join my FB Group [ Ссылка ]
Business credit can be obtained VERY quickly. You can get approved for initial vendor credit to help your business grow IMMEDIATELY. That credit will typically report within 30-90 days.
Once reported you will then have reported tradelines which in turn give you an established business credit profile and score. Once your profile is established in 90 days or less, you can then start getting real useable revolving store credit cards.
Within 120-180 days you can then get real cash credit such as Visa, MasterCard, Discover, and AMEX credit you can use anywhere.
Another benefit of business credit is you can get it even when you can’t get most business loans.
Most conventional and private lenders won’t lend to companies without financials and who have been open 3 years or more.
The most popular cash flow type of financing requires one year in business and steady revenue.
Most consumer credit card approvals are based on personal income but with business credit, even a startup can get loads of new credit without any of these items.
Business credit is perfect for businesses that don’t have or want to show financials. Let’s face it, we write off all expenses in a business we can. This leaves a smaller net profit, which is what most lenders and investors look at most.
Business credit doesn’t look at financials, or bank statements.
A business even with no cash flow can be approved for high limit cards, helping them grow their cash flow.
And tax returns aren’t looked at either, so even if the business shows a loss they can still be approved.
Most business lending requires collateral. This is because most businesses fail, and the risk of repayment of lent money is VERY high.
This is why most conventional lenders make it so hard to get money; they aren’t setup for this type of risk.
This is also why SBA requires ALL business assets, and even personal assets, be used as collateral. Business credit is one of the only ways to get money without providing collateral to offset the risk.
90% of the general population knows nothing about business credit. Now that YOU do, you have a HUGE competitive advantage. It’s much easier to grow a business with access to credit.
You can test advertising easier and make some mistakes without risking it all. When you have access to capital you have a big advantage over your competitors who don’t.
Let’s face it, most businesses fail and according to SBA the two biggest reasons for failure are lack of access to capital and management mistakes.
When you have more money, you can afford to make more mistakes so having access to capital helps save you from BOTH of the main reasons that most businesses fail.
Business Credit Benefits You Should Know About
www.bkhcreditgroup.com
