The New First Merchants Financial Services

Business Credit Builder Program

 

 

If you don't know the answer to any of the questions below, you are among thousands of business owners who are lost in the maze of how to build business credit. We can provide you the answers to the mystery.

 Who are the two largest business credit bureaus? What rights does a business owner have for incorrect information on a credit report? What are the business credit scores? What do business lenders look at? Where do you find companies that grant credit? How do you get a company to grant credit? Which companies report to the business credit bureaus? What credit card companies do not require personal guarantees?

 

Advantages of Having A Business Credit Profile

 

Just by building a business credit profile you will be able to limit the use of your personal guarantee and build business credit regardless of your personal credit history.

 

You will have more cash for the business. Convenience in purchasing. Protection of your personal assets from that of the business. Limit your personal liability from the business. No need for personal credit checks. Purchase vehicles with no personal guarantees. Purchase equipment, computers and more with your business credit. Preparing your business for future lending needs

 

Separating You From Your Business

 

You can separate your personal liability and protect your personal assets from that of the business just by incorporating. It is possible to build a business credit profile for a sole proprietorship or partnership however you are still responsible for all the debts of the company. We recommend building your business credit as a corporation or limited liability company. Other advantages of a corporation are: Separates you from your business. Limited liability of the owners and officers. Lower tax liability. 100% tax deductible insurance. Reimburse 100% of medical expenses. Corporate image. Raise capital and build credit faster. Lower your audit risk as a small corporation. Stock ownership - easier to transfer assets. Protect Your Personal Assets.

 

Business Credit Agencies

 

There are two main business credit reporting agencies in the United States that lenders and financial institutions rely on for information to grant credit. The two credit agencies are D&B and Experian Business.

 

D&B

     Over 150 million businesses are registered with D&B

     The credit profile created by D&B uses information provided by the business owners and vendors of the business

     Grants a PAYDEX score to businesses based on payment experiences of the business

     Issues a DUNS Rating based on the financial statements of the business

     Has a High Risk status for company's that will destroy a company's ability to obtain credit

 

Experian Business

 

     Over 14 million businesses are registered with Experian

     The credit profile created by Experian uses information provided by vendors only

     Grants an Intelliscore based on payment experiences

     Is one of the three largest personal credit bureaus

 

Business Credit Scores

 

The business credit scores with D&B and Experian are what the lenders and financial institutions look for to determine credit.

 

PAYDEX Score*

 

     Score ranges from 0 to 100

     A score of 75+ is good

     Based on payment experiences reported by vendors

     Need 5 trade references who report to D&B

 

Intelliscore

 

     Score ranges from 0 to 100

     A score of 75+ is good

     Based on payment experiences reported by vendors

     Need 2 trade references who report to Experian

 

DUNS Rating*

 

     Various rating schedules

     Based on employee size and financial statements

     Also takes into account payment history

 

CCN Credit...

 

Our service will prepare your business to obtain credit, loans or leases.

 

The Goal of the program:

 

     All lenders and credit bureau requirements of a business will be reviewed and put in place

     Create a new credit profile without creating a new identity

     Save money by bettering your credit score and lowering interest rates

     Obtain a favorable Credit Score of 75+* based on your companies payment experiences

     Assistance in obtaining a Credit Rating

     Assist in developing a credit profile

     Provide a list of companies that will extend credit with no personal guarantee and previous credit history and will report all payment experiences to   credit bureaus

     Provide The True Build SM Resource Center, which includes, list of credit card companies, vendors, banks, lenders and more

     Apply for 3-5 business retail credit cards with no personal guarantees

     Provide resources for vehicle leases, equipment financing or loans under the corporation's name

     To keep your business out of the No Credit, High Risk status

 

The Business Credit Builder Program

 

The steps your business will go through with the service is:

 

     Investigate the business to determine if any "High Risk" areas need to be looked at

     Apply for and obtain a credit profile

     Correctly navigate the 5 exact steps to building your credit profile properly

     Make sure that you avoid all the common mistakes that get companies "red-flagged"

     Provide vendors and get them to report to the credit bureaus

     Provide list of companies that offer products and services on credit without the need for a personal guarantee or any previous credit history,  and also report payment experiences to build the profile.

     Assist clients in developing Credit Scores of 75* or better based on payment history with trade references

     Apply for 3-5 new retail business credit cards that do not require a personal guarantee

     Work our way through to Step 5 and advanced No PG Approvals

     Give you the latest banking resources for both good personal credit and no PG situations

     The countries most aggressive real-world recession lenders

     Second level lenders and line of credit grantors

     Every known non personally guaranteed business credit card in existence in the USA

     Assist with establishing a Credit rating based on company financials

     Assist in finding financing and additional credit required by your business

     Process takes only 90 - 120 days to complete

     CCN works with you and your company throughout the Credit Building process

     Weekly Status Updates from your Business Credit Technician

     Access to a wealth of knowledge and your technician at anytime during business hours

     Personal Access to our Founder once your credit file is strong enough to be approved for Today's no PG solutions (Toyota, Rolls, Bentley, Equipment, Property?)

     Email Newsletter bi-monthly

     Process reports bi-monthly mailer

 

Business Credit Builder App

 

 

 

The Triad  # 1 Small Business & Church Lending Resource    

855-768-0933     336-768-0936

3516 Vest Mill Rd Winston Salem NC 27103

businesscreditbuilder@firstmerchantsfinancialservices.com