Business Credit Workshop
Registration is now closed! Hope to see you at the next Business Credit Workshop.
Step How to Build Business Credit
Our goal is to help you to build business credit without using your own personal credit. Having access to business credit is the lifeline for a business. It enables you to obtain the capital you need to expand, cover day to day expenses, purchase inventory, hire additional staff and allows you to conserve the cash on hand to cover your cost of doing business.
1. Understanding How Business Credit Works
Understanding that your credit report and business credit report has different system is very important. Your personal credit score is based on a FOCO score, where as your business credit is based on what industry you are in, how many employees you may have in your business, and how many years you have been in business. These factor are used to when you are building your credit report.
2, Steps to Build Fast Business Credit
Your business credit can be built with-in 3-6 months. There are steps that you will need to take such as becoming an entity of your state with a valid tax id. An account with Dun & Bradstreet and NAV. Opening a business bank account. These are just some of the steps, to learn more register for the Business Credit Workshop.
3, Learning About Net 30 and 60 Vendors for Start-Up Business
Net-30 accounts are accounts that extend you 30 days to pay the bill in full after you have purchased products. Net 30 accounts allow you to buy now and pay later. Commonly known as vendor credit, supplier credit, and trade credit. Vendors that report those payments to commercial credit agencies help your company establish strong business credit scores. In this workshop we will provide you with a list of over 40 net vendor for 2022.
Why Business Credit?
The recession is near, and the reality is some businesses will still be standing strong and thriving a year or two from now and many more won’t. Which one will you be?
Our workshop provides you with tolls and resources to help you build your business credit in 3-6 months. Our goal is to help you rewire your thinking on business credit; which will help to provide another fundamental level to think, act, and lead differently.
"The best protection against inflation is your own earning power.”
You know that times like these need new insights, tools, strategies and capabilities NOW more than ever. Your ability to anticipate and respond by investing in yourself and your business is an opportunity you can’t let get away.
Benefits to building your business score:
You can obtain business financing quicker and easier
Having a high business credit score will improve your chances of getting approved for small business loans, business lines of credit, or other business financing products.
A high business credit score will demonstrate to your lender that you will make repayments on time, which will help you get qualified quicker and easier.
You can get better credit and repayment terms with suppliers
This is beneficial when you need to buy equipment, stock up on inventory, or make other major purchases for your business. Selecting the right supplier such as net 30 vendors for your business can also help you secure good repayment terms that align with your needs.
You can protect your personal credit score
Business credit is also important for protecting your personal credit. As a rule of thumb, you should avoid using personal credit for business expenses and purchases. Incurring large business expenses with your personal credit will increase your credit utilization ratio, which measures how much credit you are using in relation to your credit limit. High credit utilization has a negative impact on your personal credit score.