 |
Further
Reading ...
|
|
THE “SEVEN Cs”: PARTNERSHIP DANGER SIGNS - Conflict Becoming the Norm – Part 2 - Dorene Lehavi
A series of articles exploring the seven critical areas that can indicate a partnership is in trouble. Conflict Becoming the Norm – Part 2 In a previous article, I wrote about how unresolved conflict can create havoc in your business and can...
The Squirrel Effect - Nan S Russell
An industrious black-tailed ground squirrel has his home beneath a stump not far from my office window. I’ve been watching him squirrel away provisions for winter. He reminds me of people I’ve worked with. Starting his journey by standing tall on...
Patience: Don’t Start Your Business Without It - Donnie Baird
In this world of instant gratification, there is still a place for one of the keys virtues known to man, especially for the work at home entrepreneur: Patience. Patience is defined as bearing or enduring pain, difficulty, provocation, or annoyance...
How to market your home business inexpensively or for free - A M Wilmot
There are a number ways you can go about marketing your website, many of which are quite inexpensive. Effectively marketing your Home website is vital to your ultimate success. In fact, the key to growing a business, and particularly a new Home...
|
|
|
How to Establish Business Credit Despite Your Personal Credit
|
 |
Written By:
Karen L. Hardy, MSBA
|
|
|
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 - continued below ...
|
|
|
continued ...
your 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
|
|
|
|
 |
|
|
| _Additional Resources ... |
|
Focus on Success – How To Make Affiliates Work For You - Andrew Williamson
How do we go about getting success with affiliate programs my friends? Let me tell you - the key to achieving success in the Internet Affiliate Game is FOCUS - plain and simple! Here's what you have to do: - Read around and find out...
High Probability Trading Strategies. Short term momentum stock trading - Conrad Wilson
Most stock traders know that momentum trading can be a very profitable activity. You can make big amounts of cash in a short period of time. The problem is, that if you don't know what stocks to look for and how to approach them and leave everyting...
How To Determine The Price Of Your Home - W Troy Swezey
Why is it that some homes sit on the market for a year while others sell like hot cakes? Frustrated sellers will blame a bad market, while a good real estate professional will tell you that many times, a slow sale is often attributed to the...
|
|
|
|
|
|
|
|
|
|
