Only 3 months for $150k plus in business credit! How long does it take to do that with Personal Credit?
So, picture this: You could snag a hefty $50k to $500k in business credit without breaking a sweat or waiting for eons – way easier than the slow crawl of building up your personal credit over several years.
We're talking a doable 3-month hustle here, focusing on that EIN-based business credit magic. Just hop on the train of simple steps like hooking up with Dun & Bradstreet, grabbing an EIN, and working that vendor credit angle.
No need for the long, winding road of personal credit building. In three short months, you could be looking at a sweet $150k or more in business credit, making it a speedy and savvy move for entrepreneurs itching for some quick financial muscle.
Business Credit vs. Personal Credit;
Basis for Approval:
Business Credit: Approval for business credit is primarily the businesses ability to pay its bills on-time. It considers factors like business revenue, payment history, and business credit scores.
Personal Credit: Approval for personal credit relies on an individual's credit history, income, debt-to-income ratio, credit usage, inquires, collections, and personal credit scores.
If you’re looking for a way to fund your business, project, or production without relying on banks, investors, or personal credit, then you might want to consider building business credit.
Building business credit can be a strategic move for entrepreneurs looking to secure funding for their business endeavors without relying on traditional sources such as banks, investors, or personal credit. In this detailed explanation, we'll explore the significance of business credit, the process involved, and the potential financial benefits.
1. Understanding Business Credit:
Business credit is a financial tool that is associated with your business entity rather than your personal identity.
Unlike personal credit, which relies on an individual's creditworthiness, business credit is based on the financial performance and credibility of the business itself. This separation is crucial because it allows businesses to establish their own credit history and financial identity independent of the owner's personal credit.
2. Advantages of Business Credit:
Funding Independence: One of the primary advantages of business credit is the ability to access funding independently of personal credit. This can be particularly beneficial for business owners who want to protect their personal assets or maintain financial independence.
Performance-Based Financing: Business credit allows you to secure financing based on the performance and creditworthiness of your business. Successful operations, timely payments, and a positive financial track record can contribute to building a strong business credit profile.
Maximize Business Funding Potential with EIN-Based Credit: Access 10 to 100 times more funding for your business by leveraging business credit tied to your Employer Identification Number (EIN). After successfully creating a business credit profile through Dun & Bradstreet, acquiring a D-U-N-S number, and achieving a positive PAYDEX credit score, (80 to 100) obtaining business funding not only becomes more streamlined but also opens the door to accessing funding amounts that are 10 to 100 times greater than what would be available without a robust business credit profile and score.
3. Process of Building Business Credit:
1. Establishing a Business Entity: To start building business credit, it's essential to establish a separate legal entity for your business, such as an LLC or corporation. This separation ensures that your business has its own identity distinct from your personal finances.
2. Obtaining an EIN (Employer Identification Number): An EIN is a unique identifier assigned to your business by the IRS. It is crucial for building business credit as it serves as the business's social security number. This step is fundamental in distinguishing your business from your personal financial activities.
3. Opening Business Accounts: Open dedicated business bank accounts and apply for business credit cards. Use these accounts responsibly, making timely payments and maintaining a positive balance.
4. Register with Dun & Bradstreet & Apply for a D-U-N-S Number: Initiate the process by registering your business with Dun & Bradstreet. Obtain a D-U-N-S number, a unique identifier crucial for building your business credit profile.
5. Apply for Vendor Credit that Reports to Dun & Bradstreet: Seek vendors who report credit transactions to Dun & Bradstreet. Apply for vendor credit to establish a positive credit history linked to your business.
6. Use Your Vendor Credit: Actively utilize the vendor credit you've acquired for business-related transactions. This demonstrates your business's ability to responsibly manage credit.
7. Pay Bills on Time: Ensure timely payments for all credit accounts, including vendor credit. Timely payments contribute positively to your business credit score.
8. Apply for Store Credit and Pay Bills on Time: Explore store credit options for additional credit diversity. Maintain a record of timely payments to bolster your credit profile.
9. Apply for Fleet Credit and Pay Bills on Time: Consider obtaining fleet credit for specific business needs. Consistent, on-time payments further enhance your business creditworthiness.
10. Apply for Cash Credit and Pay Bills on Time: Seek cash credit options to expand your business credit portfolio. Adhering to timely payments reinforces your credit reliability.
11. Keep Depositing into Your Business Bank Account: Consistently deposit funds into your business bank account. This demonstrates financial stability and positively influences credit assessments.
These steps collectively contribute to the establishment and strengthening of your business credit profile, enabling you to access greater funding opportunities.
4. The 3-Month Commitment:
Time Investment: Building a solid business credit profile is not an overnight process. It requires consistent financial activity over time. The mentioned 3-month commitment suggests a focused effort to establish and strengthen your business credit during this period.
Its 3-Months but Only 15 Minutes per Month: While there is a time commitment involved, it primarily revolves around the duration vendors take to report your punctual payments to business credit agencies. Essentially, the process entails using your newly acquired business credit, ensuring early or on-time payments each month, and then exercising patience. So, the real question is how much time do you need to allocate each month for this straightforward and potentially lucrative activity?
3 Month Financial Rewards: The potential financial rewards, ranging from $50k to $150k or greater, indicate the amount of business credit you could potentially access once you've successfully built a robust credit history.
5. Funding Opportunities with Business Credit:
Flexible Borrowing Limits: Unlike personal credit, business credit often comes with more flexible borrowing limits. This means that as your business credit profile strengthens, you may qualify for higher credit limits, providing greater financial flexibility.
Diverse Funding Options: With a solid business credit history, you can explore various funding options, including business loans, lines of credit, and vendor credit. This diversity allows you to choose the financing method that best suits your business needs.
That all sounds great, but really all of this is new to me.
I know that I will need assistance along the way.
That’s where we come in. We are Business Credit Consulting, a company that specializes in helping entrepreneurs, freelancers, and investors get access to business credit and loans quickly and easily.
We have a proven system that can help you establish over $250,000 in business credit within the first 6 months. Our system is based on a comprehensive online platform and a dedicated team of advisors who will guide you through every step of the process.
Here’s what you can expect from our service:
- You’ll get access to hundreds of lenders and credit sources that offer business credit and loans with no personal guarantee or credit check.
- You’ll learn how to set up your business entity, obtain your EIN, and register with the business credit bureaus.
- You’ll learn how to build your business credit profile and score by obtaining vendor accounts, trade lines, and revolving credit.
- You’ll learn how to leverage your business credit to get approved for high-limit credit cards, lines of credit, and loans from major banks and financial institutions.
- You’ll learn how to use your business credit to grow your business, invest in real estate, or fund your creative projects.Our service is suitable for anyone who wants to start or grow a business, regardless of their industry, experience, or personal credit situation. Whether you’re a freelancer, a small business owner, a real estate investor, an artist, a performer, or an entertainer, we can help you achieve your financial goals.
Conclusion
The commitment of 3 months to build EIN-based business credit is a pivotal investment in your business's financial future.
Establishing a robust credit profile through strategic steps, such as registering with Dun & Bradstreet, obtaining an EIN, and responsibly using credit, opens avenues for substantial funding.
The process, while requiring a time commitment, is manageable, needing just 15 minutes per month. The potential financial rewards, ranging from $50k to $150k or more, underscore the significance of this endeavor.
For those new to the concept, Business Credit Consulting offers expert guidance, a proven system, and access to over $250,000 in business credit within the first 6 months.
The service empowers entrepreneurs to navigate the intricacies of business credit, offering access to lenders, guidance on credit setup, and strategies for leveraging credit effectively.
Regardless of industry or personal credit situation, this service provides a comprehensive solution for business growth and financial success. In conclusion, don't let funding limitations hinder your dreams—sign up for Business Credit Consulting to unlock your business potential.
Don’t let lack of funding stop you from pursuing your dreams. Sign up for Business Credit Consulting today and get ready to unlock your business potential.
