Establishing new business credit is one of the main hurdles faced by start-up companies. Your enterprise needs new business credit, but you need credit to get credit, but you do not have credit. However, there are time-tested ways of acquiring credit and BusinessFinanceCoach.com can teach you how to get it.
Bank loans are not the only way to get new business credit. They are also the most difficult to acquire. Lenders want to see three business credit cards and five open vendor credit accounts in excellent standing before they will extend new credit. This is part of the 20-step compliance process.
BusinessFinanceCoach.com will guide you through the steps required to open the types of credit accounts that build your business’ credit performance
New business credit starts with qualifying for business credit cards. BusinessFinanceCoach.com recommends those cards that report to the three business credit reporting agencies—Dun & Bradstreet, Equifax, and Experian. Strange as it may seem, only a small percentage of business credit card companies do so. Accounts opened with the non-reporting companies do not advance your ability to acquire new business credit. BusinessFinanceCoach.com can guide you toward the right companies.
Vendors like to extend new business credit where appropriate. BusinessFinanceCoach.com recommends opening vendor credit lines with those vendors who report to the three agencies. Unfortunately, most do not. We can help you find those who report, and building credit record.
BusinessFinanceCoach.com walks you through the entire process and acquires a corporate credit profile for your business to establish a firm foundation
BusinessFinanceCoach.com was a new business in 1995. In the past 15 years, our company has helped a large number of start-ups gain new business credit. This new business credit enabled them to expand their business base and become stable and successful.
BusinessFinanceCoach.com an help navigate through the complexities of lenders’ compliance requirements. Going through this maze of paperwork and qualification is daunting to even the most experienced business professional. If you are a first-time entrepreneur, it is just mind-boggling. One misstep could delay your bank loan application. You would have to wait months before you had another opportunity to acquire new business credit from a bank.
Back to Start-up Business Credit