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3 Steps towards a Better Credit Rating

07. February 2013 · 4 comments · Categories: Articles, Business, business credit, business credit history, business credit rating, business credit report, business credit score, Credit, credit dispute letter, small business

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What are your business financial goals for the year? If improving the credit score of your enterprise is one of them then, we advise you to remember and employ the suggestions we have enumerated and discussed below. We believe that by doing so; you can surely raise your business credit rating and, soon your commercial establishment will reap the benefits of having an untarnished credit reputation.

Get rid of errors in your credit report. Have you seen the latest copies of your business credit file? If you haven’t; we advise you to contact the major credit bureaus and order copies of your business reports. As soon as the documents arrive, check them for outdated accounts, incorrect payment entries, fraudulent or unauthorized charges, and even for minor errors in the name, address, and contact information of your business, and even in your Employer identification Number, or EIN. Keep in mind that such items can inflict damage to the credit history of your enterprise, and affect its chances of qualifying for affordable credit programs, in the coming months. More »

3 Tips for Ensuring the Approval of Your Business Loan Application

05. February 2013 · 4 comments · Categories: annual credit report, Articles, Business, business credit rating, business credit report, business credit score, Business Financing, business loan, business loan application, Business Loans, small business

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Are you about to submit your business loan application to a bank or a private lender, nearby? Before you do so, we suggest you read the remainder of this piece. That’s because in the paragraphs below, we have enumerated and discussed several tips that can help guarantee the approval of your request for business financing.

Order the latest copies of your personal or business credit report, first. After all, such documents can help you gauge how likely your application for a business line of credit will receive approval. More »

Simple Suggestions for Start up Business Loan Applicants

03. February 2013 · 5 comments · Categories: annual credit report, Articles, Business, Business Financing, business loan, Business Loans, small business, startup business loans

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Are you a start up business owner, looking for pointers you can use to qualify for a small business loan? If your answer to this is YES then, we encourage you to pay close attention to the paragraphs below. That’s because in the remainder of this piece we have enumerated and tackled suggestions you can employ to improve your chances of being granted the business financing deal you need.

Get rid of errors in your annual credit report. If your enterprise is yet to establish its credit history then, you have no choice but to use your personal credit profile when applying for business lines of credit. Hence, you should see to it that your annual report is free from errors or inconsistencies which might ruin your chances of qualifying for the start up business loan you wish to take out. More »

Business Financing Mistakes to Avoid in 2013

30. January 2013 · 3 comments · Categories: Articles, Business, business credit, business credit cards, business credit report, business credit score, Business Financing, business loan, Business Loans, small business, small business loans

Are you planning to apply for financing to support the needs of your small shop or store, in the coming months? If you are then, we advise you to pay close attention to the remainder of this piece.

That’s because, in the paragraphs below, we have enumerated and discussed several business financing mistakes you should definitely avoid, this year.

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Striking credit deals with firms that lack accreditation from the federal or state government. Did you know that applying for business loans and credit cards with firms that don’t possess permits and licenses issued by the federal or state government increases your risk of getting ripped off by scam artists and fraudsters? In fact, one hasty decision can inflict damage to your business credit history and compromise your chances of qualifying for affordable lines of credit, later on.

This is the reason why we constantly remind our readers to take the time to run background checks on their target card issuers and lenders. Make sure that you conduct thorough investigation on your prospective credit agencies before filling out and submitting application forms to them. That way, you will easily know where it would be safe for you to take out the financing deals your enterprise needs. More »

A Closer Look at Business Equipment Leases

28. January 2013 · 2 comments · Categories: Alternative Financing, Articles, Business, business equipment financing, business equipment lease, Equipment Leasing, leasing business equipment, small business

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A lot of business owners today are still not very familiar with business equipment leases. No wonder, most of them are hesitant to sign up for these beneficial programs.

Now, if you wish to understand how an equipment lease works then, we advise you to pay close attention to the remainder of this piece.

What is Leasing Business Equipment All About?

A business equipment lease can provide entrepreneurs, like you, their much-needed office and manufacturing equipment, in the soonest possible time. In return, your commercial establishment will shoulder the “rent” or monthly charge for using the furniture, fixture, or machines you borrowed from a local equipment supplier.

Leasing business equipment is often considered a much cheaper alternative to purchasing office or production machinery. That’s because those who took out equipment leases don’t incur the costs usually associated with the acquisition of equipment, which usually include, shipment or transportation, installation and even insurance costs. More »

How to Choose a Suitable Business Line of Credit

24. January 2013 · 3 comments · Categories: Articles, Business, business credit cards, business credit rating, business credit report, business credit score, Business Financing, business loan, Business Loans, Credit Cards, financing, small business

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Financing the needs of your small shop or store can be quite challenging, especially if you don’t have sufficient cash on hand. Good thing, there are many firms today that are willing to extend credit programs to start-up and small business owners, like you.

Still, it is not that easy to pick a business line of credit. After all, you need to consider several factors just to ensure that the credit program you will get will match the financial requirements and capabilities of your enterprise. So how can an entrepreneur, like you, select an appropriate business loan or credit card program? To know the answer to this question, we suggest you consider the paragraphs below. More »

5 Great Tips for Handling Your Corporate Credit Cards

22. January 2013 · Write a comment · Categories: Articles, Business, business credit, business credit cards, business credit history, corporate credit cards, Credit Cards

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If you’re currently managing corporate credit cards and you’re interested to know how you can effectively and responsibly handle them then, we advise you to employ the following suggestions:

Never exceed your spending limit. Did you know that maxing out your credit cards will not just inflict damage to your business credit history? Such habit can also eat up a significant percentage of your business finances, which is something you could have allotted for more important purchases and for urgent business requirements.

This goes to show that if you wish to maintain a solid credit profile this year, and you’re keen on keeping your credit payments minimal then, you should resolve to use just 30% – 40% of the spending limit imposed on your business credit card accounts. More »

Things to Ponder on Before Signing up for a Startup Business Loan

20. January 2013 · Write a comment · Categories: Articles, Business, Business Financing, business loan, Business Loans, business start up, new business financing, small business, startup business loans

First-time business owners, like you, are discouraged from immediately signing up for the first credit offers they will receive. After all, you may eventually regret making such decision when you discover that the credit program you took out does not match the needs, preferences and budget of your enterprise.

Hence, to improve your chances of finding a suitable startup business loan, we encourage you to think about the following things, first:

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The purpose of your loan. Before you start scouting for a business loan, you need to determine first the purpose it will serve. Are you planning to take out a credit program to supplement your working capital? Will you use the funds to finance the purchase of an important office or manufacturing equipment? Or do you need additional cash to buy product inventory? See to it that you have an important reason that will help justify your decision to take out a loan. Otherwise, you may have to content yourself with your current cash on–hand. More »

Credit Card Management Tips for Business Rewards Cardholders

16. January 2013 · 4 comments · Categories: Articles, Business, business credit card with rewards, business credit cards, business credit history, business credit score, business reward credit cards, business rewards credit card, Credit Cards, credit cards with rewards, rewards credit card

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Have you just taken out a business rewards credit card? And are you interested to know how you can effectively and responsibly manage your business line of credit? If you answered YES to these two questions then, we advise you to observe the following pointers:

Use your business credit card responsibly. This does not only involve using your line of credit exclusively for your business-related expenses. It also entails using just a reasonable percentage of your credit limit. After all, by using just 25 to 40 per cent of the spending limit or cap imposed on your credit card with rewards, you can succeed in keeping your debt-to-limit ratio low, which can in turn be instrumental for your enterprise to build and maintain an excellent credit reputation.

Furthermore, by spending within your credit limit, you can avoid incurring pesky fines and penalties, such as overdraft charges and declined transactions fees, which could eat up a significant percentage of your working capital. More »

How Do Secured Business Credit Cards Differ from Unsecured Business Credit Cards?

14. January 2013 · 2 comments · Categories: Articles, Business, business credit cards, business credit history, business credit score, Credit Cards, secured business credit cards, small business, unsecured business credit card

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A lot of first-time entrepreneurs today wish to know how they can distinguish secured from unsecured business credit cards. If you belong to this group of business owners and you wish to find out the answer to the question posted above then, we advise you to keep reading the remainder of this piece.

3 Differentiating Factors

The security deposit requirement. As their names imply, secured credit cards always come with collateral requirements which come in the form of an initial cash-out. This deposit serves two important purposes, namely to guarantee the repayment of the future credit card charges which will be made by the business owner, and second to determine the spending limit or cap that will be imposed on the business card account.

On the other hand, unsecured credit cards don’t have security deposit requirements. Prospective cardholders, like you, need not worry about submitting lump-sums to their target card issuers. This is because the firms which grant these lines of credit use other requirements to properly screen their card applicants. More »