Master Resell/Giveaway RightsYou do have the right to sell this report, offer it as a bonus in your packages, (digitalor p...
Scott J. Letourneau                           Chairman and Chief Executive Officer                              FAST BUSIN...
Mr. Letourneau has a BA in Finance, a Masters Practitioners Degree in NLP and is the author of " TheInsiders Guide to Inco...
15 Bonus Secrets to Help You Build Business Credit!Bonus Secret #1: The Best Process to ObtainBusiness Credit!       You w...
will be receiving vendor cards and should use those, in small amounts, for vendor supplies yourbusiness would need.       ...
Bonus Secret #2: Will Bankruptcy Hinder my Ability to  Get a Cash Loan or Line of Credit? Introducing the Tax ID  Number O...
Bonus Secret #4: Does a Home Based Business OwnerNeed Vendor Credit?        There are over 50,000,000 home based business ...
times you may need to be in business for 1-2 years. This of course is in direct relation to theamount of credit you are as...
Bank Lending Secrets Revealed!       Learn the “Answers to the Test” so You Can          Determine How Much Your Business ...
What you read below is the different categories and levels in each category for the threemain areas:♦ A business credit ca...
Bonus Secret # 9: The Mystery of the Liquid CreditScore!        Well, guess what? They use something called a liquid credi...
Bonus Secret # 12: How is it Possible that Your CreditScore could be 40-50 Points Higher Between CreditAgencies?       The...
Bonus Secret # 14: Derogatories Can Cause YourBusiness Request for a Business Credit Card, Line of Creditor Loan to be Rej...
How About Five More Extra Bonus Secrets!Extra Bonus Secret # 1: How Many Liens Can YouHave Personally Before You are Rejec...
Extra Bonus Secret # 3: How Much Money will YourBusiness Qualify for with a Business Line of Credit?     A lot of people a...
Typically, the banks can look at your last 3 months of bank statements to determine whatyour consistent sales are, to make...
What are others saying about FAST BUSINESS CREDIT?      "I recently interviewed Scott Letourneau on the Shared Vision Mast...
"Hi Scott!"       "I wanted to thank you once again for under-promising and over-delivering with the greatteleseminar you ...
Take the Next Step to Secure Business Trade and Cash                 Lines of Credit for Your Company!!       No doubt the...
Become an Affiliate Partner with FAST BUSINESS CREDIT:       FAST BUSINESS CREDIT gets offers every week from companies th...
Fast Business Credit Bonus Report 15 Bonus Secrets 4 2 09
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Fast Business Credit Bonus Report 15 Bonus Secrets 4 2 09

  1. 1. Master Resell/Giveaway RightsYou do have the right to sell this report, offer it as a bonus in your packages, (digitalor physical) give it away for free to your clients, on your blog, with material you sendout, etc. You also have the rights to pass these rights along to anyone who receivedthis report. You do not have the right to change the content in any way or quote itwithout giving credit to the author.Dedicated to Your Success!Scott LetourneauCEO© 2010, FAST BUSINESS CREDIT , Inc., ALL RIGHTS RESERVED.This book contains material protected under International and Federal CopyrightLaws and Treaties. Master Resell Rights as details above. 2www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  2. 2. Scott J. Letourneau Chairman and Chief Executive Officer FAST BUSINESS CREDIT, Inc. "Hi. Im Scott Letourneau and I started FAST BUSINESS CREDIT to help entrepreneurs get their business off to a fast start and have access to the cash and capital they need to grow. As you know 80-95% of entrepreneurs fail within the first five years, and the #1 reason is lack of cash flow! Like any field, business credit services have it share of misinformation. I am known for cutting through misinformation to provide my clients the best of the best and what really works vs. hype. Our programs will help you understand the full picture of what it takes in today’s economic environment to get access to both trade and vendor credit for your business. There is no magic pill in this area. The business credit area has changed dramatically over the last year. This powerful report will guide you through many of the Scott J. Letourneau costly mistakes to avoid and tips for success. Incorporate and Business Credit Expert I recommend you call FAST BUSINESS CREDIT at 1-888-313-6333 for a complete no cost analysis of your situation and what is possible and realistic (again no magic pills) for your business to secure in the area of cash and vendor credit!"Over 7 years ago, Scott Letourneau founded FAST BUSINESS CREDIT, Inc. and 13 years ago, NevadaCorporate Planners, Inc. He is also a busy lecturer, consultant and author.He is also a busy lecturer, consultant and author. Mr. Letourneau is recognized and recommended by topprofessionals, such as Sandy Botkin, Attorney/CPA, and Attorney Dr. Arnold Goldstein, as the foremostexpert on not only Incorporating your business but also on how to access capital to help your business getoff to a fast start!!To his 5,000+ clients, Mr. Letourneaus expertise has allowed them to incorporate with confidence and "gettheir business off to a fast start". 3www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  3. 3. Mr. Letourneau has a BA in Finance, a Masters Practitioners Degree in NLP and is the author of " TheInsiders Guide to Incorporating Your Business and Protecting Your Assets!” & “The Insiders Guide toSecuring Cash and Trade Credit for Your Business”.He has appeared on CNN Headlines News with Pat Summerall’s Success Stories and has also beeninterviewed by Channel 8 News, in Las Vegas, and various radio stations throughout North America for hisexpertise and experience.Plus he is a contributing author in the new book available now from Entrepreneur Magazine’s Start Upseries "Start Your Own Information Marketing Business – Your Step-by-Step Guide to Success".He was nominated for the real estate warrior of the year, in 2007 with helping real estate investors protecttheir assets!Scott is a rare combination of the best training from Tony Robbins, Dan Kennedy, Michael Gerber, and JayAbraham all wrapped into one speaker (Coach) Mr. Letourneau is happily married to De Ann, an amazingclassical violinist, and a proud father of three beautiful girls, Gracie, Rosie and Faith! 4www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  4. 4. 15 Bonus Secrets to Help You Build Business Credit!Bonus Secret #1: The Best Process to ObtainBusiness Credit! You want to be with a program where there is a process to guide you through the propersteps to build business credit and to work with a coach. This is a very dangerous process to begiven tools to do it on your own. Especially, with D & B the odds of making a mistake and not being in corporate complianceare very high which may cause your file to be “red-flagged” and put you in the costly situation ofhaving to start over and form a new company. It is not the cost of the new company that is the big problem, is it all the time and effort toupdate, your vendors, customers…with your new name. Look for a service where you are assigned a business credit coach! You should haveaccess through email and phone calls and it should be unlimited access to support you through theprocess. Typically, a business credit builder program will include a month or two with coaching andyou may pay for other time separately, some charge a much larger fee on the front end to include6 months of coaching. The key is that the coach is not only there to answer you questions but also to help holdyour accountable. I know that may not sound like fun, but the bottom line should be to help you getresults! They should be there to question you on where you are at, for example; “Have you completed this step? Okay, you’ve completed that. Now we can do this for you.” It’s going to be, “We’re going to do some things for you, and you’re going to have to dosome things.” It will all be outlined and you’ll have a coach that will tell you, “Okay, this is whereyou are. Did you get that done? Okay, let’s move on to the next step.” You should know the expected results in both cash and credit success. Most companiesgeneralize what that means plus over promise on how much you will receive and the time frame. The results you should expect to experience during the first month, after the corporatecompliance section, is some cash success. That would be in the form of a business credit card. Atthe same time, you would be completing applications and sending them in for vendor credit. You 5www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  5. 5. will be receiving vendor cards and should use those, in small amounts, for vendor supplies yourbusiness would need. Over a 4-6 month period of time, as you follow the program properly you should beobtaining vendor lines that could be upwards of $100,000 to $200,000. Within the first month, as you get some credit card lines where you can use some casheither to use for your business, or to improve your personal credit score (you may want to paydown some of your revolving personal debt to lower your ratios). The key to maximize your ability to get access to cash lines of credit over a 3, 6 or 9month period of time is to improve your credit score and pay down your personal revolvingdebt at the same time. Hopefully, through your marketing efforts in your business that will happenfor you! Ideally, along with working with a coach, you have access to online tools with a backoffice that will lay out the process for you that you will go through. It is important that it actuallyguides you through the process and allows you to randomly access all the information where youare likely to make mistakes. Most want to start looking for where to apply for business lines ofcredit, which would be a big mistake if that was available to anyone just starting. As you know thefirst step is corporate compliance! The first section you want to complete is typically called, corporate conformity. Thissection would include a number of things including: the business ownership, the tax ID number,the business address, if you needed a phone number listed in 411, so forth. There are quite a fewsteps. The next step is the credit bureaus for the business world, what they mean, how we’regoing to get you set up, what is required to do to get your scores, what has to happen to get yourratings. You will also need to learn how to understand those credit reports. The key is to work with your coach to monitor the reports during that time, and then moveto tier 2, tier 3, and tier 4 credit. There are various steps in those and various things to do. It is very helpful and time saving to work with a business credit builder that will fill out someof the applications for you, setting up some of the vendor credit that they will report, and you’ll havethose scores. Next is the bank application process. After the bank process, your company will have ratings and everything in place. Now, youare in a position to start working on credit cards that are non-personal guarantee. Everybody’s interested in what is called an EIN only business credit card. Because nomatter how bad your personal credit is you will obtain one. Because it is not based upon personalcredit at all, but on the levels of vendor credit you have established with D & B and your rating. These EIN only business credit card are non-personal guarantee. They typically start out at$5,000 to $10,000. Then you grow from there. 6www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  6. 6. Bonus Secret #2: Will Bankruptcy Hinder my Ability to Get a Cash Loan or Line of Credit? Introducing the Tax ID Number Only Credit Card! Unfortunately, yes, for the large cash lines. If you have a bankruptcy or a lot of negativeinformation on your personal credit file, the banks probably will disqualify you and we’ll have togo the other routes. It depends on how old the bankruptcy is. If it’s over 2 years, some business credit builderprograms will have some options. If it’s fairly new, you are looking at maximizing your vendorcredit options first, then after a few months look to the EIN Only business credit card, where theydon’t look at the personal credit at all. You may be able to obtain 2-3 of the EIN only business credit cards only. Those are notlarge cash lines of credit, but for most businesses these amount of extra capital properly investedinto marketing tools can really jump start a business! The levels for the EIN only business creditcards are around $5,000 to $10,000. If you got all 3, you’re only looking at between $15,000 and$20,000 max. But that’s more than what anybody is going to be able to get if they have abankruptcy and a 500 FICO score anywhere else, and it’s a place to start.Bonus Secret #3: The Importance of Your BusinessCredit Rating! When you have a full credit profile built the way we build it and you have some of thevendors that report, and in the order that we have them put on your credit profile, and the small tomedium to large, and some of the things that we do, you can get a rating. There are these creditcards, these 3 credit cards that we found that, if you have a particular rating, then you will qualify. The unfortunate thing of that is we can’t do that in the beginning. You have to gocompletely through and build that whole credit profile. Sometimes you can go to the banks three-quarters of the way through. You can go to thecredit cards the first month. You would get the vendor credit all along. You will not be able to get these credit cards until you have the rating. That’s one of the lastthings you will need in place. It will be a number between one and 5, with a letter behind it. It will be based on sort of the same things that you think of for Dun and Bradstreet creditscore. Payment history, size, how often. There’s different criteria that it will be based on. Whatyou want to have when you get through with your program is you want to have a Dun andBradstreet number, you want to have a Paydex score of 80 or higher, and then you want to havea rating of 1A, so you can get the tax ID credit cards. 7www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  7. 7. Bonus Secret #4: Does a Home Based Business OwnerNeed Vendor Credit? There are over 50,000,000 home based business owners in the U.S. Most of them have avery low overhead business, with no employees working in a home office. Since, they do not havean office with office supplies and employees there needs for vendor lines of credit are much lower.Typically, a home based business owner does not need a $50,000 line of trade credit at homedepot. They do need cash. Although, it is very important for them to develop the vendor credit and D&B profile; notnecessarily that they need vendor credit, but to build up their credit score and to build up theirrating with Dun and Bradstreet. Because that, as a worst-case scenario, will allow them to getaccess to some cash and credit cards.Bonus Secret #4: Is Your Current Corporation or LLC“Fried” from a Credit Prospective? As the saying goes, when you go it on your own, you are on your own! This is the bigconcern when you build your business credit profile on your own, even with D & B’s business creditbuilder services online. Mistakes happen often in the compliance section which end up causingthose serious about developing a business credit profile to have to form a new company! By law, Dun and Bradstreet, it’s a business, not a government agency. By law, they don’thave to remove anything. Many times, they don’t. Sometimes they will, if it can be proved and you get somebody that’s good to work withthere, they’ll take a couple things off. The cost of a corporation would be less than trying to go to court. You may win, I don’tknow. You may go to court and win and they would clean everything up. You spend $15,000,$20,000, and you get it all cleaned up. But for a tenth of that, you can get a new corporation.Bonus Secret #5: How the World of BusinessFinancing has Changed Over the Last Two Years and WhatYou Must Know! The finance world has changed, perhaps more dramatically in the last 1-2 years than anytime in our modern history. This has affected the results to be expected in the area of business credit and what resultsare likely. The length of time you had to be in business has grown longer. It used to be from day oneyou couple apply for a business line of credit, then 3-6 months, then 6-9 months and now many 8www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  8. 8. times you may need to be in business for 1-2 years. This of course is in direct relation to theamount of credit you are asking for! For example, if your company was in business for over 2 years, you’d get $50,000. If youwere at one year, you could get $30,000. They’d do $15,000 or so for startups under 6 months. But those all have gone back up 2 years solid, and sometimes 3. Again, if you make it pastthat magic 2-year mark and you’re still in business, then they’re saying, “Okay, let’s take a look atwhat you’ve got.” The banks have also gotten away from a stated income. I shouldn’t even call it statedincome, because it’s not. It’s a no documentation application. And now, most of thoseapplications are “And by the way, let me see your last 2 years of taxes on your personal andbusiness.” The Role of Profitability in Bank Financing! If You’re Paying Taxes, You’re Making Money. If You’re Making Money, You can Borrow Money! That ties into that profitability piece. You got to make sure your accountant pays taxes. Butif you’re paying taxes, you’re making money. If you’re making money, you can borrowmoney. Banks do not like to hear about hope; “Hey, if this guy would just give me a chance at thisdeal, it’d work.” But youve got to understand that the banks are in the business of loaningmoney to profitable businesses so they can expand and make even more money. Your jobis to make your business profitable, or at least appear profitable on your financial statements, tothe point that a lender’s going to say, “Okay, you have enough extra income to pay me back whenI give you this money.”Bonus Secret # 6: The Golden Strategy When You haveHigh Revolving Debt! The number one reason why business owners get rejected for a business line of credit froma bank is because their personal revolving debt it too high! Meaning, your business is up andrunning, your personal credit score is close to 700 but your revolving debt is 60,70, 80 or higher!The banks do not feel comfortable giving you more money for the business when you areconsidered way behind personally with the amounts of revolving debt (mainly credit card debt). The key solution is to get a small loan in the name of the corporation or LLC and use thatmoney to pay down your revolving debt to 30% or less. Then come back in 60 days and apply forthe line of credit at a larger level. Ideally, the bank loan will be for 5-10 years at a small paymentlevel. 9www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  9. 9. Bank Lending Secrets Revealed! Learn the “Answers to the Test” so You Can Determine How Much Your Business May Qualify For? A couple of years ago, a local banker in Las Vegas approached me about my companyreferring clients to them to set up business bank accounts. As you know, we have set upthousands of new business owners over the years; although most are out of state, the ones locallyall need a local bank account. This was not unusual. In the past, many banks have wanted myclient list to open bank accounts for them. I was not interested in referring my clients to their bank to simply open a bank account. Ialready had a couple of banks that we have been working with for years. But I did have an idea.My idea to the banker was, why don’t you give my client’s the answer to the test on how your banklends money for business credit cards, business lines of credit and business loans and on thebackend they can set up their bank account with your company. In other words, you help meUNLOCK the BANK’S CODE for lending, give my clients the ANSWERS TO THE TEST, thenthey will open the bank accounts for you! The bank manager liked the idea and the next 4-6 months was the hard part. To actuallyhave the bank go through the steps to determine what their own criteria was to lend money forbusiness owners. Of course, they had an overview of the process to lend money to businessowners but when I started asking specific questions they did not know. For example, whenapplying for a business credit card (not a debit card) in the name of the LLC (or Corporation) whatis the minimum level your credit score has to be to open a business credit card and which creditagency do you check for that score? They did not have an answer. They were not used to thesespecific questions. At best, the input was more like…”well, it should be over 600 or so…(again thiswas a year ago before the entire massive credit crisis that hit in mid and late 2008). I would say, “is600 the minimum score to quality or is it higher? They would reply, around 600 is good. I said;please ask your underwriters, the minimum credit score to obtain a business credit cardand what would the dollar range be on the credit card. They of course were not used to thiseither. It goes to underwriting and they will give you the final results. Almost as if underwriter wassome type of underground group, private group that no one can speak to (only the banker wasable). Over the next 4-6 months I continued to demand specific answers and requirements and goingback and forth, back and forth. I even went through the process myself for a business credit card,business line of credit to test our results and criteria. Finally, after 6 months, the Banks Code hasbeen Cracked! 10www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  10. 10. What you read below is the different categories and levels in each category for the threemain areas:♦ A business credit card♦ A business line of credit♦ A business loan The question always was, what specifically are the criteria for each category? Keep inmind, that when working with cash credit (or bank lines of credit) typically you will almost always begiving a personal guarantee. You want to minimize personal guarantees when it comes to tradelines of credit (vendor credit) but it will almost always come into play with bank lines of credit. The benefit is that the business credit card that is under the EIN number of your corporationor LLC that debt, although personally guaranteed, will not show up in the name of your personalcredit report. That is very important! As, we have said many times, the big mistakes that newentrepreneurs make is to operate their business as a sole proprietorship and self finance thecompany with personal credit card debt.Bonus Secret # 7: Stop Using Your Personal CreditCards to Finance your Business! The big problem is that if you operate that way you will jack up your personal revolvingdebt and when it comes time to form an LLC or corporation for your business, and you apply for asimple business credit card (not debit) in the name of your new entity, 95% of the formula is yourpersonal credit score and your revolving debt! The number one reason that most business owners got rejected from even a simplebusiness credit card was their personal revolving debt was too high! That includes if you have aHELOC (home equity line of credit, which is like a big credit card on steroids).Bonus Secret # 8: What is the Bank’s Model forLending? When I went through that process to break down the banks lending model, this is what Idiscovered. The way I discovered this first part is, I went through the process to apply for a businessline of credit. My credit score would say one thing, the bank would come back and it was like 50points lower. I’m like, “What do you guys use for a model? What do you check? Do you checkExperian®?” “Yes, I do.” “That’s what I checked on Experian®. Why are you 50 points lower?” Finally, I discovered the banks has its own scoring model that you or I do not have accessto! It is called the Liquid Credit Score (banks of course may call it by a different name). 11www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  11. 11. Bonus Secret # 9: The Mystery of the Liquid CreditScore! Well, guess what? They use something called a liquid credit score. Basically, long storyshort, I got the banks to admit, “Well, we don’t really use the same score. We have our ownmodel.” I’m like, “Basically, you have your own model that just drops the score, my credit scoredoesn’t look as good, even though I pulled it yesterday. It’s going to be lower, based upon yourratio, and therefore that’s why you get to charge more interest. Is that the essence of it?” As you can imagine, they didn’t really have a good answer for that. We broke down the restof the formula.Bonus Secret # 10: How is Your FICO Score Involvedwith the Bank’s Liquid Credit Score? Is your FICO score involved in the liquid credit score? Yes, it’s half the equation. Whendetermining your business and the liquid credit score, what level does your FICO score need to be,from the bank’s point of view? Typically, about 6 months ago, for a business credit card, it was about 600. For a businessline of credit, it was about 680. Now, I would say the minimum should be around 680, 650 for abusiness credit card. And for a business line of credit, 720, up to 740. Will you find exceptions? Yes, you will. But these are typically what I recommend. Now, the big questions that I want you to do is if you do apply for this, or a credit card or abank line of credit or business loans, you always want to ask the institution – or a car loan, for thatmatter – which credit agency are they going to pull your credit from. It’s usually never a tri-merge, which a lot of people, that’s what they do. They get a tri-merge, which is an average, andyou don’t want that.Bonus Secret # 11: What Credit Agency(s) is Used toCheck Your Credit for a Business Credit Card, Business Lineof Credit or Business Loan? Find out if your bank or lender is use Experian®, Equifax or Transunion to pull the credit?I’ve found a lot of people don’t use Transunion, and Experian® is probably the most common. ButI know some people, for credit cards, some banks use Equifax. You may be surprised to find out that your credit score, between Experian® and Equifax,could be a 40-point differential. You may be wondering how the heck is that possible. 12www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  12. 12. Bonus Secret # 12: How is it Possible that Your CreditScore could be 40-50 Points Higher Between CreditAgencies? The algorithms that the credit scoring agencies use is the same algorithms. The distinctionis what data gets reported. Some banks might just report data to Experian®. They don’t put in thelabor to report to Equifax and Transunion. Well, guess what? If you apply for a credit card at the bank and they only report toExperian®, and that revolving debt shows up at Experian® but not at Equifax, that may be thereason your score is higher at Equifax and lower at Experian®. Now, if your bank uses Equifax, in my example that may be to your benefit. You’ve really got to know what you’re getting yourself into. And if they don’t know, just askthem to ask their underwriters to please find out and call you back.Bonus Secret # 13: Always Ask the Banker, “WhenYou Check my Personal Credit for a Credit Card, Line ofCredit or Loan, What Credit Agency do You Pull From?” But again, most people are never armed with this information, because banks and financialinstitutions just got away with being lazy, in my opinion, and saying, “Well, that goes to theunderwriters. We don’t really know the formula.” Again, you’re the consumer. I would make sure that you’re armed with the best information.If the bank doesn’t want to work with you, there’s lots of other banks – although, it’s getting lessand less all the time. But go work with somebody else. You want to take that into play. I will tell you that Corporate Experian® has become moreand more popular, even over Dun & Bradstreet, when it comes to business credit. There’s a couple of key areas that, even if your credit score is very good and your revolvingdebt is low, that could cause you to get automatically rejected, at least from a bank. You may have some opportunities, and we’ll talk about a merchant account cash advance.But if you have these derogatories, you really do have some challenges. Some are moresevere than others. 13www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  13. 13. Bonus Secret # 14: Derogatories Can Cause YourBusiness Request for a Business Credit Card, Line of Creditor Loan to be Rejected! Credit Counseling to the Rescue?? One derogatory is excessive late payments. Most banks say you can miss only one 60-day late payment, and any more you’ll automatically become rejected. They look at that very closely, which is very important when you get into some people thatare going to be looking at losing their home, there actually are better strategies to do it where youmay only have to have one late payment and you can go into bankruptcy, if that was the worst-case scenario. On this course, we do talk about that in great detail, how to take a look at it. Derrogatories are very important. With the late payments, one tip you want to be aware of,some people may have friends who go to credit counseling, they may call those 800 numbers inthe commercial, they sound like these wonderful, nice companies that will help consolidate yourdebt and your credit card debt. Keep in mind most of those are owned by the banks and the credit card companies, andthey’re designed for you to fail. They may negotiate with you to pay off some of your debt or doa lump sum settlement, but it’s going to severely hurt your credit score and they don’t evaluatethat. Obviously, if you have no way to get that paid and you’re not developing any money, itmight be a consideration. But we at least want you to understand the long-term ramifications,especially with credit counseling, 90% of the people fail. And only the 10% that make it throughthe program, they could have been paying it down for 5 years, consolidate some debt, they don’trealize, when it’s done, it turns out to a 30-day late payment every month. A late paymentshows up every month, in their credit report, that just destroys their credit score.Bonus Secret # 15: A Personal Bankruptcy is anAutomatic Rejection when Applying for Credit with Banks! The second common category of derogatories is bankruptcy. If somebody has a BK oris facing that, that’s not going to work well with the banks. You’re automatically going to getrejected, typically, from a bank. You may have some other options. You may want to look at somevendor credit, just to free up some cash flow. Other areas that are problems when it comes to derogatories is open liens or judgments. If you have an open lien or judgment, it will cause your application to be automaticallyrejected. That’s another reason somebody should never be a sole proprietorship and get ajudgment because their business was sued. You should always have a separate legal entity. 14www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  14. 14. How About Five More Extra Bonus Secrets!Extra Bonus Secret # 1: How Many Liens Can YouHave Personally Before You are Rejected by the Bank! Typically, you can have 2 or less liens in the previous 5 years, that have been releasedor paid off. If that’s the case, typically, most banks will work with you.Extra Bonus Secret # 2: Another Problem: Do Youhave Any Large Collection Items that Were Settled in thePast? A lot of people fall into this fourth category, which is not good, which is large, collectionitem settled. That’s the situation where you’re not able to pay off the creditor, but it was settled.This would cause you to get rejected. Why is that? Well, the banks say, “Well, you rang up thisdebt before, you weren’t responsible, you couldn’t pay it down, and more than likely because youhad to get it settled, we think that pattern may repeat.” A Reality Check! The bottom line is your business didn’t work or the marketing didn’t work, or you didn’t getthe right traffic, or the positioning on the product. And that’s really the reason. It’s not necessarilythat you were irresponsible. It’s mostly that, obviously, you didn’t generate enough profit. But,again, that’s how the bank looks at it. If you’re applying for a business line of credit, which typically now you have to do that prettymuch about a year into business – some banks are waiting 2 years. They used to do it about ayear ago, from even day one, Wells Fargo used to give you an application to apply for a businessline of credit. And now, you have to wait. In many cases, they won’t allow you to do that. Or atleast you won’t qualify. Sometimes, they still give you the form, but they don’t realize everybodygets rejected. Then they hit your credit score and it drops it about 7 to 15 points. You really wantto be able to ask these questions. But I would say you’re going to plan on waiting about a year for that, to get a business lineof credit. 15www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  15. 15. Extra Bonus Secret # 3: How Much Money will YourBusiness Qualify for with a Business Line of Credit? A lot of people are wondering, “How much money do I qualify for? What’s the formula?How does that work?” These things are important to know, as you’re growing your business, because once youmap out your goals with gross revenue, net profits, you have a personal budget in place, you’remore than likely to achieve things. And whether you believe in the law of attraction or just puttingyour outcome out there, the more specifically you map these things out the more likely you’regoing to be able to hit your numbers. To give you an idea when it comes to a business line of credit, typically the banks will lookat 15% of your annual gross revenues, if you’re in a low-risk category. Each bank has a list ofwhat that’s considered. In other words, let’s say you do $1-million a year in gross revenue. Well, 15% is a $150,000business line of credit.Extra Bonus Secret # 4: Is Your Business Line ofCredit Due in Full After One Year or Not? I will caution you, when you talk to the banks, if you do get a $150,000 business line ofcredit, and I’ve made this mistake before, I had one with B of A where I set up the business line ofcredit, I’ve had it for 7 or 8 years, I’ve never heard from B of A in 7 or 8 years about anything aboutit. Then, I set up one with another bank, about an $80,000 line of credit. I used $40,000 or$50,000, then the anniversary date came around and I get this letter that says, “Oh, it’s been thefirst year anniversary of your business line of credit. You have a $40,000 balance. We’d like youto pay that by Tuesday, please.” I called the bank and said, “What are you talking about, pay it by Tuesday? I thought thiswas a revolving line of credit that’s open and goes up and down, until I shut it down.” “Well,actually, it was an open line of credit with a one-year term.” “I don’t remember the one-yearterm part.” “Yeah, we kind of evaluate it after each year, so we’d like you to pay it down to zero.” Isaid, “Well, it would be nice to know that upfront.” As you can imagine, those things create problems. If you do get a business line of credit,make sure you find out if it’s open for one year or if it’s open continuously. Obviously, these things can create problems in your cash flow, as you can imagine. If you’re in a little higher risk category, you can get 10% of your annual gross sales. Thereare actually a couple categories where the banks aren’t going to give you any lines of credit, youwant to ask them about that. And, of course, if your business is in that category, maybe you needto start another business, break off a different division that’s not in that same category. 16www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  16. 16. Typically, the banks can look at your last 3 months of bank statements to determine whatyour consistent sales are, to make a projection if you’re in your first year of business, obviously. Ifyou’re in year 2, 3 or 4, they’ll look at your last 12 months of profit and loss and look at yournumbers to determine how much you’re likely to qualify. The banks typically like to see personally you have 3 trade lines open, means 3 creditcards and at least 2 years of recent activity. In other words, some people have a very high creditscore, but they’ve only had recent activity, and that’s a problem.Extra Bonus Secret # 5: Another Surprise that MayCause You More Frustration! I’ve had the fortune to talk to a couple of different underwriters. One was from Bank ofAmerica. You have to understand this is really a difficult task, because underwriters normally donot like to talk to the consumer because most people get rejected for a bank loan or business lineof credit, and usually it’s one thing and they met all the criteria except for one little thing. Andthey’re not rational about it and they don’t like to hear, “Well, everything looked great, but you sentin your tax return late one year. And since you sent it late, we’re going to reject you, so you don’tget your $150,000. But if you would have got it a month earlier, we would have sent your$150,000 to you.” But the underwriters don’t like to talk to you because they know that’s going to be alosing argument. You’re not going to want to listen, and get upset about it, which I don’t blamethem. That’s why it’s almost impossible to talk to these people. 17www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  17. 17. What are others saying about FAST BUSINESS CREDIT? "I recently interviewed Scott Letourneau on the Shared Vision Masters Teleseries and hewas outstanding. If you are an entrepreneur and want to know the secrets of business financing,then by all means connect with Scott. I have recommended him to my close associated and Irecommend him to you."Kenneth D. FosterCEO - Shared Vision NetworkAuthor - Ask and You Will Succeed"Dear Scott, Thank you for speaking at our organization. Your presentation was insightful, energetic, andengaging. I cant tell you how many times I was stunned by some of the information you gave. Myjaw literally dropped! your presentation, without any sales "pitchiness", is a call to action forbusiness owners who are serious about being successful in their business." "In your presentation our members received a college education in 45 minutes that will savethem thousands of dollars or maybe even millions of dollars in the future. One of our members whoheard you presentation told me afterward that she wished she knew this before she gave herbusiness to her children. It would have not only saved her over half a million dollars in legal fees,but it would have saved her family from the destructive lawsuits that tore them apart. Yourinformation is essential for anyone running a family business!""Thank you so much!"Gina Robinson-BillupsMoms in Business NetworkThe International Association of Working Mothers 18www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  18. 18. "Hi Scott!" "I wanted to thank you once again for under-promising and over-delivering with the greatteleseminar you did for our Internet Marketing students. They were particularly impressed with theinformation you gave them on ways of building and securing corporate credit, especially in theseprecarious times. As you know, I am a firm believer in being sure people are set up in theirbusiness entities from the beginning, before they open the doors, and I want to thank you fordriving that point home as well." "Again, you under-promised and over-delivered when you gave them the extra hour ofinstruction. I believe that showed your commitment to helping create excellent businesses andbusiness relationships from the beginning." "Thank you again for helping us jump-start the www.IMDTraining.com students." "To all our success!"Cyndi Parker CEOIMDTraining.comEasyPushButtonTraffic.com "Ive worked with thousands of business owners as a CPA and now as an Attorney helpingthem pay less in taxes and to properly protect their estate." "Unfortunately 80% of business owners fail in the first 3 years, due to a lack of cash flow. Ifthose 80% listened to Scotts CDs about how banks lend money and how to gain access to morecash, they would have been in a much better position to service! Unfortunately, no one teaches thebusiness owner the process on how banks lend money, except for Scott!" "His system is a must!"Joseph J. Dadich,CPA, Esq., L.L.M 19www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  19. 19. Take the Next Step to Secure Business Trade and Cash Lines of Credit for Your Company!! No doubt the previous pages have stimulated your thinking and made you aware of aspectsof your own company in new ways. As well you should be – the decision to build business credit isan important step for you to take, and one that will establish the basis for the security, prosperityand resilience of your company and your future. As such, we invite you to call us if you have any questions. Our consultations arefree, comprehensive, and essential to ensure that you have a firm grasp on all theadvantages available with your ultimate choice. We are a valuable resource for you in yourbusiness credit decisions, but of course, you are ultimately the one who will decide what path totake. We would be very happy to count you among our clients, but that decision is yours as well. We understand very clearly that when we take good care of you, you are likely to do morebusiness with us. Jay Abraham calls this the “life time value of a new client” and we take thatvery seriously! Plus we really appreciate your referrals! Ready to Begin Right Away? When you call, please tell our receptionist you’d like to get more information today. We takelots of calls and respond to each one individually, but place priority on those who need help rightaway. If you’re facing a contract deadline, or you’ve been presented with a time-sensitivebusiness opportunity, let me know so I can get to work with you quickly. On behalf of FAST BUSINESS CREDIT, I look forward to having the opportunity to workwith you. Our mission is not just to help you get access to the cash and capital to grow yourbusiness and be in the Top 5% that are not only in business after five years but also profitable! Take just a moment to call us now at 1-888-313-6333!! 20www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!
  20. 20. Become an Affiliate Partner with FAST BUSINESS CREDIT: FAST BUSINESS CREDIT gets offers every week from companies that want to affiliate withus to help their clients get off to a fast start. Unfortunately, we don’t align with just anyone --- yourcompany must be the right fit for us. Please understand that not everyone is accepted to this vibrant, valuable program. FASTBUSINESS CREDIT ’s focus and concern is that each and every client receives top-notch,accurate, ethical assistance to help them succeed. Follow through is essential to preserve ourreputation, which is as important to us as yours is to you. Therefore, we’re looking for top-notchpartners to join us in expanding the scope and reach of our services. Here is a list of how we may help your clients. Could Your Clients Benefit From:  Webinars  Teleseminars  Speaking at Live Events  Affiliate Program  Information Products  Free Guide as a Bonus to Your Products and Services If you think you may be interested --- or that your own clients would thank you for a greatnew partnering opportunity --- contact , FAST BUSINESS CREDIT, at 1-888-313-6333 for anappointment to apply as an FAST BUSINESS CREDIT Affiliate/Alliance Partner.Revised 1-4-10 21www.FastBusinessCredit.com. Call within 72 hours of downloading this free guide at 1-888-313-6333 and receive a BonusGUIDE, a 30 minute free consultation, a $200 value plus a special one time offer after you call!

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