I get the opportunity to mold new and existing businesses in helping them separate their personal affairs with their business dealings.
What a true blessing it is for me to be part of this calling.
I feel there is nothing more in this world then the feeling of helping someone out and help them succeed.
In this article I would like to discuss the ways you and your business can be qualified and find out how you too can access monies from the bailout package set forth by and passed by our Congress.
A lot of the time business owners think that by simply forming a separate legal entity with their home state or a state they do not reside in they seem to have this illusion they will automatically be qualified to receive hundreds of thousands of dollars.
This however just isn't the case.
The dream world most business owners live in most definitely seems to be the downfall as well of their business.
We need to be realistic in our business dealings.
Can the Bank really stop lending money? NO! Can the bank however change the ways they look at your business and do a more detailed qualification of your risk factor, absolutely.
We need to understand some of the simple parameters of what being "qualified" really means.
We also need to understand the individuals who are creating those guideline and how you too can team up with someone or Company that knows the ins and outs of what it is the Bank or Lender is looking for prior to your business even applying for credit.
I feel that it is important to help people succeed and not have a 3000.
00 dollar price tag.
In this article let me explain some of the simple ways to look at it from your perspective and also from and individual who knows firsthand exactly what it is that particular Bank or Lender will require.
Let us start with some of the simple things: 1) Having an entity separating yourself as the owner from the business (Corp-LLC) 2) Making sure you consult with someone to set up the proper structure for your business.
3) Getting your business lined up with the Lending market requirements.
(Compliance) 4) Making sure you have an actual land line in the company name.
(No cell phones) 5) Having a proper business email put in place.
(Yahoo, AOL, Ect.
are free emails) 6) Making sure your business land line is in the national 411 Directory 7) Registration with the Business Credit Bureaus (DNB-Experian Business-BCUSA) 8) Building proper Vendors that will establish credit when no one else will) 9) Achieving your business PAYDEX score by making on time payments with vendors.
10) Working with additional vendors to add more depth to your business credit' 11) Lines of Credit, Credit Cards Ect.
12) Vehicle leasing, Software Leasing, Equipment leasing etc.
13) Additional Monitoring of your credit profile forever.
It is sure a pleasure to see and help business owners achieve success.
I hope this information will be used for you as guides to help you better understand what it is the Banks and lenders look for.
Remember the banks can't stop lending but they have certainly tightened up their restrictions on how they view a business and what determining factors go into them lending to your business or not.
There was an old saying we lived by not too many years ago and it used to be what you know got you where you needed to be.
Now this has made the turn it is now WHO you know vs.
what you know as the economy has changed and the lending market has tightened up the restrictions.
There is a lot of funding out there for new and existing business including women owned business and minority owned businesses.
Find out before applying for credit what it will take for your business to travel down the path of least resistance so that when it comes time to go to the funding table, you're all set to go! Remember seek the help of some one or a Company that knows what you need to have to be lined out so that you get approvals and are able to really build your business credit the proper way.
I hope this article helps you better understand what your chosen path might be or if you haven't planned the road to travel yet maybe you now have better insight to be able to make it as seamless as possible.
Thanks for the reads and remember "As they change, we change" Thanks again hope to see you on top; I know you too can get there!
What a true blessing it is for me to be part of this calling.
I feel there is nothing more in this world then the feeling of helping someone out and help them succeed.
In this article I would like to discuss the ways you and your business can be qualified and find out how you too can access monies from the bailout package set forth by and passed by our Congress.
A lot of the time business owners think that by simply forming a separate legal entity with their home state or a state they do not reside in they seem to have this illusion they will automatically be qualified to receive hundreds of thousands of dollars.
This however just isn't the case.
The dream world most business owners live in most definitely seems to be the downfall as well of their business.
We need to be realistic in our business dealings.
Can the Bank really stop lending money? NO! Can the bank however change the ways they look at your business and do a more detailed qualification of your risk factor, absolutely.
We need to understand some of the simple parameters of what being "qualified" really means.
We also need to understand the individuals who are creating those guideline and how you too can team up with someone or Company that knows the ins and outs of what it is the Bank or Lender is looking for prior to your business even applying for credit.
I feel that it is important to help people succeed and not have a 3000.
00 dollar price tag.
In this article let me explain some of the simple ways to look at it from your perspective and also from and individual who knows firsthand exactly what it is that particular Bank or Lender will require.
Let us start with some of the simple things: 1) Having an entity separating yourself as the owner from the business (Corp-LLC) 2) Making sure you consult with someone to set up the proper structure for your business.
3) Getting your business lined up with the Lending market requirements.
(Compliance) 4) Making sure you have an actual land line in the company name.
(No cell phones) 5) Having a proper business email put in place.
(Yahoo, AOL, Ect.
are free emails) 6) Making sure your business land line is in the national 411 Directory 7) Registration with the Business Credit Bureaus (DNB-Experian Business-BCUSA) 8) Building proper Vendors that will establish credit when no one else will) 9) Achieving your business PAYDEX score by making on time payments with vendors.
10) Working with additional vendors to add more depth to your business credit' 11) Lines of Credit, Credit Cards Ect.
12) Vehicle leasing, Software Leasing, Equipment leasing etc.
13) Additional Monitoring of your credit profile forever.
It is sure a pleasure to see and help business owners achieve success.
I hope this information will be used for you as guides to help you better understand what it is the Banks and lenders look for.
Remember the banks can't stop lending but they have certainly tightened up their restrictions on how they view a business and what determining factors go into them lending to your business or not.
There was an old saying we lived by not too many years ago and it used to be what you know got you where you needed to be.
Now this has made the turn it is now WHO you know vs.
what you know as the economy has changed and the lending market has tightened up the restrictions.
There is a lot of funding out there for new and existing business including women owned business and minority owned businesses.
Find out before applying for credit what it will take for your business to travel down the path of least resistance so that when it comes time to go to the funding table, you're all set to go! Remember seek the help of some one or a Company that knows what you need to have to be lined out so that you get approvals and are able to really build your business credit the proper way.
I hope this article helps you better understand what your chosen path might be or if you haven't planned the road to travel yet maybe you now have better insight to be able to make it as seamless as possible.
Thanks for the reads and remember "As they change, we change" Thanks again hope to see you on top; I know you too can get there!
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