Build Business Credit by Going Green

April 29, 2010 By Marco Carbajo

Build Business Credit

Last week on Earth Day more and more individuals, corporations and governments made personal commitments towards creating a global green economy.

Did you know you can also build business credit for going green as well?

There are many ‘Go Green’ companies willing to extend credit to your business in an effort to help you become a green company. These credit lines give you access to various business and consumer products designated as eco friendly.

Each purchase made using your line of credit helps establish business credit because your payments are reported to the business credit bureaus.

One company takes it a step further by taking 10% of each of your business purchases and donating it to a “Green Organization.”Now that’s what I call supporting the environmental movement.

If you think going green will cost too much money then think again because in the long run it can save your business a bundle. For example, high-efficiency light bulbs will cost you 75% less than standard ones and last ten times longer.

In addition, more and more consumers prefer to do business with a company that’s eco-friendly so going green should be an important part of your company’s branding strategy.

Companies like Johnson Controls saw an increase in their sales due to its environmental efforts. By going green they were able to stand out in their industry which helped gain attention for its business resulting in increased revenues.

Before you apply be sure to have the following in order to qualify:

Federal Tax ID#
Minimum of two years in business
Business listed in 411
Business address
Business bank account

Keep in mind you can get approved if your business is less than two years old but your initial line of credit will be much less.

You won’t have to supply a personal guarantee nor will your personal credit be checked but more than likely you will need to put 20-30% down on purchases and finance the rest.

One of the unique differences with some of these new business-friendly creditors offering green products is that they allow you to finance your purchases while the majority of vendors require that your invoices be paid in full usually within thirty or sixty days.

Once you get approved you can start by greening your office which will cut your energy costs. This is not only good for the environment but also for your company’s bottom line.

This new age of green financing is truly an exciting opportunity for your company to go green, build small business credit, cut energy costs and support the environment.

As the green movement makes headway into the corporate world, and small businesses like yours are taking action I believe there will be an even greater demand for green credit financing for purchasing eco friendly products so more companies like yours can go green!

Are you ready to Go Green and apply for Green Credit Financing for your business? Become a member of my Business Credit Insiders Circle and gain access to a proven step by step business credit building system? A system that provides you access to green credit sources,vendor lines of credit, business credit cards, funding sources and lenders that report to all the major business credit bureaus. Submit your name and email below for details and receive a free audio seminar ($597 value) =>

Marco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. A membership system helping business owners build small business credit. He is a weekly columnist for Dun & Bradstreet Small Business Solutions, a business credit blogger for All Business & American Express Small Business and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.

Building Business Credit for Your Small Business

April 15, 2010 By Marco Carbajo

Building Business Credit

If you hope to qualify for financing for your business without having to use your personal credit then building a solid company foundation with positive business credit history is mandatory.

Here is a brief overview of the steps you will take to move you through the process and get your company on the path to obtaining the funding it needs based on its own creditworthiness.

Shelf Corporations

If you think purchasing shelf corporations will open up the credit floodgates for your company think again! These aged corporations provide the perception of years in business which is important in the eyes of lenders and customers. But there is a lot more to building corporate credit then age alone but if you do decide to purchase one make sure it’s reasonably priced and at least two years old with no liabilities attached.

Dun & Bradstreet

Once you have a corporation set up and completed all the necessary corporate conformity guidelines including but not limited to 411 listings, verifications and licenses you will be ready to register with Dun & Bradstreet.

Establish Business Credit

Once your registered you will need to establish business credit by first applying for vendor credit accounts with companies that report on a monthly basis. Once you get approved and start making purchases make sure to pay your invoices on time and monitor your files.

To get listed with Corporate Experian and Equifax Small Business you will need to establish accounts with companies that report to these specific bureaus.

Business Credit Cards

One of the ways you can start establishing business credit is through a secured card. This helps prevent your company from incurring any revolving debt so it’s a good place to start but as you continue building corporate credit you may soon qualify for no personal guarantee business credit cards.

If you must apply for business credit cards that requires your personal guarantee be sure that it reports your payment history to your business credit files and not your personal credit reports.

Small Business Loans

Obtaining small business loans can be difficult but it’s not impossible. It really depends on the level of bank credit that you have established. I would first focus on securing a business line of credit for your company so you can have the funds readily available when needed. This is much more convenient then having to apply for a loan every time your business needs the funds.

Business Credit Information

Finally you should stay plugged in and up to date with the latest news, resources and business credit information so your company can continue to expand its funding capabilities as well as leverage its diversity of credit.

Building business credit is not something you should spend your precious time or resources trying to figure out. It’s simply smart business to utilize a system that can take you through the process. With the right plan and execution of that plan you can expect your company to qualify for business financing without having to put your personal credit and personal assets at risk.

Looking to access a proven step by step business credit building system? A system that provides you access to premium vendors, business credit cards, funding sources and lenders that report to all the major business credit bureaus? Become a member of my Business Credit Insiders Circle. Submit your name and email below for details and receive a free audio seminar ($597 value) =>

Marco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. A business credit builder membership helping business owners build business credit. He is a weekly columnist for Dun & Bradstreet Small Business Solutions, a business credit blogger for All Business & American Express Small Business and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.

How to Establish Business Credit with a Reporting Bank Loan

March 18, 2010 By Marco Carbajo

Establish Business Credit with a Bank Loan

When you build business credit nothing looks more powerful on your business credit file than a business loan. The reason behind this is because lenders and creditors know how difficult it can be and the level of scrutiny your business undergoes in order to get a bank loan approval.

While the majority banks are declining loan applications you’re probably wondering how you can possibly get approved for a business loan.

Well I have good news for you because there is a sure fire way to establish business credit with a reporting bank loan even if you are Startup Company with less than perfect credit.

So what is this sure fire bank loan strategy?

It’s called the CD secured bank loan and provides a powerful way to establish corporate credit and bank credit for your business.

So how does it work?

Basically you are securing a loan with a certificate of deposit at the bank willing to offer this type of business loan. You make a deposit into a CD account at a bank that’s SBA approved and your business loan will match 100% of the value of the CD.

When you apply for these loans make sure the exact name of your company is on the application along with your Federal Tax ID. Banks will report your payment history on this loan to Small Business Equifax and Corporate Experian.

Now keep in mind not all banks offer these types of loans and the ones that do will require a minimum loan amount which is typically $5,000. When you have a bank loan that reports on your business credit files you can establish business credit scores and profiles that will enable your business to obtain the cash financing it needs.

Not too long ago I covered how to build a strong business credit file by having the right blend of credit. By adding a reporting bank loan along with vendor credit lines and revolving credit you can imagine how this will look in the eyes of lenders and creditors when they view your file.

Adding a bank loan on your file also helps categorize your file with other businesses with bank loans as well. This will help when creditors and lenders purchase lists from the business credit bureaus for marketing pre solicited credit offers.

This strategy works as long as your personal credit scores are in the mid 600 range. If your scores are low then you may want to consider speaking with a local banker or even use the transfer of ownership strategy.

Once you secure the $5,000 or more you can always deposit the money from the loan and use it exclusively to re-pay itself. Remember your money is in a CD earning interest so it’s best to keep making your loan payments for at least 12 months before paying it in full. If you pay your loan off in a couple of months you will not build enough payment history with the bank and your credit file.

This strategy will help your business establish corporate credit and qualify for offers like pre approved no pg business credit cards.

To access banking contacts that provide CD secured loans consider joining my Business Credit Insiders Circle and add a bank loan to your business credit file today!

To access business credit insider secrets, premium vendors, leasing companies, business credit cards, and lenders that report to all the major business credit bureaus become a member of my Business Credit Insiders Circle. Submit your name and email below for details and receive a free audio seminar ($597 value) =>

Marco Carbajo is a business credit specialist, author, speaker, and founder of the Business Credit Insiders Circle. He is a weekly columnist for Dun & Bradstreet Small Business Solutions, a business credit blogger for All Business & American Express Small Business and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.

How GMAC helps Small Business Owners Establish Business Credit

March 1, 2010 By Marco Carbajo

Establish Business Credit with GMAC

While there are many reasons to establish business credit many small business owners overlook the advantages of financing their autos with corporate credit. The key is keeping all your business related expenses and obligations separate from your personal credit files.

This includes minimizing the use of personal credit checks and personal guarantees to get business credit. Are your business debts reporting on your personal credit files? Does your auto loan or lease for your company report to your personal credit files?

The good news is there are companies like GMAC that understand the importance of keeping personal obligations separate from your business debts. More importantly one program it offers reports your payments to your business credit report and not your personal credit files.

Third Party Guaranty by GMAC

This program was specifically designed for business owners to keep their automotive financing separate from personal credit. It even allows you to keep your personal name off of the vehicle contract and title. Now that’s what I’m talking about!

Now you may have to provide the additional financial backing that GMAC requires like a personal guaranty if your established corporate credit cannot support the loan or lease.

Here’s a quick rundown of the benefits:

Build credit in your business name only.
Your vehicle purchase or lease will not be reported on your personal credit reports, unless your business defaults.
Added protection from liability, since your name remains off of the vehicle’s title and contract.
Personal privacy since you are only personally contacted in the event of default

Now to take it a step further suppose your business needs to purchase multiple vehicles. GMAC also has a program called the GMAC Commercial Line of Credit.

The best part of this program is your business can provide the financial data it needs to establish a business line of credit with GMAC one time rather than provide the same information for each vehicle purchase. This is extremely convenient especially if you have to purchase or lease multiple vehicles at different times and at different dealerships.

Think about the positive impact this will have on your personal debt-to-income ratios if suddenly your future auto loans or leases stop reporting on your personal credit reports and now report to the business credit bureaus.

There are also several other major automotive companies like GMAC that offer vehicle financing programs designed to establish business credit while protecting your personal credit files. We offer these and many other credit sources to members of my Business Credit Insiders Circle.

Take advantage of all the benefits that major corporations have been utilizing for years.

To your business credit success!

Business Credit Resources

» Start Business Credit

» Business Credit Builder

» Business Credit Blog

To access business credit insider secrets, corporate fleet suppliers, premium vendors, leasing companies, business credit cards, and lenders that report to all the major business credit bureaus become a member of my Business Credit Insiders Circle. Submit your name and email below for details and receive a free audio seminar ($597 value) =>

Need to Establish a Business Credit Account for your Non-Profit?

February 19, 2010 By Marco Carbajo

Establish Business Credit

As a non-profit organization there are many opportunities for you to get business credit? For example, Wal-Mart offers a Community Business Credit Account specifically designed for non-profit organizations such as charities, hospitals, schools or religious organizations.

When you apply for the account you will need to provide the legal name of your organization, your tax exempt 501 (c)(3) number and DUNs number.

You will also need to determine how many authorized buyer cards you want with the maximum set at 99. I also suggest that you consider selecting the purchase order option.

Now on this new business credit account you are required to furnish your social security number but I would suggest leaving it blank if you have a strong Dun & Bradstreet file with an 80 paydex score and at least five or more trade accounts with decent credit limits.

You can complete the new business credit application online but you will need to print it out and fax it upon completion.

Now keep in mind you can build business credit with this account and receive larger extensions of business credit but each month you will have to pay the balance in full because it’s a net 30 account.

The Wal-Mart Community Account Application is specifically designed for non-profits so if you’re company is a for-profit business then you will need to check out Wal-Mart’s Business Credit Account.

As a non-profit I encourage you to establish business credit with companies like Wal-Mart that are willing to provide business credit cards or corporate accounts that cater to non-profit community organizations.

To your Business Credit Success!

Business Credit Resources

» Business Credit Seminar

» Business Credit Builder

» Business Credit Blog

To access business credit insider secrets, premium vendors, leasing companies, business credit cards, and lenders that report to all the major business credit bureaus become a member of my Business Credit Insider’s Circle. Submit your name and email below for details and receive a free audio seminar ($597 value) =>

Marco Carbajo is a business credit specialist, author, speaker, and founder of the Business Credit Insider’s Circle. He is a weekly columnist for Dun & Bradstreet Small Business Solutions, a business credit blogger for All Business & American Express Small Business and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.