What would you do with an additional $30,000, $50,000 or $100,000 or even more in business capital?
Would you buy that equipment your business desperately needs?
Would you hire that assistant so you wouldn’t have to work 70+ hours a week and on weekends?
Would you pay off some bills? Taxes perhaps?
Would you launch an advertising campaign to bring in more customers or clients?
Would you buy residential or commercial property?
Is the lack of small business credit holding you back from growing your business or perhaps the thought of even starting a new business?
What would you do with an extra 30, 50, $100,000 or more in your bank account right now or the availability of a line of business funding (credit)?
While you may think this is an impossible dream, the reality of having a business credit line may be much closer than you think. The key to having this kind of extra money ready to spend for your business is in knowing the secrets to be able to acquire these business lines of credit.
Securing business lines of credit or funding can seem daunting when you are first starting on this path, but with a few small steps, and a little patience, you will be able to secure the money you, your business and family deserve.
The first thing you need to do is make sure your business has it's own credit profile and history. What we need to do is to build your business credit up enough were your personal credit becomes obsolete.
My 10 Steps To Money System assists you in making that separation between personal and business credit. The goal is to rely and build your business credit more than your personal credit. You as a business can borrow a lot more than you can as a person.
It's time to do a credit check on your business. Pull your business' Dun & Bradstreet Credit Profile and see what it says about your business, banks already know. Don’t have a D&B Credit Profile for your company? A D&B Credit Profile is your business’s credit report, just like your personal credit report is for you. You need to get one!
As you build credit for your business, you will suddenly find a new world is open to you. Instead of having to pay with cash or capital for each purchase you have to make, you will instead be able to use business lines of credit and pay as you go. This means you will have money, ready to go, when you need it, but don't have to use it (or pay interest on it) until that time comes. This is the way large businesses work, why shouldn't you be using their business credit line tricks?
While you may be thinking you can get the same thing by having a personal credit card, you'd be wrong. Unlike a personal credit card, a business line of credit, whether through a bank, or credit card company (such as the Open American Express card), will be giving perks for being a business account. Some of those perks can include convenience checks. Sure, you've seen those with your personal credit card, but when you use 'cash advance checks' with your card, it will cost a fortune. Business accounts often come with 'convenience checks' that do not come with the same penalty fees and charges for usage.
While these two tips may seem relatively simple and basic, establishing your own business credit, and a business line of credit can help you take major strides towards starting or growing your dream business.
As the Nations Leading Expert in Business Funding, Pat Gage has created a system for raising unlimited money for any business. The system is called “10 Steps To Money®” and has assisted many of his students and himself in raising hundreds of thousands of dollars for their businesses. Pat is not only a sought after business funding expert but also a national speaker and frequent radio show guest. For more information on any topic discussed, visit Pat Gage’s site at http://www.10StepsToMoney.com
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