Imagine having the ability to access $50,000, $100,000, even $250,000 for your business. Now imagine doing this with
NO personal credit check and NO personal guarantee. Your success in business will be determined based on your business credit profile and score. With a good business credit profile you will have near unlimited borrowing power.
Without having a good business credit profile it will be a difficult path to success without having access to
working capital and funding. This is why almost all Fortune 500 companies use their business credit to secure funding.
It's not that they need the money to operate. Successful companies use funding as leverage to grow their business.
Business Credit is the best kept secret in business. Over 90% of all business owners know nothing about business credit or business credit scores. But when you do discover the power of what business credit can do for you and your business you will be floored at how easy it is to get money and grow your business.
One of the many benefits of business credit is that you can obtain funding with no personal credit check. With a strong business credit profile lenders will lend you money based on your business credit, not your personal credit.
This is excellent if you have personal credit issues as you can still qualify for funding. Even with exceptional personal credit, business credit gives you DOUBLE the borrowing power.
You can get approved for much higher funding amounts using your business credit than you would if you used your personal credit to qualify.
Another great benefit of business credit is there is no personal guarantee required for much of the funding you
obtain. This means you can be approved with no personal liability. So if you ever do default, the creditor can't pursue your personal assets like your home or personal bank accounts.
Business credit adds more value to your business and gives your business credibility. Stakeholders, partners, lenders, even potential buyers of your business will see more value in your business if you have a strong business credit profile built.
Most important by having a good business credit profile built you have security. It is much easier to run your business when working capital is easy to come by. Any business with a $150,000 credit line available will have a much better
chance of growth than if $0 was available.
Business clients do qualify right now for business credit. And through the business finance suite clients will be able to secure well over $50,000 in business credit within months.
Funding for Startups
Any business owner will attest that it is much easier to start and grow a business when you have access to funding and
You currently could have access to $100,000 or more in credit cards even if you have a brand new business, or want
to start a business. These credit cards are basically no documentation. You don't need to show financials or revenue to
qualify. This is what makes it perfect for startup businesses and new franchises.
But it is also perfect for existing business owners who don't want to show a lot of documents to obtain credit up to $100,000 quickly. It takes about 2-3 weeks to close and receive full access to your credit cards.
This account does require good credit to qualify. We can help you improve your credit if you don't qualify, or you can also use a personal guarantor to help you secure your funding.
Having access to $100,000 in credit cards will no-doubt give you more peace-of-mind as your business grows.
What's Your Entity?
I’m commonly asked which corporate entities can build business credit. The answer is simple, ALL entities can build business credit. You can build business credit with almost any corporate entity type.
But if you truly want to separate business credit from personal credit your business must be a separate legal entity not a sole proprietor or partnership
When you own a corporation or LLC, you are not part of the corporation, you and the corporation are separate. Once you are separate from your corporation, then you can truly separate your legal liability.
So even though any corporate entity can build business credit, only LLCs and corporations can get business credit
with no personal guarantee and no personal liability, all because with those entitles the business owner is truly separate from the business.
We can help you obtain money and credit for your business by offering the Business Finance Suite, while radically increasing your company revenue in the process. Let us know how we can help.
When you are trying to get funding for your business through loans or investors, there are quite a few variables to think about. Today we'll cover a few of the big ones here and now.
Funding Tip #1: Funding needs should be clear, well planned, and thoroughly detailed.
The meaning here is quite simple. If you are vague and unclear about what it is you need funding for, your chances of getting the funding are close to nil. For the sake of your business, and for the sake of getting funding, it's important to know exactly how you plan to use the money and how using the money will benefit your business. Also, it is important to know clearly how the bank or investor will get a return on their investment.
Funding Tip #2: Collateral is Required.
Banks can't lend money to startups that don't have anything to pledge as collateral. Collateral could be inventory, equipment, or other business assets.
Funding Tip #3: Lenders like personal guarantees.
A personal guarantee is like a secondary collateral for a loan in the bank's eyes. Providing a personal guarantee is required for many loans, and will improve your chances of getting many others.
Funding Tip #4: Outside investors aren't always the best answer.
A lot of people think about angel investors and venture capitalists with high hopes, but getting funding from outside investors has drawbacks too. For one thing, by using "equity funding" you are selling part of your business. In other words, you don't own the whole thing anymore. A lot of people fail to realize this, and it has important implications that you shouldn't ignore. For this and other reasons, funding through debt can sometimes be favorable for small businesses. Obviously caution must be taken when using debt as funding, too, but the big advantage is that you maintain control and ownership of your own company.
Funding Tip #5: The most common funding sources for startups are "inside" jobs.
When starting out, most new businesses rely on personal savings and personal credit. Some startups start with personal credit cards, others with home equity loans or home equity lines of credit. In any of these cases, the person starting the business is taking on substantial risk. This isn't necessarily bad in and of itself, but do remember this:
STARTING with personal credit is one thing, CONTINUING with it when you no longer need to is something else entirely.
It's one thing if you have to lean on your personal credit when you are just starting out, but once your business begins to stand on its own two feet it should start depending on its own credit too.
Opening a business is a huge undertaking, but once you have built a successful, thriving company, you may be itching to take things to the next level. If you have already opened your own small business, you’re probably familiar with the application and repayment process for a business loan. Congratulations if you may have completely paid back your original loan already! However, some business owners don’t realize that loans aren’t only for people launching their first business. Indeed, commercial financing can also help successful business owners grow their business by expanding to new markets, hiring more employees, or upgrading their current equipment or retail space commercial financing and business loans can help you reach higher goals. It’s important to keep your customers happy, and a loan could provide the immediate capital you need for purchasing additional inventory or enhanced marketing. If you are successful and you’re outgrowing your current space, a loan could allow you to move to a better location or construct an expansion to your current property. A loan could also help launch a second location, possibly leading to franchising opportunities in the future.
If your business is starting to slow down or plateau, a small business loan could be just the financial boost you need to breathe fresh life into your company. With a little extra money, you could give your store a makeover or invest in cutting-edge technology to keep your company in the public eye. Many small businesses fail because they get stuck in a rut and refuse to change with the times. Stagnation is never healthy, so it’s important to continually update and enhance your business.
Even successful small businesses rarely have enough extra funds to cover large purchases or investments. If you’re a savvy business owner faced with a great financial opportunity, taking out a loan could be the right move for the growth of your company. You may only need to take out a small amount for a specific purchase, or you may need to take out a larger amount for significant financial investments. If you’re confident that the new purchase or investment will increase your revenue, a loan may be the best option for your financial future.
If you’ve just finished paying off your original business loan, it may be difficult to consider taking out money again. Fortunately, many of these loans offer short-term repayment options, so you don’t need to commit to a long-term loan if it’s not necessary.
A loan may give you the freedom and opportunity to grow your small business responsibly, so small business owners should be aware of their options and open to the idea of investing a new sum of money into their company.
Trevana Properties is a placement company working with a variety of hedge funds, REIT's, commercial banks, specialty boutique lenders, private investors and other funding sources not widely known to the general public.