Thomas Kish Business credit coaching

[John C.]

Has anyone signed up for his business credit coaching. He says you can get business credit within 4 months on avg. even if the LLC is new or doesn't exist. Is this for real or throwing away about $1200. He says he has contacts and knows what to say to the lenders and such. If it works it would be worth it.

[Jennifer Minge]

Here is the basics of getting business credit that I will give you for free so you don't have to pay for it.

1) start business. Get it registered in your state. Get a tax id or EIN for IRS.
2) Get a Dun & Bradstreet account number. Got to their website and sign up where it says you are applying for a government contact and get number in 24-48 hours. NOTE: D&B will call & convince you to buy their products or say your D&B number is not valid you have to pay for one. Total BS. Don't pay. Ignore calls.
3) Setup accounts at companies offering net 30 terms. Stapes, Office Max, Quill, Uline etc. Order something. Pay in 30 days. Let them report to D&B. Some report quarterly so this can take up to 6 months. You need min of 3 accounts to report and 5-6 is best.
4) D&B will give you company a rating of 80 assuming you paid all net 30 accounts on time.
5) With D&B rating. Go to banks, homedepot, lowes, Amazon, Sams Club, gas stations and apply for credit under your business name. NOTE: You will have to give them your SSN, they will check your credit, you will have to PG the credit card.
6) Over time these credit cards will have their account limits increased every 6-12 months. For bigger limit cards at banks, work the smaller companies first to establish a credit file then apply with them after a year.
7) By now you have been building credit for at least 2 years and have had to pg every credit card. You can now apply for credit using your business credit payment history and EIN and not use your SSN or PG the application.

If you were expecting to create a new business tomorrow and have a bank give you 100k in business credit the next day without pg, you would be mistaken.

If you find this helpful, next time you meet me, just remember my favorite drink is a margarita :-)