Just Starting a Business... Then the Business Finance Coach is perfect for you. It's critical for newer businesses to have access to credit and capital, but you need to know how to do that the right way. The Coach you will be able to start out on the right foot and give your new business every financial advantage. Simply enroll to get started.
Have an Existing Business... Even if you've been in business for 10 years you may not have created strong business credit scores and most likely your business is not in lender compliance. Whether you have or not, the Business Finance Coach will show you the current status of your business credit profiles, check your lender compliance, and then quickly walk you through the next steps to either establish, optimize or fix them.
Buying a Business or Franchise... If you are buying a business you should first form a new entity for the purchase. Our legal formations partner can help! Then you'll want the new business to have strong business credit scores so that once your sale closes, you are ready to jump right in.
For lenders to approve your business there are 20 compliance items that must be completed first.
Your business has to have completed all 20 compliance items before lenders can approve your business financing request. The Coach will check those items and then help you to make sure that each one is completed. Click here to see a small sample of business lenders' funding compliance checklist.
Lenders need for your business to have open business credit files and good business credit scores with all the national business credit reporting agencies.
Your business must have a file open with all the national business credit agencies; Experian Smart Business Reports, Equifax Small Business Financial Exchange, Dun & Bradstreet, and LexisNexis. The Coach helps you to set-up them fast and gives you the tools to optimize your scores.
Your business must have 5 vendor lines of credit that report your business credit history to the national business credit agencies and do not report on you personally.
There are over 500,000 vendors extending credit, but only 6,000 that report to the business credit agencies. The Coach will help your business obtain thousands of dollars in vendor credit lines, that do not report on your personal credit.
Your business must have at least 3 business credit cards that also report to the business credit agencies and not on your personal credit reports.
There are over 500 business credit cards, but less than 50 that will issue a business credit card without reporting it on your personal credit too. The Coach will help you to get approved for thousands of dollars in business credit cards that do not appear on personal credit reports.
Building strong business credit scores is the key to accessing much more business financing which is not tied directly to your personal credit.
The Coach shows you how to get approved for your first business bank loan. A reporting bank loan puts your business "on the map" as far as every other business lender is concerned. Then much more business financing and lending starts to become available to your business, such as: vehicle financing, equipment leases, and unsecured business loans and larger lines of credit.
For More Information Call 800-215-9411