ForumsLoans and Lines of Credit

I have had my business now for six years, but I always delt in cash I never wanted to use any kind of credit, but these days you have to and I want to do it right. My business is located in Toms River NJ. We finish basements and build custom movie theaters, or any kind of fun room you or I can imagine. I have four employees working with me or you can say for me.

new business, SCORE is FREE

SCORE "Counselors to America's Small Business" is a nonprofit
association dedicated to
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growth and success of small business nationwide.

They can help you succeed

because i went from 2000 sq foot houses to 37000 sq foot now. and need more equipment and things you know

Hi Joseph,

You are making the right move. Setting up business credit along with having your company incorporated releases you from personal liability and having to personally guarantee financing. Your company should be its own entity. Unlike personal credit, business credit is considered good debt. When you have trade lines of credit, loans, etc, that gives the lenders a little comfort because they have a point of reference. If you continue to pay cash for everything and pay off debts soon, its hard to track your performance, so lenders aren't as likely to loan or give you credit.

To establish business credit, you do need a Duns number, not the free one. You have to pay for their packages. Your creditors have to be verified by Dun and Bradstreet in order to start reporting them, otherwise nothing is reported. 4-6 trade lines aren't enough to get you to where you need to be. Your goal is at least a Paydex score of 80. Additionally, there are other factors involved to maximize your score. I recommend you contact a professional who can educate you and do this for you. If you need a referral, I'd be happy to connect you with them.

Warm regards,
TJMorehead
www.moreheadsconnections.com

1 there six steps to building your business credit file

• 2 you have to have 5 trade lines*
• 3 business credit works like this:*

scale 1 to 80
this is what raises your score
1 The more trade lines the higher your score
2 activity) your trade lines have to be kept current with activity
1 multiple trade lines shows that your doing business on a larger scale
2 activity on your trade line shows that your doing consistant business
this is what raises your business score
THERES A GUY REALLY HONEST WHO WILL WORK WITH YOU HANDS ON TEACHING EVERY STEP OF THE WAY EVEN SETS YOU UP TO REPORT TRADE LINES, HIS NAME IS BOB, How do i know ?
I AM BOB. 559-765-4440 559-322-1258 www.trade-lines.com
business network
B5 CREDIT BUILDER
FIVE STEPS TO INCORPORATE
FIVE STEPS TO FIVE TRADE LINES IN 30- DAYS

Joseph, look at our home theater chairs at www.laurentleather.com
Capt Cole
cole@laurentleather.com