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10 Simple Steps to Manage Your Credit
By far the greatest invention the banks have ever come up with came out in the 20th century. Also the new field of Credit Management was born with the invention of the credit card. It is the most available out of any financial product out there. In...
Credit Repair and Avoiding Court
If you ever entered a courtroom, you know that the stress
elevates, even if you are in the room for someone else. Courts
are an automatic source for lifting stress. Moreover, to avoid
the courts means we have to abide by laws and pay our debts....
Discovering A Better Motorcycle Loan With A Better Credit Score
It is common knowledge that motorcycle financing companies’ base high importance on your FICO credit scores when approving motorcycle loans. However, what many people overlook is that their FICO credit score can dramatically impact the term on their...
Kill OFf Your Evil Credit Cards with a Home Equity Line of Credit.
Ok, tired of those ridiculous credit card statements? Time to refinance! If you own a home chances are your bank will help you out with your bills...and at rates that at a fraction of what your existing credit card rate. If you are paying the...
SuperCharged Secret 4, Credit Card Utopia
YOU SCRATCH MY BACK, AND I’LL BUY SOME MORE BEER!
Let’s just take a brief moment to recap:
If you’ve been following along on this journey with me, learning the 5 Super-Charged secrets to Credit Card Utopia, then you now know 3 very...
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How to Establish Business Credit Despite Your Personal Credit
Business credit is more of a science than an art. The first rule for this science is that it is not the same as personal credit.
Many would-be and aspiring business owners are not aware that establishing credit for a business is just as important as establishing personal credit. They also do not realize that a business can have a credit score separate from their personal credit score.
There is a world out there designed specifically for the business entity with a whole set of different rules.
Many entrepreneurs start out accumulating excessive personal debt to finance a business. Within a few months or even years, they find that the business is a monster and needs more food, also known as financing.
With credit cards maxxed to the limit, business owners find themselves in a crunch and searching for ways to raise capital. This is difficult to do when the time is not taken to establish business credit first. Business credit is a crucial first step and foundation to build upon.
First, a business is not real. It really doesn't exist until legal steps and processes are completed to say that it does exist. PEOPLE create businesses that have not been tested, employed or ever earned a paycheck. So, when you start a business and begin looking for financing, the bank WILL ALWAYS look at your credit because they can touch you (and your job, and your car, and your house...). You have a history. Your business does not.
They will pull YOUR credit report. Not the business. And do you know why? Because you have not
established a business credit profile separate from your personal credit profile.
Can this be done? How does a business establish a credit profile separate from your personal credit profile?
There is a credit system that will help you:
1. Lease vehicles like Lexus or Lamborghini, with added tax benefits.
2. Get a business line of credit or Small Business Loan or Business Credit Card for expanded Advertising, Inventory and other expansions your competitors can't get.
3. Invest in large projects like Commercial Property or Land or Construction that your personal credit isn't enough to guarantee.
4. Protect your personal assets from that of the business by not having to sign, no personal guarantee.
5. Start over with a new credit file if you need to, instead of just being stuck with your personal credit report
Start new businesses you always wanted to start with Business Loans.
6. Separate your personal credit from your new shiny business credit profile
7. Get a new credit report for every business you start. Establish business credit that's good even if you have poor personal credit (it's true!)
Anyone who wants to establish a REAL BUSINESS, with CREDIBILITY that's bankable ought to establish business credit.
About the Author
Karen L. Hardy, MSBA is a certified Business Finance Consultant, real estate investor and motivational speaker. To establish credit for your business, go to
http://www.destinycapitalfunding.com/business_credit_builder_program.htm
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