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Corporate Credit
Corporate credit works in much the same aspect as personal credit. The difference is that it is approved based on the merit of the corporation. You have to be able to show the corporation is a separate entity from your personal income. You also have to be able to prove the corporation is able to repay the terms of the money borrowed based on the earnings.
It is very important for a business to be able to qualify for corporate credit. This funding can help to purchase new equipment, expand the business, and market new products or services. It is very important to keep the corporate credit rating very high by only borrowing what you need and paying your creditors on time.
If you use corporate credit to your advantage when it comes to vendor agreements you can save a substantial amount of money. It is very common for vendors to offer corporations net terms of 30, 60, or 90 days. Many of them will offer a discount of up to 10% if the bill is paid in full before that time period in order for them to have a steady cash flow. Corporate credit is very important to the success of your business so use it wisely.
Here is a horrific fact. Most businesses fail!
Why?
The majority of new entrepeneurs run out of financing. And when they scramble to find more financing, they realize they didn't know the "second" set of rules. By that time, it's simply too late!
The good new is that this "second set" of credit rules ISN'T rocket science. It does take a little time, and diligence, but anyone who uses this information gain access to large amounts of unsecured credit (even with awful personal credit!) This credit can be leveraged to make you WEALTHY!
Unfortunately, many new owners simply don't have this insider knowledge and won't succeed in today's environment.
Too many hard working entrepeneurs are losing their personal money, and their dreams, due to a lack of this specific information.
If you are thinking about starting a new business, or struggling to make your current enterprise profitable, please read our story
We made the mistakes. Actually, it's only a "mistake" if you don't learn from it. We prefer to call our "business credit mis-adventure" a "LEARNING EXPERIENCE".
Click Here To Read About Our Business Credit Mis-adventure!
After learning that "we didn't know what we didn't know", one particular struggling potential entrepeneur caused us to write down this information. By telling this lady the information we had researched, she was able to finance and create a profitable business. When she first contacted us she was about to make a fatal business mistake. We we're glad to help, and realized we needed to publish our findings. To read more about that story, And learn more about our "insider business credit secrets" (click here)
Patti & Robert Farnham
(authors of "Corporate Credit Power)
(Don't make the same mistakes we did!)
Of course, feel free to make your own new ones!
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