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Further
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Can You Rally Make A Substancial Income With An Affiliate Program ? - Michel Richer
Affiliate Program are the easiest way to make a substancial income on the internet. Affiliate Program have exploded on the internet. Thousand of people join them every day. Amazon.com is probably the best example of such phenomenal success. ...
Budgeting When Your Paycheck Varies - Terry J Rigg
How can you decide how much you have for bills and expenses when your paycheck varies from one payday to the next? That's a question a lot of people struggle with. A few of the occupations that I can think of off hand that could fall into this...
Tips for first time home buyers - Ajay Pats
There's good news for renters! Recent dramatic changes in the mortgage finance industry have placed homeownership within easy reach of a greater number of people. A common obstacle today in purchasing a home is the outdated notion that obtaining a...
Consumers, Beware The New “Wave” Of Credit Cards - James Dimmitt
J.P. Morgan Chase About the Author © 2005, http://www.yourfreecreditreportnow.com Author: James H. Dimmitt James is editor of "TO YOUR CREDIT", a free weekly newsletter with tips to help you manage your personal finances. Subscribe today and...
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How to Build Business Credit Despite Your Personal Credit
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Written By:
Karen L. Hardy
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Business credit is more of a science than an art. The first rule for this science is that it is not the same as personal credit.
Many would-be and aspiring business owners are not aware that establishing credit for a business is just as important as establishing personal credit. They also do not realize that a business can have a credit score separate from their personal credit score.
There is a world out there designed specifically for the business entity with a whole set of different rules.
Many entrepreneurs start out accumulating excessive personal debt to finance a business. Within a few months or even years, they find that the business is a monster and needs more food, also known as financing.
With credit cards maxxed to the limit, business owners find themselves in a crunch and searching for ways to raise capital. This is difficult to do when the time is not taken to establish business credit first. Business credit is a crucial first step and foundation to build upon.
First, a business is not real. It really doesn't exist until legal steps and processes are completed to say that it does exist. PEOPLE create businesses that have not been tested, employed or ever earned a paycheck. So, when you start a business and begin looking for financing, the bank WILL ALWAYS look at your credit because they can touch you (and your job, and your car, and your house...). You have a history. Your business does not.
They will pull YOUR credit report. Not the business. And do you know why? Because you have not established a business credit profile separate from your - continued below ...
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personal credit profile.
Can this be done? How does a business establish a credit profile separate from your personal credit profile?
There is a credit system that will help you:
1. Lease vehicles like Lexus or Lamborghini, with added tax benefits.
2. Get a business line of credit or Small Business Loan or Business Credit Card for expanded Advertising, Inventory and other expansions your competitors can't get.
3. Invest in large projects like Commercial Property or Land or Construction that your personal credit isn't enough to guarantee.
4. Protect your personal assets from that of the business by not having to sign, no personal guarantee.
5. Start over with a new credit file if you need to, instead of just being stuck with your personal credit report
Start new businesses you always wanted to start with Business Loans.
6. Separate your personal credit from your new shiny business credit profile
7. Get a new credit report for every business you start. Establish business credit that's good even if you have poor personal credit (it's true!)
Anyone who wants to establish a REAL BUSINESS, with CREDIBILITY that's bankable ought to establish business credit.
About the Author
Karen L. Hardy, MSBA is a certified Business Finance Consultant, real estate investor and motivational speaker. To establish credit for your business, go to
http://www.destinycapitalfunding.com/business_credit_builder_program.htm
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| _Additional Resources ... |
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Need Additional Business Funds? Stop Right There! - Mark Askew
Looking for additional capital to fund your next marketing campaign or to expand your business. Hold It! Stop right there. Small business owners seeking additional marketing funds may only need to look no further than there own back yards. And in...
The Online Businessperson Butterfly - Part 1 - Michael Dixon
The Internet is LOADED with opportunity for those who want to start their own online business today! The only thing that seems hard to find is where to start. Too many beginners start out like a butterfly. They go from program to program as the...
Five Secrets to Gaining Credibility with Your Team for Outstanding Results - Ed Sykes
Towers Perrin, the corporate benefits consulting firm, surveyed over 1000 American workers and found the following: * Only 51 percent of all workers trust their organizations to tell the truth in employee communications * Only 48 percent of all...
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