You don’t have to restore or repair your personal credit to establish business credit, but it definitely makes things easier. When you build corporate lines of credit with poor personal credit, you get poor quality credit lines, like we’ll discuss below. When you apply for corporate credit, especially in the first two years, lenders will…
Month: March 2019
Reasons to Establish Business Credit!
When business owners use personal credit card to pay for business expenses, the debt of the business reports back to their personal credit reports which lowers their scores because their business debts hurt their personal debt to income ratio To help prevent business owners from damaging their personal credit, every business owner should follow the…
“Business Credit Lines” Can’t Be Found Due to Poor Credit Scores
There are several specific steps to building your “business” credit so that you can become creditworthy enough to apply to lending and financial institutions. You points you need to understand are: the differences between personal credit and business credit; the importance of choosing a business name and registering it with the State; the best legal…
Your Credit Score And The Importance It Holds To Your Financial Security
Have you been “eyeing” a fancy new car, or how about a brand new house? Have you come to the conclusion that it is time to get it? Well, if you have, reach into your bank account grab a few thousand dollars and put a down payment on that house or car. You don’t have…
Your Credit Score and Its Importance
Checking Credit Most people understand the importance of checking their credit, but some may not completely understand why. It is important for individuals to keep an eye on their credit score so they will not be hit with any surprises once it is time to purchase something that requires a good credit report. One of…
Business Credit Score and Its Importance
All businesses -both large and small – all rely on good credit standing for a favorable stand with prospective lenders. By having an excellent business score, a business owner can be confident that he can obtain the financial assistance he needs at any time without difficulty. But building a credit history for your company is…
What is The Path to Corporate Loans with out Personal Guarantees?
All this talk about corporate loans, but what is truly involved in obtaining a true corporate loan that does not require a personal guarantee? It was common for banks to lend money to businesses using their personal credit in the past 10 years. The bank simply added a business name making the customer believe that…