Establishing Business Credit

Establishing Business Credit

It can be frustrating when you are trying to establish business credit but it is a road that will get easier as you travel down it. Remember when you were trying to establish your own personal credit? You may have been turned down because you didn’t have a credit history. Eventually someone gave you an opportunity to prove yourself and that is what is going to happen when you are working on establishing business credit.

It is vital that you have the relevant information a lender is going to ask for when you are establishing business credit. Being prepared is going to show them that you are organized and responsible. The manner in which you present your information is important as well. One of the easiest ways to start establishing business credit is to get an account with a local retailer or vendor where you can buy business supplies. They will likely know you on a personal level and be willing to allow you to open a business account as well.

During the initial phases of establishing business credit make sure you make all your business purchases with it. Pay off the account on a monthly basis because you need to build your business credit history in a positive manner. If you are able to obtain business credit cards they will likely have high interest rates while you are establishing business credit. To avoid paying that interest, always pay your balance in full. Establishing business credit takes time and effort but it can be a key ingredient to the success of your business.

Unfortunately, there are not college courses teaching "How To Build Real Corporate Credit". (And if there are, they are probably taught by someone who's never owned their own business!)

The statistics don't lie. Most new businesses fail due to "lack of proper financing". We became frustrated after being blind sided by a credit system we thought we understood. Sometimes it's just a lack of insider information that causes problems, and the unfortunate consequences. Not getting the proper information and building reserve financing BEFORE you need it can be the kiss of death for many new enterprises!

To read the complete story of our business credit mis-adventure click here

It is our hope that this inside inforamtion might stop the growing statistics of business owners losing their dreams. So, before you spend your hard earned money designing, starting and building your buiness, we urge you to get ALL your financing in place first, starting today!

There is a LARGE majority of well meaning, hard working business owners who simply aren't aware of the "insider secrets" to obtaining HUGE amounts of unsecured corporate credit, without personal guarantees. If you would like to know what caused us to sit down and write out this information, click here to read that story.

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Readers Comments

Thank you. Thank you. Thank you.
I can't begin to tell you how wonderful the ("hidden resource") is. There is so much I need to correct in my life in this area. Thanks for sharing your story and your discoveries. Please continue helping people the way you do.
May God always bless you both.
(a very satisfied repeat customer)

Sandra