J. Galt is Working to Revolutionize Small Business Credit

Written by: Brady Drake
Brett Colliton, Regional Managing Partner, J. Galt Finance Suits

If you don’t know about J. Galt Finance Suite, you should.

Improving credit is crucial for businesses as it directly impacts their ability to secure financing, negotiate better terms with suppliers, and manage cash flow effectively. Traditionally, businesses strive to enhance creditworthiness through methods like timely repayment of loans, maintaining low credit utilization ratios, and ensuring accurate financial reporting. However, these traditional approaches can be challenging, especially for small businesses with limited resources or those just starting. This is where a company like J. Galt steps in. J. Galt specializes in helping small businesses navigate these complexities by providing tailored strategies such as offloading credit risk, optimizing cash flow, and guiding through the intricacies of credit building. Their expertise not only simplifies the process of improving credit scores but also equips businesses with the tools and knowledge to sustain healthy financial practices and help them operate like a large corporation.

Haven’t you heard of them? That’s because they’re new to the area and Regional Managing Partner Brett Colliton is leading the charge. We sat down with him and J. Galt Executive Vice President Gary Schneider to learn more.

Did You Know?
Brett Colliton used to be the VP & COO of Avalon Events Center

Can you tell me about J. Galt?

Brett: J. Galt is a software as a service. We help small to medium-sized businesses build credit, which is something that some people have never really heard of before, especially in the Midwest where we’re so used to doing traditional banking. J. Galt has been around for about eight years, but the current iteration of the company has been around for about two years. We help business owners grow, scale their business, and run more like a large corporation. It has been a lot of fun introducing it to the Midwest here.

Gary: This is new to your market but it has actually been tried and tested for some time now. What we’re doing is actually mainstream for larger companies. In the past, typically $25 million in revenue is sort of like an unofficial cut-off for these types of services. All of those companies were required to build whatever credit was based on the strength of the owner and the personal guarantee. And yet, the larger companies really never had to do that. What J. Galt is able to do is to bring that same capability through a process that we have. We can help small businesses get the same kind of credit capacity with no personal guarantees that the larger companies have.

How do you do that?

Gary: It’s actually a very methodical process. We take people through a series of seven steps that we know will build credit. We audit the company first and make sure the credentials are right, and then we submit those credentials to the business credit bureaus. We then make sure that credit transactions are reported to the business credit bureau, that’s what’s usually lacking.

What does your ideal business partner look like?

Brett: Any business that spends money, which is everyone. Or, any business with personal guarantees, which is almost everyone. Those are the two primary factors.

Is there anyone in town doing anything similar to what J. Galt is doing?

Brett: We are the only ones. It has been something that’s been available to large corporations for decades, but it has never been made available to small businesses before.

How should interested businesses prepare to work with J. Galt?

Brett: We take care of all the steps for them. We make sure that we do that audit. We make sure that they are ready for something. We’re not going to advise a small business that really can’t use us or isn’t big enough. We’re never going to tell those businesses to come on board.

Gary: It really has to be a good fit because one of the features that we think differentiates us is that we provide a money-back guarantee. So, we not only say what we’re going to do, but we back it up. If we don’t deliver within a prescribed period of time, usually one year or less, we will have worked that entire year for free.

To Learn more, visit jgalt.io/bcolliton

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Brady is the Editorial Director at Spotlight Media in Fargo, ND.