3 Ways to Build Business Credit, Fast & Easy

The Challenge: You have a new small business with no credit history, no revenue and little/no investment capital.  How do you get business credit?  And – how do you get it, fast?

Unless you already have a lot of capital to invest, you’re in a race to profit or throw in the towel.   That’s because, according to the Small Business Administration (SBA), having or not having enough capital makes or breaks most new businesses.

You can have the best ideas and the best products in the world, but it doesn’t amount to a hill of beans if you don’t have enough money to carry your company forward until you have a profit explosion.

So, what’s the solution?

Actually, there’s three simple ways to build credit much faster, starting from scratch.  Here’s how…

Fast Business Credit Strategy #1 – Open Vendor Lines of Credit

Vendor lines of credit are easier to get than business credit cards and business loans – and you can’t get most credit cards and loans without them!

Vendor lines of credit are Net 15 or Net 30 accounts, which simply means you must pay vendors’ invoices in-full within 15 to 30 days.  You can’t carry-over (or “revolve”) balances month-to-month.

They’re easy to get approved for, even if your company has zero credit history.

The benefit to opening Net 15 and Net 30 credit accounts is it establishes a business credit identity that’s separate from your personal credit.

Fast Business Credit Strategy #2 – “Buy” Business Credit Using Cash as Collateral

There’s only one legitimate way to “buy” great business credit – that’s by getting a business loan, using cash as collateral.

Here’s how it works…  If you have $10,000 cash (or even $1,000 to $5,000), ask your bank to put it into a certificate of deposit (CD), then take out a 90-day business loan for the same amount, using the CD as collateral.

Yes, it ties up your cash for a few months, and you’ll pay interest on the loan; however, after you pay it off, your company’s credit report will show paid business loan.   That’s huge, don’t you agree?

When you apply for future business loans, all lenders see is a $10,000 paid business loan.   They’ll likely loan your company the same amount (or more), without collateral, because your company demonstrated it can (and does) repay its loans.

Fast Business Credit Strategy #3 – Make Your Company More “Credit Worthy”

What does that mean?

Simply this…  Besides having good credit, lenders want to know your company’s solid.  They’ll run your application through a series of “creditworthiness checks.”  If your application is kicked-out for failing any one “check”, chances are it gets denied.

For example, every business lender verifies your business phone number is listed in 411 directory assistance.   That’s why you need a dedicated business phone line to get business credit.

And that’s not the only thing lenders look for!   If you’re serious about getting business credit ASAP, the worst thing to do is waste precious time doing the wrong things, don’t you agree?

Most small business owners apply for credit without making their companies more “credit-worthy,” first.  It’s not their fault.  After all, how can anyone know what they don’t know?…  Like getting listed in 411.

That’s why you must make sure your company passes every creditworthiness test before you apply for business loans or credit cards.

If you’re already in business, STOP trying to get credit and run-through the checklist, first!  Otherwise, you’ll spin your wheels and get nowhere closer to getting real business financing.

The good news is, you’ll find a complete “creditworthiness checklist” in my new Six Figure Business Credit System.

It’s risky to apply for business credit without following a tested strategy; it’s smart to “steal” the proven plan from my course to get business credit, faster and easier.

If you’re serious about getting quick business financing, you owe it to yourself to get my Six Figure Business Credit course now on a 100% risk-free basis.  Click here now to get the full scoop…