You would think many people were familiar with how personal credit works. First, they start with no credit profile, then get small credit cards to initially build up their credit score. As the credit grows, it is essentially used to qualify for loans, auto vehicle financing, even mortgages.
Business is the exact same thing!
A business, itself can also start with nothing, put small credit accounts on the report called “vendor” accounts to establish credit, and can be used to qualify for loans, auto vehicle financing and mortgages too.
Having established business credit provides business owners major advantages. If you have a personal credit score of 680 or better, with both personal and business credit built the business owner would have double the borrowing power as the owner would now have two profiles they capable of obtaining credit.
When business credit is built the right way, it can be built with no personal credit check, no social security number or guarantee. This is perfect for credit challenged individuals, and those smart business owners who want to eliminate as much personal liability on any business debts.
All too often do many business owners get into serious trouble losing personal assets, even filing personal bankruptcies, all to get rid of business debt. With business credit the business owner them self isn’t liable for the business debts, only the business is.
In short, in case of default, the lender couldn’t pursue the personal assets of the business owner.
Business credit limits are typically 10-100 times higher than consumer credit approvals as stated by the SBA. Another great benefit of business credit is that a business can get A LOT more money in approvals… even when denied by the bank!
Business credit can be built quickly and much faster than consumer credit. Typically, it can take 6 months for an initial consumer credit score to even be established.
It is very practical and possible for a business to qualify for credit within 90 days or less, then build its credit to a point where the business is getting $10,000 credit card approvals in 6 months or less.
Business credit is by far one of the strongest assets any business can have.
To learn more how to build business credit without your ssn copy and paste the link: get personal and business credit scores copy and paste the link: http://apply.creditcardbroker.com/aff_c?offer_id=311&aff_id=9145
Sign up for our special Credit Monitoring offer, and get a FREE personal credit audit to start rebuilding your credit copy and paste the link:
https://mtoltrustcorp.wixsite.com/mtoltrustcorp/credit-repair
https://mtoltrustcorp.wixsite.com/mtoltrustcorp/credit-login
To schedule time to talk more about starting your planning your estate, starting a business, repair your Credit call us now at 7865098288 to see what ’s on your business credit reports now… and to get credit for your business
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