Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
8Activity
0 of .
Results for:
No results containing your search query
P. 1
How and Why Get Credit

How and Why Get Credit

Ratings: (0)|Views: 84|Likes:
Published by Saul Arias-Mendoza
How to Get Low-Interest Business Loans, Leases, and Credit Lines

…Without the Risks of Personal Guarantees,
and Without Using Or Damaging Your
Personal Credit
How to Get Low-Interest Business Loans, Leases, and Credit Lines

…Without the Risks of Personal Guarantees,
and Without Using Or Damaging Your
Personal Credit

More info:

Published by: Saul Arias-Mendoza on Dec 22, 2009
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

11/06/2010

pdf

text

original

 
This document is protected by copyright law. Any unauthorized alteration, duplication, or redistribution is strictly prohibited. ©2006-2009 All Rights Reserved Business Credit Services, Inc.
1
How to Get Low-Interest BusinessLoans, Leases, and Credit Lines
Without the Risks of Personal Guarantees,and Without Using Or Damaging YourPersonal Credit
By David Gass, America’s foremost authority onestablishing credit worthiness for small businesses
 
This document is protected by copyright law. Any unauthorized alteration, duplication, or redistribution is strictly prohibited. ©2006-2009 All Rights Reserved Business Credit Services, Inc.
2
CHAPTER ONE:What nobody ever told you about business credit
If you’re like 92% of small business owners, growing your business is damaging yourpersonal credit score. This happens every time you:
•Applyforbusinesscreditwithyoursocialsecuritynumber•RunupbalancesonyourcreditcardsorcreditlinesMakecashadvancesGetdeclinedforcredit
Using your personal credit to apply for business loans, leases, or credit lines hurts you intwo ways.1) It damages your personal credit score. That makes it harder (and moreexpensive) to get loans, leases, and credit lines.2) It keeps you from building a
positivebusinesscreditprole
-- which isthe key to growing your business in the long run.In Chapter Two, we’ll discuss this second consequence: failing to build a business credit
prole.Butrightnow,let’slookattherstconsequence.
According to our studies, the typical entrepreneur has 10+ credit inquiries per year. Howabout you? Every time you apply for credit using your social security number, another inquiry showsup on your personal credit report and lowers your score. But that’s not all.Every time you’re declined, and every time you accumulate debt, your score drops again,making it harder and harder to get home loans, car loans, equity lines, and credit cards.And if you’re approved at all… 
You’ll be treated as a subprime borrower – stung by above-market interest rates.
CASESTUDY:PHOENIXENTREPRENUERForveyears,aPhoenixentrepreneurhadhispersonalandbusinesschecking
 accounts at his local bank, along with three business loans/lines of credit.When he needed a loan for his son’s college tuition, they declined him.Why? His business loans were in his personal name, so they were reported to hispersonal credit report.Because of his business debt, and too much credit in revolving accounts, the

Activity (8)

You've already reviewed this. Edit your review.
1 hundred reads
qvs liked this
alexis liked this
jezsika liked this
bala2029 liked this
Sean Leary liked this
wanis08 liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->