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Bad Credit Loans - You Do Have Options
If you are one of the millions of people walking around today
with a bad credit rating, you may well be wondering how you'll
ever be able to get a loan again in the future. Well wonder no
longer. If you need a loan and have bad credit, the...
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Most consumers are aware of the importance of their credit report. This document, offered to consumers and lenders by the three major credit bureaus, offers a fairly complete list of financial transactions and debts incurred by a consumer. Lenders...
Credit repair scam - How to avoid being a statistic?
Credit repair scam - How to avoid being a statistic? A good credit history is critically important for the consumer. A bad credit will prevent you from getting a business loan, owning a home, or even a job. Promises to "fix" your credit are always...
Home Equity Loan Line of Credit Vs. Other Conventional Loans
When it comes to getting money, you have two basic options. If you are a homeowner you can choose to take out a home equity line or credit (HELOC), or you can take out a conventional loan. Both of these products will provide you with the funds...
The Right Way To Credit Repair
The Right Way To Credit Repair by Dan Farrell If you have a bad credit rating, then you might find that your ability to get financing, loans, and even some jobs is greatly diminished. Once you have a bad credit rating, it might seem like there's...
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How to Build Business Credit Despite Your Personal Credit
Business credit is more of a science than an art. The first rule for this science is that it is not the same as personal credit.
Many would-be and aspiring business owners are not aware that establishing credit for a business is just as important as establishing personal credit. They also do not realize that a business can have a credit score separate from their personal credit score.
There is a world out there designed specifically for the business entity with a whole set of different rules.
Many entrepreneurs start out accumulating excessive personal debt to finance a business. Within a few months or even years, they find that the business is a monster and needs more food, also known as financing.
With credit cards maxxed to the limit, business owners find themselves in a crunch and searching for ways to raise capital. This is difficult to do when the time is not taken to establish business credit first. Business credit is a crucial first step and foundation to build upon.
First, a business is not real. It really doesn't exist until legal steps and processes are completed to say that it does exist. PEOPLE create businesses that have not been tested, employed or ever earned a paycheck. So, when you start a business and begin looking for financing, the bank WILL ALWAYS look at your credit because they can touch you (and your job, and your car, and your house...). You have a history. Your business does not.
They will pull YOUR credit report. Not the business. And do you know why? Because you have not
established a business credit profile separate from your personal credit profile.
Can this be done? How does a business establish a credit profile separate from your personal credit profile?
There is a credit system that will help you:
1. Lease vehicles like Lexus or Lamborghini, with added tax benefits.
2. Get a business line of credit or Small Business Loan or Business Credit Card for expanded Advertising, Inventory and other expansions your competitors can't get.
3. Invest in large projects like Commercial Property or Land or Construction that your personal credit isn't enough to guarantee.
4. Protect your personal assets from that of the business by not having to sign, no personal guarantee.
5. Start over with a new credit file if you need to, instead of just being stuck with your personal credit report
Start new businesses you always wanted to start with Business Loans.
6. Separate your personal credit from your new shiny business credit profile
7. Get a new credit report for every business you start. Establish business credit that's good even if you have poor personal credit (it's true!)
Anyone who wants to establish a REAL BUSINESS, with CREDIBILITY that's bankable ought to establish business credit.
About the Author
Karen L. Hardy, MSBA is a certified Business Finance Consultant, real estate investor and motivational speaker. To establish credit for your business, go to
http://www.destinycapitalfunding.com/business_credit_builder_program.htm
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