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

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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.
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The Best Online Business Directories to Get Listed With

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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.
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How to Get Restaurant Business Loans with Bad Credit

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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.
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Business Credit Partners: Answers to Your Most Pressing Questions

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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.
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Attention Business Owners: Best Practices for Using Credit Cards

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Business Best Practices Credit Cards

One of the challenges facing business owners in America today is the lack of business credit education. An area of particular interest is in the proper use of credit cards. business best practices credit cards

According to Tower Group’s recent report, more than two-thirds of business owners use credit cards for business, but of those only about 40% are putting the charges on business credit cards. That leaves 60% of business owners putting themselves at risk for personal liability and placing their personal credit and personal assets at risk.

I developed this guide as a helpful tool for business owners like you who plan to or are using credit cards for your business, to provide insight into an ever changing industry, and show how these best practices can provide much greater risk management, record keeping, personal credit protection, cost savings, and credit capacity for your business.
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