Is The Future for Obtaining Business Loans Still Possible With the Current Economy and Lending Trends?
Yes it is possible to obtain business loans with the post mortgage industry debacle. There will always be the demand for capital and sources of funds, however the stipulations by the lenders are getting tougher. Keep in mind however, that the banks cannot survive on ATM and overdraft fees (even though they will try). Banks survive on Long Term, Low Risk Loans and Mortgages! Notice LOW RISK! Now more than ever, but there is a solution to organizing your business to demonstrate low risk by using a few easy and low cost methods.
Yes, every business can benefit from having a well rounded and strategically developed business credit profile. This really has become a science in the past few years due to the information age and the ability of the internet to access databases and records in milliseconds. You just can't show a business registered at your home residence and expect to get $100,000 in credit lines unless you use the property and give a personal guarantee! Personal Guarantee? NOT! That's just one of the reasons you made your company a registered legal stand alone entity and pay higher taxes!
Many companies get credit from local vendors and fail to get it reported and some have not gotten registered with any agencies at all.
If you fail to plan your credit development you will certainly add a red flag to the credit reporting agencies and lenders. The best resource available today is ISG3 and their continual monitoring and credit building systems. They spend thousands of dollars a year in strategies to help new or existing companies develop a great profile.
After the mortgage industry tanked lending for everyone thanks to their open practices it made the lending system tighten up after all the loan defaults and bank failures.
Look, your profile at the credit reporting agencies is not only about your credit ability, it's also a reflection of your company history. Many Government Agencies and Large Corporations will not give a contract to a company that does not have a sufficient credit score. The reason is that they equate payment history to a company's ability to deliver a product or service in a timely manor. So a company that has a history of paying its obligations on time or a few days early reflects organization, planning and a professional commitment to its obligations. The credit lines do not have to be large to make this strategy effective, but the bigger the better.
Probably at this point to give you more details and inside information from bankers and professionals who develop aged corporations and shelf corporations with credit is to follow the link to ISG3' website. It will be worth the effort and give you a deeper understanding of the methods that succeed in business credit building.
www.isg3.com Read More at ISG3
Yes it is possible to obtain business loans with the post mortgage industry debacle. There will always be the demand for capital and sources of funds, however the stipulations by the lenders are getting tougher. Keep in mind however, that the banks cannot survive on ATM and overdraft fees (even though they will try). Banks survive on Long Term, Low Risk Loans and Mortgages! Notice LOW RISK! Now more than ever, but there is a solution to organizing your business to demonstrate low risk by using a few easy and low cost methods.
Yes, every business can benefit from having a well rounded and strategically developed business credit profile. This really has become a science in the past few years due to the information age and the ability of the internet to access databases and records in milliseconds. You just can't show a business registered at your home residence and expect to get $100,000 in credit lines unless you use the property and give a personal guarantee! Personal Guarantee? NOT! That's just one of the reasons you made your company a registered legal stand alone entity and pay higher taxes!
Many companies get credit from local vendors and fail to get it reported and some have not gotten registered with any agencies at all.
If you fail to plan your credit development you will certainly add a red flag to the credit reporting agencies and lenders. The best resource available today is ISG3 and their continual monitoring and credit building systems. They spend thousands of dollars a year in strategies to help new or existing companies develop a great profile.
After the mortgage industry tanked lending for everyone thanks to their open practices it made the lending system tighten up after all the loan defaults and bank failures.
Look, your profile at the credit reporting agencies is not only about your credit ability, it's also a reflection of your company history. Many Government Agencies and Large Corporations will not give a contract to a company that does not have a sufficient credit score. The reason is that they equate payment history to a company's ability to deliver a product or service in a timely manor. So a company that has a history of paying its obligations on time or a few days early reflects organization, planning and a professional commitment to its obligations. The credit lines do not have to be large to make this strategy effective, but the bigger the better.
Probably at this point to give you more details and inside information from bankers and professionals who develop aged corporations and shelf corporations with credit is to follow the link to ISG3' website. It will be worth the effort and give you a deeper understanding of the methods that succeed in business credit building.
www.isg3.com Read More at ISG3
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