Small Business Credit Secrets Revealed

If you’ve been trying to borrow money to grow or start-up a new business and have been met with rejection due to poor personal credit you’re in the right place. Building business credit is our Expertise. Get a free guide to help start the business credit building process to put you on the fast track to getting the small business credit you need without using a personal guarantee. Read on for more information…

Get Small Business Credit Cards for Your Company

Tens of Thousands of Companies have done over the past decade and are obtaining the following right now…Without any Personal Guarantee!

• Business Credit Cards
• Vendor lines of Credit
• Computer Leases
• Vehicle Leases (No Social!)
• Business Equipment and Supplies
  Store Cards (Home Depot, Nordstrom’s, Etc…)
  Lower Interest
  Company SBA & Bank Loans
  Commercial & Private Property
  Business Lines of Credit up to $150K CASH

When to Establish Business Credit

Whether you decide to figure it out on your own or you employ our business credit services the time is NOW! Since it takes 3 – 6 months in order to obtain a significant amount of cash credit it is important to start building corporate credit before your company needs it. No institution wants to lend money to a business in need of cash flow to operate and it’s important to spread out the applications over time to make sure the lenders don’t seem like your company is desperate for money.

How Is This Possible?

Over the years we’ve learned that business owners want to know exactly what’s going on before they will consider using our services, which is why we are going to give you a detailed guide to building business credit with no personal guarantee.

Best of all, it’s FREE! Simply provide your email above and instantly download a copy of our guide. You’ll also be given the opportunity to have a free consultation with one of our business credit coaches to decide whether or not our professional business credit services program is the right thing for your business.

Home-Equity Line of Credit
This line of credit acts as a loan and is similar to home-equity loans in that the consumer is borrowing against his or her home’s equity. However, unlike traditional home-equity loans, these lines of credit are revolving, meaning that the consumer may borrow a lump sum, repay a portion of the loan, and then borrow again. It’s kind of like a credit card that has a credit limit based on your home’s equity! These loans may be tax deductible and are typically repayable over a period of 10 to 20 years, making them attractive for larger projects.

Because specific amounts may be borrowed at different points in time, the interest rate charged is typically pegged to some underlying index such as the “prime rate”. This is both good and bad in the sense that at some times, the interest rates being charged may be quite low. However, during period of rising rates, the interest charges on outstanding balances can be quite high.

There are other downsides as well. Because the amount that can be borrowed can be quite large (typically up to $500,000 depending upon a home’s equity), consumers tend to get in over their heads. These consumers are often lured in by low interest rates, but when rates begin to rise, those interest charges begin racking up and the attractiveness of these loans starts to wane.

Cash Advances
Cash advances are typically offered by credit-card companies as short-term loans. Other entities, such as tax-preparation organizations, may offer advances against an expected IRS tax refund or against future income earned by the consumer.

While cash advances may be easy to obtain, there are many downsides to this type of loan. For example:

* They are not typically tax deductible.
* Loan amounts are typically in the hundreds of dollars, making them impractical for many purchases, particularly large ones.
* The effective interest rate charges and related fees can be very high.

In short, cash advances are a fast alternative for obtaining money (funds are typically available on the spot), but because of the numerous pitfalls, they should be considered only as a last resort

There are definitely pitfalls, however. The interest rates that most credit-card companies charge range as high as 20% per year. In addition, a consumer is more likely to rack up debt using a credit card (as opposed to other loans) because they are widely accepted as currency and because it’s psychologically easier to hand someone a credit card than to fork over the same amount of cash. (To read more on this type of loan.

Home-Equity Loans
Homeowners may borrow against the equity they’ve built up in their house using a home-equity loan. In other words, the homeowner is taking a loan out against the value of his or her home. A good method of determining the amount of home equity available for a loan would be to take the difference between the home’s market value and the amount still owing on the mortgage.

The loan proceeds may be used for any number of reasons, but are typically used to build home additions, or for debt consolidation. The interest rates on home-equity loans are very reasonable as well. In addition, the terms of these loans typically range from 15 to 20 years, making them particularly attractive for those looking to borrow large amounts of money. But, perhaps the most attractive feature of the home-equity loan is that the interest is usually tax deductible.

The downside is that the interest rates on these loans can be quite high. According to the Federal Reserve, they range from about 10-12%. The other negative is that these loans sometimes must be repaid within two years, making it impractical for individuals looking to finance large projects.

In short, personal loans (in spite of their high interest rates) are probably the best way to go for individuals looking to borrow relatively small amounts of money, and who are able to repay the loan within a couple of years. When consumers use credit cards, they are essentially taking out a loan with the understanding that it will be repaid at some later date. Credit cards are a particularly attractive source of funds for individuals (and companies) because they are accepted by many – if not most – merchants as a form of payment.

In addition, to obtain a card (and, by extension, $5,000 or $10,000 worth of credit), all that’s required is a one-page application. The credit review process is also rather quick. Written applications are typically approved (or denied) within a week or two. Online / telephone applications are often reviewed within minutes. Also in terms of their use, credit cards are extremely flexible. The money can be used for virtually anything these days from paying college tuition to buying a drink at the local watering hole.