Bank Credit Lines and Loans

The end goal to establishing a solid business credit foundation is to be approved for true unsecured business financing from a bank.  Once you have in fact reached this point, it puts your business on the map for other non-bank business lenders, vendors and creditors. 

Most small business owners, especially in this economy, think that being approved for a bank loan is impossible.  The fact of the matter is, it's not impossible, but it is tricky and certain items need to be accomplished in order for your business to be approved.  Again, once you have become approved for a business bank loan, other lenders, vendors and creditors will truly take you seriously.

Business bank loans are not impossible to get but require attention and good corporate practices

Another very large factor in being approved for true unsecured financing from a bank is to have a business checking account with that bank and to have that account be in good standing.  You wouldn't lend money to someone that you just met on the street for the first time would you?  Banks think the same way and heavily rely on good solid relationships to make business lending decisions. 

A similar aspect to how banks look at their potential borrowers is the length of time the business has actually been a business.  Many business owners think that the day they incorporate is the first day they are actually a business.  As far as banks and lenders are concerned, the first day your business is truly a business is the day you open your business bank account.  For example, if you incorporated January 1st 2003 but you didn't open a business bank account until January 1st 2007, as far as banks are concerned, you opened your business January 1st 2007.

As far as banks are concerned, your first day of business is the day you open your first business bank checking account

In our business credit building system we will teach you how to properly manage your banking relationships.  We will teach you how many credit cards you should have open, how to use those credit cards, how much cash you should always have in the bank, whether or not you should use checks to purchase materials, and when you should apply for business loans and lines of credit.

The end goal is to get your business approved for true unsecured business financing without using a personal guarantee.