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Top 10 Business Credit Building Updates and News

August 7, 2019 By Marco Carbajo

Business Credit Building Updates

In today’s post we’re covering the top ten business credit building updates and news that you should know. It’s amazing to see how fast the business credit industry is growing and changing to meet the needs of small business owners like yourself. business credit building

We have compiled a list of some of the most important updates to keep you informed so you can best determine what business credit building strategy is ideal for you.

Remember, when it comes to building business credit and getting funding for your startup or existing business; staying informed with up to date information is essential to your success.

Without further ado, here are our top ten business credit updates:

1 ) Equifax Acquires Paynet – Although Equifax is widely known as a consumer credit reporting agency, did you know they are a business credit reporting agency as well? In fact, they provide business credit evaluations for over 22,000,000 small businesses and corporations.

Their acquisition of Paynet aims to strengthen Equifax’s Business Credit Reporting arm and expand access to capital for small businesses. PayNet is a business credit reporting agency that maintains the largest proprietary database of small business loans, leases and lines of credit with over 24 million contracts worth over $1.6 Trillion.

The addition to PayNet’s commercial leasing payments data, along with Equifax’s business data, can boost growth in small business commercial space for Equifax.
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Filed Under: Business Credit Tagged With: build business credit, building business credit, business credit, business credit building

Building Business Credit Fast: How to Add 8 Tradelines

July 6, 2019 By Marco Carbajo

Building Business Credit Fast

How do you start building business credit fast? There are several new business credit building strategies that will help you build your business credit reports in record time.

Whether you are a startup or existing business you can start establishing business credit quickly by following the strategies we cover in today’s post.

Be sure to also check out our recent post on How to Build Business Credit in 30 Days for additional strategies. building business credit fast

From the early startup stage all the way to the growth stages, access to business credit and funding is crucial if you want to achieve success in business.

In business, there will always be unforeseen expenses, opportunities to expand into new markets, research & development, etc. that will require additional working capital.

It’s important to realize 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.
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Filed Under: Business Credit Tagged With: build business credit, building business credit, building business credit fast, building business credit quickly, business credit building

Applying for Business Credit Cards with an EIN: Top 10 Factors

May 30, 2019 By Marco Carbajo

Applying for Business Credit Cards with an EIN

Do you plan on applying for business credit cards with an EIN?

In today’s post we’re going to go over the top ten factors that impact the approval process and size of credit limits you can acquire with our business credit card funding program.

This particular program requires that your company have an employer identification number issued, also known as an EIN. Although the banks require a personal guarantor; at the credit reporting level, none of the activity or cards issued under this program report to your personal credit reports. applying for business credit cards with an ein

Basically, you are leveraging the strength of your personal credit so the company can acquire its own business credit cards under its EIN. Think of it as co-signing for your business without it impacting your personal credit reports.

Once the cards are issued to your company under its EIN, the bank card issuers will report your card activity to business credit reporting agencies such as Experian Commercial and/or Equifax Small Business.

Remember, the ‘dividing line’ between business and personal credit cards must be established at the credit reporting level in order to legitimize true business and personal credit separation.
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Filed Under: Business Credit Tagged With: apply for business credit, apply for business credit cards, applying for business credit cards, applying for business credit cards with ein, business credit card funding

Business Credit Cards vs Corporate Credit Cards

March 20, 2019 By Marco Carbajo

Business Credit Cards vs Corporate Credit Cards

When it comes to making business purchases; business credit cards and corporate credit cards play a vital role. But what is the difference between each one and which is ideal for your bbusiness credit cards vs corporate credit cardsusiness?

In today’s post we are going to talk about everything you need to know about business credit cards vs. corporate credit cards. You’ll learn the similarities, the differences, the qualifications, and which one requires a personal guarantee and which one doesn’t.

Let’s get started.

Both business credit cards and corporate credit cards are similar because they are both a revolving source of funds you can use anywhere Visa®, MasterCard®, Discover, and American Express are accepted.

You get access to a pre-set credit limit that you can borrow against at any time. When you pay down the principal the credit becomes available to use over and over.  Also, you can maintain a revolving balance on both business credit cards and corporate credit cards.
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Filed Under: Business Credit Tagged With: business credit cards, business credit cards vs corporate credit cards, business credit vs corporate credit, corporate credit cards

5 Easy Approval Net 30 Accounts

January 29, 2019 By Marco Carbajo

Easy Approval Net 30 Accounts

In today’s post we’re going to reveal five easy approval net 30 accounts that help you build business credit. Whether you’re a startup or existing business this post will provide you a jump start in the business credit building process. easy approval net 30 accounts

Also, we have included a special bonus at the end of this post on how to add up to 8 trade lines to your business credit report in less than 30 days.

So, let’s get started.

What are Net 30 accounts?

A net 30 account is credit that’s extended to you from a company, that allows you to buy their products and services on credit and pay the invoice in 30 days. Net 30 accounts are also known as vendor credit, supplier credit and trade credit.

You probably see it all the time circulating on the internet stating you got to get net 30 accounts to start building business credit. Net 30 accounts from vendors and/or suppliers is just one of the types of credit that you can obtain as a startup, existing business or even a real estate investor.

Starting out, if you’re a brand-new company and have no credit file established you typically can expect a small credit line from $500 -$1k and some even start higher than that.

Many vendors do not require any personal guarantee or personal credit check so that’s why a lot of business owners like to start out with net 30 accounts because they don’t want to use their personal credit.

One of the things I want to share with you though is if you do have strong personal credit then consider leveraging it with business credit card funding on top of net 30 accounts. This will dramatically speed up the business credit building process.
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Filed Under: Business Credit Tagged With: easy approval net 30 accounts, net 30, net 30 account, net 30 accounts, supplier credit, vendor credit, vendor credit line

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