What do these people have in common with each other, Donald Trump, Bill Gates, and Magic Johnson? Business Credit! What do good business people do with corporate credit?
· Lease vehicles like BMW, Mercedes, Lexus or Audi with added tax benefits
· Get a Business line of Credit or Small Business loan
· Business Credit Cards for expanded Advertising , Inventory, and other expansion your competitors can’t get
· Protect your personal assets from that of the business by not having to sign, no personal guarantee
· Start over with a new credit file if you need to, instead of just being stuck with your personal credit report
· Start new businesses you always wanted to start with Business Loans
· Separate your Personal Credit From Your New Shiny Business profile
· Get a New Credit Report for every business you start
· Establish business credit that’s good even if you have poor personal credit
Why Establish Business Credit with no Personal Guarantee? To Save Money Of Course:
The biggest advantage of having any credit whether it be personal credit or Business credit is to help you save money on loans, car loans, business loans , and a host of other things we can mention; by obtaining a more favorable credit report score you will lower the interest you pay on loans and leases.
For example:
Business loan Average or No Credit Score Good Credit Score
Loan Amount $60,000 $60,000
Length of loan 10 years 10 years
Interest Rate 12% 8%
Payment $889.60 $665.64
INCREASE your working capital DESREASE your expenses
IT’s all about CASH FLOW!
