Building Business Credit triples the success of your business!

I recently received a call from a casual friend of mine inquiring into services my company offers for acquiring lines of credit for a business. So, I ask the caller how they have been in business and the response was, "well not very long". I shared with the caller that the likely hood that they could acquire business lines of credit when having been in business less than 2 years is practically impossible! The person gasped and than said, my personal credit score isn't very high and shared that their score was less than 600 FICO. I hated to crush their bubble, but I had to give it to this person straight so that an immediate decision could be made by this person. What I shared with person is very important! There is alot of hype in the marketplace about what it really takes to establish business credit lines. So here is the deal:

1) You must be in business for at a minimum of two years! Meaning licensed and incorporated, at least an LLC.

2) Have a business Checking account in your business name and address with a phone number that is listed in the 411 directory.

3) Have a copy of the rental agreement where you are located for your business. Many banks will ask for this, it creates credibility for you and your business.

4) Be prepared to potentially have to co-sign for your initial line of credit, in many instances banks may want your personal credit as a guarantee before an account will be opened.

5) Request a DUNS number from Dun and Bradstreet. You may need it, you may not.
It's free and can be requested online on the Dun and Bradstreet website. Most likely the bank that grants your company a credit line will report your relationship with the bank to D & B. It's very important that timely payments are made so that positive credit reporting is maintained.

Building business credit will help the success of any business very early. Self funding a business venture is noble, but very costly! I have personally done it and have been successful, but costs can get away from you when gearing up.

Because of the questions my office has received regarding acquiring business credit, we went to work to provide some critical services for our clients whom were contacting us to not only boost their personal score, but learn how to position themselves to acquire large lines of business credit.

We introduced the Start-up Corporation for individuals whom wanted the maximum in high end products and credit lines to create an instant corporation to gear up fast!

Get GR8T Credit's Start-up Corporation package is an amazing package that creates the corporation entity for you within 30 days with up to $200,000 in lines of credit! Qualifications are FICO of 720 or better, 3-5 personal lines of credit with personal debt percentage 40% of less, priced at $12,000! You just can't beat it!

Want more information, give us call!