Pat Gage Reveals the Real Key to Business Funding Success at a Metro Detroit, Michigan Event

A formula emerges that systematically and predictably puts unlimited capital into your pocket

Detroit, MI — Many real estate investors and business owners are suffering in today’s economy. Some are closing down, others face bankruptcy, because they do not know how to get the capital needed to operate or expand their business. They spend time and money on application fees, phone calls, letters, etc… and just end up frustrated and closer to being broke.

Pat Gage, the Opportunity Creator, went through this too; he nearly went bankrupt, spinning his wheels to obtain the financing needed to run his business. He attended seminars and purchased materials from others who were successful. He networked with others to learn how they managed to finance their business ventures. Through this experience, Pat stumbled upon several key answers, from which he developed his own program. Now he has all the financing he needs, and much more. “Investing in businesses in one way lending institutions make their living, so they want to make loans. They’re calling me, eagerly offering to finance my business,” says Gage.

Pat Gage was the featured speaker at the Mega Evening Event, in Livonia, where he shared his secrets and tips for obtaining business lines of credit and unsecured loans. He explained how to properly set up a business and the importance of keeping it separate from one’s personal assets. Even the naming of a business can create red flags as Pat explained.

The program Pat introduced incorporates the tools needed for setting up a corporation correctly, knowing all the business and licensing requirements, understanding the IRS requirements, setting up a Dun and Bradstreet business credit profile, creating the business vendor or trade credit accounts, acquiring unlimited unsecured business credit cards, transferring balances to improve a credit profile, understanding and using leasing credit, and obtaining unlimited unsecured business lines of credit, and learning how to lay the groundwork for future requests—getting more capital than anyone could even imagine for their business.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com/

Pat Gage-Nationwide-Business Lines of Credit

So there you are – you’ve done all your research, scoped out the competition, found your marketing niche, and spent countless hours planning precisely how you’re going to open, then operate your business.
It looks like a slam-dunk, except for one tiny problem – you need a bunch of cash to turn your dream into reality. Sure, you’re willing to put in as much as you can as far as time and effort. Maybe you can hit up your rich Aunt Gertrude for a few bucks. But, you still may need additional cash to get your business up-and-running.
What to do, and where to go to do it? Starting a business cash-poor is the quickest way of having that business cash you out – right on your ear. That will make neither you, nor Aunt Gertrude, very happy. So, you put on your, I-Need-A-Business-Line-Of-Credit hat and do a little thinking. Voila! The light goes on and blinks the word “Bank”. Halleluiah! Let’s open the doors and get this business rolling!
Or not. Stopping in to see your friendly neighborhood banker for a business line of credit takes a little more than shinned shoes, and an honest, open smile. That might have cut it with Aunt Gertrude, but your Business Loan Officer will be a bit more demanding. The Business Loan Officer is going to want to have a serious discussion about your business credit profile. This will help him decide your creditworthiness as a business. And that, not incidentally, is going to bring up the question of how you create one in the first place!
First, it’s essential that you separate your personal credit from your business credit. Reason? Personal credit is for your household expenses and business credit is to start, or expand your business. Your business will need more money than your household. If you use your personal credit to fund your business you could seem overextended to the banks and could be declined for any personal household credit needs, such as a new house or car.
How do you do this? Actually it’s simple. All you need to do is incorporate your business. There are several different entities to choose from, C or S-Corporation, or LLC (Limited Liability Company). That makes your business a self-sustaining entity, and takes away any personal liability.
. Next, Uncle Sam is going to require that your business have a Federal EIN, which is like the social security number for your business. Then, a separate bank account under the business’ name is required. And of course, you’ll need to comply with all local regulations regarding permits, licenses, etc. Naturally, you’ll have to get a business phone number (not a cell phone). You can use your cell phone as a secondary line but the banks will check to see if your business phone number is a land line in your business name corresponding to the physical address you have given as your business address. Now your physical address could be your home. If you do indeed work from home, that’s okay. The important thing is that all of your business information is consistent.
The last step will be establishing a business credit profile with Dun & Bradstreet and the other business credit bureaus. These are the premier credit rating company’s that all banks turn to. To do this, you’ll need to get several business vendors who’ll extend you a small amount of credit. Pay those bills promptly, and those vendors can then be used as credit references. They will be reporting your payment history so the banks can check your business credit.
Getting that first business line of credit isn’t rocket science. It just takes a little bit of work, and a lot of attention to detail.
Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

RECEIPT FOR Disaster - MIXING YOUR BUSINESS FINANCES WITH YOUR PERSONAL FINANCES

One of the most common business mistakes I see many small business owners and entrepreneurs make, is commingling their business and personal finances. The result can often be catastrophic. And for the most part, small business owners aren’t even aware of the implications. How so? Glad you asked.
In a word, “credit”. In two words, “bad credit”. This phenomenon usually manifests itself when the business owner applies for credit to buy a car, or even get a mortgage. That’s when the big, red, rubber stamp slaps down, “rejected” on his/her file. Or, when the dunning phone calls from business creditors become more frequent than calls from Aunt Sadie, who has nothing better to do than phone several times a day.
The result of all this commingling of credit can often result in two of the ugliest words in the English language – “bankruptcy” and “lawsuit”. Unfortunately, many small business owners don’t even see it coming.
How can something like this happen? Most often it’s because the small business owner used personal funds to either launch, or finance the expansion of their business. This can involve using personal credit cards, even taking out a Home Equity Loan or Home Equity Line of Credit. This commingling pierces the corporate veil, which opens you up personally to lawsuits. The money goes into the business on the premise that the business will pay it back. But, whoops!, when sales go down, and the business can’t afford to make the payments, it all comes home to roost. Unfortunately.
The best thing is not to get into this situation in the first place, but many small business owners and entrepreneurs are unaware of how they can establish a separate business credit profile. And this can often result in unfortunate consequences. If they only took the time to investigate how to do it, it could save them untold grief later on. But how does a small business do this?
Establish sound business financial practices from the outset. Make certain that when you plan your entrance into the small business arena, you do so both carefully, and realistically. Start establishing your business credit profile immediately. Set up your corporation (C or S-) or LLC (Limited Liability Company) properly. Next go to the IRS website and get your EIN for your business. This is like the social security number for your business. Set up your business bank account, with the same address you used for your legal paperwork to the state and government. Make sure that address is a physical address and not a P.O. Box or UPS store. Next is your business phone number and fax. Make sure this information is consistent and accurate. Make sure your business phone number is listed in the 411 National Directory Assistance with your physical business address. Create a business credit profile on your own or through Dun and Bradstreet.
Get your business familiar with Vendors that are in your business arena and get credit with them right away. Take the long-term view as to what you need to keep operating at a high level. Next, you need to pay your vendors promptly – very promptly, even if it means skipping your own salary at times (yes, this happens and you should plan for it). You’d be surprised, however, at how quickly your business credit profile will look rock-solid to a Business Loan Officer. And the better it looks, the better your chances of getting several unsecured lines of credit, which is exactly what you want.
There are many pit falls to starting or expanding a business, but commingling personal and business credit, and finances is one that should be strenuously avoided at all cost. And remember, be realistic about what you need – not what you want!
Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

Obtaining Business Lines of Credit To Fund Your Business

Let’s say your business needs a capital infusion. Things are going well, but you need extra cash to expand, hire new employees, make improvements, increase marketing – whatever. Where do you turn to get the cash you need? Can you leverage your business to fund your goals? And how do you do it? Actually, there are more ways of getting funding than you probably thought.
Assuming your business is in good shape, pays its bills promptly, has a good cash flow, and is professionally managed, you have a lot of options. You can probably narrow down the list by scratching off Venture Capitalists and Angels. The former are only interested in lending you money if you plan to go public at some point. Angels (not the celestial kind!), might be interested if you have a lock on the, “next big thing,” but only if the payoff is calculated in the tens-of-millions of $$. You may not be quite there yet.
What does that leave? One valuable option is to start creating a business credit profile for your business. Creating a business credit profile can be done easily and can offer any number of business loans, from Working Capital, to Lines of Credit, to Construction, to Term Loans, to even business credit cards. If you already have a good working relationship with your Business Loan Officer, this is probably the first place to look, once you have your business credit profile in place. They know you, and you’ll be able to skip much of the red tape. This makes sense a lot of the time. But hold on! You have quite a few other options available.
Business credit cards, for example. All major business credit card companies have branched into commercial lending. Obtaining cash from this method is usually easier than other sources. However, this method of financing still needs an established business credit profile. Because lending institutions don’t lend money to sole proprietors. That’s called a personal loan. This is one option to be considered. Business credit cards can be useful in many ways and have reasonable interest rates as well. Once you have established your business entity, you will be receiving numerous offers from business credit card companies to apply. This is a great way to have access to capital. Remember that your business credit cards do not show up on your personal credit report. So any business debt that appears on your personal credit can be transferred to your business credit card, freeing up your personal debt to income ratio. This will increase your personal credit score almost immediately. Many times the credit card companies will offer 0% interest for a limited time (I’ve seen up to one year), then have a reasonable interest rate afterwards (anywhere from 8-14%). That’s far better than a hard money lender or private lender.
Then there’s unsecured lines of credit. The objective is to stimulate micro-enterprises and provide unsecured loans of up to $50,000 to small businesses. You can apply for unsecured lines of credit through your bank or many other institutions that offer them. Once again your business credit profile will need to be in place. Typically, an unsecured line of credit has an interest rate of Prime plus one or two points, depending on some factors that are taken into account. But the bonus here is that the money is unsecured which means you don’t have to put up any collateral for it. This type of lending does not require any financial statements as well. This gives you flexibility especially if your business doesn’t have a great cash flow yet. This is a great method for obtaining capital for your business whether it’s to expand, advertise, or market a new idea.
Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

Start Business with Lousy Credit? Pat Gage, Denver, Colorado

You may be trying to start a business, or have one that’s in its initial stages. Your idea is great, your plan is flawless, and your product or service is ready for the fast lane. Only problem is, that super-charged, can’t-miss-small-business of yours is sitting by the side of the road. It’s stuck, and it’s out of gas.

The analogy may not be great, but if you’re in that type of situation, you know what it’s all about. Your personal credit rating is less than stellar. You found out just how bad, when the bank’s Business Loan Officer gave you a look of horror when you told him what you wanted to borrow, and why.

Let’s face it, he probably couldn’t wait to get you out of his office fast enough. Is there anything you can do to jump-start this situation? Yes there is. In fact, there a number of avenues you need to explore.

First things first. There are three credit reporting agencies, Equifax, Experian and TransUnion. You want to get your tri-merge credit report, which is a report from all 3 credit bureaus. Once you get them in hand, you’ll have a clear idea of exactly where you stand – and just as importantly, why.

Review each and every report. Look for errors, because (guess what), the credit bureaus do make them. Maybe a bill they’re reporting as unpaid, involved a dispute. Maybe a credit card purchase wasn’t yours. If you find any glitches, report them immediately to the credit bureau involved. You can also enlist the services of an established credit repair company, if you’re not sure how to handle the disputes yourself.

Creating a business credit profile can also be an answer to your credit issue. By creating a business credit profile, you can start establishing credit for your business, which is separate than your personal FICO score. Establishing a business credit profile can help you get your business started while working to improve your personal FICO score. Once you establish your business credit profile your business can start applying for business credit cards and other types of business financing.

But, when you get business credit cards, keep your personal and business credit separate – very separate. Many folks fall prey to the temptation of using business credit cards for personal expenses. This is more than a red flag to business lenders, it’s a giant red balloon. Commingling your funds can cause many problems for your accountant and attorney. When you commingle your personal and business funds, you open the door to lawsuits and your bookkeeping becomes a nightmare.

Business credit cards can be a great source of financing. One misconception is that business credit cards have a high interest rate. This just isn’t true. Many business credit cards fall in the interest rate range of 8-14%. But more importantly remember this; it’s not always the cost of money that’s important, but the availability of money. Wouldn’t you like to have an extra $30,000, $50,000, or even $100,000 right now to start or expand your business? Make sure you are diligent about making payments on time and, two things will happen: First, the credit card company will court your business, and probably offer you a credit line increase. Second, your credit standing will improve with the bank. Bank’s love it when you’ve demonstrated the ability to pay off a loan – even if it’s not theirs.

Finally, make certain that you use your credit wisely, and strictly for the business. And more importantly, to improve the business – new equipment or hiring employees, marketing, whatever it takes. This will show a Loan Officer that you’re serious about what you’re doing, and will make you a more attractive loan candidate.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

The Information that Banks will need for Business Credit Lines

Getting a business credit line from a bank isn’t the easiest thing to do – especially if you’re a start-up. Seed money, working capital, and other forms of loans, require that you pass a series of credit related checks.

So what do banks look for, and what can you expect? We’re going to tell you.

High on the list of establishing business credit is, of course, your personal credit history. No surprise there. If you’re a start-up, lenders will be looking at your personal credit. Banks won’t want to see late payments, missed payments, liens or a bankruptcy. The negative impact of these, and other credit deficiencies could have a substantial impact on your loan request. A late payment, here or there, won’t kill your chances, but if there’s a pattern of late payments, it very well could. If, however, you have a good explanation as to why these credit deficiencies exist, your chances of approval could increase. It’s probably a good idea to check your personal credit reports to clear up any possible discrepancies that could adversely affect your application. If your business is a start up, you may need to use your personal credit in the beginning, and while you’re doing that you can begin to establish your business credit profile as well.

But let’s say you’re already in business, and haven’t established a business credit history yet. Now it’s your business’ credit that comes into play. Dun and Bradstreet, Experian, and Equifax are often the sources the banks will turn to when reviewing your business credit reports, including history, public record information, company background and supplier payment history. Whether you’ve been in business one day or 10 years, if you haven’t established a business credit profile, then your business is still at Day One. But it’s never too late to get started. If you’re a start-up, the bank is going to look for some solid financial projections. Remember the projections you use, are based on the assumption that you’re going to get the financing needed. Work with a financial specialist to put your numbers together. The money you spend on a financial consultant will be well worth it, and the bank will appreciate your professionalism.

If you’re already in business, the same applies. But now you have real figures to present to the bank. Assuming that they’re good, that should be it, right? Wrong. The bank is going to want to see what you want the loan for. Working capital, expansion, new equipment are always good. A loan to take your top producers for a rewards week in the Caribbean is not.


Collateral doesn’t have to come into play when you apply for business credit. Why is this? Because the banks lend business lines of credit without it. They’re called unsecured credit cards and unsecured lines of credit. These are great avenues for any business that perhaps doesn’t have the business collateral. It’s never a good idea to use personal collateral to fund your business. The banks will generally lend up to $50,000 without collateral on these types of loans. The banks do require a strong business credit profile and sometimes a good personal credit profile and these can be easily established and obtained. Lenders know that there’s a strong correlation between your commitment to your business and the loan being repaid.

In the end, getting business credit is all about the figures. Do they or don’t they work. If they do, and if you present your case in a straightforward manner, you’ll put your business in the best light, and in all probability, get the loan. Always remember that the bank wants to lend you money. It’s up to you to show that you can repay the loan.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

Business Credit Cards: Pat Gage, Pittsburgh, Pennsylvania

To any business, either a start-up or established, business credit cards can be very valuable financial tools if managed properly. Remember also, that because they’re business credit cards, they are unsecured and do not report on your personal credit report. Which means there is no collateral tied to them. Great benefit!! But if used improperly, it can have a devastating affect on your business’ credit profile, and hence, your business itself.

Managing your business credit cards doesn’t require an MBA from Harvard, or a financial specialist looking over your shoulder every time you plunk it down. But it does require careful monitoring, and plain old common sense. Here are a few tips you can use to get the most from your business credit cards:

· Always apply at your primary bank first. Why? Because you’ve already established a banking relationship which can pave the way for an easy application process. In short – they know you. Once you get the business credit cards, and pay them in a timely manner, it will increase your credit worthiness in the eyes of the bank. This will be of significant help when you apply for additional business lines of credit later on.

· Never co-mingle your business credit cards with your personal credit cards. However, here’s a little secret to the game. If you have business debt on your personal credit cards, transfer balance the debt to your business credit card and this will immediately improve your personal credit score by lowering your debt to income ratio. This is a huge benefit of being a business owner.

· Once your business credit is established, you’ll be deluged by special offers from credit card companies on a daily basis. When you’re invited to apply and the offer is good, then apply. Remember this: Just because you have applied and received a business credit card, doesn’t mean you have to use it immediately. It’s always a good idea to have extra “Rainy Day” money available. Every business goes through ups and downs and having the money available can be invaluable during one of those down times. It’s always easier to get money when you don’t need it.

· By all means, use the grace period when paying your business credit cards. Most providers of business credit cards offer a 21-day grace period before payment is due. This can be a big help in improving your cash flow, and it’s built-in for you to use. Don’t abuse it, and don’t pay later than the grace period deadline, however.

· Like many business transactions today, you can pay your business credit card bill online. This may not sound like such a big deal, but when you think of the time and effort it takes to write out and mail a check, it’s really a good deal. Especially since the mail can sometimes be unpredictable. Knowing you can choose the exact date your bill is paid, is priceless.

· Do not pay your credit card bills late! Yes, take advantage of the grace period, but paying late, especially if it develops into a habit, will end up costing a lot more than the actual bill. Late fees will bring about higher interest rates. But more importantly, late payments will go straight to your business’ credit profile – and you don’t want it there, especially if you plan on trying to get a line of credit from your bank or lender in the near future. Pay the bills on time, if possible.
Finally, always remember that your business credit card can be a very effective tool in managing your company’s finances. But like any tool, if handled improperly, it can cause irreparable harm – in this case, to your company’s business financial profile. Use it wisely!

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

Business Lines of Credit with Bad Credit? You better!

It shouldn’t come as a surprise that banks are more than willing to loan money to people with good credit, but shy away from those whose credit is less than perfect. Does that mean the loan you need for your small business is doomed? Not necessarily, because bad credit financing does exist.
First, there are other lenders out there who will, and they generally come in two forms – wealthy individuals (often local) who will make loans to local businesses. Uncovering them may take a bit of detective work, but they certainly are there. Then there are firms that specialize in small business loans to those whose credit is shaky. There are hundreds of them across the country, and they can easily be found on the Internet. But just because they’re there, doesn’t mean they’ll automatically approve your loan. Far from it. You have to persuade them that you’re a viable candidate, and to do that is going to require some work.
Here’s what you do: The very first step is separate your bad personal credit from your business credit. This is very, very important. You can do this by forming a corporation (S or C) or an LLC (Limited Liability Company) and applying for an EIN (Employer Identification Number). This allows you to begin establishing a business credit profile that’s completely separate from your personal credit. It’s like starting with a totally clean balance sheet.
The next step is fairly obvious. You have to build a strong business credit profile. That means finding suppliers who will report your payment history to the business credit bureaus-Dun and Bradstreet, Experian, and Equifax and making sure you are paying your suppliers on time, and adhering to other sound business practices. Make sure all your business information is correct and consistent with all of the business credit bureaus. Also, bring in a good financial consultant to prepare financial statements for your company. Any potential lender you contact is going to want to see a strong, professionally prepared financial statement. Even if your business is a start up you can still put together a financial statement with projections. This is acceptable to most any lender. Remember that you’re asking for unsecured lines of credit, which means you don’t have to use assets for collateral. Don’t even think about trying to do this yourself. Really!
And, of course, there’s still the problem of your personal credit situation. Even though you separate it from your business, it’s not going to go away, and will still be a factor in many lender’s decision process. You’re going to have to show that you’re making progress in rectifying the situation. This includes your ability to explain why and how your bad credit happened, and what steps you’re taking to remediate it. So pull your credit from all 3 credit bureaus-Experian, Equifax, and Trans Union and review it. If you’re unsure how to read them, enlist a credit repair company to assist you. Lenders want to see that you’re making an honest effort to correct past mistakes and avoid them in the future.
Essentially, it’s important for you to know that there are lenders out there (many in fact), who are willing to loan your small business money, even if your personal credit is pretty suspect. These companies, and individuals, make their money by making exactly these kinds of loans. It’s their business. Their specialty. It’s what they do. They want to loan you the funds you need. But it’s up to you to put in the effort and make the case that your business is worthy of the line of credit you seek. Remember, the lender is only looking for one thing: Your ability to pay back the loan.
Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

Small Business: Credit Options, by Pat Gage, Phoenix, Arizona

Credit – it’s probably one of the most important business tools your small business can have. In fact, it’s not only important, but essential. You need it to grow your business, take advantage of equipment and supply sales or leasing, expansion, and a thousand other things.
Most of the time, a small business doesn’t generate enough capital to supply all its needs. So when opportunities knock, savvy business owners turn to the credit market to take advantage and stay ahead of the competition. But what kinds of credit are available to the small business entrepreneur, and what types are best for his/her needs?
There are many types of credit available to business owners with realistic needs. Some secured, some unsecured. Having multiple credit sources available allows a business to pick and choose which one is the best for any given situation. And since no two businesses are alike, it makes sense that different businesses will benefit from different types of loans.
For many small businesses Unsecured Lines of Credit work well. An Unsecured Line gives the owner a lot of flexibility. You use only the amount of money you need, and can hold the rest in reserve. This can be a big plus, because since you’re only using what you need, your payments are smaller. This helps cash flow, since interest payments are only made on the outstanding balance. No collateral is required. That means no personal property or real estate is pledged against the credit line.
Unsecured Lines of Credit have interest rates starting around Prime and go up from there depending upon various underwriting requirements instituted by the bank. Some of these requirements are easily obtainable and some are a little more challenging. It’s best to be prepared when applying for any type of business loans.
Small Business Loans are the most common source of small business financing, after credit cards. There are a number of sources of small business loans, and with good credit, they’re generally not difficult to get. Some of these loans (SBA, eg.) are secured by the government. Result? Interest rates may be lower than conventional loans. They also can carry long repayment requirements which can be a big help with cash flow.
Straight bank loans (not government backed) can be very challenging to get, especially for a start-up. Unless your business has spotless books, and a solid track record over a period of years, or good financial projections for your start up that are created by a professional adviser, this is probably not a good loan to apply for.
Credit Cards are a great source of credit for small businesses. They can be used for everything from gas, to equipment/supply purchases (depending on the amount of your line). Credit Cards give you flexibility second to none, require no collateral, and give you an excellent way to track expenses.
One type of credit that generally gets little thought, but can be a significant player in fattening your bottom line, is Vendor Credit. This type of credit has a number of advantages: It’s free, unsecured, readily available, and easy to qualify for. And it can only be used for buying from the vendor’s products.
As with personal credit, there are a variety of credit sources and options available to small business entrepreneurs. As with any major decision, it’s always best to consider all the options, compare the benefits against the cost, time and effort involved. In some instances you may find that a combination of credit sources may work best for you. In others, just one.
Whichever way you decide to jump, properly used credit can be a huge boost in growing your business, and your bottom line.
Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

How to Start a Business with Less than Perfect Personal Credit

So there you sit. You have great plans for a great new business – a sure-fire winner. But there’s a problem. You’re pretty sure your personal credit is less than perfect. Well, actually you know it’s in the dumpster. End of dream? No, start of a plan to get this ship out of dry dock.
Here’s what you have to do:
Find out what your credit score is before you approach any financial institution about a loan. Maybe it won’t be as bad as you think, but you won’t know unless you check it out. That means getting your report from all three of the major credit-reporting bureaus – Equifax, Experian or TransUnion. This way you’ll find out exactly where you stand.
There’s another benefit here as well. It’s possible your report may contain errors – a late payment, for example, you know you made on time. Or a claim of a missed payment, when you have the canceled check to prove it was paid. Errors do occur, and if you find any, now is the time to get them corrected, before you go out looking for business funding.
But let’s say that after checking your credit report, you determine that it’s correct, and yes, your credit comes up less than stellar. What do you do then? Get moving!
One thing potential lenders really dislike seeing is late or missed payments. If you had a good reason for that error (family emergency, out of country, hospitalized, etc.), write a letter of explanation to the credit bureau. It’s possible you could get it lifted from your report. You could also enlist the services of a credit repair company, if you don’t know where or how to start. And those high interest credit cards you’ve been carrying balances on? Pay them down to 30% of the credit limit as quickly as possible.
And a word about credit cards: Those colorful little pieces of plastic you’re carrying around are probably worth thousands in credit. If you’re like most folks, the temptation to use them to pay for less-than-necessary items (do you really need another flat screen TV?) could be a problem. If you can’t control your personal spending, do you really think a loan officer will think you can control your business spending any better? No! It really isn’t that hard to do, and whatever credit problems you might have, can be overcome by good financial management. You can do it if you want to.
Straighten out your credit problems well before going to any bank. While loan officers look fondly on borrowers with excellent credit, they also appreciate those with less-than-perfect credit who have recognized and corrected the situation. It says a lot about you and your worthiness to receive a loan. The key is to start establishing your business credit so that your personal credit doesn’t become as important. You should start doing this immediately, even if your business is a start up. There are lenders that will loan to start ups as well as established businesses but you must have your business set up correctly as a business and not as a hobby. You can work from your home and still be a legitimate business as long as all your documented information (EIN, State filings, business licenses, business phone number and address) is consistent. This is the key to unlock the doors to business funding.
And finally, one last word about credit: Once you do get your lines of credit or business credit cards, never, ever think about co-mingling your business and personal credit. Keep credit cards separate, as well as bank accounts. The temptation can be awfully strong to co-mingle, but it’s a path you don’t want to go down.
Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

How to Get a Business Line of Credit-Detroit, Mi

Good for you! You were able to get that all important 1st loan to start your fledgling business. Now you’re up-and-running, business is humming, and things are looking rosier than a horticultural shop in May. Time to sit back and smell those roses? Not quite. You’ve gone from working 10 hours a day to 12. You need money for expansion, marketing, people. You need to go back to the bank. But since you’ve already been successful once, you shouldn’t have any problem getting a second loan, right? Should be a snap!

Well, maybe not quite that easy. Because your loan officer is going to look at you just as hard the second time around as he/she did the first. There are no free passes when it comes to getting credit, so you better be prepared to look good.

Here’s how you do it:

· First and foremost, make sure your business credit is in good shape. That means that all business credit cards have been paid in a timely manner, as well as bills from suppliers, utilities and the like. To find out how you stand, check with Dun & Bradstreet. They keep tabs on virtually all small businesses, and will have a record of your payment performance. If by some chance, there’s a blot on your record, find out what it is. You can be certain your loan officer will want to know what’s it’s all about. It’s up to you to make sure it can be explained, or better, removed before you apply for a loan. Don’t have a Dun & Bradstreet credit profile? Get signed up as soon as possible. A Dun & Bradstreet credit profile is the best way to get your business credit on track and supercharge your business with vendors and lenders. This demonstrates to the banks that your business is a real business and not “in a van down by the river.”

· Ask for more than you actually need. It may sound scary, but remember you only use it as you need it. That’s the beauty of unsecured lines of credit. Yes, bigger loans mean bigger payments, but remember you only pay on what you use. This is about getting the right amount of unsecured lines of credit so that you don’t necessarily have to go back to the bank anytime soon. Applying for too small a loan can be just as dangerous as applying for too big a loan. Because then you have to keep going back. If you ask for the right amount then it will sustain your business for a little longer.

· Clear up your personal credit if you have any problems. Your credit was probably pretty good when you were granted your first loan, but if for some reason it’s taken a hit since then, you’d better clear it up – and fast! Even though your business may be booming, lenders know that personal credit problems could carry over to your business down the road. That means getting your report from all three of the major credit-reporting bureaus – Equifax, Experian or TransUnion. This way you’ll find out exactly where you stand.

· Anticipate, organize and be prepared when you make your loan application. Sounds simple enough, but have your financial consultant prepare an interim financial statement, incase the banker asks for it. However, remember that you are applying for unsecured lines of credit so you don’t have to put up your business or personal assets for collateral. In short, anything that will make you look more professional and prepared in the eyes of your lending officer, but don’t offer it if they don’t ask for it. The fact that you’ve prepared this material means less work your lending officer. Nothing wrong with that scenario!

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Pat Gage’s site at http://www.10stepstomoney.com

Pat Gage Shares How to Raise Business Lines of Credit in Detroit, Michigan

So there you are – you’ve done all your research, scoped out the competition, found your marketing niche, and spent countless hours planning precisely how you’re going to open, then operate your business

Detroit, MI—Pat Gage, the Opportunity Creator, was recently interviewed. He explained the steps to take when applying for business lines of credit for financing a new business venture. Pat explained that family and friends are good sources for investing some start up costs, but it might not be enough

Pat discussed what one needs to prepare when they go to visit their banker for a business line of credit. It is important to show the lender experience and knowledge in the business one is going into so the lender is assured that his note payments will be paid and he will get a return on his investment. Pat shared how the business loan officer will want to go over the business credit profile to help him decide the applicant’s credit worthiness as a business. Pat also shared tips on creating a business plan and credit profile.

Pat explained how important it is to separate personal credit from business credit. Personal credit is for household expenses and business credit is to start, or expand a new business. Using personal credit to fund a business will make one appear to be overextended to the banks resulting in the lender declining personal credit for household needs, such as a new house or car.

Gage shared a lot of information on how to incorporate a business. There are several different entities to choose from, C or S-Corporation, or LLC (Limited Liability Company). That makes a business a self-sustaining entity, and takes away any personal liability. Each type of corporation is structured differently, depending on the individual needs of the business. Each has its own tax advantages too.

Pat also explained that a business needs to have a Federal EIN, which is like the social security number and a separate bank account under the business’ name. He went on to cover the need to comply with all local regulations regarding permits, licenses, etc. The banks will require a business phone number (not a cell phone). They will verify that the business phone number is a land line in the business’s name corresponding to the physical address given as the business address. The important thing is that all of your business information is consistent.

Pat finished up with the last step which is establishing a business credit profile with Dun & Bradstreet and the other business credit bureaus. These are the premier credit rating company’s all banks turn to. To do this, one needs to get several business vendors to extend a small amount of credit to be repaid promptly, so those vendors can then be used as credit references. They will be reporting the payment history so the banks can check on business credit.

Getting that first business line of credit isn’t rocket science, but it does take a little work, and a lot of attention to detail.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com


Contact Pat Gage, the Opportunity Creator to your business success:

Destiny Now, LLC33006 7 Mile Road Suite 423Livonia, MI 48152Phone: 734-261-0688Toll Free: 877-262-0688Fax: 734-422-6168
Email: info@opportunitycreator.com

Pat Gage and Business Lines of Credit in Los Angeles, California

The Opportunity Creator explains the importance of keeping business and personal finances separate

Los Angeles, CA--One of the most common business mistakes made by business owners and entrepreneurs is commingling their business and personal finances. The result can often be catastrophic. And for the most part, small business owners aren’t even aware of the implications.

I had an opportunity to talk to Pat Gage, the Opportunity Creator, the other day and he had a lot to say about protecting your personal assets by keeping business finances separate. Business owners applying for a personal loan, for home improvement or a new car for example, are often turned down due to appearing to be overextended with business expenses.

Pat told me, “The result of all this commingling of credit can often result in two of the ugliest words in the English language – “bankruptcy” and “lawsuit”. Unfortunately, many small business owners don’t even see it coming.”

Pat went on to explain that often the small business owner will use personal funds to either launch, or finance the expansion of their business. This can involve using personal credit cards, even taking out a Home Equity Loan or Home Equity Line of Credit. This commingling pierces the corporate veil, which opens him up personally to lawsuits. The money goes into the business on the premise that the business will pay it back. But when sales go down, and the business can’t afford to make the payments, it all comes home to roost.

Pat explained how not to get into this situation in the first place, but many small business owners and entrepreneurs are unaware of how they can establish a separate business credit profile. And this can often result in unfortunate consequences.

There are many pit falls to starting or expanding a business, but commingling personal credit and business credit, and finances is one that should be strenuously avoided at all cost.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

Contact

Destiny Now, LLC33006 7 Mile Road Suite 423Livonia, MI 48152Phone: 734-261-0688Toll Free: 877-262-0688Fax: 734-422-6168
Email: info@opportunitycreator.com

Pat Gage-Dallas, Texas-Presents a System for Getting Capital for Business Funding

Does your business needs a capital infusion? Pat Gage, the Opportunity Creator has a system for getting the funding a business needs

Dallas, TX—Assuming a business is in good shape, pays its bills promptly, has a good cash flow, and is professionally managed, there are many funding options.

According to Pat Gage, one valuable option is to start creating a business credit profile for the business. Creating a business credit profile can be done easily and can offer any number of business loans, from Working Capital, to Lines of Credit, to Construction, to Term Loans, to even business credit cards. If a business owner already has a good working relationship with their Business Loan Officer, this is probably the first place to look, once they have their business credit profile in place.

Pat Gage recommends business credit cards, for owners. All major business credit card companies have branched into commercial lending. Obtaining cash from this method is usually easier than other sources. However, this method of financing still needs an established business credit profile, because lending institutions don’t lend money to sole proprietors. Business credit cards can be useful in many ways and have reasonable interest rates as well.

Pat explains how business credit cards do not show up on a personal credit report. So any business debt that appears on a personal credit card can be transferred to a business credit card, freeing up one’s personal debt to income ratio. This will increase the personal credit score almost immediately. Many times the credit card companies will offer 0% interest for a limited time (sometimes up to one year), then have a reasonable interest rate afterwards (anywhere from 8-14%). That’s far better than a hard money lender or private lender.

Pat’s program also covers unsecured lines of credit. The objective is to stimulate micro-enterprises and provide unsecured loans of up to $50,000 to small businesses. One can apply for unsecured lines of credit through their bank or many other institutions that offer them. Typically, an unsecured line of credit has an interest rate of Prime plus one or two points, depending on some factors that are taken into account. But the bonus here is that the money is unsecured which means there is no collateral requirement. This is a great method for obtaining capital for a business whether it’s to expand, advertise, or market a new idea.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

Contact

Destiny Now, LLC33006 7 Mile Road Suite 423Livonia, MI 48152Phone: 734-261-0688Toll Free: 877-262-0688Fax: 734-422-6168
Email: info@opportunitycreator.com

Pat Gage Talks about how Starting or Expanding Business with Bad Credit is Possible

The secret is keeping a separate business credit profile—the business has its own FICO score, separate from one’s personal credit score

Denver, CO--Many budding entrepreneurs with great ideas do not get their business up and running because of a combination of bad credit and no capital. According to Pat Gage, this doesn’t have to be a show stopper.

Pat explains there are three credit reporting agencies, Equifax, Experian and TransUnion, from which one can get their tri-merge credit report, which is a report from all 3 credit bureaus. Pat says to review each report and don’t be surprised if errors are found. Report the errors immediately to the credit bureau involved.

Pat strongly recommends creating a business credit profile, separate from personal credit, to establish the business FICO score. Establishing a business credit profile can help get a business started while working to improve one’s personal FICO score. Use the business credit profile so the business can start applying for business credit cards and other types of business financing.
Pat Gage stresses the importance of keeping personal and business credit separate – very separate. Many folks fall prey to the temptation of using business credit cards for personal expenses. This is more than a red flag to business lenders, it’s a giant red balloon. Commingling of funds can cause many problems for the accountant and attorney. Commingling of personal and business funds opens the door to lawsuits and bookkeeping nightmares.

Business credit cards can be a great source of financing. One misconception is that business credit cards have a high interest rate. This just isn’t true. Many business credit cards fall in the interest rate range of 8-14%. But more importantly remember this; it’s not always the cost of money that’s important, but the availability of money.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

Contact

Destiny Now, LLC33006 7 Mile Road Suite 423Livonia, MI 48152Phone: 734-261-0688Toll Free: 877-262-0688Fax: 734-422-6168
Email: info@opportunitycreator.com

Pat Gage Presents a System for Obtaining Business Credit Lines-Indianapolis, Indiana

Getting a business credit line from a bank isn’t the easiest thing to do – especially if you’re a start-up. Seed money, working capital, and other forms of loans, require that you pass a series of credit related checks.

Indianapolis, IN—Pat Gage attended a meeting recently where he ended up being the center of attention. Everyone listened intently as he explained his system of getting business lines of credit. He told investors what the banks were going to look for and what to expect out of the application process.

High on the list of establishing business credit is, of course, personal credit history. If a new business is just getting started, lenders will be looking at one’s personal credit. Lenders do not want to see late payments, missed payments, liens or a bankruptcy. The negative impact of any credit deficiencies could have a substantial impact on a business loan request.

One of the investors who knows Pat well, asked, “But Pat; you always stress the importance of keeping business credit separate from personal credit! This doesn’t sound like you all.” Pat explained that a new business needs to use personal credit, but that it is very important to develop a business credit profile quickly and get a separate FICO credit score for the business. The business must stand alone as a separate entity.

Since everyone was so interested in what Pat was saying, he went on to explain about establishing a business credit history. Dun and Bradstreet, Experian, and Equifax are often the sources the banks will turn to when reviewing the business’ credit reports, including history, public record information, company background and supplier payment history. Whether one has been in business one day or 10 years, if they haven’t established a business credit profile, then the business is still at day one. Pat talked about putting a business plan together and showing a banker some solid financial projections. “Remember the projections you use, are based on the assumption that you’re going to get the financing needed. Work with a financial specialist to put your numbers together. The money you spend on a financial consultant will be well worth it, and the bank will appreciate your professionalism,” explained Gage.

Pat made another great point that collateral doesn’t have to come into play when applying for business credit. Banks lend business lines of credit without it. They’re called unsecured credit cards and unsecured lines of credit. These are great avenues for any business that perhaps doesn’t have the business collateral. It’s never a good idea to use personal collateral to fund a business. The banks will generally lend up to $50,000 without collateral on these types of loans. They do require a strong business credit profile and sometimes a good personal credit profile and these can be easily established and obtained. Lenders know that there’s a strong correlation between your commitment to your business and the loan being repaid.

The meeting went quite well, even though the investors veered from the planned agenda. They were all quite happy to leave with valuable information shared by Pat Gage.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

Contact:
Destiny Now, LLC33006 7 Mile Road Suite 423Livonia, MI 48152Phone: 734-261-0688Toll Free: 877-262-0688Fax: 734-422-6168
Email: info@opportunitycreator.com

Pat Gage Shares Tips on Business Credit Cards: Boston, Massachusetts

The beauty of business credit cards is they are a source of unsecured credit—no collateral is required

Boston, MA--Business credit cards are valuable financial tools to any business if they are managed properly. Business credit cards are unsecured and are not reported on one’s personal credit report. This means there is no collateral tied to them. This is a great benefit but if it’s abused, it can have a devastating affect on a business’ credit profile, and hence, the business itself.

Pat Gage attended a conference where he shared some tips about managing business credit cards. Pat told us we should always apply at our primary bank, where a relationship has already been established, paving the way for an easier application process. Never commingle business credit with personal credit, however, if there is business debt on a personal credit card, transfer that balance to the business card to improve personal debt to income ratios. Pat also explained that once we’ve received a business credit card, we’ll be flooded with offers from other companies; if an offer sounds good, apply for the card. An emergency could come up where the additional credit might come in handy.

Pat went on to discuss managing the business credit card bills. He said to use the 21 day grace period to improve cash flow, but do not abuse it and never pay late. Paying the bill online allows one to choose the exact date the bill is paid, leaving less room for error, while saving time and trouble writing and mailing a check and counting on the mail service to get it there in time. Paying late will result in late fees, increased interest rates and a drop in the business credit score. It is important to keep the business credit profile clean to apply for business lines of credit in the future.

Everyone who attended the conference got some value out of the tips shared by Pat Gage. They learned how a business credit card is an effective tool in managing a company’s finances, when used wisely.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

Destiny Now, LLC33006 7 Mile Road Suite 423Livonia, MI 48152Phone: 734-261-0688Toll Free: 877-262-0688Fax: 734-422-6168
Email: info@opportunitycreator.com

Pat Gage Speaks in Indianapolis, Indiana: Business Lines of Credit and Small Business Loans with Bad Credit or Low FICO Scores

Researching lenders who specialize in small business loans, building a business credit profile and cleaning up less than perfect personal credit
Indianapolis, In--It shouldn’t come as a surprise that banks are more than willing to loan money to people with good credit, but shy away from those whose credit is less than perfect. Does that mean the loan one needs for thier small business is doomed? Not necessarily, because bad credit financing does exist.
Pat Gage recently attended a meeting where investors and business owners discussed lines of credit for people with low credit scores. Those who attended the meeting learned about different lenders and different types of programs they offer. There are lenders who are wealthy individuals (often local) who will make loans to local businesses. Finding them takes some research, but they are out there. Then there are firms that specialize in small business loans to those whose credit is shaky. There are hundreds of them across the country, and they can easily be found on the Internet. Pat explained that one does have to persuade them that they are a viable candidate, and accomplishing that requires some work.
Pat explained that the first very important step is to separate one’s bad personal credit from their business credit. This can be done by forming a corporation (S or C) or an LLC (Limited Liability Company) and applying for an EIN (Employer Identification Number). This allows one to begin establishing a business credit profile that’s completely separate from their personal credit. It’s like starting with a totally clean balance sheet.
The next step is to build a strong business credit profile. That means finding suppliers who will report a payment history to the business credit bureaus-Dun and Bradstreet, Experian, and Equifax and be sure you to pay the suppliers on time, while adhering to other sound business practices. Make sure all business information is correct and consistent with all of the business credit bureaus and prepare financial statements for the company. Any potential lender is going to want to see a strong, professionally prepared financial statement; even if a business is a new start up one can put together a financial statement with projections. This is acceptable to most any lender.
Pat concluded his presentation by reminding everyone that they still need to clean up their personal credit. Even though it is separate from business, it is not going to go away and it is still a factor with many lenders’ decision process. One needs to explain why and how their bad credit happened, and what steps they’re taking to correct it. Lenders want to see an honest effort to correct past mistakes and avoid them in the future.
Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com This program works in all 50 states.
Contact:
Destiny Now, LLC33006 7 Mile Road Suite 423Livonia, MI 48152Phone: 734-261-0688Toll Free: 877-262-0688Fax: 734-422-6168
Email: info@opportunitycreator.com

Small Business Credit Sources: Pat Gage Discusses Credit Options in Phoenix, Arizona

One can never have too much credit—The key is to only use what is needed as it’s needed
Phoenix, AZ--Credit is one of the most essential business tools a small business can have. One needs it to grow their business, take advantage of equipment and supply sales or leasing, expansion, and many other things.

Most of the time, a small business doesn’t generate enough capital to supply all its needs. So when opportunities knock, savvy business owners turn to the credit market to take advantage and stay ahead of the competition. But what kinds of credit are available to the small business entrepreneur, and what types are best for his/her needs?

Pat Gage recently spoke to a group of people at a convention where he shared information on the many types of credit available to business owners with realistic needs. He explained that having multiple credit sources available allows a business to pick and choose which one is the best for any given situation. And since no two businesses are alike, it makes sense that different businesses will benefit from different types of loans.

For many small businesses Unsecured Lines of Credit work well. An Unsecured Line gives the owner a lot of flexibility to use only the amount of money one needs, and hold the rest in reserve. This helps cash flow with payments being based on the amount used and interest payments are only made on the outstanding balance. No collateral is required so no personal property or real estate is pledged against the credit line.

Pat says small Business Loans are the most common source of small business financing, after credit cards. There are a number of sources of small business loans, and with good credit, they’re generally not difficult to get. Some of these loans (SBA, eg.) are secured by the government. Result? Interest rates may be lower than conventional loans. They also can carry long repayment requirements which can be a big help with cash flow.

Pat also discussed other sources of credit, including straight bank loans (not government backed, credit cards and vendor credit.

As with personal credit, there are a variety of credit sources and options available to small business entrepreneurs. As with any major decision, it’s always best to consider all the options, compare the benefits against the cost, time and effort involved.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com
Contact:

Destiny Now, LLC33006 7 Mile Road Suite 423Livonia, MI 48152Phone: 734-261-0688Toll Free: 877-262-0688Fax: 734-422-6168
Email: info@opportunitycreator.com

Tips Shared by Pat Gage, Detroit, Michigan-How to Start a Business with Less than Perfect Personal Credit

The importance of managing business and personal credit and keeping them separate

Detroit, MI—Many people have great ideas for a new business venture, but are hesitant to get started because they have less than perfect credit. They are positive their personal credit score is going to be a roadblock to success. Pat Gage says different; he says this is the time to start planning to move forward, in spite of flawed credit.

Pat explained the first thing one needs to do is to find out what their credit score is before approaching any financial institution about a loan. This means getting their report from all three of the major credit-reporting bureaus – Equifax, Experian or TransUnion, to find out exactly where you stand.

Pat says to examine the credit report for errors and credit dings. It is very possible to contain errors like a late payment or missed payment that one knows they made on time and they can prove it. The time to get corrections made is before applying for business funding.
One thing potential lenders really dislike seeing is late or missed payments. If one has a valid reason for that error (family emergency, out of country, hospitalized, etc.), write a letter of explanation to the credit bureau. It’s possible to could get it lifted from a report. One can also enlist the services of a credit repair company, if they don’t know where or how to start. Pat also says to pay down high interest credit cards to 30% of the credit limit as quickly as possible, and keep these balances under control. A loan officer will does not like to see uncontrollable spending habits.

Pat pointed out that while loan officers look fondly on borrowers with excellent credit, they also appreciate those with less-than-perfect credit who have recognized and corrected the situation. It says a lot about a business owner and their credit worthiness to receive a loan. The key is to start establishing business credit so that personal credit becomes less important. One should start doing this immediately, even if thier business is a start up. There are lenders that will loan to start ups as well as established businesses but only if a business set up correctly as a business and not as a hobby. It’s fine to work from your home and still be a legitimate business as long as all the documented information (EIN, State filings, business licenses, business phone number and address) is consistent. This is the key to unlock the doors to business funding.

Pat concluded his speech with one last word about credit: Do not commingle business and personal credit. Keep credit cards separate, as well as bank accounts. The temptation can be awfully strong to co-mingle, but it’s a path you don’t want to go down.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com and discover a program for obtaining business credit that works in all 50 states.

Contact:

Destiny Now, LLC33006 7 Mile Road Suite 423Livonia, MI 48152Phone: 734-261-0688Toll Free: 877-262-0688Fax: 734-422-6168
Email: info@opportunitycreator.com

How to Get a Second Business Line of Credit-Pat Gage Speaks in San Francisco, California

Funding the expanding business and asking for enough credit so one doesn’t have to go through the application process again too soon

San Francisco, CA—Many small business owners are doing well; they’ve successfully funded their business venture and things are going along great. But, they could be better. How does one go about expanding and growing? Pat Gage recently spoke to a group of people and shared some valuable tips on obtaining a second business line of credit.

Pat explains that surprisingly, this isn’t as easy as one would think because a loan officer is going to look at the business just as hard the second time around as he/she did the first. There are no free passes when it comes to getting credit, so be prepared to look good. First, make sure the business credit is solid with all business credit cards and vendors being paid in a timely manner. Asking for more credit than what is needed is important; one doesn’t have to use it all at once, but it’s good to have available. This prevents having to return to the bank and go through the application process again later.

Pat brought up another good point. No matter how great the business is doing, lenders will look at personal credit as well; the lender needs to know about the person running the business. If they’re handling their personal finances properly, they will not be able to run their expanding business effectively.

Pat Gage offers a program to show investors and business owners how to obtain business lines of credit and unsecured business credit cards. It comes with easy to follow, step-by-step instructions for applying for credit for funding business ventures. His program is being used successfully in all 50 states.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Pat Gage’s site at http://www.10stepstomoney.com
Contact:

Destiny Now, LLC33006 7 Mile Road Suite 423Livonia, MI 48152Phone: 734-261-0688Toll Free: 877-262-0688Fax: 734-422-6168
Email: info@opportunitycreator.com

Small Business Owners Get Business Lines Of Credit for Their Business Needs and Business Growth

Business Lines Of Credit expert reveals keys to business lines of credit that does not report to your personal credit report


Albuquerque, NM--Entrepreneurs and small business owners need cash now more than ever. However, business owners face a major challenge finding a dependable, easy-to-use source of funds that does not create a drain on personal assets and credit scores. At some point, almost every entrepreneur reaches into his or her own pocket to fund business growth or to meet an immediate business crisis. Let's face it, when the rent is due or it's time to meet payroll, the entrepreneur often uses his own personal savings, line of credit or credit card for immediate cash flow – especially during the start-up phase of a new business. Real estate investors are notorious for using a home equity line of credit (HELOC) to buy and rehab a bargain property. But that scenario can be devastating to the personal credit and financial health of the business owner. Small Business Line Solves Credit Issues According to Pat Gage, a Michigan entrepreneur and real estate instructor, one of the best ways to fund business growth or to take advantage of investment opportunities is to establish a business line of credit that does not show up on a business owner's personal credit report. He says that this approach can eliminate the impact of "maxing out" personal credit. A business owner may want to eliminate the personal credit challenge by setting up a business line of credit that will provide easy access to cash when it is needed.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on FREE CD on business line of credit, visit Gage's site at http://www.10stepstomoney.comthe "10 Steps to Money Quick Start" CD is one of the most real-life; step-by-step business funding systems you'll find anywhere with strategies, tips and techniques known by a select few. Until now!
Discover a proven, but little-known system to tap into unlimited sources of Money to grow your business, buy the inventory you need, hire that sales staff and lease that fleet of trucks that will give you that competitive advantage. For example, you'll learn strategies and secrets, like...

· How to effectively separate your personal assets from your business to protect your corporate veil…and your family's well-being.
· How to obtain a DUNS number in less than 9 hours and build a bulletproof business credit profile with multiple business credit bureaus and have the bankers calling you.
· How to Get Business Credit cards and lines of Credit from $30,000 to $100,000+ with interest rates that won't break to bank.
· Step-by-step instructions in the art of filling out funding applications. It took me 2 years to perfect this simple system that prevents failure and keeps you from making mistakes. You can be prepared or declined. The choice is yours.

... And much, much more!

Credit lines are available in the following states: Alabama (AL), Alaska (AK), Arizona (AZ), Arkansas (AR), California (CA), Colorado (CO), Connecticut (CT), Delaware (DE), Florida (FL), Georgia (GA), Hawaii (HI), Idaho (ID), Illinois (IL), Indiana (IN), Iowa (IA), Kansas (KS), Kentucky (KY), Louisiana (LA), Maine (ME), Maryland (MD), Massachusetts (MA), Michigan(MI), Minnesota (MN), Mississippi (MS), Missouri (MO), Montana (MT), Nebraska (NE), Nevada (NV), New Hampshire (NH), New Jersey (NJ), New Mexico (NM), New York (NY), North Carolina (NC), North Dakota (ND), Ohio (OH), Oklahoma (OK), Oregon (OR), Pennsylvania (PA), Rhode Island (RI), South Carolina (SC), South Dakota (SD), Tennessee (TN), Texas (TX), Utah (UT), Vermont (VT), Virginia (VA) , Washington (WA), West Virginia (WV), Wisconsin (WI), Wyoming (WY) Credit lines are available in following Major Metro Areas: Albuquerque, Atlanta, Austin Baltimore, Boston, Charlotte, Chicago, Chico, Cincinnati, Cleveland, Columbus, Dallas, Fort Worth, Denver, Bolder, Detroit, Ft Lauderdale, Palm Beach, Harford, Houston, Indianapolis, Jacksonville, Kansas City, Las Vegas, Little Rock, Long Island, Los Angeles, Memphis, Miami, Milwaukee, Minneapolis, St Paul, Monterey, Nashville, New Haven, New York, Oakland, East Bay, Oklahoma City, Orange County, Orlando, Philadelphia, Phoenix, Pittsburgh, Portland, Puerto Rico, Raleigh-Durham, Reno, Tahoe, Rochester, Sacramento, Salt Lake City, San Francisco, San Jose, Silicon Valley, Santa Fe, Seattle, Spokane, Springfield, St. Louis, Tampa, Toronto, Tucson, and Washington Dc. For more information on FREE CD on business line of credit, visit Gage's site at http://www.10stepstomoney.com

The Six Reasons Successful Small Business Owners and Investors in Atlanta, GA Assure They Have Proper Business Lines Of Credit

Six Reasons to establish a dependable source of money now rather than when the roof is caving in

Atlanta, GA--The reality is that if small investors and business are down and out – either personally or in their business – nobody will lend them a dime. If their riding high, people (and institutions) seem ready, willing and able to open their wallet! The best solution is to make sure they have access to money now, before they need it. They don’t necessarily need cash in hand, either. Having a flexible line of credit that they can use when they need it can be just as effective. Here are six great reasons for establishing a dependable source of money NOW, rather than when the roof is caving in. 1. Timing is everything. At the risk of being redundant, nail down a dependable source of cash before they need it. If a great opportunity comes up, they want to be able to act immediately. If there’s an emergency, they don’t have time to start looking for funds. Either way, cash – or its equivalent – can make the difference. In short, opportunities don’t wait. And they can’t wait if there’s a crisis looming. 2. Make decisions from a position of strength. It is empowering to make a business decision knowing they have a definite pool of money to work with. It brings a degree of clarity that wishing, hoping and guessing can’t match. 3. Stay in control. In business, almost nothing can put them into a tailspin like a significant financial squeeze. If they have to make payroll or meet an unexpected expense, you’ll have to scramble to “pull forward” anything with a dollar sign attached. Would they feel more in control if they had a pre-approved line of credit that they could tap if and when an emergency occurred? 4. Changing market conditions. In recent months, top mortgage lenders have closed their doors or severely cut back programs for home buyers. Foreclosures are high. The current housing and mortgage environment is creating pressure on business in general. Unsecured credit is almost impossible to find. If they can find a line of credit today, don’t wait. 5. Convenience. What could be more convenient than having a pre-approved line of credit available that they can use with the ease of writing a check? They certainly don’t want to jump through a lot of hoops every time they need to use the money. For most people, ease of use, minimal hassles, and clear step-by-step processes are worth the investment. After all, how much is your time and peace of mind worth? Find a line of credit that is easy to get and easy to use. 6. Separate your personal assets from your business. Many entrepreneurs and small business owners fall into the trap of using their own money and credit to build their business. This can have a serious impact for the business owner. Consider the implications. A business owner’s personal assets and credit can be eaten up quickly if he or she acts as the bank. Also, personal debt can slam your debt-to-income ratios, which could limit them if they wanted to buy that new dream home. Create a line of credit for their business, instead.
Now you have the six reasons, lets get to someone who can do something about it says Mark Maupin, real estate instructor at local college in Detroit, Michigan. Maupin say’s “Pat Gage is only credit speaker in the market that gives a step by step system to get business lines of credit. Pat tells it like it is and his system works!”Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on FREE CD on business line of credit, visit Gage’s site at http://www.10stepstomoney.comThe "10 Steps To Money Quick Start" CD is one of the most real-life; step-by-step business funding systems you’ll find anywhere with strategies, tips and techniques known by a select few. Until now!
Discover a proven, but little-known system to tap into unlimited sources of Money to grow your business, buy the inventory you need, hire that sales staff and lease that fleet of trucks that will give you that competitive advantage. For example, you'll learn strategies and secrets, like...
How to effectively separate your personal assets from your business to protect your corporate veil…and your family’s well-being.
How to obtain a DUNS number in less than 9 hours and build a bulletproof business credit profile with multiple business credit bureaus and have the bankers calling you.
How to Get Business Credit cards and lines of Credit from $30,000 to $100,000+ with interest rates that won't break to bank.
Step-by-step instructions in the art of filling out funding applications. It took me 2 years to perfect this simple system that prevents failure and keeps you from making mistakes. You can be prepared or declined. The choice is yours.
... And much, much more!
Credit lines are available in the following states: Alabama (AL), Alaska (AK), Arizona (AZ), Arkansas (AR), California (CA), Colorado (CO), Connecticut (CT), Delaware (DE), Florida (FL), Georgia (GA), Hawaii (HI), Idaho (ID), Illinois (IL), Indiana (IN), Iowa (IA), Kansas (KS), Kentucky (KY), Louisiana (LA), Maine (ME), Maryland (MD), Massachusetts (MA), Michigan(MI), Minnesota (MN), Mississippi (MS), Missouri (MO), Montana (MT), Nebraska (NE), Nevada (NV), New Hampshire (NH), New Jersey (NJ), New Mexico (NM), New York (NY), North Carolina (NC), North Dakota (ND), Ohio (OH), Oklahoma (OK), Oregon (OR), Pennsylvania (PA), Rhode Island (RI), South Carolina (SC), South Dakota (SD), Tennessee (TN), Texas (TX), Utah (UT), Vermont (VT), Virginia (VA) , Washington (WA), West Virginia (WV), Wisconsin (WI), Wyoming (WY) Credit lines are available in following Major Metro Areas: Albuquerque, Atlanta, Austin Baltimore, Boston, Charlotte, Chicago, Chico, Cincinnati, Cleveland, Columbus, Dallas, Fort Worth, Denver, Bolder, Detroit, Ft Lauderdale, Palm Beach, Harford, Houston, Indianapolis, Jacksonville, Kansas City, Las Vegas, Little Rock, Long Island, Los Angeles, Memphis, Miami, Milwaukee, Minneapolis, St Paul, Monterey, Nashville, New Haven, New York, Oakland, East Bay, Oklahoma City, Orange County, Orlando, Philadelphia, Phoenix, Pittsburgh, Portland, Puerto Rico, Raleigh-Durham, Reno, Tahoe, Rochester, Sacramento, Salt Lake City, San Francisco, San Jose, Silicon Valley, Santa Fe, Seattle, Spokane, Springfield, St. Louis, Tampa, Toronto, Tucson, and Washington Dc. For more information on FREE CD on business line of credit, visit Gage’s site at http://www.10stepstomoney.com

Smart Real Estate Entrepreneurs in Ann Arbor, Michigan Protect Personal Credit Rating with Business Lines of Credit

National Speakers Upset Over Pat Gage Giving Away Trade Secrets for Free-- The "10 Steps To Money Quick Start" CD

Ann Arbor, MI—Pat Gage, the Opportunity Creator, shared some valuable information about business lines of credit at an investor’s meeting in Ann Arbor. We’ve all heard that “good debt” is ok, but that “bad debt” can be a disaster. That’s true for someone’s personal balance sheet and may be even more important for a small business. What’s “bad” debt? Think high interest rates for cash spent on depreciating assets. It’s impossible to grow personal wealth or business value if most of what comes in is used to pay off high interest credit purchases that have little or no lasting worth.What’s “good” debt? Consider debt that provides a competitive advantage. For example, access to cash might allow you to take advantage of a profitable opportunity that you would otherwise miss. Sometimes, having the ability to act quickly using cash reserves or business credit can make all the difference.If you were able to borrow money and invest it for significantly higher returns, would it be worth it? It might if the investment was in line with your business plan and made sense to your overall strategy. However, do not make the mistake of spending borrowed money on something that won’t garner enough of an upside return or create enough additional cash flow to justify the expense. You may very well jeopardize your financial health.

Businesses frequently turn to long term financing for working capital or borrow to buy equipment or to pay for business expansion. The loans are usually secured by tangible assets, by receivables or sometimes by the owner’s personal assets, such as a home. For short term funds, a preferred alternative is an unsecured business line of credit. Some advantages of a business line of credit include:• Interest paid only when the funds are used• Pre-approved credit• Money can be used for any purpose• Available cash for emergencies• Renewable, reusable source of funds

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on FREE CD on business line of credit, visit Gage’s site at http://www.10stepstomoney.comThe "10 Steps To Money Quick Start" CD is one of the most real-life; step-by-step business funding systems you’ll find anywhere with strategies, tips and techniques known by a select few. Until now!

Discover a proven, but little-known system to tap into unlimited sources of Money to grow your business, buy the inventory you need, hire that sales staff and lease that fleet of trucks that will give you that competitive advantage. For example, you'll learn strategies and secrets, like...
How to effectively separate your personal assets from your business to protect your corporate veil…and your family’s well-being.

How to obtain a DUNS number in less than 9 hours and build a bulletproof business credit profile with multiple business credit bureaus and have the bankers calling you.
How to Get Business Credit cards and lines of Credit from $30,000 to $100,000+ with interest rates that won't break to bank.

Step-by-step instructions in the art of filling out funding applications. It took me 2 years to perfect this simple system that prevents failure and keeps you from making mistakes. You can be prepared or declined. The choice is yours.
... And much, much more!
For more information on FREE CD on business line of credit, visit Gage’s site at http://www.10stepstomoney.com

Pat Gage Shows Investors how to Finance Business Ventures in Iowa City, Iowa, with Business Lines of Credit

Starting your own business is the fastest route to financial freedom, and the rewards can be huge, but anyone who's done it before will tell you that you will need much more money than you think you will.

Iowa City, IA--If you think it will take $25,000 to start your New Business, multiply it by 3 and you should get a more realistic $75,000. In any new Business Venture there are always many unexpected expenses that come up and, if you are not prepared, the lack of cash can quickly put your Business, "Out of Business".

If your idea is good, and you've got the drive and the dedication, you can make it a success, but you're going to need one more thing, and that is LOM, or "Lots of Money". How do you get it?
Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For free CD on business lines of Credit and more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

The "10 Steps to Money Quick Start" Free CD is one of the most real-life; step-by-step business funding systems you’ll find anywhere with strategies, tips and techniques known by a select few. Until now!

Discover a proven, but little-known system to tap into unlimited sources of Money to grow your business, buy the inventory you need, hire that sales staff and lease that fleet of trucks that will give you that competitive advantage. For example, you'll learn strategies and secrets, like...
How to effectively separate your personal assets from your business to protect your corporate veil…and your family’s well-being.

How to obtain a DUNS number in less than 9 hours and build a bulletproof business credit profile with multiple business credit bureaus and have the bankers calling you.
How to Get Business Credit cards and lines of Credit from $30,000 to $100,000+ with interest rates that won't break to bank.

Step-by-step instructions in the art of filling out funding applications. It took me 2 years to perfect this simple system that prevents failure and keeps you from making mistakes. You can be prepared or declined. The choice is yours.

... And much, much more!Pat’s system works in the in the following states: Alabama (AL), Alaska (AK), Arizona (AZ), Arkansas (AR), California (CA), Colorado (CO), Connecticut (CT), Delaware (DE), Florida (FL), Georgia (GA), Hawaii (HI), Idaho (ID), Illinois (IL), Indiana (IN), Iowa (IA), Kansas (KS), Kentucky (KY), Louisiana (LA), Maine (ME), Maryland (MD), Massachusetts (MA), Michigan(MI), Minnesota (MN), Mississippi (MS), Missouri (MO), Montana (MT), Nebraska (NE), Nevada (NV), New Hampshire (NH), New Jersey (NJ), New Mexico (NM), New York (NY), North Carolina (NC), North Dakota (ND), Ohio (OH), Oklahoma (OK), Oregon (OR), Pennsylvania (PA), Rhode Island (RI), South Carolina (SC), South Dakota (SD), Tennessee (TN), Texas (TX), Utah (UT), Vermont (VT), Virginia (VA) , Washington (WA), West Virginia (WV), Wisconsin (WI), Wyoming (WY) Credit lines are available in following Major Metro Areas: Albuquerque, Atlanta, Austin Baltimore, Boston, Charlotte, Chicago, Chico, Cincinnati, Cleveland, Columbus, Dallas, Fort Worth, Denver, Bolder, Detroit, Ft Lauderdale, Palm Beach, Hartford, Houston, Indianapolis, Jacksonville, Kansas City, Las Vegas, Little Rock, Long Island, Los Angeles, Memphis, Miami, Milwaukee, Minneapolis, St Paul, Monterey, Nashville, New Haven, New York, Oakland, East Bay, Oklahoma City, Orange County, Orlando, Philadelphia, Phoenix, Pittsburgh, Portland, Puerto Rico, Raleigh-Durham, Reno, Tahoe, Rochester, Sacramento, Salt Lake City, San Francisco, San Jose, Silicon Valley, Santa Fe, Seattle, Spokane, Springfield, St. Louis, Tampa, Toronto, Tucson, and Washington Dc. For free CD on business lines of Credit and more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com