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Building Business Credit for Small Business

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Unsecured Business Line of Credit No Doc: 3 Fast & Easy Sources

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Unsecured Business Line of Credit No Doc

How do you get an unsecured business line of credit with no documentation?

In today’s post we’ll reveal three fast and easy sources of credit lines for your business that you can apply for with no documentation. Whether you’re a startup or existing business, you may be able to qualify for one, two, or all three of these credit lines. unsecured business line of credit no doc

What is an unsecured business line of credit with no doc? A no doc business line of credit is a line of credit which requires no income documentation. To qualify you won’t be required to furnish financials, tax returns, etc. This is also known as stated income where the bank or lender does not verify income by looking at documentation. Instead, you are simply asked to state your income, and it’s taken at your word.

Typically, banks offer no doc or stated income business credit lines for self-employed individuals or borrowers who may have difficulty documenting their income.

This is a fast, easy and truly hassle-free way to get access to a line of credit for your business without all the red tape and excessive documentation.

What is a business line of credit?

Simply put it’s a revolving source of funds. You get access to a fixed amount of capital (your credit limit), which can be used anytime you need it. Think of it as having a cash/credit on demand tool for your business.

You can borrow against your credit line whenever you need it, repay it, and use it again. Best of all since it’s unsecured you don’t supply any collateral.

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How to Build Business Credit in 30 Days

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How to Build Business Credit in 30 Days

Today, we’re talking about how to build business credit in 30 days. In this post, you’re going to learn step-by-step how to establish anywhere from 12 to 15 accounts reporting on your company’s business credit reports whether you’re a start-up or an existing business in 30 days or less. how to build business credit in 30 days

So, let’s get started.

Why build business credit? Building business credit allows a business owner to protect their personal credit while establishing the creditworthiness of the business itself. With a separate legal entity such as a corporation or limited liability company, you have the unique ability to create a credit identity for the business also known as a business credit profile with the business credit reporting agencies.

When you structure your business as a corporation or limited liability company it becomes recognized as a separate legal entity with the ability to enter into contracts. It’s treated as a separate being. Basically, you have the ability to create a credit file in your company’s name using your EIN number.

As you know you have a Social Security Number. Your social security number is used when you apply for personal credit while a business has an EIN number which is also known as your Employer Identification Number.

Your EIN is used by the IRS for tax purposes, but this also gives you the ability to create a business credit report with the business credit reporting agencies. This credit profile for your business is vital if you plan on acquiring credit or funding using your company’s credit report as a qualifier.
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How to Open a Business Credit File with Experian

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How to Open a Business Credit File with Experian

The other day I got asked which business credit reporting agency is most widely used by banks and credit card issuers when checking a business credit file. Without a doubt I would have to say Experian Commercial which leads me to writing today’s post. how to open a business credit file with experian

What is a business credit file? A business credit file is created by a business credit reporting agency when a credit grantor reports information associated to a company’s credit account. A business credit file is used by credit grantors during the decision-making process to determine whether or not to extend credit to a business.

Your credit file gets opened with Experian when a credit grantor reports your company’s data to Experian Commercial. In order to accomplish this, your business needs to establish a business credit account with a credit grantor that reports to Experian.

Here are three ways to get your business credit report established with Experian in 30 days:

Strategy #1

One of the fastest ways to get this done is with our business credit card funding program. Under this program you get 4-5 business credit cards that report only to Experian Commercial and in some cases Equifax Small Business. In less than 30 days you can have 4-5 revolving lines of credit listed on your Experian business credit report.
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Plastiq Review: 5 Ways it Can Benefit Your Business

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Plastiq Review

Do you have bills that you can’t pay with credit cards?

Are you missing out on early payment discounts?

How much money have you lost from discounts you could have got by paying cash? plastiq review

In today’s post we are going to show you how to put virtually any expense on a personal or business credit card with a bill payment service known as Plastiq.

What is Plastiq? Plastiq is an online bill payment service for consumers and businesses that lets you pay almost any bill with a personal or business credit card. You can pay with credit cards where cards are not accepted for a simple 2.5% fee.

In this review we’ll go over five ways Plastiq can benefit your business. I think it’s important to write a complete review on this since we get so many business owners that come to us and want to pay for certain business expenses using their business credit cards but can’t.
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