Businesses with Established Credit Profiles Have More Credit Options

Businesses with established business credit are prepared for getting additional business financing. They are also more likely to get financed when they apply, regardless of what type of business funding they apply for. Whatever type or size of business you have, establishing and maintaining good business credit is the savvy businessperson’s tool to get things done when you need to get them done, not when your business can afford it. Who doesn’t need money for their business?

 

Business credit loans with superb rates and extremely flexible terms are available to businesses with good, established credit profiles. Business lines of credit opportunities abound, each offering more flexible and lower terms than the last. Lenders offer the best terms of credit to businesses with good and properly structured credit histories.

 

Why is it then, that up to ninety-seven percent of all applications for business credit declined? It is because the business owners thought they were building business credit when in reality they were really running their business off of their personal credit rating or “From Hip National Bank”. They may have been in business for 20 years and still not have much, if any, business credit if they didn’t start out building credit the correct “10 Steps Way”.

 

If you’re not sure there is an easy way to find out. Call the credit bureaus and get a copy of your personal credit history. Do you see any of your business credit cards or lines of credit listed in your personal credit file? If any of the “so called” business cards or lines appear on your credit – your not using or building business credit. Likewise, this means if you have a bad run of luck in your business, your personal credit is going to suffer as well. Business credit loans don’t show up on your personal credit.

 

Next, you need to know what really is listed on your business credit profiles. It’s time to call the business credit reporting agencies such as Dun and Bradstreet and Experian. You will see what items are being reported on your business credit report, and which ones aren’t.

 

It is never too late to start building your business credit. Establishing business credit lines will benefit your business whether it is two months from the grand opening or two generations old. Establishing good business credit is a great investment in your business, your family and yourself.

 

As the Nations Leading Expert in Business Funding, Pat Gage has created a system for raising unlimited money for any business. The system is called “10 Steps To Money®” and has assisted many of his students and himself in raising hundreds of thousands of dollars for their businesses. Pat is not only a sought after business funding expert but also a national speaker and frequent radio show guest. For more information on any topic discussed, visit Pat Gage’s site at http://www.10StepsToMoney.com

Why a Business Line of Credit is Important for Every Business

Many small business owners are not concerned about their business credit or know what Business Credit is until they need to get a business line of credit or money for their business. Businesses of all sizes need to have a credit line with at least one lender as soon as they can acquire it. Lines of credit help build your business’s credit profile, and can pay for needed materials and equipment, that can help grow your business.

Before you can develop a line of credit for your existing business, your business will need to be set up as a business. Legally. This means you need to have a business phone and address that matches your state and/or county records. Consistency is key when setting up your business entity correctly in the eyes of the financial institutions. Banks will and do check these along with 17 other items to see if your business is a real business.

A business line of credit is usually a set amount of money that you can borrow up to. You can use this line of credit all at once, or over a period of time. In this way, lines of credit differ from loans. They behave more like credit cards, but you do not have the plastic and high interest rates. Your limit on a business line of credit stays the same, but the amount that you have withdrawn from that line of credit varies, and your payment will probably vary, too.

Have a line of credit for your business available before your business needs it. A line of credit can save your business during the slow season or help you survive those first few critical years when your business is either feast or famine. Remember these Business lines of credit don’t appear on your personal credit report!

Get the basics you need for obtaining business credit, then start looking for financial institutions that offer a lines of business credit. Once you obtain your business line of credit, you can consider business opportunities that were simply not possible before.

As the Nations Leading Expert in Business Funding, Pat Gage has created a system for raising unlimited money for any business. The system is called “10 Steps To Money®” and has assisted many of his students and himself in raising hundreds of thousands of dollars for their businesses. Pat is not only a sought after business funding expert but also a national speaker and frequent radio show guest. For more information on any topic discussed, visit Pat Gage’s site at http://www.10StepsToMoney.com

Credit Options for Starting a Business

If you are considering starting a business, you may be surprised by the financing options available to your business before you ever open your doors. To get credit for business start-up and initial operation, you need to do three basic things:

Register your business as a legal business entity. DBA’s do not qualify for business loans. You should also have a business phone listing that matches your business’s physical address. Lending institutions use the national 411 directory to verify this information. Finally, develop a line of credit with your vendors and service providers.

But, you think, I need the money from the loan to do these things! Lenders understand this and offer credit for business start-up. To get this type of loan, you will have to have a sound business plan that includes how you intend to spend the start-up money (equipment, staff, computers, utilities, etc.). Show how you will make money with the financing from their loan. A good source for these types of loans is the SBA. You will need a good personal credit rating in the beginning, unless you use one of the various bad credit business loans available.

You should also get business credit cards by using your business’s information. To build your business credit, you want business credit cards with your business name on it. It is very important that this be a business card, not one with your personal name on it, to help your business establish credit.

You can and should apply for a business line of credit, even before you pay off your initial start-up business loan. By establishing this additional business credit line, you offer yourself some financial protection should your business need it in the future. If you wait to apply for a line of credit until you need it, your business will be less apt to qualify.

If your business needs more capital than your unsecured line of credit can provide, there is even a secured business line of credit option. This line of credit is secured by the collateral you have in your business. A secured business credit line is similar to a home equity line of credit, with a couple of exceptions. You can get a higher capital amount with a secured business line of credit. Plus you would never want to use your personal home equity to fund your business. This is not a good business practice. You would then be commingling funds and lose business tax benefits as well.

When starting your business, start building your business credit at the same time. Soon, you will qualify for business credit lines that can take your company to the next level.

As the Nations Leading Expert in Business Funding, Pat Gage has created a system for raising unlimited money for any business. The system is called “10 Steps To Money®” and has assisted many of his students and himself in raising hundreds of thousands of dollars for their businesses. Pat is not only a sought after business funding expert but also a national speaker and frequent radio show guest. For more information on any topic discussed, visit Pat Gage’s site at http://www.10StepsToMoney.com

Using Business Credit Cards Effectively

Obtaining business credit cards is one early step towards building your business credit. This is not the same as using your personal credit to obtain a credit card with your business name on it. Obtaining a business credit card relies on your business credit information, not on your personal credit information.

When you are beginning your business, you will probably need to use your personal credit. After you have fulfilled certain basics, your business should rely on itself for credit.

These basics include incorporating your business as a legal business entity. This does not include DBAs (individuals Doing Business As company x). Consult a local business attorney about incorporations are available in your state.

Another basic for building business credit is establishing a business phone that matches your business address in the national 411 directory. Having a “Home Office” address are okay, too. Just make sure you are listed as a business in 411 and that your information is correct at the state and county levels. Always give lenders this same information.

The last basic step involves building credit with your vendors. If you are in the service industry, you can develop accounts with your office supply, Internet, and phone service providers. Otherwise, get a credit account with your suppliers that you may already be using.

Now you are ready to apply for a business credit card. Use all business information on the business credit card application. Use business sales numbers, list other business assets and liabilities. Use the Debt To Income Ratios that are in the 10 Steps To Money System to ensure accurate figures that the bank will approve. List business creditors (your vendors) and use business references. Simply put, make your business stand on its own when obtaining business credit.

Once you have a business credit card or two, use them for business expenses only. Carry some balance on them month-to-month, but plan on paying almost all of it off monthly. Do not use your business credit card to purchase items for which you could otherwise obtain business financing. Your long-term goal should be to establish solid overall credit for your business.

Establishing solid credit for your business is relatively easy to do if you start by following the three steps above. Then get business credit cards to further build your business’s credit. With good business credit as your foundation, you are now ready to get a business line of credit that does not depend on your personal credit.
While a business credit card is a great tool for using credit for business purposes, as with any tool, use your business credit card wisely and it will serve your business well.

As the Nations Leading Expert in Business Funding, Pat Gage has created a system for raising unlimited money for any business. The system is called “10 Steps To Money®” and has assisted many of his students and himself in raising hundreds of thousands of dollars for their businesses. Pat is not only a sought after business funding expert but also a national speaker and frequent radio show guest. For more information on any topic discussed, visit Pat Gage’s site at http://www.10StepsToMoney.com

A Financial Boost Towards Your Business Dream

What would you do with an additional $30,000, $50,000 or $100,000 or even more in business capital? 

Would you buy that equipment your business desperately needs? 

Would you hire that assistant so you wouldn’t have to work 70+ hours a week and on weekends? 

Would you pay off some bills?  Taxes perhaps?

Would you launch an advertising campaign to bring in more customers or clients? 

Would you buy residential or commercial property?

Is the lack of small business credit holding you back from growing your business or perhaps the thought of even starting a new business? 

What would you do with an extra 30, 50, $100,000 or more in your bank account right now or the availability of a line of business funding (credit)?

While you may think this is an impossible dream, the reality of having a business credit line may be much closer than you think.  The key to having this kind of extra money ready to spend for your business is in knowing the secrets to be able to acquire these business lines of credit.

Securing business lines of credit or funding can seem daunting when you are first starting on this path, but with a few small steps, and a little patience, you will be able to secure the money you, your business and family deserve.

The first thing you need to do is make sure your business has it’s own credit profile and history. What we need to do is to build your business credit up enough were your personal credit becomes obsolete.

My 10 Steps To Money System assists you in making that separation between personal and business credit. The goal is to rely and build your business credit more than your personal credit. You as a business can borrow a lot more than you can as a person.

It’s time to do a credit check on your business. Pull your business’ Dun & Bradstreet Credit Profile and see what it says about your business, banks already know. Don’t have a D&B Credit Profile for your company?  A D&B Credit Profile is your business’s credit report, just like your personal credit report is for you. You need to get one!

As you build credit for your business, you will suddenly find a new world is open to you. Instead of having to pay with cash or capital for each purchase you have to make, you will instead be able to use business lines of credit and pay as you go. This means you will have money, ready to go, when you need it, but don’t have to use it (or pay interest on it) until that time comes. This is the way large businesses work, why shouldn’t you be using their business credit line tricks?

While you may be thinking you can get the same thing by having a personal credit card, you’d be wrong. Unlike a personal credit card, a business line of credit, whether through a bank, or credit card company (such as the Open American Express card), will be giving perks for being a business account. Some of those perks can include convenience checks. Sure, you’ve seen those with your personal credit card, but when you use ‘cash advance checks’ with your card, it will cost a fortune. Business accounts often come with ‘convenience checks’ that do not come with the same penalty fees and charges for usage.

While these two tips may seem relatively simple and basic, establishing your own business credit, and a business line of credit can help you take major strides towards starting or growing your dream business.

As the Nations Leading Expert in Business Funding, Pat Gage has created a system for raising unlimited money for any business. The system is called “10 Steps To Money®” and has assisted many of his students and himself in raising hundreds of thousands of dollars for their businesses. Pat is not only a sought after business funding expert but also a national speaker and frequent radio show guest. For more information on any topic discussed, visit Pat Gage’s site at http://www.10StepsToMoney.com

What investment strategy works BEST?

There’s sooooo many ways to make money in real estate.
But which ones work best in this market?
 
ANSWER: It’s two you never heard of…
 
Can you spot them?
 
- Foreclosures (You’ve heard of this)
- Short Sales (You’ve heard of this)
- Preconstruction (You’ve heard of this)
- Wholesaling (You’ve heard of this)
- Retailing (You’ve heard of this)
- Tax Liens/Sales (You’ve heard of this)
- Buy & Hold (You’ve heard of this)
- JVF… Yep, that’s one
- MLO… Uh huh, that’s the other
 
Watch this short video to see what these strategies are:
 
https://commercial.infusionsoft.com/go/mmic/a45/
 
They’re the best because with them you’ll
achieve the ultimate financial goal, which is to make…
 
…The most amount of money.
…In the least amount of time.
…With the least amount effort.
…And the lowest possible risk.
 
And they require no money, credit, loans or
even seller financing.
 
Watch this short video to learn why JVF & MLO
are the best investment strategies:
 
https://commercial.infusionsoft.com/go/mmic/a45/
 
To Your Success,
 
Pat Gage
http://www.10stepstomoney.com

This Real Estate Video just hit #1

Wow! This just ranked as the most watched real estate
investor training video ever in a single day!
 
It’s pretty obvious why once you see it . . .
 
https://commercial.infusionsoft.com/go/mmic/a45/
 
Check it out now.
 
Pat Gage
http://www.10stepstomoney.com

Wednesday Nite, 9PM EST

A webinar that will blow you away….

TOPIC: How to get an additional $30-$100K+
       for your business in 47 days!

Date: Wednesday February 4, 2009

Time: 9:00 PM – 10:00 PM EST

****************************************************
For the online Webinar Portion, click to register:
https://www2.gotomeeting.com/register/713063898
****************************************************

What would you do if you had an extra $50,000,
$100,000, or $150,000 in your bank account?

Would you sleep better at night knowing you could
buy that equipment your business desperately needs?

Hire an assistant so that you wouldn’t have to work
70 hours a week?

Pay off some of those bills that keep piling up?

Would you launch an advertising campaign to bring
in more business?

Buy that residential or commercial property you’ve
been looking at?

Now you can discover my insider secrets to
building business lines of credit in excess
of $500,000 and much, much more!

PLEASE NOTE:  If you’ve never attended a teleseminar
/webinar before, it is simply a seminar where you
call in and listen over the phone AND watch the
presentation on your computer.
 
Don’t worry if you don’t have access to a computer
Tuesday night. STILL call in and listen.

****************************************************
For the online Webinar Portion, click to register:
https://www2.gotomeeting.com/register/713063898
****************************************************

I will tell you the story on how I got started
in real estate and used this money to avoid
bankruptcy and go on to become a multimillionaire
in commercial real estate using this system!

I will you a story how I got $100,000 from
a local bank without seeing or talking to the
bank representative.

I am a know nothing about business financing guy
that cranked it up and literally raised over
$500,000 in less than 2 years, to become a
mutlimillionaire!

I am living the dream of every investor/entrepreneur
in America!!  Make sure you check this out..

Opportunity and Success!! This is it!

****************************************************
For the online Webinar Portion, click to register:
https://www2.gotomeeting.com/register/713063898
****************************************************

See You on the Call!!
Pat Gage
http://www.10stepstomoney.com

P.S. On the call I am going to make an
outragious offer -to make this system FREE
to you!

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