The banker’s straight answer, before you need it

Why Loan Ready exists

Most owners only learn how a lender sees their business when they apply, and a “no” often comes months into the process with little explanation. Loan Ready gives you the calm, plain-spoken assessment a good loan officer would give you across a desk, so you can fix weak spots first and walk in with a clear story. That can save months of back-and-forth.

Who we are

Loan Ready is built and run by 5 Cs Business Solutions Inc., a company based in New Brunswick, Canada. The name comes from the “5 Cs of credit”: capacity, character, capital, collateral and conditions, the framework lenders have long used to weigh a loan. Accountants, bookkeepers, business coaches and credit unions can also offer Loan Ready to their own clients.

How the assessment works

You answer questions about your monthly cash flow, the loan you want, your credit score range, your industry experience, and what you and the business own and owe. Loan Ready compares your answers with the kinds of benchmarks lenders commonly use for each of those areas, then gives you an overall score and a plain-language rating for each factor, with a concrete next step wherever something needs work.

• We never pull your credit. You pick your own score range, so using Loan Ready has no effect on your credit file.
• Your raw figures aren’t stored. They are used to calculate your result and then discarded. See the Privacy Policy for what we do keep.
• It’s a guide, not a decision. Every bank and credit union has its own standards and makes its own decision. The exact weightings and thresholds Loan Ready uses are kept private so the tool can’t be gamed.

New to the vocabulary? Every question is explained in loan terms in plain language.

Contact

Questions about the product or your account: support@beloanready.com. Questions about your information: privacy@beloanready.com.