Business Credit

Building Business Credit for Small Business

You are here: Home / Archives for Marco Carbajo

The Best Way to Build Business Credit (Part 2 of 2)

By

Best Way to Build Business Credit

In Part 1 of the Best Way to Building Business Credit we covered credit listings, creditworthiness, credit categories, and Tier 1.best way to build business credit

Part 2 of this series we’ll cover the remaining tiers of the structure. As a quick recap, Tier 1 should consist of 4-5 reporting trade lines made up of service providers and starter vendors across all three major business credit agencies.

Once you have accomplished this your business will now have a business credit score generated across all three business credit reporting agencies. For example, with Dun & Bradstreet it requires a minimum of three reporting trade experiences to generate a Paydex® Score. Like your personal FICO® score, a business credit score is a statistical measurement of your company’s creditworthiness.

Now keep in mind, a business credit score is only one indicator that lenders and suppliers use to assess the creditworthiness of a business. In Part 1 we discussed the other key factors that contribute to creditworthiness.
Click to continue …

The Best Way to Build Business Credit (Part 1 of 2)

By

Best Way to Build Business Credit

Is your startup or existing business ready to build business credit?

Do you know what crucial business credit building components you need before your company starts applying for credit? best way to build business credit

Well, the good news is in today’s post we’re going to take out all the guesswork and show you the best way to build business credit. According to Wells Fargo Bank, “The longer you delay establishing business credit, the longer you delay taking advantage of business financing.”

So let’s get started.
Click to continue …

The Best Online Business Directories to Get Listed With

By

Best Online Business Directories

Since searching the internet is the number one tool used to locate a business today, it’s crucial to make sure your business is listed on major online business directories. While there are many popular online directories to get listed with there are several key sites that play a role in the business credit building process. best online business directories

Certain online directories are the online equivalent of a modern day phone book so getting listed is a great way for not only customers to find you but also lenders to verify your business listing.

To get you started, here are my top five online business directories to get listed with:

1) Google Places for Business – The fact is google outperforms every other search engine with nearly 6 billion searches on a daily basis. It’s free to get listed and your business listing will also appear on Google Maps.  Create your Google Places for Business listing as soon as possible if you haven’t already.
Click to continue …

How to Get Restaurant Business Loans with Bad Credit

By

Restaurant Business Loans

One of the greatest challenges facing restaurant owners from getting the business loans they need is bad credit. The fact is restaurant owners took a massive hit from the economic downturn from several years back. From the significant drop in customers dining out, increased transportation costs and the rise in food costs; restaurant owners find themselves struggling to thrive in a poor economy. restaurant business loans

The downturn caused them to resort to taking funds out of their own pockets and racking up credit card debt just to keep their businesses afloat. As a result many owners ended up damaging their personal credit and hurting their overall financial stability.

Today, restaurant owners can’t get the business loans they need due to those bad credit issues from the past. Other factors that contribute to such high rates of rejection are excessive debt, lack of collateral, and a back-breaking approval process.
Click to continue …

Business Credit Partners: Answers to Your Most Pressing Questions

By

Business Credit Partners

In recent posts we covered quite a bit of ground surrounding unsecured business credit lines. We went over the benefits, did comparisons, and reviewed what it takes to qualify. Unfortunately, many business owners find that their personal credit is not sufficient to qualify for these particular business credit lines. business credit partners

The good news is you can bring on a new business credit partner with good personal credit to qualify for unsecured business lines of credit. In today’s post we will answer your most pressing questions on using a credit partner to get funding.
Click to continue …

CATEGORIES

RECENT POSTS

CONNECT WITH US