Ah, lender compliance. Something most of us never think about until it smacks us upside the head with urgency and extreme importance. If you’ve ever started your own business, thought about starting your own business or are currently in the process of starting your own business, then you might have an inkling as to what we’re referring to here.
These two little words mean everything to a burgeoning business-to-be because without them, your business will not get the loan approval needed from the bank. Many a hopeful business owner (or, pre-business owner, rather) has walked out of a lender meeting having no idea as to why their application was declined. So, rather than standing around confused with your hands in your pockets, kicking up dust and scratching your head out side of the bank, we recommend learning a little about the lender compliance checklist and what it takes to get that golden ticket of approval.
While our range of expertise would make it tricky for us to help you navigate your way through the entire lender compliance checklist, we definitely can speak to the importance of having a business phone number. Without it, you most likely won’t be hearing, “You’re approved!” any time soon. Unquestionably, certifiably, and beyond a shadow of a doubt, the easiest and most efficient way to get a business phone number is with the help of a virtual phone system. By simply signing up for a virtual phone plan through Phone.com or as part of a virtual office plan from a company like Alliance Virtual Offices, you automatically get the necessary business phone number that will help you get the necessary “Yes.” What’s more, if you sign up for a virtual office, you get the lender compliance required business address as well.
Sure, you and your fledgling startup can navigate the hassles and strings attached to the more old-school and traditional business phone plans. But why go through extra effort, costs, and energy when you don’t have to? Within minutes of signing up – which also only takes minutes – you and your virtual phone number will be locked, loaded and ready for action. Even better, your lender compliance checklist will be that much closer to completion.
They say time is money, and thanks to the ease and affordability that come with a virtual phone and/or virtual office plan, you will save a lot of both.
Lauren McDuffie is the Communications Specialist at Alliance Virtual Offices, and writes original articles, copy, and blog posts geared toward helping mobile professionals and entrepreneurs work more efficiently and effectively. She lives in Indianapolis, IN with her husband, daughter, and two cats.