Forums: Discussions for entrepreneurs and small business.

My pleasure!  Like I said, I found it on another forum and just thought it would be great for everyone.

Good fortune!

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Raise Capital in 90 Days Online Learn How This Works Bedzzz Inn, Inc Raised $92,867 with this system!

Well,
After Applying with one, Some lady called me and, the funny thing about it was, she was telling me about the packages. She explained to me that there are two ways of getting one.

1. You apply for one and you purchase their package.
2. You wait till you do business with a company and they report your rating to DNB.
   
   So basically, you will get one eventually. The only thing is you wont be able to add trade lines and stuff of that nature.
   Here is something for you guys. I tried opening an account with SAM`s Club and they are one of the hardest people to get credit with. Try elsewhere. Any Suggestions?
   
   I have T-Mobile under the Corporation`s name now..
   

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Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net

when I tried to go the free route a gentleman called me (this was last year around November, and tried to sell me the number.  I told him I had selected the free option and he said that the only way they would set it up for free for me was if I was trying to get a contract with the government, or if I was doing business with a company that already reports to them.  Did you already have business credit through someone that was reporting to them (eg. Office Depot or Staples)?

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Obstacles are those frightful things you see when you take your eyes off your goal.
     - Henry Ford

 

Staples and Office Depot are the easiest to open up.  The website may say no but you will get the credit cards without having to put up a personal guarantee (PG). NEBS and Viking are also easy, according to Creditboards.

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http://www.jamati.com
http://momshaven.ning.com
http://www.brownincmedia.com
http://pipelineinfo.org
http://alusainc.wordpress.com/

Obstacles are those frightful things you see when you take your eyes off your goal.
     - Henry Ford

Business credit, a liability a decrease in your company`s equity.  You might want to rethink this.  If you are willing to get a business loan against your business assets might be one way and most common ways businesses get funds for start up costs.  Sometimes not feasible.  If you are a soleproprietor, your company liabilities will be your personal liability, and your personal assets as well as your business is at risk should you default on your business.  Restructurize your business as a corporation to avoid this issue.  As a corporation and your marketing of your product should they be sound and well thought out, you may want to consider looking into selling shares publicly.  With investors they will purchase shares of your company stocks and you may use these funds from venture capitalism to help with start up cost. 

When you go to a bank seeking a business loan you will need  the following a sound business plan, projected cash flow and profit and loss and other things. 

You will need to sell your business potential be honest about the business dont fudge information, it will hurt you in the end. 

Bree

Some good points, Bree!  But it is also a reality that we live in a plastic society and many businesses will need credit at some point.  This is all about building up that credit so if and when it`s needed, you can obtain it.  Building up the business`s net worth is definitely the main goal, but if the additional liability creates more cash flow and assets and more than pays for itself, then it is a good option.

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Raise Capital in 90 Days Online Learn How This Works Bedzzz Inn, Inc Raised $92,867 with this system!

some of those credit card companies you listed, you still have to use your PG in order to apply for them. or am i not going about it in the right way?

I read over the information concerning establishing the business credit.  My question is . . . Is it easier to establish business credit with a S-Corp or LLC? I`m going to be setting up a part-time business soon and will be incorporating as well.  It will be a one person operated business.

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Raise Capital in 90 Days Online Learn How This Works Bedzzz Inn, Inc Raised $92,867 with this system!

Business credit is never really recorded like personal credit. The best way is history. Deal with larger companies and pay your invoices and don`t leave invoices hanging open. ry and establish net 7 days, net 14 days, etc. From there, one reference leads to another and that`s how you build business credit. It`s all about references from reputable sources.


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