The Perfect Fit: Keys To Building Business Credit

By Shaune Cohen

Business credit simply allows your company to have LEVERAGE.

Business Credit is a separate credit system from personal credit that's strictly scored based upon your business.

By establishing business credit, you can get large amounts of funding that you wouldn't qualify for with only using your personal credit

• Language: English
• Publisher: C3 Coaching Strategies
• Release date: May 1, 2022
• ISBN: 9781087926599

Shaune Cohen

Shaune Cohen is a thought leader, financial educator and a  best-selling author. She uses a culturally responsive approach in teaching wealth building and entrepreneurship to adults and children. She is a speaker, author and the CEO of C3 Coaching Strategies® a financial education company that blends psychology & personal finance. Coach Shaune is best known for helping people maximize their full potential by giving them the inspiration, tools, & resources needed to live their best lives. Her message is one of fiscal responsibility, entrepreneurship, and wealth empowerment.

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TABLE OF CONTENTS   

Introduction

      Your personal credit score won't matter when building initial business credit. This is TRUE. However, if you’re reading this, you already know that good credit (both consumer and business) is important for the future of your venture, but let’s explore the benefits a bit more.

      A strong business credit score can help you secure better interest rates on loans, decrease instances where you need to prepay for a specific product or service, and secure better trade terms with important suppliers in your industry. In the long run, this will help you save money, keep cash flow liquid, and access the funds or assets you need to help your business grow. Adversely, having bad business credit can limit your ability to secure financing.

      In fact, one of the primary reasons business owners are denied funding is due to a failure to understand credit. A recent study by the Small Business American Dream Gap Report found that nearly one in four businesses don’t know why their loan applications are denied, yet businesses that understand their business credit scores are 41% more likely to get approved for a small business loan.

      Establishing business credit can help you draw a clear and important line between your personal and business finances and mitigate the need to sign a personal guarantee for business funds.  Now that you understand the importance of having good business credit, make establishing and building your business credit a priority. Bake your credit-building strategies into your business plan and keep tabs on your credit report to ensure that your credit scores are soaring. 

    Whether you need a loan right now or not, good credit practices are a great foundation for a successful small business. We will guide you on building your business credit from  startup to a profitable business.

1. Introduction to Business Credit

If you have a Corporation or LLC you can QUALIFY for Approvals IMMEDIATELY and obtain RESULTS in DAYS!  This is just a starting point and foundation for a true separation of you and your business’ credit. Non-Personally Guaranteed Business Credit!

    You CAN completely separate yourself from your business and get company credit cards, including Visa and MasterCard business cards, vendor lines of credit, dramatically improve cash flow, and buy or lease cars and buildings without EVER risking your personal credit.

    Business credit can be established solely using your business EIN/Tax ID. This number is separate from the owners social security number and creates a separation from the owner(s) personal credit or social security number.

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