Building and establishing Business Credit - Embrace(D) for Success - Coach RC

The Mighty Benefits of Business Credit Imagine having the ability to access $50,000, $100,000, even $250,000 for your business.   Whoa! Now imagine doing this with NO personal credit check and NO personal guarantee.   I can attest to the truth of this. Your success in business will be determined based on your business credit profile and score. With a good business credit profile, you will have near unlimited borrowing power. Without having a good business credit profile, it will be a difficult path to success without access to working capital and funding – unless you have the funds to personally invest.   If you do not have personal funds, you may hurt your consumer credit score by using personal credit.   Read my personal story and the hard knock lessons I learned by making this exact mistake four years ago. Almost all Fortune 500 companies use their business credit to secure funding.   Where are you going to learn this stuff?   Gaining acces...

Character, Capital, Capacity, Conditions, and Collateral Obtaining Business Credit   Character is all about you. It is about your personal history, your stability, and how reliable you are. This variable is more subjective than the others and is one of several reasons that it is beneficial to do business with a bank where you have established a relationship with the people who work there. In determining your character, the lender may look at your education, your work history, your personal income, and personal credit history. Again, it is important to remember that this is one area of business credit where relationships do matter! Capital is about how much you have invested in your business. Whether you are seeking a bank loan or a loan from a private investor, they will want to see that you are heavily invested in your own business. Generally speaking, the more of your personal money that you have invested in your business, the better it will look to a potential lend...