contrasting the strict requirements of traditional banks with more accessible alternatives, it offers a solution and implies the creator has valuable knowledge to share, encouraging follows for more tips.

Summary

The creator advises against seeking business funding from traditional banks due to their stringent requirements. Instead, they highlight alternative lenders that offer more accessible funding options for minority, women-owned, and underserved businesses, with less demanding qualifications.

Structure

1Introduction: Stop going to banks for funding
2Bank requirements are too strict
3Alternative lenders offer better options
4Specific loan program details
5Conclusion: Choose the right lenders

Product placement

The video shows a screenshot of Bank of America's Business Advantage Credit Line qualifications, contrasting it with a different, more favorable loan program for underserved communities. The URL bankofamerica.com is visible.

Call to action

Follow me for more business funding tips

Original caption

How to get funding for a new or existing business✅ Stop going to a bank 😩 Follow me for more business funding tips #entrepreneur #business #businesstips

More from @_trishonna

On-screen text

Stop going to Banks for funding

Transcript

Stop going to Banks for funding. This is why you're not able to get funding for your business. Because you keep going to a bank. Let me show you why you need to stop going to a bank. Look at this. A bank says you have to be in business for two years. A bank says you need $100,000 in annual revenue. A bank says you have to have a 700 FICO score. Look at this. This is Bank of America. Do not go to a bank. But if you go to my lenders that I brag about, these lenders who support us, look at this. $250,000. For who? Minority, and other underserved communities. Businesses with less than 500 employees in both urban and rural locations. Businesses served by women and minorities. This program provides loans in amounts of up to 75% of the total project costs. The money can be used for startup costs, working capital, franchise fees, inventory, equipment and machinery, real estate purchase or construction/rehabilitation. Refinancing. Amortization period may be provided in gap financing. So again, babe, you don't have a bad business. You just are going to the wrong lenders. You need financial backing.