As an entrepreneur, you may have a higher tolerance for risk than the average person. But do you enjoy the thrill of business and investing so much that you’re willing to risks:
-Being hounded by creditors?
-Being denied a mortgage?
-Paying more than your fair share of interest on your loans?
-Losing your house?
If you answered “no” to any of the questions above, this report may be essential reading for you. That’s because, if you’re like most entrepreneurs, investors, and business owners I’ve met, you could be in danger of facing all these terrible problems. And it’s all because of your business.
Entrepreneurs often make mistakes that can end up costing them a lot of money when they’re starting, running, and growing their businesses. They might not realize they’re making a mistake, or even if they do, they might think the consequences will be small. But these mistakes can have big consequences.
One of the worst things that can happen to a business owner is not being able to qualify for a mortgage or car loan because their personal finances are in shambles. This can easily happen if you’re using your own money to fund your business launch or expansion and then using personal credit cards to pay for business expenses. If you want to avoid this catastrophe, you need to establish business credit.
It’s surprising how many business owners are unaware that they can establish business credit, and even fewer know how to do so. If more owners took the time to educate themselves on establishing credit, they would be able to access startup and working capital without using personal funds. Additionally, they could use business credit cards, which don’t appear on personal credit reports and therefore wouldn’t lower their scores.
The most important goal of business credit is to obtain unsecured business lines of credit. This can be done once the business credit profile is set up properly. Once a business obtains unsecured business lines of credit, they then have the working capital they need to start a business or expand its business. The business owner has checkbook control to use the business lines of credit as they wish. And best of all, the business lines of credit don’t report to the business owner’s personal credit report.
There are a number of banks that will lend to brand new start-up businesses if the business profile is set up correctly. That is right, brand new start-up businesses with no track record whatsoever can get extended unsecured business lines of credit so they can finance the business of their dreams.
Make no mistake about it; business credit is a MUST for every business owner. Don’t put your personal assets at risk finance or fund your business!