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A World Outside The US
With the exception of myself and a small handful of very remote and isolated journalists, no-one today bothers writing about the growth of the web. It's old news, and we already get it. Today's buzz is more about reaping the benefits of what's...
Attract Investors and Key Employees
How to Attract Investors and Key Employees: YOU MUST PACKAGE YOUR COMPANY! You have come a long way on your path to realizing your business goals and dreams. You had a great idea for a product or service. You recognized a need in the marketplace...
Do You Really Need PR?
Please feel free to publish this article and resource box in your ezine, newsletter, offline publication or website. A copy would be appreciated at bobkelly@TNI.net. Word count is 990 including guidelines and resource box. Robert A. Kelly ©...
Making a Credit Card Work For You
Boosting Your Credit-Rating With A Well-Managed Credit Card
A considerable obstacle standing between many Americans and the consumer goods they consider a necessary or desirable part of life is a ready way to pay for them. From a new piece of...
The Hawk and the Mouse - Retirement Saving
There once was a hawk, ferocious and swift. He was young and agile with many years of life to hunt the open ranch lands. In a nearby field, a mouse scurried about the ground. The hawk saw the hurried motion and swept speedily toward the rodent. ...
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How to Build Business Credit Despite Your Personal Credit
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 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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