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Business Credit for Real Estate Improvement and Development

Business Credit for Real Estate Improvement and Development

What We Will Cover In This Article:

  • How you can immediately get business credit that’s linked to your EIN not your SSN even if you are a startup or have bad personal credit.
  • Then immediately start using it to get the credit you want and need from major sources like Walmart, Amazon, Staples, Apple, Lowes, Ford, Best Buy, Visa, MasterCard, Amex, and more
  • How you can access loans even when banks say no and even as a startup, with credit challenges, or if you lack collateral.
  • How to make money offering business credit and financing.

Will This Work For You?

What is Business Credit?

  • Business Credit is credit that is obtained in a Business Name
  • With business credit , the business builds its own credit profile and credit score for its EIN number.
  • This credit is in the business name and is based on the business’s ability to pay, not the business owners.
  • The business qualifies for high limit revolving store credit cards like Office Depot, Home Depot, Sam’s Club, Costco, Dell, BP, Walmart, Master Card, Visa, Amex, and auto loans.
  • The business becomes more lendable, providing easy access to credit lines and loans.

Business Credit Benefits

  • Has no effect on your personal credit and no adverse impact on your consumer scores.
  • Not based on consumer credit quality, get approved even with bad credit.
  • No personal guarantee is supplied, you’re not personally liable for your business debts.
  • Business credit is fast to build, get credit immediately after this webinar (4-6 months to complete the process)
  • Anyone can see your business reports: prospects, competitors, potential buyers of your business, and investors.
  • Greater borrowing ability, once you have both consumer and commercial credit.
  • Limits are 10-100 times higher than consumer credit (per SBA)
  • Get approved even when you can’t get a bank loan or alternate financing, even as a startup.
  • Access to loans and credit lines means you can fund your business using your profits to grow.
  • You can get business credit as long as you have a business in the USA.
  • You can build business credit for multiple businesses.
  • You can get business credit even as a non-profit.
  • You don’t have to buy bogus tradelines or shelf-cops.
  • Business credit quality determines:
  • If you will get approved for a business loan
  • How much you will get approved for
  • The terms you will pay
  • You can be denied financing based on business credit quality, even if you have no business credit established.
  • You can be issued a failing score for your business, even if you have no credit reporting, because you appear unestablished or possibly on the verge of filing bankruptcy.
  • Even with one account reporting, you can go from a failing score to a great score to become more lendable.
  • As you continue to grow your credit the business reporting agencies recommend you for more and more money, helping you get higher approvals on business credit cards, loans, and credit lines.

Step 1: Build Business Credibility

  • Lenders and credit issuers have a secret, unpublished set of approval standards you must meet to get approved.
  • If you meet these standards you get automated approvals.
  • If you don’t meet these standards, you will typically get denied when you apply.
  • You must set up your business credibly before getting credit and financing.
  • Set up your entity, preferably a corporation or LLC.
  • Stay away from business names that indicate that you’re high risk.
  • Get your free EIN number from the IRS.
  • Get the licensing you need to operate legally.
  • Make sure all online listing have the same information as what is on your application, the details must be congruent.
  • Have a professional email address and website.
  • Do not use Yahoo or Gmail.
  • Have a business address.
  • Virtual or home address can also work.
  • Do not use a PO Box or UPS Address.
  • Have a 411 business phone number .
  • Toll free number.
  • Fax number.

Step 2: Business Credit Reports

Reporting Agencies

Get set up with the business reporting agencies by first seeing if you have a profile established with them.

Dun & Backstreet

Get your DUNS Number with Dun & Backstreet

Build Business Credit

A DUNS number and Paydex score are just the beginning of starting to build business credit


Fix inaccuracies and derogatory items

Step 3: Get Initial Credit

  • Just like with consumer credit, you can’t get credit for your business unless you have an initial business credit profile and score established.
  • There are three ways you can get initial tradelines added to your business reports’
  • The first way to to pay $1,500-$2,000 for D&B’s Credit Builder.
  • Only builds your D&B credit

  • Most trades cannot be added
  • If you gave good personal credit now, you can secure up to $150,00 in unsecured, no DOC, 0% financing for your business, even as a startup.
  • This comes in the form of five business credit cards (with cash-out capability) that report to the business reporting agencies but do require a personal guarantee.
  • These accounts give you five tradelines with high limits.
  • Vendors usually offer Net 30 terms.
  • You will need to find vendors who do not report to business agencies and who will approve you with no prior credit.
  • Five of these accounts must be reporting before you can get revolving store credit.

  • Starter vendors are very hard to find because 97% of trade vendors don’t report to the business reporting agencies.

  • You can get initial business credit with start vendors who will give you initial credit even if you have no credit, no score, or no trade lines now.
  • Some starter vendors include:
  • Quill
  • Uline
  • Wells Fargo Secured Card

Step 4: Get Revolving Credit

Step 5: Get Cash Credit