Business Credit & Funding. What is Business Credit?
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Transcript of Business Credit & Funding. What is Business Credit?
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Business Credit
& Funding
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What is Business Credit?
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Business CreditCredit obtained in a Business Name & Business Entity
The Business builds its own credit profile & score
A Business with an established credit profile & score leads to MORE CREDIT
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Business CreditThis credit is in the BUSINESS’S name
Based on the business’s ability to pay:NOT the Business Owners
No personal credit check required in most cases
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Business Credit
Scores are based solely on whether the business pays its bills on time
Obtain credit much faster using their business credit profile
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The 9 Most Devastating Mistakes
Entrepreneurs and Business Owners
Make When Financing Their Businesses…
and How to Avoid Them
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““
How Much Are You
Willing To Risk For Your
Business?
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Devastating Mistake #1
Not recognizing opportunity costs
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Devastating Mistake #2
Not following up on the credit-building process
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Devastating Mistake #3
Rushing the process for building corporate credit
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Devastating Mistake #4
Not setting up a corporation and building corporate credit – the RIGHT way
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Devastating Mistake #5
Using your family’s money
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Devastating Mistake #6
Not paying your bills on time …100% of the time
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Devastating Mistake #7
Contaminating your credit
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Devastating Mistake #8
Putting personal assets at risk
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Devastating Mistake #9
Using personal credit to finance your business
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THE HUFFINGTON
POST
While the average bank in America uses
8 percent of its deposits to make small-
business loans, we found that of the
nation's 10 biggest banks, six used less
than 3 percent of their deposits to
make small-business loans“ “
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AKA
No matter what the banks use in marketing campaigns….
They are NOT giving out small business loans
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Growth
Employees
Widgets
Trucks
No Cash For:
And what’s even MORE important…
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If I need the cash….
I use my personal credit cards
I am fully responsible (all my assets) for the growth of my business
That’s very VERY risky
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That’s Like Playing Russian Roulette
…Not Cool
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So What Does That Mean?
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Quite frankly…
It means business’s cannot grow
If you’re not growing, you WILL wither and Die
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Because of this…
was born!
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Business Credit Ally
We were created to provide business owners with the capital needed to
GROW their business
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Your Business must have 3 separate
credit reports with:““
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6 Steps To Building Business Credit
The following 6 steps are The MAGIC
Sauce to insure success in building
business credit.
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Step 1- Setting The Foundation For Building Business Credit
Making sure your business is ready to build business credit.
Your business entity structure, what it takes to build business credit.
You will be building strong business credit and you should protect it.
Why your business location is vital to building business credit.
Your business must be in 411 directory assistance to get approved.
The new items lenders are checking to see if your business is credible.
Your business credit identity EIN the tracking and how you get one.
Why you must verify that all agencies listings are “exactly” the same.
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Step 2- Optimizing Your Banking, Assets, And Revenue To Maximize
FundabilityYour bank accounts, a vital business credit building component
Identifying the business assets and availability for credit use. First round of funding both with and without a personal guarantee options available
The business owners can play a key role in building business credit
Bank Visa and MasterCards that can be used as cash and that build credit
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Step 3- Getting Set Up With All Three Business Credit Reporting Agencies
Dun & Bradstreet Credit Report
Experian Business Profile Report
Equifax Small Business Credit Report
Credit scores, what are excellent business credit scores
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Step 4- Vendor Credit (Net 30 Day Accounts)
The “Starter Set” of Net 30 Vendors
Vendors for Computers & Electronics
Vendors for Office Supplies, Marketing & Print
Vendors for Building & Industrial Supplies
Vendors Who are Major Retail & Specialty Providers
A summary of your selected vendor accounts & applications
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Step 5- National Revolving Credit Card Accounts
The “Starter Set” of Revolving Credit Accounts
Revolving Accounts for Major Credit Card Providers
Revolving Accounts for Office Resources & Supplies
Revolving Accounts for Building & Décor Supplies
Revolving Accounts for Gas & Fleet Management
Revolving Accounts for Major Retail & Specialty Providers
A summary of your selected revolving credit card accounts & applications
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Step 6- One Bank Loan, Why It Is Very Important And Exactly How To
Get It
Bank rating, what is it and how to use it to your advantage
Unique funding programs that are available sources of business cash and the second round of funding
Sources for finding personal cash that can be used in your business
Obtaining one bank business loan that reports to the credit agencies
Where to go to get the one bank loan that your business must have
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See how our business credit coaching and funding consultation Services stack up with the competition: “Other”
Companies
Largest Database of Business Lenders Y E S ! XData Integration of Over 100 Different CASH Business Lenders
Y E S ! X
Data Integration of D&B Y E S ! X
Data Integration of Experian Y E S ! X
Data Integration of Equifax Y E S ! X
Discount D&B File Y E S ! X
Certified Coaches Y E S ! X
One-on-One Coaching Y E S ! X
Coaches Pay Tied to Client Success Y E S ! X
Coaches Pay Tied to Customer Satisfaction Y E S ! X
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How it works…
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Business Owners will have
Their own customer portalInstant access to updates on funds
Hand holding through each step of the process
Audio and video desciptions
2 personal Business Credit coaches Ensure approval takes place
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6 Easy Steps In Funding Program
• The Foundation• Your Fundability• Credit Agencies• Selected Vendor Credit• Selected Credit Cards• Unsecured business financing
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Fundability
Over 30 funding products
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Tier 1 FundabilityUp to 150K. Guaranteed 50K
»No financials or revenues»No tax returns needed»Good with about 700 or higher
personal credit score »Good for starter businesses and
franchises»Good for business’s that don’t
want to show revenue
Basically a No-doc loan
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That’s 50 GrandGUARANTEED…
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Working Capital FinancingEven If You Have 500 Credit Scores…
Asset based lending.
Borrow money against the assets in the business
No credit issues to get approved
Again…50K guaranteed line of credit
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Niche FinancingFunding available based on the niche
you are in
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Have revenue and financials Willing to show tax returns
Profitable ROE and ROAYears of sustainable profitability
Up to 250K and SBA loans up to 12M
High End FinancingHigh Rollers Club
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Pricing
$2997 Setup Fee
Guaranteed $50K line of credit
Would you trade $2997 for $50,000?