Success leaves clues. Finance Strategists sat down with Ty Crandall, CEO of Credit Suite. He shared his thoughts on the past, present, and future of the company, as well as the insights he has gained from running the business. Q: Who are you and what’s your background? My name is Ty Crandall, and I'm honored to have an opportunity to serve business owners as the CEO of Credit Suite. I have over 20 years of financial experience and have been recognized as an authority in business credit building, business credit scoring, and business lending. I’ve had the privilege of authoring two of the bestselling books on consumer and business credit, Perfect Credit and Business Credit Decoded, and have been featured on countless radio, TV, and news programs across the country, as well as Forbes, Entrepreneur, and Inc. At Credit Suite, my team and I have helped with business credit building for tens of thousands of clients and oversee the largest business credit provider network in the world. Q: Who has been your biggest influence, and why did they have such a significant effect on you? My parents have had the largest and most profound impact on my life. They’ve helped instill the values I still hold dear today. They taught me to work hard and truly live a life of service by helping others. They raised me to not complain about problems unless I was willing to propose solutions. And they’ve served as the dream role models, representing the type of person I want to be. Q: Knowing what you know now, what advice would you have given your younger self? I would advise a younger version of myself to never stop moving forward. Find a problem you’re passionate about solving and build a business dedicated to helping people overcome and solve that problem. There will be MANY challenges along the way and LOTS of times you’ll want to quit and give up, like almost all others will do. But just know, the key is to always move forward little by little. Yes, you’ll get knocked down. Yes, people and other obstacles will hold you back. And there will be times when the goal seems impossible to reach. But, with perseverance and driving ahead a little each day, you can outlast and overcome all of that and still help others and succeed. Q: What is Credit Suite? At Credit Suite, we’re dedicated to the belief that business owners should be able to get the capital they need when they need it. Business owners typically struggle to get the money they need to grow? That’s the problem we solve for entrepreneurs, now helping 50,000 business owners find access to the money they need to grow and thrive. We help set up businesses where they’re fundable and meet lender and credit issuer approval requirements before they even apply. We help business owners build business credit to improve their reputation in order that their business can fund itself in the future. And we help connect business owners with capital sources who want to give them money. Q: What separates Credit Suite from its competitors? At Credit Suite, we’re most well known for being one of the biggest financial educators in the industry. We produce a lot of valuable free information on how business owners can beat the banking system and get the most money at the best terms. We pull back the curtain and reveal how the lending system works and teach entrepreneurs how to master it to get the capital they need when they need it. We’re also unique in that we’re the only company that helps business owners master all three important aspects of getting money: improving findability, building business credit, and accessing lending products such as loans and credit lines. We make this happen with a unique blend of cutting-edge technology and coaching. Q: What led you to start Credit Suite? The first company I ever owned was a mortgage business. I owned that when the mortgage crisis of 2008 hit, and I saw firsthand what it was like to build a successful business and then see it fail due to factors beyond my control. I, like most business owners, personally guaranteed my business debts and got credit for my business that was reported on my consumer credit reports. So, when the business failed, it created a personal financial crisis for me as well. Business debts hit my personal credit reports and my consumer credit card companies lowered my limits to what I owed, destroying my personal credit profiles and scores. Business debtors cleaned out 100% of the money in my personal bank accounts, leaving me financially devastated. I made a decision right then and there to dedicate my time and efforts to helping others. I opened a consumer credit improvement business, and along the way, I discovered business credit. Then I realized if I had known about business credit and used it, my business failures wouldn’t have caused a catastrophic collapse of my personal finances. Ever since, I’ve dedicated my professional life to educating business owners on how business credit works and helping them obtain it, and separate their business and personal liability. Q: What has the experience of building the business taught you? Building a business has taught me so much. I’ve learned how accessible information and solutions are through books and other training. I’ve seen how anyone can reach major levels of success when they’re truly in business to help others. I’ve discovered that success happens when business owners are willing to push through the hardest and darkest of times, knowing there’s a light on the other side. I’ve seen how ambition and perseverance alone can help anyone willing to work hard enough succeed. Most importantly, I’ve learned how rewarding life can be if you use your talents and skills to solve problems and make a positive impact on others’ lives and the world. Q: Where do you see things headed for you and the company in the next five years? At Credit Suite, we’ll continue building solutions that simplify a business owner's ability to get capital. We’ll get the approval decision data that lenders and credit issuers usually keep private, and help entrepreneurs use it to radically improve their chances of qualifying for credit and lending. We’ll create the best pre-screening tool that business owners can use to know they'll meet lending standards before they even apply. And we’ll create the best matching system to help business owners match their individual situations with the best funding options they can get to grow their business. Check out creditsuite.com for more information.
Introduction
Who is Ty Crandall?
Business
True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.
True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.
To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.
