FICO Score vs Credit Score: Which Score Matters Most?

August 6, 2014 By Marco Carbajo

FICO® Score vs Credit Score

Banks, lenders, credit card issuers, auto lenders, etc. use credit scores to decide what interest rate, loan, rebates & credit card terms to offer you if any. Your score is vital to you because it determines how much money you can borrow, how much interest you’ll pay, and what payment terms you’ll receive.

For business owners it’s just as important. Although it’s crucial to establish the creditworthiness of your business; having strong personal and business credit scores opens you up to much more funding opportunities. For example, to acquire unsecured lines of business credit that only report to your company’s business credit reports requires that the business owner or credit partner have a strong FICO® Score.

It’s like your credit grade point average (GPA). It indicates the measure of your credit achievements so lenders can quickly assess your current credit health. A strong score can save you thousands of dollars by enabling you to gain access to the best rates, loans, rebates, and premium credit cards.
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Choosing a Business Name That Costs Clients, Cash, and Credibility

July 30, 2014 By Marco Carbajo

Choosing a Business Name

In a recent article I wrote for Dun & Bradstreet Credibility Corp, I covered how to choose a business name that’s effective and legal. Did you know that a poorly chosen company name can end up costing you clients, cash and credibility?

Hard to imagine that just by selecting the wrong business name can potentially wind you up in court or cause you problems obtaining credit and/or customers.

Now if you’re thinking what’s in a name anyway, I’m sure after reading this post you’ll get the big picture and take some cautionary steps in order to protect yourself.

First things first, from a business credit building perspective it’s important to pick a name that does not automatically trigger a red flag with certain creditors and lenders. Avoid a company name associated with a high risk industry such as real estate.
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Here is a Quick Way to Get Cash for Real Estate Investing

July 18, 2014 By Marco Carbajo

Cash for Real Estate Investing

One of the most common questions I have been getting lately is “How can I get the cash I need to fund my real estate deals?”

This post is for those of you looking for a fast and effective way to get the cash you need to execute your deals. Now I know there’s quite a bit of information you can find on the internet covering all the different ways you can get funding for real estate investing such as private lenders, hard money lenders, etc.

But with private money and hard money lending there can be collateral you need to put up and they want a large percentage of your profits. Other ways include getting a traditional line of credit from your bank or credit union but that comes with its own challenges as well.
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The Ins and Outs of a Business Car Lease

July 10, 2014 By Marco Carbajo

Business Car Lease

Are you using your personal vehicle for business purposes?

Have you considered leasing or purchasing a car in your company’s name?

In today’s post we’re going to cover the ins and outs of business car leasing. When you lease, your monthly payments are usually lower than when you buy and you get a new vehicle more often.

As with any aspect of your business and personal finances, it’s crucial to keep them completely separate. True separation includes but is not limited to banking, credit usage, expenses, purchases, travel and transportation.

First things first, if you’re using your personal vehicle for business purposes, you can deduct your business use of the vehicle. Two of the methods of calculating this are actual expenses and standard mileage deduction.
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What Does Your Experian Business Credit Report Say About Your Company?

July 2, 2014 By Marco Carbajo

Experian Business Credit Report

Have you checked your Experian Business Credit Report lately?

Does your company’s report have depth, diversity and density?

Did you know banks, credit card issuers, suppliers and lenders use Experian Business to prescreen and identify companies to solicit credit offers to?

In the previous post we talked about deciphering your Equifax Small Business Credit Report, in today’s post let’s dive into Experian Business.
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