Business Credit

Building Business Credit for Small Business

You are here: Home / Archives for Marco Carbajo

Prepaid Business Cards are Lifesavers for Small Businesses

By

Prepaid Business Cards for Small Business

Are you worried about the potential misuse or abuse of a company credit card that you issue to employees?prepaid business cards

Unfortunately, credit card abuse among employees is not only a problem for small business owners. It’s a problem that major corporations and even government agencies are facing today. For years, our federal government has struggled to provide sufficient oversight over its government credit card programs resulting in widespread abuse.

Recently the Environmental Protection Agency has come under fire for a lack of oversight over its government charge cards. In March, the EPA’s IG said some of the agency’s employees had used their federal charge cards to buy personal items like gym memberships for themselves and family members, expensive dinners and DVDs.

The problem surrounding all of this company-issued credit card abuse is basically a lack of oversight and spending control. So what’s the solution?
Click to continue …

The FICO SBSS Business Score Revealed

By

FICO SBSS Business Score

Do you know FICO® small business scores are being widely used today?

I’m guessing that you just did a double take when you saw that your business has a FICO® score. Although you’re probably no stranger to your own personal FICO® Scores, did you know that business scores issued by FICO® are nothing new? FICO SBSS Business Score

Hundreds of financial institutions use these scores when making small business credit decisions. Since 2003, the Small Business Administration (SBA) has used the Small Business Risk Portfolio Score in its 7(a) and 504 loans programs. It’s also used the FICO® SBSS score since 2007 for small business borrowers.

David Lightfoot, vice president of product management at FICO®, says “It gives small business credit grantors the strongest predictor of credit risk relative to other small business scores, enabling them to pursue profitable growth strategies, adapt quickly to changing market conditions and make more competitive offers to small business borrowers.”
Click to continue …

Fastest Way to Research a Business Idea for Online Profitability

By

Research Business Idea

How do you test the viability of a business idea?

Somewhere between jotting down your idea and naming your business on a piece of paper and actually starting a business, there’s research you should do that may help determine either the success or failure of your concept. Doing the proper research helps you analyze your idea, its market potential and your competition. research business idea

In today’s post I want to talk to you about a fast way to research a business idea for online profitability. The reality is there are only a few key metrics that are really important when it comes to testing the online market potential for your idea.

Before you begin investing your time and hard earned money, it’s essential to define your target market, assess if the market is large enough, determine if there’s a demand for your product or service, and what type of competition you’re up against.

Let’s dive into this a little deeper.

Spending hours, days, or weeks researching that perfect “idea” not only takes away precious time, but it indicates that you may not be using the right tool or process. You should be able to research a business idea in a matter of minutes. Now I have to confess before I started using a research based platform I invested countless hours doing my own research manually.
Click to continue …

How to Get a Business Cash Advance that Builds Biz Credit

By

How to Get a Business Cash Advance

In today’s lending climate, finding traditional business loans with bad credit or no credit and little or no collateral is next to impossible. The good news is because of this tight credit market some alternative financing sources have spawned new opportunities for business owners to get access to the funding they need. how to get a business cash advance

Now some of these programs have been around for quite some time. According to a USA Today article, 65% of commercial loans issued to small businesses were considered “unconventional” — including factoring, business cash advances and revenue based lending – up from about 25% two years ago.

In this particular post we’re going to address the business cash advance also known as a merchant cash advance. This specific program is becoming more popular and mainstream because it’s fast, requires minimal paperwork, and doesn’t require pristine credit ratings or collateral that many other programs do.
Click to continue …

Do I Build Business Credit? Five Reasons Why You Should

By

Do I Build Business Credit

In a recent post for the Small Business Administration (SBA) I covered five key reasons to start building business credit for your startup or existing business. If you have been following my blog for some time I know we’ve talked about this at length, but there have been a few additions recently, I thought you may find helpful. do i build business credit

When it comes to building credit in your company’s name, Marc Kirshbaum, president of Experian’s Business Information Solutions group says “Just as your personal credit has a big impact on your financial health, your business credit can help you get competitive business loan rates and terms from potential suppliers.”

Let’s recap the five key reasons:

Business Credit Reports – According to Creditera, in the first 6 months of 2013, Dun & Bradstreet had 45 million business credit report requests and Equifax Commercial had 35 million. It’s clear that suppliers and lenders conduct business credit checks. If your business does not build its own credit then your personal credit will always play a major role in credit granting decisions for your company.
Click to continue …

CATEGORIES

RECENT POSTS

CONNECT WITH US