Small Business Credit Cards Bad Credit

Economy was recovering before the Covid-19 outbreak, and with the new strains of the Covid-19 developing, these are times of uncertainty.   Completely unexpected, Covid-19 took the world by storm and has affected 95% of businesses today, if not more.  Businesses on all levels of financial circumstances are suffering, and our local relied upon businesses are being forced to close their doors.  The bottom line is this: from large corporations to small businesses alike need to secure additional funding to ensure their overall growth.

Unfortunately, it is during this crisis that many business owners have taken a look at their finances and realized that all these years they have relied on their own credit to run their own business. It’s not a surprise since business credit used to take a great deal of time and effort in order to build credit for their business so they can use their business credit profiles (and not their personal credit profiles) to secure equipment for their busines needs, along with brick and mortar locations, buildings, leases, and so on.

In fact, most business owners are unaware of how to even get started building business credit, or how to establish business credit in order to acquire the higher limit business loans and funding that they need, when they need it, along with other sources of unsecured business loans, business credit cards and/or a business line of credit to make it through this crisis.

If you search the Internet and apply for business credit lines without any previous business credit, even if a business owner has been in business for ten or twenty years or more, they have a rude awakening when they find out that they literally have to start all over again and educate themselves on the different ways to build credit for their business.  It’s not surprising, however, since they have been so busy running their business, that it didn’t occur to them that something such as the Covid-19 crisis would ever be a reality short of movies pertaining to international outbreaks.

Twenty years ago - and they are still doing this today, by the way - business owners were forced to open small accounts with net 30 vendors and purchase items they didn’t necessarily otherwise need for their business, in order to get started showing credit worthiness on behalf of their business.  In other words, by simply making small monthly payments on a timely basis over the course of several months with several different companies would take a few years at the minimum to build a strong Paydex score through their newly acquired Dun and Bradstreet business credit profile.

What business owners don’t know about these Dun and Bradstreet profiles is that it takes several “phases” of business credit before one can actually acquire commercial accounts such as gas credit cards and other business credit cards.  It literally takes years of taking “baby steps” when they need the business funding now through business unsecured loans, corporate credit cards, business lines of credit, and other sources of business funding on an emergency basis… today, right now.

If you are like me, and there is any type of “short cut,” in this long, drawn out process and you can buy business tradelines that show a few years of already established business credit that is reported to Equifax, Experian, Paynet and the Small Business Finance Exchange – for instant credit worthiness – I’m in.  Yes, credit can be expensive whether building it through personal or business, credit card interest rates, for example, can be exorbitant, but once you have a little history for your business, you can seek out zero interest business credit cards and after that period of zero interest expires, you can apply for another zero interest credit card and transfer the balance in order to prevent high interest rates.

What I am referring to is pre-existing business credit accounts - so you have already-established business credit which will build your business credit profile going in - before applying for business funding, business loans, business credit cards (or corporate credit cards), unsecured business loans and/or business lines of credit by way of a loan or a business credit card, a business line of credit or other business credit resource – so you have a better chance of being approved.

This short cut is literally purchasing business tradelines, which are basically pre-existing accounts that will post to your business credit profile, such as Equifax Financial accounts, Equifax Retail accounts, Experian accounts, Paynet leases, Dun and Bradstreet accounts, and Small Business Finance Exchange accounts and lines of credit.  These are pre-existing accounts that have history, and you can purchase to report in your business name, ultimately for instant business credit within 45-60 days or so – so you can acquire the help you need.

The cost of these pre-existing business accounts range from packages of accounts reporting to a combination of the above reporting entities that total anywhere from $90,000 worth of business credit all the way up to over $1,000,000 worth of credit packages demonstrating credit worthiness for your business, which should cover most clients’ business credit needs to qualify for what they need right now, and these packages can range from $2,500 on up to $12,500 or more.

Every business owner’s needs will vary, whether they are looking for business credit cards for startups, small business credit cards bad credit, small business loans bad credit, business credit cards, a business credit line, business loan, start up business line of credit or an unsecured business loan… they all require different criteria for credit worthiness to qualify, and we’re here to make your business fund worthy.

If it’s the investment into your business when you want to buy business tradelines from companies such as ours who have business tradelines for sale, or the cost of this investment is what you are concerned with, perhaps you should start slow. Realizing how important it is to start establishing business credit, you’ll realize how important this short cut is and want to learn more about how to buy business tradelines and research companies that have tradelines for sale. However, you’ll want to keep in mind that the “larger the need, the larger the investment.” In other words, $90,000 sounds like a lot, but if you are in need of a half a million dollars to recover from the Covid-19 crisis, you’ll need to scale up the credit you acquire in order to ensure you have the amount of existing credit backing your business to be approved for those levels of future credit.

Business credit is exceedingly time consuming, but if you want or need to build business credit in 30 days or otherwise want to learn how to build business credit fast since it may take 45 to 60 business days, then your research in how to establish business credit is crucial to your success.