Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

How to easily build business credit that's not linked to your SSN in 4 simple steps

840 views

Published on

How to easily build business credit that's not linked to your SSN in 4 simple steps. Business Credit is perfect for people with bad perosnal credit profiles.

Published in: Business
  • Be the first to comment

How to easily build business credit that's not linked to your SSN in 4 simple steps

  1. 1. How to Easily Build Business Credit That’s Linked to Your EIN Not Your SSN in 4 Simple Steps
  2. 2. Do you want money and credit for your business? • Then you have made the right decision by attending today • ALL we are going to talk about is how you can obtain business credit and financing for your company… • And this webinar applies to you whether you’re a startup or established business, have personal credit challenges, or have been denied financing by a bank
  3. 3. What We Will Cover Today • Business Credit Decoded- What business credit REALLY is and how you can high-limit revolving business credit cards and lines very quickly • The reasons every business owner HAS to have business credit to survive and thrive • A look at actual business credit building results from people like YOU and see how you can get approved for similar high-limit business credit accounts • How to insure you qualify to be approved BEFORE you even apply for business credit
  4. 4. What We Will Cover Today • How to get copies of your business credit reports to see what they know about you now- and discover how to get a FREE DUNS number with Dun & Bradstreet saving you $799 • How to get approved for initial business credit even if you just opened for business TODAY • How to get credit with retailers Lowes, Walmart, Target, Best Buy, BP, Chevron, Sam’s Club, Costco, and Visa, MasterCard, and, Discover, and Amex credit that’s not linked to your SSN and requires NO personal credit check
  5. 5. Let’s Face it… Most People FAIL Building Business Credit • And the lack of business credit can cause the business to suffer, not thrive • 90% of the business population does not have established business credit • Many apply and get denied • Many try to apply and include their SSN on the application and have their personal credit pulled • Most have no idea where to get business credit • Most apply for credit in the wrong order and get denied and this makes matters worse
  6. 6. I don’t want to waste your time…
  7. 7. This seminar might be for you if… • You own a business or are thinking about starting one and are looking for cash and credit to start, build, and grow a thriving business • If you have ever been denied financing anytime in the past or think you might • If you want to obtain lots of money for your business that is not linked or reported on your personal credit and requires no credit check or guarantee from you • If you have or have ever had credit challenges or less than perfect credit
  8. 8. This Seminar Might Not be for You if… • You are looking for money to fall out of the sky without you doing any work to obtain it • You need $1 million dollars tomorrow • You are trying to obtain a bunch of credit with no liability with the intention of never paying it back • You are trying to build and sell bogus “shelf” companies that people don’t need
  9. 9. Let me take a moment and tell you why I can help
  10. 10. My Story • If you don’t think you can obtain business credit, I know how you feel • I owned several companies and was never able to build any business credit or obtain any financing and struggled to get started and just stay afloat • A buddy introduced me to a business credit building system that changed my life
  11. 11. Actual Business Credit Approval…
  12. 12. Actual Business Credit Approval…
  13. 13. Actual Business Credit Approval…
  14. 14. Actual Business Credit Approval…
  15. 15. Actual Business Credit Approval…
  16. 16. Actual Business Credit Approval…
  17. 17. 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 • With an established credit profile and score, the business will then qualify for credit
  18. 18. Business Credit • This credit is in the business name and based on the business’s ability to pay, not the business owners • Since the business qualifies for the credit, in some cases there is no personal credit check required from the business owner
  19. 19. Business Credit • The business can use its credit to qualify for revolving store credit cards like Staples, Lowes, Sam’s Club, Costco, BP, Wal-Mart, even MasterCard, Visa, and AMEX • The business can also qualify for credit lines and loans
  20. 20. Business Credit Benefits • A credit profile can be built for a business that is completely separate from the business owner’s personal credit profile • This gives business owners DOUBLE the borrowing power as they have both Personal and Business credit profiles built
  21. 21. Business Credit Benefits • Business credit scores are based only on whether the business pays its bills on time • A business owner can obtain credit much faster using their business credit profile versus their personal credit profile.
  22. 22. Business Credit Benefits • Approval limits are much higher on business accounts versus personal accounts • Per SBA, credit limits on business cards are usually 10-100 times higher than consumer credit
  23. 23. Business Credit Benefits • When done correctly Business Credit can be built without a personal credit check • Business credit can quickly be obtained regardless of personal credit quality
  24. 24. Business Credit Benefits • Most business credit can be obtained without the owner taking on personal liability, or a personal guarantee • This means in case of default, the business owner’s personal assets can’t be pursued
  25. 25. Business Credit Benefits • When a business owner applies for financing, their business credit IS reviewed • Not having business credit established will get an owner DECLINED for financing • There are no regulations that require the lenders notify the business owner for their reason for denial, so most never know
  26. 26. 4 Easy Steps to Quickly Building Business Credit
  27. 27. IMPORTANT NOTE… This is where I recommend you switch to a live walk-through presentation of the finance suite, then come back to this power point on slide 65
  28. 28. Business Credit Building – The business starts with no credit profile – The business gets approved for new credit that reports to the business credit reporting agencies – The business uses the credit and pays the bill timely – A positive business credit profile is established – As the business continues using the credit and pays bills timely it will qualify for more credit A business starts building a brand new credit profile much the same as a consumer does
  29. 29. Step 1- Build Business Credibility • The perception lenders, vendors, and creditors have of your business is critical to your ability to build strong business credit. • Before applying for business credit a business must insure it meets or exceeds all lender credibility standards • There are over 20 credibility points that are necessary for a business to have a strong, credible foundation
  30. 30. Business Name • It is very important that you use your exact business legal name • Your full business name should include any recorded DBA filing you will be using • Insure your business name is exactly the same on your corporation papers, licenses, and bank statements
  31. 31. Corporate Entities • You can build business credit with almost any corporate entity type • If you truly want to separate business credit from personal credit your business must be a separate legal entity not a sole proprietor or partnership • Unless you have a separate business entity (Corporation or LLC) you might be "doing business" but you are not truly "a business“ • You need to be a Corporation or an LLC in order to separate personal from business +
  32. 32. EIN • Whether you have employees or not, your business entity must have a Federal Tax ID number (EIN) • Just like you have a Social Security Number, your business has an EIN • Your Tax ID number is used to open your bank account and to build your business credit profile • Take the time to verify that all agencies, banks, and trade credit
  33. 33. Business Address • Business Address –Must be a real brick-and-mortar building –Deliverable physical address –Cannot be a home address –Cannot be a PO Box –Cannot be a UPS address • Some lenders will not approve and fund unless this criteria is met
  34. 34. Business Address • Business Address Solutions – Address Only - Receive mail and packages at your dedicated business address. – Virtual Office - Professional business address, dedicated phone and fax numbers, receptionist services, and part-time use of fully furnished offices and meeting rooms. – True Office - Your own full-time private office with receptionist services, dedicated phone and fax, internet, full furnishings, meeting rooms, and more.
  35. 35. 411 • You must have a dedicated business phone number that is listed with 411 directory assistance, under the business name • Lenders, vendors, creditors, and even insurance providers will verify that your business is listed with 411 • A toll-free number will give your business credibility, but you must have a LOCAL business number for the listing with 411 directory assistance
  36. 36. Phone Number • Lenders perceive 800 Number or toll-free phone numbers as a sign of business credibility • Even if you're a single owner with a home-based business, a toll-free number provides the perception that you are an even bigger company • It's incredibly easy and inexpensive to set-up a virtual local phone number or a toll free 800 number
  37. 37. Phone Number • A cell or home phone number as your main business line could get you "flagged" as an un-established business that is too high of a risk. • DON'T give a personal cell phone or residential phone as the business phone number • You can forward a virtual number to any cell or land-line phone number
  38. 38. Fax Number • Lenders perceive a credible business as one with a fax number • As a business you will need a fax number to receive important documents, you will also need it to fax in some of your credit applications • You can setup an e-fax that goes directly to your email
  39. 39. Website • Credit providers will research your company on the internet • It is best if they learned everything directly from your company website. • Not having a company website will severely hurt their chances of obtaining business credit • There are many places online that offer affordable business websites so you can have an internet presence that displays an overview of your company's services and contact
  40. 40. Email • It is important to get a company email address for your business. • It's not only professional, but greatly helps your chances of getting the thumbs up from a credit provider. • Setting up a business email address is just too easy and inexpensive to neglect
  41. 41. Email • Avoid using free email services like Yahoo and Hotmail • There is nothing worse than credit providers seeing an email address like partychic2009@yahoo.com • The Email address should be yourcompany.com • A great example is an email
  42. 42. Bank Account • Your business banking history is vital to your future success of being able to secure larger business loans • The date you open your business bank account is the day that lender's consider your business to have started • So if you incorporated your business 10 years ago, but you just opened the business bank account yesterday, then your business started yesterday • The longer your business banking history, the better your borrowing potential will be
  43. 43. Bank Account • Having a high account balance is essential in obtaining an excellent Bank Rating • Having a good Bank Rating is essential for approval • Try to keep a bank balance of $10,000 or higher for a High 5 Bank Rating
  44. 44. Licensing • One of the most common mistakes when building credit for your company is non-matching business addresses on your business licenses • Even worse is not having the "required" licenses for your type of business to operate legally • You will need to contact the State, County, and City Government offices to see if there are any required licenses and permits to operate your type of business
  45. 45. Licensing • State business filings listed correctly • County license and/or permit filings listed correctly • City license and/or permit filings listed correctly • IRS filings listed correctly
  46. 46. Business Listings • Take the time to verify that main agencies (State, IRS, Bank, and 411 national directory) have your business listed the same way and with your Exact Legal Name. • Also take the time to ensure every bill you get (power bill, phone bill, landlord, etc.) has the business name listed correctly and comes to the business address.
  47. 47. Step 2- Obtain Business Credit Reports • Business Credit reports are offered by Experian, Dun & Bradstreet, and Equifax • You will first want to get a copy of your business credit reports to see what is being reported
  48. 48. Experian • Visit http://www.smartbusinessreports.com/ for a copy of your Smart Business report • $49-99 for Smart Business Report • Find out how many trade lines are reporting, see if you have a business credit score assigned, see if you have an active Experian Business Profile, and check on recent inquries
  49. 49. Equifax • You can purchase a copy of your Equifax Small Business Credit Report here http://www.equifax.com/small-business/credit-report/en_sb • It typically takes more time to create a file with Equifax Small Business than D&B and Experian • This is why it's important to apply with the credit providers who report to Equifax • $99.95 for a full report
  50. 50. Dun & Bradstreet DUNS Number • Obtaining a Dun and Bradstreet number (D-U-N-S #) begins the process of building your business credit profile with them • Your D-U-N-S # will also play an important role in enabling your business to borrow without a personal guarantor. • http://www.dnb.com/ • $299- 699 per DUNS Number
  51. 51. Dun & Bradstreet • You can also enroll for the DNBi SelfMonitor to monitor your credit during the building process • A subscription for D&B Self Monitoring is $39-99 per month • Activate your DUNS # and get your file a D&B Rating •
  52. 52. Step 3- Obtain Vendor Accounts • A business credit report can be started much the same as a consumer report commonly is, with small credit cards • The business can be approved for small credit cards to help them build an initial credit profile • These types of initial cards in the business world are commonly referred to as “vendor credit”
  53. 53. Vendor Accounts • A vendor line of credit is when a company (vendor) extends a line of credit to your business on "Net 15, 30, 60 or 90" day terms. • This means that you can purchase their products or services up to a maximum dollar amount and you have 15, 30, 60 or 90 days to pay the bill in full. • So if you're set-up on Net 30 terms and were to purchase $300 worth of goods today, then that $300 is due within the next 30 days.
  54. 54. Vendor Accounts • You can get products and services for your business needs and defer the payment on those for 30 days, thereby easing cash flow • And some vendors will approve your company for Net 30 payment terms upon verification of as little as an EIN number and 411 listing
  55. 55. Vendor Accounts • Always apply first without using your SSN. • Some vendors will request it and some will even tell you on the phone they need to have it, but submit first without it. • When your first Net 30 account reports your "tradeline" to Dun & Bradstreet, the DUNS system will automatically activate your file if it isn't already. This is also true for Experian and Equifax.
  56. 56. Vendor Accounts • You need to have a total of at least five (5) Net 30 day pay accounts reporting. • Some vendors require an initial prepaid order before they can approve your business for terms. • Your vendors do not necessarily have to serve 100% of your business needs.
  57. 57. Vendor Accounts • Pay your Net 30 vendor accounts in-full and on-time • You must be patient and allow time for the vendors' reporting cycles to get into the reporting systems • It typically takes 3 cycles of "Net" accounts reporting to build credit scores
  58. 58. Vendor Accounts • Most Merchants and major retailers do offer business credit, they just don’t advertise it • There is no benefit to the merchant to promote credit with no personal liability if the business owner is willing to take on that liability • So they don’t promote their business credit cards and regularly ask for a SSN
  59. 59. Step 4- Obtain Revolving Accounts • After 5 trade lines are established using vendor accounts, obtaining revolving accounts is the next step • Revolving accounts are cards a business owner can use and not be required to pay the full balance owed each month
  60. 60. Obtain Revolving Accounts • Revolving account approvals will begin coming from stores • Store revolving credit must be obtained before the business owner starts getting Visa, MC, Amex, type cards
  61. 61. Obtain Revolving Accounts • Most stores will NOT approve a business owner for business credit unless the owner has an established credit profile and score, just like in the consumer world • Vendor accounts must be used first to establish a profile and score, then store credit can be obtained • It usually takes only 90 days or less to establish a
  62. 62. Obtain Revolving Accounts • Once 10 total accounts are on the credit, an owner can then start applying for Visa, MC, Amex type credit • Approval amounts will be equivalent to the highest credit limit account on the business report • Try to have 10 accounts with at least one of them having a 10k high limit
  63. 63. Obtain Revolving Accounts • It is essential to keep using the credit, keep applying for more, and talk with credit providers to raise credit limits • If you do this, business credit will keep growing until higher limit credit lines are obtained, within 6-12 months
  64. 64. The Ultimate Business Credit Solution • You’re at this seminar because you want the easiest streamline solution to build business credit • If you’re like me, you want business credit so you can get the credit and funding you need to have the business you have always dreamed of having
  65. 65. The Ultimate Business Credit Solution • With business credit you can start a credit profile quickly and obtain credit that’s not linked to your SSN- so even if you have bad credit you can still get approved • IMMEDIATELY you can start obtaining net 30 accounts giving you terms on things you might need and have to pay for on the spot now using your personal funds or profits
  66. 66. The Ultimate Business Credit Solution • Get approved for real store credit at stores you are buying supplies from now to run your business… and do it without using your personal credit or guarantee • Get approved for Visa, MasterCard, Amex, and Discover credit cards with MUCH higher limits and more spending power than with consumer credit cards
  67. 67. Who the Business Finance Suite is Right for • Business owners who want to build business credit but don’t know how, or who have failed before • Visionaries who want to build and grow their own business but don’t have the needed capital or credit to do it • Business owners who have applied for financing at their bank and who have been turned down
  68. 68. Who the Business Finance Suite is Right for • Business owners who want to see their business succeed and who know that it will take $$$ to make that happen • Business owners who are dedicated to the idea of building their corporate credit to get funding, and who aren’t looking for a “get rich quick” scheme
  69. 69. The Business Finance Suite • You receive access to your own Business Finance Suite for your business • Access to the full 20 point lender credibility checklist • Access to the largest supply of business credit building and vendor and revolving sources anywhere on the planet • Access to the largest supply of Visa, MasterCard, Discover, and Amex credit
  70. 70. The Business Finance Suite • Underwriting guidelines for all business credit sources • Access to the Automated Funding Approval Engine and the largest supply of business funding and sources and products anywhere • Access to your own certified finance officer when you qualify for business finance programs • Once-click application auto population for fast approval
  71. 71. The Business Finance Suite • Entrepreneur and business credit weekly webinar access (help when you need it) • Entrepreneur and business credit emails each week with invaluable tips and tools (that will get stuff done) • Business credit knowledge builder video series • Full customer support to help with any questions about getting and improving your business credit whenever you have them
  72. 72. Getting Started • The Business Finance Suite regularly retails for $3,699 • We have found that our best customers and the ones who have the most success are the ones who take action • So, today as part of this seminar if you get this right now you can…
  73. 73. Getting Started • Save over $1,000 with our one-payment option of $2,500. • Contact us for financing options.
  74. 74. Getting Started • Complete the order form we’re supplying to you to get started QUICKLY • Once you complete your order form you will receive your login credentials in 60 minutes or less • Wait there’s more…
  75. 75. Seminar Bonuses • FREE access to Experian Smart Business Data ($600 value) • FREE DUNS number AND credit file activation with Dun & Bradstreet ($799 value)
  76. 76. Guarantee We guarantee that you will get at least $50,000 in real usable credit for your company in 12 months or less… or our team of business advisors will work with you until you do
  77. 77. Even More Seminar Bonuses • FREE 411 Listing for your business • One-on-one initial 30-60 minute coaching call with an expert business credit advisor
  78. 78. To Recap, You Receive… • You receive your own finance suite for your business • You get access to all vendor, revolving, and cash credit sources with underwriting guidelines so you can successfully get credit • You get access to the lenders’ secret 20 point credibility check and one-click auto population to complete application- which saves you time, effort, and money and helps you to succeed • Entrepreneur and business credit weekly webinar access and emails each week with invaluable tips and tools
  79. 79. To Recap, You Also Receive… • Access to thousands of funding sources, over 30 core funding programs ( and the information you need to get credit) • Access to our automated underwriting approval engine, and your own finance officer to walk you through funding approvals • Business credit knowledge builder video series (for more knowledge and answers to your questions when you need them) • Full customer support to help with any questions WHEN you have them
  80. 80. If You Get Started Today You Also Receive… • FREE access to Experian Smart Business Data ($600 value) • FREE DUNS number AND credit file activation with Dun & Bradstreet ($799 value) • FREE 411 Listing for your business • One-on-one initial 30-60 minute coaching call with an expert business credit advisor
  81. 81. Guarantee We guarantee that you will get at least $50,000 in real usable credit for your company in 12 months or less… or we will work with you until you do ( by the way, this is VERY rare, when you follow our system and work with us you get your credit)
  82. 82. Very IMPORTANT Notice! This offer is ONLY available today, and ONLY available here at this event! This might be the one, and only, chance you get to get your hands on life-changing business credit and financing for your business
  83. 83. Order My Business Credit Mastery Book Today! Business Creit Mastery: Learn The Secrets Of Business Credit

×