How Business Credit Works
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- Опубліковано 24 сер 2024
- Discover How Business Credit Works!
Learn More At: www.businesscr...
Business Credit - What is it?
-credit for your business in business name
-commercial credit
Benefits?
-separate from personal credit
-unlimited profiles
-utilization doesn't mess up personal score
-no limit to how many banks work with
How to build it?
-get setup properly
-get business credit profile
-build trade lines
Where to get the money?
-local community banks
Appreciate the info. 2 years into business. An our company qualified for a new power unit . 🤘🤘 need some working Capitol now. Great info. Will definitely be going into the local community banks.
That's awesome! Glad to hear
This was great
Thank you Tyler!
First time watching, Thank you so much!!
You are welcome! Appreciate you watching and welcome to the club
Awesome video lots of help.
Thank you this is great
Very glad to help!!
Thank you very good tips for how to grow your business credit.
You're welcome
Thank you, very informative.
You are welcome!
Thank you for explaining this ❤️💯 I wish h.s gave us a trade at 12th grade cuz I’m 26 still learning about money n business. But I’m doing pretty good
Excellent video I just learned soooo much! N I subscribed!
alright! thanks and glad you learned so much!
Thank you so much for sharing!
you are most welcome!
You just earned a subscriber. Thanks for not sucking like all these other people on here.
wow thank you
Great video!!!
Thank you!
Can I get approved if my personal credit has a couple delinquency?
Thanks for the information & inspiration!
you're welcome!
I enjoyed your video.
Thank you for watching, Remetia!
Which banks are you referring too that don’t report business credit to personal credit
Lots of banks! Almost all business credit does not report to personal credit as long as you pay on time. I have seen td bank and capone business credit cards report to personal. But all the others have not. We mention these lenders in our other videos too
That’s what I was wondering too
@@BusinessCreditWorkshopis there anyway to make it where if I default it won’t go on my personal? Like when ur applying for the business credit can u not put ur ssn
Good job
Thanks!
Step one of having business credit.... Have good personal credit.
It is relevant but the way you are wording it is a big misconception. There are other options out there to get funding despite your personal credit score and I'm not talking about net 30 accounts.
@@BusinessCreditWorkshop "It is relevant but"... I'll tell you something about monetary systems that you might not be privy too:
"We designed extensions of credit to cripple nations and their people and not for so-called business opportunity." - Agustin Carstens
@@JohnAdams-mu7xd Rather than worry about things you cannot control, focus on what you can control. If you choose, you can use debt as good debt. As a tool to acquire assets that produce cash flow or a means to scale your business. You have the option to use it in a way that many other successful people and businesses (both large and small) have used it to grow their businesses and create more freedom and cash flow in your life.
@@BusinessCreditWorkshop Good advice on not worrying about it. Maybe if I close my eyes it will disappear.
"You'll own nothing and you will be happy".... - Klaus
why do you say so and how can one leverage against that?
So I want to start my own llc business of tcg aka sport card vendor can the credit funding be used to buy merchandise for my business? Thanks
I don't see why not
Im in the process of starting an online clothing business. So if i have not sold any product yet but get and LLC can i still get biz credit?
Yes, some banks allow you to make revenue projections. Just talk it out with your banker and if they cannot do it, call another bank.
I have a 90 score with experian what can i do with it
Around 6 minutes into the video we explain what to do! you want to look at number of on time tradelines too, not just score! but good job on the 90. finish the steps and go get the funding you deserve, it really pays off like we show on our channel.
What’s the importance of having business credit? I’m a little confused. What are the pros?
its separate from your personal credit, higher limits, doesn't show on your personal credit, you can get a lot of funding to scale your business to name a few...
Does this go the same for a DBA
not as much, MUCH better to look into an LLC or Corp.
First and far most you need a business income. Start from the bottom work up
Actually some banks allow startup companies to project income and/or use personal income to help qualify. But I agree that your business needs to have a plan. Personally, I needed the capital (business credit) in order to make the business income, which is not the way you stated.
@@BusinessCreditWorkshop that was a good video. I wasn’t trying to downplay it. The comment was mostly for the viewers that think they can start businesses just to get credit cards. Thanks
@@lcmlcm2460 I understand! And thank you!
If you have an ein do you need an llc?
Especially website businesses?
you should have llc, ein and website to get business funding. the website is not mandatory but recm'd
@@BusinessCreditWorkshop lets say I had already applied for a ein for my published books. Do I have to apply for another ein or can I use the same one.
@@dulcie82 that is a great question for a certified public accountant (CPA)
I have a question, let’s say I used my entire credit limit on my credit card. Not pay in full but pay monthly. Is that good or no?
no
So is maxing out business credit card bad for your business credit?
Not really because it will not really affect your ability to get more business credit as much as maxing out personal credit would! There are only a few banks that look at business credit utilization. Whereas just about all banks look at personal credit utilization! This difference is one of the great benefits of using business credit!
I do not have an official business yet. However is it possible to business credit?
Yes it is possible to do it without a company. But my method involves using an LLC or a Corp.
10/10
Thanks man.
You are welcome!