Articles About Cash And Money

Small Business Loan Solutions

Statistics show that 94.7% of all small business owners feel their only financial resources are their local banks or personal credit cards... even though their local banks often require them to pledge their personal homes & land as collateral. Here are some tips that can save your business, regardless of your personal credit history. First of all, getting approved for a small business loan is definitely easier than getting personal loans... regardless of your personal credit scores. Additionally, getting the right types of corporate credit is absolutely critical: if you want to protect your personal assets, minimize the risk of a personal lawsuit affecting your business, and to your ability to weather the economic changes that happen overnight. All business owners must be much more proactive about developing relationships with the right types of lending institutions. You usually want to start your application process with out-of-state, national lenders... not your local or regional banking institutions. National lenders typically won't require a personal guarantee or your social security number. I've attached a basic roadmap you'll need to follow, if you need a small business startup loan, a business debt consolidation loan, a bad credit business loan, or a government business loan. Ultimately, you need to find a competent professional that can help you navigate through the process of building a strong corporate credit rating. Finding a competent business loan expert will give you a head start on your competition & also let you focus on running your day-to-day activities... instead of dealing with the hassles of establishing a strong business credit rating. An excellent business credit score can help your company's image, overnight. You need to prepare yourself with these very basic questions, before you apply for any business credit. 1. How is your business structured? Is it a sole proprietorship, C-corporation, S-Corporation, Limited-Liability Corporation (LLC), Partnership, or Trust? 2. How long has your business been recognized by your State & Local government? 3. Has your company ever had derogatory information reported against it to either of the two (2) most popular business credit reporting agencies, Dun & Bradstreet or Experian? 4. Are your company permits, licenses and registrations current? 5. Does your business have a physical address, or are you trying to use a U.S. Post Office Box instead? 6. Is your business telephone number recognized by directory assistance? 7. Are your incoming telephone calls professionally answered in your business name? 8. Have you established a business checking account? 9. Have you registered & asked for an Employer Identification Number (also known as an EIN) from the IRS? If your answer to the first question was a sole proprietorship, partnership or trust; I urge you to re-establish your company as a corporation or LLC. I'm not going to provide you with legal advice, but many CPAs and attorneys highly recommend LLCs (Limited Liability Corporations) as a way of protecting your personal assets & estate... in the event of any lawsuits being filed against your company. As a sole proprietor, your personal assets are at direct risk of seizure or forfeiture when faced with most types of legal action. Additionally, if you are applying for business loans in a corporation's name... most lending institutions will not require you to provide any personal guarantee! A corporation can still face difficulties applying for business credit, if it has been in business less than 2 years or had previous credit problems reported against it. Here are some ways to fix these problems. - Purchasing a "shelf corporation" or "aged corporation" that's been in good standing with your State government (for longer than 2 years) can drastically improve your chances for small business loan approval. - You can attempt to repair your business credit rating by writing dispute letters to Experian or Dun & Bradstreet, which isn't always possible. - Some corporate credit experts will help you find, select & purchase an established "shelf" or "aged" corporation, some of which already have strong credit ratings established... saving you alot of hassles! I cannot stress this enough... you MUST have a physical address (not a PO Box) if you want to establish a solid business credit rating. The same thing is said for telephone numbers & the way incoming phone calls are handled. Would you lend money to a company that does not appear to have a physical address or documented telephone number? And, don't forget to always keep your small business permits, licenses & registrations current... and always keep copies of these documents in case a potential lender asks for this information. Business checking accounts are a must. Again, this proves stability to your potential lenders. Here are a couple of tips for you, in case you've had any checking accounts closed by a financial institution. Pay off the outstanding balance (if any) that's being reported by the bank, or open a checking account at a bank or credit union that doesn't use the ChexSystems credit reporting system. Most credit unions don't use ChexSystems, and you can always find a list of banking institutions in your area that don't use ChexSystems... by simply doing a search on Google, Yahoo or MSN. Small business credit ratings are tracked using your business name, business address and employer identification number (EIN). You can apply for & receive an EIN at the IRS's website (irs.gov). You can also call the IRS, but be prepared for long waits. Then you'll want to obtain a D-U-N-S number from Dun & Bradstreet, the largest business credit reporting agency. You can apply for this without any fees at Dun & Bradstreet's website (dnb.com), and you'll usually receive this number within thirty (30) days. Do not apply for this number until you've prepared your self thoroughly, because any information you give to them... goes into your credit file... permanently. After you've obtained your D-U-N-S number, you're probably ready to start establishing some vendor credit. Vendor credit is where many business owners start establishing business credit ratings. Simply go to staples.com, officemax.com or officedepot.com to get started. Then, you'll also need to fax your business telephone bill & the credit application to them... on your business letterhead (which you can create using your favorite word processing software if you don't have expensive stationery). They usually don't require any personal guarantees (if you've followed the outline above), and you'll usually receive a starting credit line of $750. This is critical & I repeat... critical! Always pay your invoices before the grace periods begin... especially on unsecured credit cards or vendor credit lines. Dun & Bradstreet will lower your credit score for every day a creditor reports your bill as unpaid while you're within your grace period. Whereas, personal credit scores are not lowered unless you are 30+ days past your due date. Dun & Bradstreet reports what's known as a Paydex score (your corporate credit score), and a score of 80 is very good... with 100 being the highest score you can achieve. Your Paydex score is issued once you've established a known vendor/credit relationship with at least five (5) creditors. There are shortcuts that will help you get much more than $750 alot faster. When using a business credit expert, most small business owners (even startups) can be approved for vendor credit lines of $25,000-$50,000 and open credit lines of $50,000, $250,000, $500,000 or more... in as little as 45-60 days... by using their knowledge of the application process & "shelf" corporations. Now, it's your choice. Are you going to go against the grain & try to establish business credit on your own (which could prove costly to your business health, growth & survival)? Or, will you choose to utilize a corporate credit expert... allowing you to remain focused on your daily business needs? Most business owners make the mistake of trying to do this on their own... usually trying to find grants, investor "angel" money, or falling back onto the "personal credit card sword". Don't be a casualty like the rest. Learn more about how you can use the tools that informed, educated millionaire businessmen have used for years.

Lee Kendrick has been featured by national magazines as a credit expert, finance professional, successful internet marketer, software developer, public speaker, aspiring author & all-around nice guy. Register for his infamous newsletter at http://leekendrick.net/credit-expert & you'll also discover who he personally recommends as the best small business loan expert... helping you borrow up to $250,000 or more... in as little as 45-60 days... regardless of your personal credit scores.

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

MORE ARTICLES:

Cash Master Horse Racing System Review
Cash-Master is a piece of horse betting software that was developed by Graham Laurie in 2004 It is guaranteed to make you a tax free income garnered from online bookmakers. It works well with online sites such as Ladbrokes, Coral and William Hill.

How You Can Make Tons Of Cash From Internet Marketing
There are climes in this wide world where the Internet technology is till a wonder, a miracle and still contemplated with awe and incredulity. Thus, were one to go further and tell such people about the stupendous amount of wealth that has been made and would continue to be made they will surely be stupefied. Now even in our advanced climes if somebody had told you that you could place an advert on the net and make a financial killing thereof, you would have broken into a fit of laughter.

Unsecured tenant loans: Money for tenants
For most people today, dealing with daily expenditure is a big problem. To cope with the financial crisis, most of us apply for loans. But, getting a loan is not as simple as it seems to be. There are some prerequisites attached to a loan. It may either be collateral to secure the loan amount or a good credit history. It is necessary to assure the lender that the loan will be paid off on time.

uPlej.com's Unique Approach to Online Giving Helps Charities Raise Money in Tough Times
Charities are facing tough times ahead as both businesses and individuals have less to give. A tough economy means many are cutting back on giving. Online giving social network uPlej has a simple online subscription model that makes giving affordable. Unlike most social networks, the purpose isn't to be popular - it's to make a difference.

There Are Many Ways To Make Money Online
Making money online seems to be an elusive ability, known only to a selected few who keep raking in dough from other people promising to teach them how to do it. Many complain they are not really taught anything useful, except how to add another charge to their credit card. But, you already know how to do that since you have done it a few times before.

The 11 Best Money Saving Ideas of All Time - Part 3
At any time in history, no matter what the current state of the economy, no matter what the current trends, no matter what the unemployment rate is or where interest rates lurk, some money-saving ideas stay true.Some of you may have heard of these ideas before, others may be entirely new to you.

10 Simple Ways To Safely Store Food
Storing foods can present its own set of problems. And different types of foods have different storage requirements to prevent bacteria from setting in.

Who Loves Money Review - Make Serious Money Online Without Investing a Dime of your Own Money!
Who Loves Money Review

Five Things to Help Sell Your Home Fast, and For More Money
Selling your home requires some thought and a clear plan of action. Here are five things to consider when you're getting ready to sell your home:1) Know Your BuyersAre most of the homes in your neighborhood being bought by first-time or move-up buyers? Depending on which group will be looking at your home, you'll want to do the things that will make your home appealing to those buyers.

Follow the Money: 10 Years of Profit Optimization Progress Pays Off for Operators
Customer service, revenue management focus in two markets a winning strategy for The Rainmaker Group and its clients

To Earning Money Online - Opportunities Not Seen
We all have to earn money in order to buy the things that we want and need, right? There will always be the Rockefellers of the world, who are fortunately blessed from birth. As for the rest of us mere mortals, an income of some sort is imperative. Of course it would be sweet if we could all just have what ever we want, when we want them.

The Secret of Saving Money
Commitment, along with patience, is very essential if you want to save money in a profitable manner. It is essential to save while you can, to avoid panicking in a sudden emergency. Money saved is a security that only adds to your level of confidence and quality of life. There are some basic money saving steps that you could follow, from the beginning, to avoid financial problems in the future.

Home Equity Loan Cashing In On Your Equity
This is a type of loan under which a property owner uses his residence as collateral security and can get prearranged amount against the property. The loan allows you to use into your home's built-up equity. Home equity is the actual difference between the amount your home could be sold for and the amount that you already owe on the mortgage. Assume that the market value of your home is $200,000 and you owe $70,000 on your mortgage, then you have $130,000 equity available on your home. Remember that if you have more than one mortgage taken on your property, then all of them have to be considered for calculating the outstanding dues.

Making Money With Any MLM Program
Multi-level Marketing companies abound by the thousands. A great many well-known economists are predicting this form of selling to become the prevailing method of selling by the turn of the century.

Is it possible to get a Student Loan without Credit Checks?
Believe it or not, there are ways to finance college with no need to ckeck one's credit history.