Obtaining Unsecured Business Funding is a vital element in growing your business credit profile. Establishing business credit is an important step for any new small business and helps you to: (1) maintain a credit history separate from your personal credit history and experience the business benefits of having good business credit, and (2) demonstrate separation between owners and the business. Alternative Funding provides options when you don't qualify for conventional lenders programs.
By having a business credit history separate from your personal one, you can minimize the effect negative events on one might have on the other. For example, if you have some financial missteps that impact your personal credit history and score, they shouldn’t impact your small business credit if you have established a clear separation and vice versa.
Unless you’re operating your small business as a sole proprietorship or general partnership, you need to demonstrate that the business is separate from the owners. One of the key benefits that corporations and limited liability companies (LLCs) provide the owners is protection of their personal assets. Keep this protection in place by consistently showing clear separation between the owners and the business.
Having good business credit can provide a number of benefits, including:
Once you have established and built good business credit, be sure to monitor and protect it, just as you do with your personal credit.
Now there is a new way to establish a creditworthy business, get credit and funding while protecting your personal credit scores.
Our Business Credit Building System is the most simple and effective way to build business credit for your start-up or existing business…
Track, update and monitor your progress with our Revolutionary Business Credit Building Platform
Inside you will be able to build strong business credit reports and scores the fastest possible way. Each step of our business credit building system is described in detail and also includes access to a comprehensive set of frequently asked questions.
Get set up “the right way” with each Business Credit Reporting AgencyThere are 3 major business credit reporting agencies that are key to your success: Dun & Bradstreet, Experian Business and Equifax Small Business. The how-to instructions for getting listed has been tested and proven by thousands of our members before you. The system is integrated with Experian Business allowing you to see your progress as you build business credit. In real time you will know if your company is listed, how many trade lines are reporting and if you have a business credit score.
There are over 500,000 vendors extending credit, but less than 6,000 report to the business credit agencies. Additionally, there are over 500 business credit cards in the U.S., but less than 70 of them report solely to the business credit agencies.
Banks and lenders will require to see that your business is in lending compliance. Our system will guide you through the 20+ item foundation for building strong business credit scores. Each step of the system will provide you with all the necessary instruction to complete all items required to meet compliance in order for your business to be 'credit ready'. You can go back and access all the steps to review and update any information.
We address the major components that make-up the credit and financing potential of your business and see what funding programs might be available to you and offer alternative solutions. By improving and maximizing your personal and business credit scores, you will have much more capital (cash) and resources available to your business at better rates, terms and pricing. You will have the opportunity to apply for a variety of funding programs if you qualify. If you do not qualify for a particular program, we will show you steps to take in order to become eligible.
We address your business credit files with all three major business credit agencies; Dun & Bradstreet, Experian Business and Equifax Small Business. Depending on your current status, this includes establishing new file(s) or making sure existing files are accurate. We wipe away any confusion concerning the Business Credit Reporting Agencies. Along with being able to access all three of your business credit reports, you will have a much clearer understanding of the business credit reporting process, including how your business credit scores are developed.
We teach you what each vendor requires for approval and which business credit agency it reports to. Optimizing business credit requires that your company acquire vendor lines of credit. A vendor line of credit is when a company (vendor) extends a line of credit to your business on "Net 15, 30, 60 or 90" day terms, or Installments 6, 12, 18, 24, 36, ect months. This means that you can purchase their products or services up to a maximum dollar amount and you have 15, 30, 60 or 90 days to pay the bill in full.
A revolving business line of credit account is one that allows you to pay a "minimum due" per month and not the full outstanding balance. These accounts normally report to Experian Business and sometimes to D&B and Equifax Small Business. Because of how they report, these accounts will help build your business credit on a larger scale than just the Net 30 day vendors alone.
You will have the opportunity to apply for a variety of unique funding programs if you qualify. If you do not qualify for a specific program we offer, we show you how to meet the requirements needed to be eligible to apply. All business funding applications are first delivered to your funding analyst for review and pre-approval before full submission to underwriting. Remember, doing all the work to build strong business credit scores has a major goal, and that of course is to receive much more funding.