{"id":654,"date":"2016-09-05T14:26:53","date_gmt":"2016-09-05T14:26:53","guid":{"rendered":"https:\/\/thefranchisecourier.com\/?p=654"},"modified":"2016-09-05T14:26:53","modified_gmt":"2016-09-05T14:26:53","slug":"is-building-business-credit-for-real","status":"publish","type":"post","link":"https:\/\/thefranchisecourier.com\/is-building-business-credit-for-real\/","title":{"rendered":"Is Building Business Credit for Real?"},"content":{"rendered":"

Today we are going to dispel the myths associated with building business credit. This much maligned, and in many cases oversold, product is critical to your success as a small business owner.<\/span><\/p>\n

Many small business owners use personal credit to run their business. Doing so could put you at risk if your business is ever in trouble.\u00a0\u00a0 Additionally, many creditors today are moving away from relying on personal credit alone when judging a business\u2019s financial health.\u00a0\u00a0 They recognize personal credit is not considered an ideal predictor of business behavior. \u00a0Many entrepreneurs with solid businesses wreck their personal credit in order to fund their business. To account for this phenomenon, smart creditors are taking advantage of new blended commercial scoring tools that integrate both personal and business credit attributes to assess and predict small business risk.\u00a0<\/span><\/p>\n

The reality is you can turn your entity in to a living breathing thing with a real live credit score. In many instances it can obtain credit all by itself. In others, having a good business credit score coupled with a good personal credit score, can make all the difference in you being awarded the credit you are looking for.<\/span><\/p>\n

Donald Trump has been in the news a lot lately–especially his numerous bankruptcies over the last 20 years. Have you ever wondered how his personal wealth has always stayed intact even though he\u2019s filed four different bankruptcies? You guessed it. He\u2019s never personally declared bankruptcy. His various businesses have and it\u2019s all perfectly legal. Relatively speaking he\u2019s utilized a law that every business owner in the country has available to him\/her. Think about that for a moment. Now the last thing we want is for our business to go south. But if it happens wouldn\u2019t it be comfortable to know your personal life wasn\u2019t going to be wiped out?<\/span><\/p>\n

A solid business credit score can also have numerous other benefits including. your entity now has a value and can be sold if needed\u2026many government contracts require a solid business credit profile\u2026you can lease equipment or vehicles with no personal guarantee\u2026and most of all you get preferential treatment from most lenders because of your dual scores. On top of all that, the average company enrolled in a business credit program typically gets as much as $75,000 in credit without a personal guarantee.<\/span><\/p>\n

Building business credit is not easy. It takes around six months and you will jump through similar hoops as when you build your personal credit score. Get credit\u2014use it wisely. Get more credit\u2014do the same. In six months your entity will have a score equivalent of a 750 FICO score. Think about the value of that. Business credit is real. It does work. It should be a part of every serious business owner\u2019s longevity plan.<\/span><\/p>\n

Midas Financial represents the #1 rated business credit building companies in the country. We’ve also built over 2000 entities in the last 12.5 years.\u00a0<\/span><\/p>\n

If you\u2019d like to get more information on exactly how the program works just send me an e-mail to:\u00a0david@midas-financial.com<\/span><\/a>.\u00a0 In the subject line put \u201cbuilding business credit\u201d.\u00a0 We’ll send you our step by step overview of how we build business credit for your company.<\/span><\/p>\n

And as always, happy and intelligent borrowing\u2026\u2026<\/span><\/p>\n

DAVID L. CARLL | PARTNER<\/b><\/span><\/p>\n

SMALL BUSINESS CAPITAL SOLUTIONS<\/b><\/span><\/p>\n

Office:<\/b>602.595.9014 | e:<\/b>david@midas-financial.com<\/span><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Today we are going to dispel the myths associated with building business credit. This much maligned, and in many cases oversold, product is critical to your success as a small business owner. Many small business owners use personal credit to run their business. Doing so could put you at risk if your business is ever<\/p>\n","protected":false},"author":1,"featured_media":655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_jetpack_memberships_contains_paid_content":false},"categories":[1],"tags":[108,109,111,110],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/thefranchisecourier.com\/wp-content\/uploads\/2016\/09\/building-business-credit-.png","_links":{"self":[{"href":"https:\/\/thefranchisecourier.com\/wp-json\/wp\/v2\/posts\/654"}],"collection":[{"href":"https:\/\/thefranchisecourier.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thefranchisecourier.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thefranchisecourier.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thefranchisecourier.com\/wp-json\/wp\/v2\/comments?post=654"}],"version-history":[{"count":0,"href":"https:\/\/thefranchisecourier.com\/wp-json\/wp\/v2\/posts\/654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thefranchisecourier.com\/wp-json\/wp\/v2\/media\/655"}],"wp:attachment":[{"href":"https:\/\/thefranchisecourier.com\/wp-json\/wp\/v2\/media?parent=654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thefranchisecourier.com\/wp-json\/wp\/v2\/categories?post=654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thefranchisecourier.com\/wp-json\/wp\/v2\/tags?post=654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}