Don't Be Sorry. Be Creative w/ Business Credit.
3 Reasons To Choose Business Credit w/ a Personal Guarantee:
1. Minimum Qualifications
- There are only 2 requirements: good personal credit and healthy projected income. Lenders want to know how well an applicant has managed their personal funds, and if the applicant is able to project substantial earnings.
2. Quick Transfer of Funds
- Business credit refers to the securing of credit cards under your business entity. Typically, funding w/ a personal guarantee is swift and seamless. Some decisions are instant while others take a little over a week.
3. NO attachment to your personal credit file
- As a business owner/investor it's best practice to keep your personal credit clean. Business credit does not appear on your personal credit file unless you default.
Always evaluate all costs up front. Debt can be an asset when used with precision.
Comments (1)
Hey, I’m perplexed about the difference between: going to nerd wallet, listing 5-10 business cards that don’t report to consumer credit agencies only commercial bureaus, and applying for the cards with 0% APR and 0% Balance Transfer fees all at once vice using a business credit guru. They claim to be able to secure more funding because they “know the lenders”. What are your thoughts?
Isaiah Payne, over 7 years ago