Corporate Credit Card for Startups or Ecommerce Businesses

November 12, 2019 By Marco Carbajo

Corporate Credit Card for Startups

Did you know a corporate credit card is a special type of credit card issued to a company with millions or more in annual revenue?

In fact, with a corporate credit card there is no personal guarantee, the liability for nonpayment falls solely on the business itself rather than an individual.

What about business credit cards?

Business credit cards are designed for a business of any size, including small businesses or solo entrepreneurs. In almost all cases, business credit cards require a personal credit check and personal guarantee.

At the end of the day it’s all about risk for the card issuing bank. The stronger a business, the less risk it imposes, which is why companies doing millions in revenue are not required to supply a personal guarantor on corporate credit cards.

Be sure to check out our post on Business Credit Cards vs Corporate Credit Cards for a complete breakdown.

I’m sure you’re probably wondering if a corporate credit card is for companies doing millions in revenue how is it possible for a startup to qualify for one?

In today’s post we’re going to talk about how to get a corporate credit card as a startup or Ecommerce business without doing millions in revenue.

Not only that, but this corporate card issuer reports your monthly activity to two major business credit reporting agencies.
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How Business Credit Card Funding Benefits You

September 3, 2019 By Marco Carbajo

Business Credit Card Funding

In today’s post we’re going to cover everything you need to know about business credit card funding. This funding program is by far one of the easiest and fastest ways to obtain cash credit for a startup or existing business.

That’s quite a bold statement but we’re going to back up that claim in this post. Where else can you get up to $150k in unsecured credit for a business with no documentation, no personal credit reporting, plus build your business credit reports.

If you’re new to this type of funding let’s first cover what business credit card funding is. Business credit card funding is a service that acquires business credit cards under the name of the business, using the personal guarantee of the applicant.

The business credit cards obtained under our funding program only report to the business credit reporting agencies. This enables you to get access to working capital, establish a credit file for the business while protecting your personal credit at the same time.

So, let’s start with the first question most people ask.

Who is Business Credit Card Funding For?

If you answer ‘yes’ to any of the following, business credit card funding may be for you.

Do you want to separate your business and personal expenses?
Do you want access to working capital at any time, to use anywhere and for any business purpose?
Do you want to protect your personal credit?
Do you want to build your business credit?
Do you want access to revolving sources of cash & credit?

At the end of the day, whether you’re a startup or existing business, this funding is a fast, easy and truly hassle-free way to get access to business lines of credit.
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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.

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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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.

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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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.

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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