Credit Building Benefits of Net Accounts

Net Benefits

Net Accounts are a great way for your business to get necessary supplies and inventory while managing monthly cash flow. However, many small business owners and entrepreneurs aren’t aware of how beneficial Net Accounts are for building a strong business credit profile.

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What a Trump Administration Might Mean for Small Business

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Understanding the Importance of Business Credit

A Valuable Asset for Your Business

Here’s what thousands of small business owners are learning about business credit:

Business credit isn’t just the latest buzzword in financing; it’s actually one of the most valuable assets for business owners. Regardless of the age or size of your business, establishing and managing a separate business credit file is vitally important for the long term success of your company.

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Owner’s Corner: I have a 700+ score and I have been in business a few years – why can’t I obtain $150K or more in a line of credit or a business loan for my company?

• I have a 700+ score and I have been in business a few years – why can’t I obtain $150K or more in a line of credit or a business loan for my company?

Solution: Here is my advice and the precise steps you need will need to do. This is based on getting the money when it was declined previously or could not be obtained at the best rates and amounts.

1. Check all of your compliance issues. How does the loan processor or underwriter for the good loans make sure you are a real business? From the next step…
2. PULL YOUR BUSINESS CREDIT REPORTS, start with Experian at http://www.smartbusinessreports.com/ then pull your DNB and Equifax reports.
3. Is the addresses correct? Does it state that you have been in business more than 2 years? Does it have your revenue, employees, ARE YOU LISTED AS THE PRINCIPAL?, is it a LOW RISK SIC code? And ABOVE ALL is it clean from any issues and slow pays or liens whatsoever? (more…)

Owner’s Corner: Business Owners Only. Let me know if I can help?

Hello Entrepreneur,

I was given your information as you were looking online for a business loan and may have had a hard time achieving financing. The reason for declines for small business’ like us, secondary only to personal credit challenges, are lack of credit in the business name. To introduce myself I have been helping business owners like you and I for 12 year and started out in 2000 with no personal credit, and a failed business due to a lack of credit. To read my story it is on our FAQ’s here. We have helped over 18k clients achieve their dreams, not all have succeeded because all we deal with is how to achieve funding, it is up to you to use credit wisely. Those that have: they have joined me on a tough journey that has lead to flawless business and personal credit and the ability to be approved for any loan amount or product that our revenue and repayment ability can support. Rest assured you can do the same. Be realistic and send me your inquiry and if you’re asking for $2 million dollars and don’t even have a personal credit card then I hate to be blunt, but even owning a business is probably not for you. Owning a business is for those whom are realistic and intelligent. If however you are a realistic and intelligent entrepreneur, with challenges, I can assure you that no one can help you like I can.

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Owner’s Corner: How do you turn $1,799 into $1,635,000 in one year?

I wanted to share a story with you about a recent client of ours. He is a pool contractor in Florida that had been in business for about three years. His business had been slowly growing but not at the pace that he wanted it to. He had a relatively good stream of business but it was mostly residential where the average job size was $15k to $20k. What he really wanted to do was crack into the large commercial market building pools for hotels and resorts. He knew he had the expertise but he lacked the capital to take on larger projects. Like most contractors he has to pay his material and labor costs while he is waiting to be paid. He could handle this on the smaller residential jobs but there was no way he could do it on a large commercial job. And like most entrepreneurs, his personal credit had suffered so that would be no help. Besides, he wanted to keep his personal finances and business finances separate.

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Owner’s Corner: 6 new 2013 Ford Transit Connects with a personal FICO score of 507???

With the great success of my previous BLOG POST regarding the pool contractor our client (7 new TrueBuild Elite clients within 48 hours) I thought I would share another success story.  Perhaps you can relate and see how his story may help your business.

This is a florist in the Atlanta area.  He had been in business for about four years.  It was a modest beginning with a 500sf store and one used delivery van.  Like a lot of entrepreneurs he was putting in 70 hour weeks and just getting by.  But his hard work over time had started to pay off and in a couple of years and he expanded to a 1,500sf store and added two more delivery vans.  Then, a year later he expanded to a 2,700sf store and added another delivery van.  He was now servicing the entire Atlanta metro area.  The profit margins in the retail florist are not the biggest and there is lots of competition so keeping costs down is the key to sustaining growth.  As he grew, he started experiencing growing pains.  The four delivery vans he owned were purchased used.  All had V8’s, got terrible mileage and were starting to break down frequently.  He was paying for fuel with the businesses debit card and was running $2,000 a month in repairs just to keep his vans on the road.  All of his cash flow and profits were getting eaten up but fuel costs and repairs so he had a problem on his hands.

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Owner’s Corner: Can I Get a Non-Personally Guaranteed Visa, MasterCard, or AMEX?

Hello Entrepreneur,

I just wanted to drop a quick note to our prospective client base about the HUGE differences between the old programs and platforms I wrote many years ago now (before the economy changed) and our TrueBuild program. You may doubt that I, personally, did indeed write the programs you have heard about or even signed up for, but you may call at any time so that we can provide proof. This includes just about all the scam type companies and 80% of the searches you will do on Google including any forums. These companies revolve around (I am SPECIFICALLY speaking to pure non personally guaranteed business credit) getting a Paydex score and telling you that you will be able to get non-personally guaranteed Visa/ MasterCard’s. I hope you find the time to read this, and my motivation is to provide clarity stemming from a few clients whom have come across my desk that are possibly hopeless for me to fix at this point.

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Owners Corner: Loan Brokers – Spaghetti on the wall?

One of the primary questions and a “catch phrase” of scammer loan brokers is ironic… Why pay up front fees for a business loan? 

Well they are right you would be CRAZY to right? Business loan brokers “sell” how they can get anyone financed, the best rates in the world, and on and on right? Well did you know that 99% of all business loan requests are declined and don’t make it through the first phase?  So how can these loan brokers say such things?  Why would they tout this “just give me your social and I will get you financed?”  Well the 1% is VERY lucrative!  Besides what small business owners DON’T know is that there are no commissions for the good loans!

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Learn the Secrets to Getting Money for Your Business, Even with Bad Credit.

Get Money for Your Business

Running your business takes vision, dedication, and hard work. And it also takes money. In fact, nearly half of all small businesses applied for financing in the past year. Whether you need to manage cash flow, update equipment, or take advantage of a growth opportunity, you need access to capital to ensure your business can thrive.

So how do you get it? What if you have bad personal credit?

We have good news; even if you’ve been turned down in the past or you have bad personal credit you can get access to the money you need to run your business.

Keep reading to learn the secrets of how small business owners are getting the money they need to optimize their business. Ready to get started? Click here now!

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