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Re: Business Credit (1 viewing) (1) Guests
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TOPIC: Re: Business Credit
#5352
Joseph ()
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Business Credit 4 Years, 8 Months ago Karma: 0  
Bad credit can be a huge problem in real estate. Struggling with personal credit issues can take years to fix. One thing that I can suggest you do is start building business credit. This is completely separate from your personal credit. Building business credit does take some time and does cost. You can establish it on your own or hire other companies to help you accomplish your goals.

A great checklist can be found at http://www.mynewcompany.com/credit.htm .
http://www.allbusiness.com/business-finance/business-loans-business-credit/11194-1.html
http://www.corporatecreditconcepts.com/9mistakes_biz.pdf
Some other systems that you can look into are
http://www.corporatecredit.biz/
http://smallbusiness.dnb.com/manage-business-credit/credit-builder-details.asp?cmeid=IOS200482&cm_re=manage%2Dbusiness%2Dcredit%2FEstablish%2DBusiness%2DCredit%2Easp*TOP%5FRIGHT*CreditBuilder&bhcd2=1190127113
http://www.b2bcredit.com/

Be careful there are people out there to scam you. Bad Personal Credit tendencies may lead to bad Business credit tendencies.
A good rule of thumb is to never use more than half of your credit limit on your credit cards. If you find yourself in a troubling situation during a tough business month you can juggle balances around on other cards until you can bring in revenue to pay them again. This can help to avoid negative credit remarks on your business credit profile.

Hope this helps!
-Joseph H. Hernandez
jhernandez@intriguerealestate.com
 
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#5353
joy ()
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Re: Business Credit 4 Years, 7 Months ago Karma: 0  
Business Credit Cards

A Business Credit Card can help you in running your business:

When given to employees, business credit cards can radically simplify your administration of petty cash and expenses.
When your customers are given the option of paying by credit card, sales and the value of each sale often increase - and sales administration is simplified.

Some business credit card providers offer trade discounts that are usually reserved for big business.
 
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