|IVANHOE CAPITAL ADVISORS UNSECURED BUSINESS LINES OF CREDIT PROGRAM|
BUILDING BUSINESS CREDIT
|Do you have clients that have been in business for years and don’t even realize that business credit even exists? What is business credit and how can you help your client establish their business credit? Clients may be wondering why, after being in business for a long time, should they being building their business credit now?
Here are a few questions your clients should ask themselves:
There’s an unfortunate lack of useful information available on how to finance your business, especially when it comes to building business credit that will allow you to finance, operate and expand … without putting your personal finances, or your family’s very future, in jeopardy.
When you apply for credit for a business, most creditors will pull your business credit report. This credit might have been used for anything in your business … from credit cards … to loans … to equipment.
And what happens if they pull your business credit report and there’s nothing there? They’ll rely on your personal credit to guarantee
your request. If there’s no business credit file, they’re not able to lend as much credit to your business. One of the main reasons you need a business credit report is the ability to receive more funding.
Here’s another reason that you need to build business credit: to
save money! This is the most important reason. By building business credit you can save yourself and your business money.
Building a strong business credit rating is vitally important to your success. Without it, you’ll pay much more (in higher interest rates) for the money you borrow … if you can borrow at all. In fact, banks – which say they want to help small business owners – actually turn down over 97% of all business loan applications. They don’t make it easy!
Wells Fargo claims, “The longer you delay establishing business credit, the longer you delay taking advantage of business loans.”
How does this work? Here’s an example:
Let’s suppose that you need $100,000 for your business. What we’ll do is establish and match your company with multiple accounts with 5-6 different lenders. Once your approved for $100k and make your payments on time these accounts will report to your business credit profile. That will help establish and build your corporate credit and receive the best offers in the near future!
UNSECURED BUSINESS LINES OF CREDIT PROGRAM
Unsecured Business Lines of Credit Recent Closings