Home: Message List - Great plan, bad credit -- seeking funds

Re: Great plan, bad credit -- seeking funds

Rehab223 — Sat, 09 Feb 2008 18:46:50 GMT

Moogrdotcom,

Why did you make the statement "don't fall for credit builder"?

Shop your Options - but also be Creative with your Marketing

My-Financial — Sat, 09 Feb 2008 17:34:17 GMT

NY Guy ,
As far as getting the funds you are doing the right thing... you have to ask and spread the word (you might also check out prosper, but definitely compare your offers, don't assume because you have challenged credit that you can't shop).
You have a great concept and I am sure you will get the funds you need. However, being in video production you should be able to create massive exposure for yourself for FREE. I would suggest creating some How to videos, like how to produce your own videos professionally, but giving them the option to contact you for a quote. Then you can submit your videos to mutliple sites. To read more on video marketing go to my site www.my-financialnetwork.com under Online Business & Marketing. We will also be launching My Financial Network TV in about 6 months and will be featuring user submitted videos on a variety of business related topics.
Submitting Articles is also another way to create Free exposure for yourself. Get creative with your marketing! There are a lot of options out there to get FREE Advertising.
My Two Cents,
Kevin

Re: Great plan, bad credit -- seeking funds

fredrick — Sat, 09 Feb 2008 17:01:51 GMT

Hello

I am a certified loan lender.I offer secured/unsecured loans to individuals and companies at low interest rate.I offer long and short term loans.My firm has recorded a lot of breakthroughs in the provision of first class financial services to our clients especially in the area of Loan syndication and capital provision for individuals and companies.

We have brought ailing industries back to life and we back good business ideas by providing funds for their upstart. We have a network of Investors that are willing to provide funds of whatever amount discreetly to individuals and organizations to start business and operations. We also recruit Agents to assist our client companies to receive payments for their goods and services. In our bid to be useful to you, please contact us as soon as you can and indicate how this firm will be of very useful effect to you

Looking forward to your reply.
fredrickfinance@googlemail.com
www.fredrickfinance.page.tl

Kind Regards,
Richie Banks

Rep.
Fredrick Financial Agency
P.O. Box 1390, Stn. B, bulham, ON M9L 2W9 Uk.

Re: Great plan, bad credit -- seeking funds

cwgreen09 — Fri, 18 Jan 2008 17:46:43 GMT

Moorg,

that sounds like a good plan.. now only if my personal credit was good enough to back step 4 -- I don't see that happening without fixing my equipment problem of ( not having the right tools for the jobs ) - I mean, I know I am on the right track and good at what we do because a lot of companies around my area are trying to hire us to help them catch up on their editing - in other words they see our talent and we are nice to them and these companies ( our competitors ) are also our clients.

I think we'd be doing pretty well if we had the right stuff. I mean, if we can even make our competitors our clients then that is pretty good. we also have to advertise which is also $$$$$$$

That is why I am wondering about all o fthis, I am trying to:

1. buy new equuipment which will be worther without the next step
2. advertise like there is no tomorrow

If I can do thsoe two at least then all the other things I want to do will fall into place - including having the funds to pay everything back and to fix all of my credit .

thanks Ladies and Gentlemen

Re: Great plan, bad credit -- seeking funds

cwgreen09 — Fri, 18 Jan 2008 17:40:41 GMT

Luckiest,

It is all post house equipment that I am int he need of the most. I just had to turn another company away from doing 30 projects for this coming year because I don't have the proper software and equipment that the projects would have needed. we have the skills to pay the bills but cannot without equipment.

Ouch right?

Re: Great plan, bad credit -- seeking funds

moogrdotcom — Fri, 18 Jan 2008 13:32:07 GMT

As luckiest said, you don't automatically get anything but you have to start somewhere. A Simple "credit plan" may be all you need to leverage your business more than your personal scores/credit.

For example if you build up using an Office Depot / Office Max card that helps you get a D&B and Experian file.

The "simple" form of the process is.

Phase 1:

Get a business phone - make sure its in 411/directory services
Get your EIN
Get your Business Bank/checking
Get your D&B Number - ask for the government bidding number. Don't fall for credit builder.

Phase 2:

Apply for staples card. Fairly easy. Usually 2k off the bat
Apply for Office Depot Card - Ditto
Apply for other "net 30" accounts. Reliable, Uline, Quill, local places
PAY AS SOON AS YOU GET THE BILLS! - Pay early - Pay often. Your D&B Paydex is a scale of how quick you pay your debts. Your experian is similar but includes other secret formulas they don't care about.

Phase 3: - A Month or two after Phase 2

Apply for Gas cards - exxon/shell - usually pretty easy. Revolving like a credit card. Use wisely, PAY IN FULL
Look / Use more of your "net 30" - pay early & on time.

Phase 4: - 3 Months after phase 2 - have to wait for "reporting"

Apply for Citi Platinum Plus, Chase Business, Amex Business - You will have to "PG" these (personal guarantee) but the debt on these is NOT reflected on your personal score.

Phase 4 is important because it is what will finally let you seperate YOU from your LLC more than any other phase. For example during the ENTIRE time you are doing phase 1,2,3 & 4 you should be pulling your credit reports weekly/daily from a service like Amex Credit Secure and disputing any information that is wrong/incorrect and updating any out of datte information. While you're doing phase 1,2,3 do NOT i repeat do NOT apply for any personal credit - you want to save your inquiries for phase 4.

thats the gist of it.. come up with your own plan to scale up and start building your business score. A healthy business score teaches you how to manage your cash flow better and gives you more comfort in knowing what you can succeed.

Re: Great plan, bad credit -- seeking funds

LUCKIEST — Fri, 18 Jan 2008 12:55:53 GMT

As an LLC your company DOES NOT automatically get some kind of credit line. However you can start small
with a Home Depot or Staples Credit Card in your business name. Use them and pay off the balance MONTHLY.
As your COMPANY credit gets established you will them be in a better position to buy new equipment or advertise.
What kind of equipment and how much?? Can you LEASE the equipment and pay monthly??
Again, LUCKIEST

Re: Great plan, bad credit -- seeking funds

cwgreen09 — Fri, 18 Jan 2008 00:39:09 GMT

As an LLC does my company automatically get some kind of credit line that isn't directly related to my personal score? If so what is the best way to establish and use that credit in order to buy new equipment or advertise with? I am working on establishing better personal credit but am in need of business things at the moment that business credit or a loan or an investor ( Angel or other ) - would for certain come in handy with.

I have clients that are starting to pick up since it is the new year and the holidays are gone ( so they know how much they can spend ) -- but not enough yet to get the equipment I need to do what I need to do. Am I stuck?

no co-signer either.

hmmmm BOGGLED

Re: Great plan, bad credit -- seeking funds

moogrdotcom — Thu, 17 Jan 2008 22:42:37 GMT

Your business is an entity in and of itself, there are small steps you can do to grow its own credit worthiness so it relies less upon yours. Being an LLC you should already have the foundation to start building up its own credit. That would be the best place to start. As a business owner your much more succesfull when you can leverage your business in times of need and grow your business in times of expansion and not the opposite. Hard to accomplish in the startup phase, but something you should keep in mind when planning.

I would post all sorts of baby steps by BofA censors competitors here.

Re: Great plan, bad credit -- seeking funds

LUCKIEST — Thu, 17 Jan 2008 00:48:29 GMT

09, In my past life I was the controller of a T V and Film company in N Y.
You should get offers of funds on this website. Lenders or investors want to see
a written Business and Marketing Plan.
Good luck, LUCKIEST