Unbiased Guidant Financial Review: Your Trusted Insight into Business Financing Solutions
Deciding on a business financing partner is critical. In this guidant financial review, we cut through the industry jargon to provide you with a clear assessment of their services, customer experiences, and value for your enterprise. From SBA loans to ROBS plans, we explore the essentials, question the company’s transparency, and lay out the real feedback from business owners like you.
Key Takeaways
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Guidant Financial offers tailored business financing options, including SBA loans, ROBS plans, and equipment leasing, catering to the needs of different businesses and franchises with a focus on efficiency and accessibility.
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Eligibility for Guidant Financial’s financing services generally requires a personal credit score of 680 or higher, specific business scores, and additional assessment criteria, and the company maintains transparency in terms and fees.
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The company’s dedication to customer service is reflected in its comprehensive support, educational resources, and management tools, notwithstanding varying client experiences and a commitment to resolving any issues in collaboration with the Better Business Bureau.
Exploring Guidant Financial’s Business Financing Services
Guidant Financial is a one-stop-shop for all your business financing needs. From small businesses to franchises, Guidant Financial has tailored its services to cater to the specific needs of different businesses. The company offers a wide range of funding options, including SBA loans, ROBS plans, and equipment leasing, thereby making the dream of starting a business more accessible. Their commitment to providing efficient and effective solutions has made them a preferred choice for many business startups.
Whether you need funding for a franchise or a business start up, Guidant offers suitable solutions.
SBA Loans: The Path to Your Business Dreams
A popular choice among small businesses and entrepreneurs, SBA loans are a path to realizing your business dreams. Guidant Financial offers various SBA loan programs, including SBA 7(a) Loans, SBA Working Capital Loans, and SBA Express Loans. These loans are an attractive financing option due to their low-interest rates and flexible terms. Offering up to $5 million in funding, these loans are designed to give your new business the financial boost it needs to succeed.
Interest rates for SBA 7(A) loans are competitive, generally ranging from Prime + (3% to 6.5%), making Guidant Financial’s SBA loans a compelling choice for business financing.
ROBS Plans: Unlocking Retirement Funds for Business Use
Guidant Financial’s ROBS (Rollovers as Business Startups) plans open up a world of possibilities for entrepreneurs. These plans allow you to:
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Leverage your retirement assets to fund your business dream without incurring taxes or penalties
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Use your retirement account funds to acquire a business
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Become an employee of the business, receive a salary, and allocate a portion of that salary back into your retirement plan
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Invest in your business without depleting your retirement savings
Appropriate guidance and structuring can minimize or even eliminate the risk of incurring tax penalties associated with a ROBS plan.
Equipment Leasing Solutions
Guidant Financial also offers equipment leasing solutions, which can be a game-changer for many small businesses. These programs provide flexible two- to five-year terms with fixed payments, enabling businesses to acquire the equipment they need without the burden of upfront costs.
Guidant Financial’s equipment leasing solutions, which cover a wide range of equipment and reach up to $2 million, cater to diverse industries, offering businesses a versatile option.
Qualifying for Guidant Financial’s Financing
Despite the variety and robustness of Guidant Financial’s financing options, understanding their qualification requirements is fundamental. These requirements include:
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A personal credit score of 680 or higher
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A business score of 160 for SBA loans
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Guidant Financial also assesses your credit history, assets, and loan application history to determine your eligibility for their financing options.
Therefore, before settling on a financing option, ensure you meet these requirements.
What You Need for an SBA Loan
To qualify for an SBA loan with Guidant Financial, there are a few key requirements. In addition to a minimum personal credit score of 680 and a minimum business score of 160, you need to provide collateral, which could be personal assets such as your home.
Furthermore, your business plan should:
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Detail your funding request
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Give a background of the business and the challenges it faces
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Justify the need for the SBA loan
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Outline a strategy for how the loan funds will be used.
Are You Eligible for a ROBS Plan?
If you’re considering a ROBS plan, there are specific eligibility requirements to keep in mind. First, you need to have an eligible retirement account, like a Roth 401(k), 403(b), 457(b), SIMPLE IRA Plans, Keogh plans, or other qualified retirement plans. Additionally, your business needs to be a C Corp. With these requirements in place, you can use a ROBS plan to invest your retirement funds in your business without incurring taxes or penalties.
Transparent Terms and Honest Fees
One of the standout features of Guidant Financial is their transparency in terms and fees. With Guidant Financial, you can expect full knowledge of the costs, ensuring there are no unexpected charges. The company also provides clear information on their service agreement and website about the costs of their SBA loans and ROBS plans.
However, it’s important to note that there may be additional costs such as franchise fees not explicitly stated in the advertised price and consulting fees for loan assistance.
Understanding SBA Loan Costs
Understanding the costs associated with an SBA loan is crucial for making an informed decision. With Guidant Financial, the costs of an SBA loan include:
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Interest rates, which are determined based on the daily prime rate set by the Federal Reserve, in addition to the lender’s spread, leading to a variable rate.
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Fees, such as the SBA guarantee fee, the 7(a) Lender’s Annual Service Fee, and packaging fees.
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Generally, these loans do not entail a prepayment penalty if the terms span less than 15 years.
It is important to consider these costs when evaluating whether an SBA loan is the right option for your business.
The Price of Using Your Retirement Money
If you’re considering a ROBS plan, understanding the costs involved is essential. Implementing a ROBS plan at Guidant Financial involves a one-time setup fee of $4,995. Additionally, there are ongoing maintenance fees that range from $100 to $200 per month. These fees cover plan administration.
Understanding these costs enables you to make an informed decision on whether a ROBS plan is the fitting financing solution for you.
Navigating the Application Journey
The application process for financing with Guidant Financial consists of several steps. The process begins with prequalification, where you complete a pre-qualification survey and online assessment. This process can take up to 24 hours for an SBA-backed loan.
After prequalification, Guidant Financial presents a comprehensive overview of your financing options, paving the way for you to proceed with your loan application.
From Inquiry to Prequalification
The journey to securing financing begins with an inquiry. To start the prequalification process, you need to complete Guidant Financial’s pre-qualification survey. Once the survey is submitted, you can expect to receive preliminary loan results, including funding amounts and timelines, within 24 hours.
The prequalification process gives you a clear idea of your financing possibilities and helps you make an informed decision.
Finalizing Your Financing
Following prequalification, the subsequent step is finalizing your financing. This involves completing a full loan application package and providing certain documents like a stock transfer ledger, proof of down payment funds, entity documentation, franchisor agreement (if applicable), lease or property ownership details, and more.
The duration for finalizing a financing deal with Guidant Financial varies, with SBA loans typically requiring a minimum of twelve weeks for completion.
Commitment to Customer Service Excellence
Guidant Financial takes pride in its commitment to delivering exemplary customer service. The company offers dedicated support from a team of financing experts who are accessible via phone and email during business hours. Whether you have questions about the financing options or need help understanding the terms of your loan, Guidant Financial’s team is ready and willing to assist.
Accessing Support When You Need It
In terms of customer support, Guidant Financial exceeds expectations. The company provides:
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Dedicated account managers who offer sales support and assistance to clients
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Direct contact with your account manager for any queries or information you need
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The option to visit the Guidant Financial office for in-person support
Guidant Financial offers an online learning center with a variety of resources, including:
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Comprehensive guides
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Financing calculators
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Videos
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Infographics
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Webcasts
These resources provide you with a wealth of information at your fingertips.
Educational Resources and Account Management
Guidant Financial offers the following resources and tools:
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Comprehensive learning center with complete guides on business buying and financing options
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Resource library
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Webcasts on small business and franchise financing
In terms of account management, Guidant Financial offers a range of tools and services like 401(k) plan administration, accounting services, payroll management, and more, all supported by expert service. These additional offerings are part of Guidant Financial’s commitment to helping clients succeed.
Real Client Experiences with Guidant Financial
Real client experiences offer valuable insights into a company’s performance. Guidant Financial has a mix of positive and negative client experiences. On one hand, there are success stories and high praise for their services.
On the other hand, there are areas where improvements could be made, particularly in terms of customer service and handling phone calls.
Positive Feedback: Success Stories and Praise
Guidant Financial has received positive feedback for its services. Clients have expressed satisfaction with the excellent customer service, knowledgeable and professional team, and valuable guidance provided throughout the process of starting their own business. The company has aided over 16,000 clients, including NODA Brewing Company, in achieving their dreams of owning a business.
These success stories speak volumes about the positive impact Guidant Financial has had on businesses.
Constructive Criticism: Addressing the Complaints
While there has been a lot of praise for Guidant Financial, the company has also received constructive criticism. Some clients have raised concerns regarding:
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Systems and processes
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Inconsistent instructions
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Elevated fees
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Perceived subpar customer service
However, Guidant Financial takes these complaints seriously and works closely with the Better Business Bureau to resolve disputes in a timely manner.
They also track and manage customer feedback effectively using Groopit, demonstrating their commitment to improving their services and customer experience.
Guidant Financial’s Industry Standing
Guidant Financial’s high reputation in the industry attests to its commitment to offering superior financing solutions. The company is accredited by the BBB and has an A+ rating, reflecting its positive evaluation from the bureau. Furthermore, Guidant Financial has established partnerships with various industry organizations and has been acknowledged for its excellent customer service and extensive legal and audit support.
Accreditation and Ratings
Guidant Financial’s commitment to excellence is reflected in its accreditation and ratings. The company holds BBB accreditation and has received an A+ rating, the highest possible rating from the Better Business Bureau.
This accreditation demonstrates Guidant Financial’s commitment to meet and exceed the bureau’s high standards for fair and honest business practices.
Endorsements and Partnerships
Guidant Financial’s standing in the industry is further bolstered by its endorsements and partnerships. The company has established partnerships with:
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franchisors
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business brokers and consultants
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lenders
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CPA professionals
It has also received significant endorsements, further solidifying its status as a trusted leader in small business financing and self-directed IRAs.
Additional Offerings: Beyond Financing
Beyond its solid financing options, Guidant Financial extends a variety of other services. These include:
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Business valuation services
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Support services to aid the sale of a business
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Small business services such as 401(k) plan administration, accounting, payroll, and other related services.
These additional offerings complement Guidant Financial’s financing solutions, providing clients with a comprehensive suite of business services.
Guidant Financial Review Summary
To sum up, Guidant Financial provides a diverse range of services designed to address the unique needs of small businesses and franchises. Their services include:
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Business financing
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Retirement funding
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SBA loans
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401(k) business financing
Guidant Financial is known for their transparent terms and fees, as well as their dedication to excellent customer service. They are a trusted choice for business financing.
However, like any company, there are areas where improvements could be made, particularly in terms of customer service. Despite these challenges, the company’s commitment to addressing customer complaints and their efforts to provide comprehensive support make them a strong contender in the business financing industry.
Summary
Guidant Financial’s dedication to supporting small businesses and franchises through their range of financial services is evident. Whether it’s through their SBA loans, ROBS plans, or equipment leasing solutions, Guidant Financial is committed to helping entrepreneurs realize their business dreams. However, it’s important to thoroughly understand the terms and fees associated with these financing options and ensure that you meet the eligibility requirements before proceeding. Despite some customer service complaints, Guidant Financial’s commitment to resolving these issues and improving their services demonstrates their dedication to their clients. In conclusion, with its range of services, transparent fees, and commitment to customer service, Guidant Financial is a strong choice for business financing.
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Frequently Asked Questions
Who owns Guidant Financial?
David Nilssen and Jeremy Ames are the owners of Guidant Financial, starting the business in 2003 with the aim of helping entrepreneurs achieve small business ownership.
What attracted you to apply for Guidant Financial?
I am attracted to apply for Guidant Financial because of its dedication to helping people reach their financial goals. I believe I could be a valuable asset to the team and I am excited to learn more about the financial industry.
What is the annual revenue of Guidant Financial?
Guidant Financial’s annual revenue is $29.4M, according to Zippia’s data science team.
What does Guidant do?
Guidant Financial provides small business funding solutions, including SBA loans, unsecured loans, and equipment leasing, to help individuals start, buy, or grow a business. They specialize in educating business owners on customized funding options.
What types of financing options does Guidant Financial offer?
Guidant Financial offers a variety of financing options, such as SBA loans, ROBS plans, and equipment leasing solutions. Consider exploring these options to find the right fit for your financing needs.
