Day: January 16, 2020

Steward Hiring Outlook

Steward Hiring Outlook

The employing expectation for trip assistants has actually lightened up significantly over the previous couple of months. Led by United Airlines’ current news that they would right away start to employ up to 2000 brand-new trip assistants, this information has actually stimulated the most focus.– The 2 most recent air service providers, EOS Airlines and also Maxjet Airways, have actually just recently employed trip assistants as well as are anticipated to work with once again.

If winging your means to Peoria or Paris is the kind of way of living you desire to lead, after that functioning as a trip assistant is absolutely one of the methods to do simply that. Air providers are working with as well as the pickings benefit the appropriate prospects. Get in touch with your preferred airline company straight for as much as day employing info and also open homes.

The employing overview for trip assistants has actually lightened up substantially over the previous couple of months. Led by United Airlines’ current statement that they would quickly start to work with up to 2000 brand-new trip assistants, this information has actually triggered the most interest.– Chautauqua, Comair, Champion Air, and also Air Wisconsin are all employing.– The 2 latest air providers, EOS Airlines as well as Maxjet Airways, have actually lately employed trip assistants and also are anticipated to employ once again.

Air service providers are working with as well as the pickings are excellent for the best prospects.

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The Banking Internet Basics

The Banking Internet Basics

Standard economic has in fact continuously been a physical framework where you probably to deposit or get car loan. The monetary Internet sector has in fact exploded in the previous 5 years. You could not comprehend what monetary Internet actually is, in addition to it can be a bit challenging as a result of the reality that it has various names from internet banking to COMPUTER economic along with internet financial as well as additionally monetary online.
With the charm of the power in addition to the internet it uses people to take control of their lives, countless standard banks have in fact created monetary Internet sites where customers can relocate money, developed expenses negotiations continuing or otherwise, without delay analyze points that have in fact removed, as well as additionally a number of numerous other attributes that can be accessed 24 humans resources daily 7 days a week. This monetary Internet choice has in fact been prominent not simply for customers that desire to have some control over their account without requiring to head to the banks yet likewise for banks also whose man humans resources have in fact been freed from doing simple work like balance inquiries, account transfers, etc because of the reality that the customer does it himself with monetary Internet.
Financial Internet which simply exist online methods you will absolutely need to relocate your cash money to the new account otherwise mail a payment through check. Taking into consideration that the whole tip of monetary Internet is to make monetary as extremely simple as viable, lots of economic Internet internet sites will definitely allow you to make a transfer from a block as well as likewise mortar banks to the economic Internet web site as often as you such as without expense or a little price.
When you utilize economic Internet options you have the capability to access your account, transfer financing, pay costs, as well as likewise any kind of kind of selection of factors from any type of sort of computer system with Internet get to around the world. Given that with monetary Internet you continuously comprehend where your account stands, this is impressive as well as likewise makes taking a journey an entire great deal a lot less challenging.

The post The Banking Internet Basics appeared first on ROI Credit Builders.

Steward Hiring Outlook

Steward Hiring Outlook The employing expectation for trip assistants has actually lightened up significantly over the previous couple of months. Led by United Airlines’ current news that they would right away start to employ up to 2000 brand-new trip assistants, this information has actually stimulated the most focus.– The 2 most recent air service providers, …

The post Steward Hiring Outlook appeared first on Get Funding For Your Business And Ventures.

The post Steward Hiring Outlook appeared first on Buy It At A Bargain – Deals And Reviews.

Ecommerce AI What you might not recognize is that AI is goin…

Ecommerce AI What you might not recognize is that AI is going to have a significant influence on Ecommerce. Ecommerce is a suit made in paradise for AI automation as well as renovation. In the coming years, there will certainly be some remarkable developments in Ecommerce many thanks to the application of AI. What you …

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What you might not recognize is that AI is goin… appeared first on Buy It At A Bargain – Deals And Reviews.

The Impact of Content on Branding

Editors note: This is a guest post written by Sam Rabdil from ABODO. Your business has moved from just a fleeting thought to reality. You have a product or service and you found a developer that built you a great site. You’re a dedicated bootstrapper and you prefer DIY methods, but you’re worried about content. … Read more »

The post The Impact of Content on Branding appeared first on Paper.li blog.

The Banking Internet Basics

The Banking Internet Basics

Standard economic has in fact continuously been a physical framework where you probably to deposit or get car loan. The monetary Internet sector has in fact exploded in the previous 5 years. You could not comprehend what monetary Internet actually is, in addition to it can be a bit challenging as a result of the reality that it has various names from internet banking to COMPUTER economic along with internet financial as well as additionally monetary online.
With the charm of the power in addition to the internet it uses people to take control of their lives, countless standard banks have in fact created monetary Internet sites where customers can relocate money, developed expenses negotiations continuing or otherwise, without delay analyze points that have in fact removed, as well as additionally a number of numerous other attributes that can be accessed 24 humans resources daily 7 days a week. This monetary Internet choice has in fact been prominent not simply for customers that desire to have some control over their account without requiring to head to the banks yet likewise for banks also whose man humans resources have in fact been freed from doing simple work like balance inquiries, account transfers, etc because of the reality that the customer does it himself with monetary Internet.
Financial Internet which simply exist online methods you will absolutely need to relocate your cash money to the new account otherwise mail a payment through check. Taking into consideration that the whole tip of monetary Internet is to make monetary as extremely simple as viable, lots of economic Internet internet sites will definitely allow you to make a transfer from a block as well as likewise mortar banks to the economic Internet web site as often as you such as without expense or a little price.
When you utilize economic Internet options you have the capability to access your account, transfer financing, pay costs, as well as likewise any kind of kind of selection of factors from any type of sort of computer system with Internet get to around the world. Given that with monetary Internet you continuously comprehend where your account stands, this is impressive as well as likewise makes taking a journey an entire great deal a lot less challenging.

The post The Banking Internet Basics appeared first on ROI Credit Builders.

New comment by abinaya_rl in "Ask HN: Who is hiring? (January 2020)"

Hey, a friendly note to remote job seekers

There are few automated aggregation sites available to curate the jobs posted in this thread but I want to take the aggregation one step further and wanted to provide the good quality remote jobs by handpicking them. I spent 15+ hours to search, screen, verify and tag hundreds of remote jobs. So it can save you time, energy, and frustration – and hopefully, help you find a job faster.

https://remoteleaf.com/whoishiring

– List of more than 150 remote jobs

– Hand-curated remote jobs that are posted in only “Who is hiring?” thread.

– Use filters based on skill category and location restrictions.

– Only 100% remote jobs

– Everything is free

Any feedback welcome here in comments

For hiring companies: please check this list and let me know if I’m done something wrong.

Starting Business Credit – Why Your Business Address Matters

Did you know that your business address matters when it comes to starting business credit?  Your address matters. And there are other things that can make a difference. Here’s how you can start off on the right foot when it comes to business credit. Your Business Address, and  5 Other Things You Didn’t Know Make … Continue reading Starting Business Credit – Why Your Business Address Matters

How to Build Corporate Credit and Run a Corporation

Business owners old and new often wonder how to build corporate credit.  This is just one of the many questions that pop up when running a corporation.  Thankfully, there is more information available than ever before on running a corporation, from building corporate credit to understanding your financial statements, and everything in between.  

5 Tips for How to Build Corporate Credit and Make Your Corporation Fundable

Even if you are already up and running, you may be surprised at how some of these tips can help you.  There is a lot going on out there that can affect your business. Most of it you may not even realize.  There are several pieces to the puzzle. Often business owners cannot tell or see when one doesn’t fit simply because they can’t see the whole picture.  Most often, they don’t even know there are parts of the puzzle they cannot see. If they do know it, they have no clue how to gain access, find the issues, and fix them. 

Whether you are building your corporation in Delaware, which has long been a business building giant,  Wyoming, which is fast catching up, or any other state, these tips can be useful.  

How to Build Corporate Credit and Fundability Tip 1: Set Up Your Business for Success

Let’s go back to the puzzle example for a minute.  When you are first starting a large, complicated jigsaw puzzle, you don’t set up just anywhere.  You try to find somewhere that will ensure successful completion. Think about it. Would you just dump out the pieces on the floor and get to work? 

This would for sure be the fastest way to get started, but it would not foster success. Pieces could get kicked around and lost under furniture.  It would take forever to find where the pieces you have fit, and those walking by could unknowingly cause all kinds of trouble with one ill placed foot. 

Seasoned puzzlers know that you set up on a table that is used only for the puzzle.  You gently put the pieces on the table, and you take the time to turn each one over while separating the edges from the middle.  

When building corporate credit, you have to set your business up to be fundable and successful, just like with a puzzle.  If you don’t, you could end up having to do a lot of work over again. 

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

Steps to Setting Up a Fundable Business

Of course, if your business is already in operation and you find you are lacking in some of these areas, you may end up needing to do a little extra work to get things on the right track.  Take stock now, and get busy making sure all of these things are in place. 

A dedicated business address and phone number is necessary.  

Using your personal address and phone number will not work. Make sure your business contact information is listed in the business 411-directories as well.  This is important for more than just making sure customers and potential customers can get in touch with you, as you will see later. 

Your business needs an EIN.

An EIN works like your personal SSN, but it is only for your business.  Many business owners think that it’s fine to just use their SSN, especially in the beginning.  However, once you start looking into how to build corporate credit and how to make your business fundable, you’ll see that you definitely need to get an EIN.   You get an EIN for free, easily, at IRS.gov. 

Incorporation is a must. 

This is hard for some new business owners to swallow, and if you are reading this and there is only one thing on the list you need to work on, my guess is this is it.  Here’s why. It is so easy and affordable to run as a sole proprietorship that a lot of business owners never give it a second thought.

If you are currently operating as a sole proprietor, be aware that you will lose the time in business you acquired while operating as a sole proprietor.  In addition, any payment history, negative or positive, will be lost as well. You will have to start over building business credit at square one. This occurs because a corporation is a separate entity from the owner. 

In addition to tax benefits, it also helps protect your personal assets in case of a bankruptcy, because your business is a separate entity on its own.  When it comes to building business credit, that separation is a key piece of the puzzle. It ensures that business accounts report on your business credit and not you personal credit. 

It is necessary to incorporate, but it doesn’t matter which form of incorporation you choose when it comes to building corporate credit.  An LLC, S Corp, and C corporation all function the same way for this purpose. Make the decision based up how much liability protection you need and your budget, as they all offer different levels of protection at varying costs.  You do have to choose one though. 

A Note About Registered Agents when You Incorporate

When you incorporate, you will have to list a registered agent.  It’s probably not a good idea to list yourself. It may seem easier, but there are several reasons this doesn’t really work well. 

First, you have to list an agent for each state your business is registered in.  If you register in more than one state, obviously you cannot be listed as the agent in each one. You can only live in one place at a time. 

Next, a registered agent has to have a physical address.  A P.O. box will not work. Additionally, you run the risk of letting something slip through the cracks.  This is especially true if you are trying to coordinate with agents in several different states. There is a lot to keep up with.  The better option is to hire a registered agent service. They can easily coordinate in different states, offer a physical address, and ensure you have all the information you need when you need it. It’s an extra cost, but absolutely worth it.

Open a business bank account. 

This isn’t just an account that you call your business account but use for personal stuff too.  Your business needs a dedicated, official business bank account. Not only will it offer the separation needed for when you dig into how to build corporate credit and make your business appear fundable, but there are other benefits as well.  For example, there are some types of funding you cannot access without a business bank account, like a merchant cash advance.  

In addition, many lenders and business credit cards want to see a business bank account.  It will be helpful to already have business expenses separate when you do your taxes as well. 

Don’t forget to get a D-U-N-S number.  

This is huge when you want to build corporate credit.  The D-U-N-S number is a number that Dun & Bradstreet issues to each company in its database.  You cannot have business credit with D&B unless you have this number. Since they are the largest and most commonly used business credit reporting agency, you definitely need it.  You can apply for free on their website. 

Get a professional business website. 

This has to be more than just something you throw together on a free hosting service.  You need to have someone professionally design and launch your site, and pay for hosting.  The goal is to make your business appear fundable to lenders, and if a lender does any research on your business and either cannot find a website, or finds a bad one, it will not look good.  

How to Build Corporate Credit and Fundability Tip 2: Consistency Across All Channels

Many applications for business credit are denied for suspicion of fraud rather than for a poor credit score.  How do you avoid this? Setting up your business properly is a great start. There is a little more to it however.  

Lenders and credit reporting agencies have access to way more information than you realize. If something doesn’t match up, it is going to throw up red flags.  Your business name, contact information, and phone number should be the same everywhere. That seems easy, but consider how much is really out there: 

  • licenses
  • insurance
  • 411-directories (Remember I told you it was about more than just people being able to find your contact information.)
  • rent or mortgage contracts
  • business website
  • other public records

Take some time to check all of these things to ensure that everything lines up.  Another thing that seems small but can actually cause trouble in the world of corporate credit and fundability is the business email address.  You definitely need one, but it should be the same as the owner’s. It can’t be from a free service like Gmail or Yahoo. Pay for an email address that has the same URL as the business website.  

How to Build Corporate Credit and Fundability Tip 3: Work in the Right Order

The biggest piece of this corporate credit building puzzle is working the right order.  If you are an existing business, you probably already have some business debt. Chances are though, unless you have already followed these steps, it is in your personal name and thus affecting your personal credit and not your business credit. 

When you start researching steps to building corporate credit, you’ll likely starting seeing terms like vendor credit tier, retail credit tier, fleet credit tier, and cash credit tier. These are terms that relate to what order you should work in when applying for credit in your business name.  If you immediately begin by applying for standard business credit cards with no limitations, you will be repeatedly denied. This is similar to trying to put together the center of a jigsaw puzzle first, without a picture for a guide. You’ll never get it. 

Every puzzler knows you work the corners first, then put the edges together and work from the edges in. When it comes to how to build corporate credit, you start at the bottom tier and work your way up. 

The Vendor Credit Tier

This is the bottom tier.  It helps you get the ball rolling.  You see, corporate credit doesn’t build passively like consumer credit does.  This means, unless you have actively worked at building it, you likely have no credit in the name of your business. It is almost impossible to get credit without credit, so what do you do? Then answer is the vendor credit tier. 

This tier is made up of retailers that will extend net 30 terms on invoices without a credit check. The best part is, they will report your payments on these invoices to the business credit reporting agencies like D&B, Experian, or Equifax.  This, in turn, begins to build your corporate credit score. 

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

The Other Tiers

corporate entity credit Credit Suite

Once you have 8 to 10 retailers from the vendor credit tier reporting, you can work in to the next tiers.  After vendor credit comes the retail credit tier.  This includes credit cards from retailers that only allow you to use the cards at their stores.  For example, you can only use an Office Depot card at Office Depot, Office Max, or on those websites. 

Get a few of those under your belt and you can apply for cards in the fleet credit tier.  This tier includes cards from companies like Fuelman and Shell that only allow you to use them for automobile repair and maintenance costs and fuel.  

Once you have several of these reporting you are ready for the final piece of this particular puzzle.  That’s the cash credit tier. These include standard business credit cards that have lower rates, rewards, and no limits on where you can use them or what expenses you can use them for. 

How to Build Corporate Credit and Fundability Tip 4: Make Responsible Decisions

If you complete all of these steps you will have strong corporate credit and a fundable business.  However, it doesn’t stop there. Indeed, at every step along the way and into continuity thereafter you have to make responsible decisions in every area of your business.  

This is of particular concern when it comes to how to build corporate credit.  The reason is, you are racking up credit accounts left and right in an effort to build a strong business credit score. During this process, there is a huge potential for a couple of big blunders.  

One trap that is easy to fall into is buying things that do not really benefit your business just to build the credit.  It’s seems like and easy trap to avoid, but you can be in it before you know it. Of course, you have to use the credit for it to do what you need it to do, but do so wisely.  Make a conscious effort to think about how each and every purchase will benefit your business and help it grow. 

The other potential blunder is to dig the debt hole too deep.  None of this will matter if you can’t make your payments consistently on-time.  In fact, it will do more harm than good. Take some time to figure out how much you can afford in debt payments each month and spread that out over the accounts you are using for credit building.

Also, use business accounts only for things you would buy anyway.   When you order from vendors in the vendor credit tier, order only things you are already using in the course of everyday business. Use the same rule of thumb for cards in the other tiers as well.  There is no reason to accumulate unnecessary debt.

Pay Attention to Financials

There are a lot of business owners out there that do not understand what their financial statements are telling them about their business. If they pay any attention at all to them, they are simply relying on what their accountant or bookkeeper tells them.  

It is essential for a business owner to understand their business financial statements.  Without this understanding, it is almost impossible to make responsible decisions. 

How to Build Corporate Credit and Fundability Tip 5: Monitor Your Credit

Credit monitoring is important both while you are building corporate credit and after you have a strong, established score. At each step of the credit building process you need to know which accounts are reporting.  This is how you will know it is time to move on to the next tier.  

Credit monitoring is also essential to maintaining that consistency that is needed for fundability.  If you see a mistake on your credit report, you can have it corrected. If you notice old information, you can update it. 

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

How to Build Corporate Credit and Making Your Corporation Fundable Go Hand in Hand

It’s true.  You can have corporate credit and not be fundable, but your business cannot be fundable without strong corporate credit.  The best way to ensure your business is fundable is to start working to build strong corporate credit from the very beginning.  Many of the steps to building fundability and building corporate credit are the same, and you need both to run a successful business.  

 

The post How to Build Corporate Credit and Run a Corporation appeared first on Credit Suite.

Starting Business Credit – Why Your Business Address Matters

Did you know that your business address matters when it comes to starting business credit?  Your address matters. And there are other things that can make a difference. Here’s how you can start off on the right foot when it comes to business credit.

Your Business Address, and  5 Other Things You Didn’t Know Make a Difference When Starting Business Credit

When you first start a business, you may not be thinking about anything other than how to pay for it  and how to get customers. Many businesses start small from home. They operate in either an extremely intimate area, or they work mostly online.  Social media-based businesses have exploded in recent years. 

That being the case, new business owners often simply use their home address as their business address.  It’s the easiest thing to do, and makes sense after all. I mean, if you are running your business out of your house, why wouldn’t you use your home address? 

What frustrates you the most about funding your business? Check out how our free guide can help. 

Looking into the future however, you are going to need to build business credit.  For that, your business needs its own address, separate from your personal address. 

Why Is Starting Business Credit Important? 

If you have great personal credit, business credit probably never even crossed your mind.  You just figure you can get all the funding you need based on the merits of your personal credit score. If your personal score isn’t the best, you may have explored other options and realize that business credit is a thing. 

Here is what you may not know, either way.  You cannot just apply for credit in your business name and assume that any credit you get is business credit.  Unless you set up your business in a very specific way and follow a very intentional process, those accounts are going to report to your personal credit.  This is true even if you apply with your business name. 

Why does this matter?  There are a few reasons actually.  First, personal credit simply cannot handle the spending necessary to run a business.  You will either exceed your limits continually or consistently hover near them. Even if you pay off your cards each month, staying near limits can affect your score negatively.  It results in a high debt-to-credit ratio, and that will cause your personal score to drop.

Conversely, cards obtained on the merits of your business credit will usually have higher limits.  That means more spending power. Not only that, but if there is and issue with your business debt, your personal credit will be protected because those accounts will not be on your personal credit report.

How to Get a Business Address

Now that you know why you need business credit, you need to know how to get it.  Like I said, there is more to it than just applying for credit using your business name.  Your business has to be set up a certain way. You also have to be intentional about getting accounts that report to business credit rather than personal credit.

For your business to be set up in a way that is conducive to building business credit, it needs to be easily recognizable as a fundable entity separate from the owner.  One of the first steps toward accomplishing that is for the business to have an address different than the owner’s personal address.

The question that most business owners ask about this is, how do you get a business address that isn’t your home address if your business is in your house?  Well, the obvious first option is to get a P.O. Box. That works for some things, but some lenders want to see a physical address. 

Of course, if you are running a business online or from your home, you are wondering how you can do that.  The answer is a virtual office.

What frustrates you the most about funding your business? Check out how our free guide can help. 

What is a Virtual Office and How Does it Work?

According to Investopedia, “A virtual office gives businesses a physical address and office-related services without the overhead of a long lease and administrative staff. With a virtual office, employees can work from anywhere but still have things like a mailing address, phone answering services, meeting rooms, and videoconferencing.”  

Basically, virtual offices operate as a single unit.  Sometimes there is a physical location that has meeting rooms and such available as needed. However, more often it is operated solely online with a physical mailing address and other services you can use, as mentioned above. These services are ideal for those that need a physical address but do not need an actual office. 

3 Stellar Options for Virtual Offices

If You think a virtual office space is best for your business, here are three top options to help get you started. 

Davinci

Davinci offers a prime business address with options to hire a receptionist, book meeting space, and live chat.  Prices are variable. Call for a quote or go here to learn more. 

Alliance Virtual Offices

Alliance offers a physical address, office space, mail services, and phone answering services starting at $125.  Go here to learn more. 

Regus

In addition to virtual office services, Regus has options for meeting rooms and more.  Find out more here. 

What Else Matters: 5 Other Things You Didn’t Know Make a different When Starting Business Credit

Separating your business from yourself for the purpose of starting business credit takes more than having a separate business address. Here are some other steps that you must take to make your business appear fundable on its own to lenders. 

Startup Biz Credit Suite

You Need a Business Phone Number Before Starting Business Credit

This is for pretty much the same reason that you need a business address that is different from your own.  Your address and phone number are both identifying factors that point back to your personal credit report. If you associate them with your business, you run the risk of business accounts reporting on personal credit. 

Your business phone number should be toll-free, and it needs to be listed in the business directories.  You can handle this at: http://www.listyourself.net/ListYourself/

You Need a Professional Business Website Before Starting Business Credit

Think about it.  In today’s world, if you aren’t online do you really even exist?  The first place anyone looks for anything is online. Having a business website is a must.  You can’t just throw something together though. It is essential that the website be user friendly and well put together.  It is almost always worth it to pay a professional to handle this. Oh, and don’t use a free hosting service. That does not look professional.  Pay for hosting through a service like GoDaddy.

You Need a Dedicated Business Email Address Before Starting Business Credit 

This goes along with the other separate business contact information.  Don’t use your personal email address as your business email. Also, make sure your business email has the same URL as your website.  A free email service such as Yahoo or Gmail will not serve you as well. 

Your Business Needs to Formally Incorporate Before Building Business Credit

If you operate as a sole proprietor or a partnership, there will never be enough separation between you and your business to build separate business credit.  You need to formally incorporate as either a corporation, an S-corp, or an LLC. Here is a little more information about each of these options.

Corporation

 This is the most expensive option, but it also offers the most protection from liability. There is a double taxation caveat with this option that is a turn off for most. Owners pay tax at both the business level and the shareholder level. In some cases, this is the best option anyway. 

 S-Corp

 S-Corps are very similar to corporations, but double taxation isn’t an issue. There are also limits on the number of shareholders allowed among other restrictions set forth by the IRS. 

 LLC

 An LLC, or a limited liability corporation, is the least expensive option. It still offers some liability protection, and has fewer restrictions than an S-corp. 

Each of these options serves the purpose of further separating the business from the owner when you are looking to start a business credit profile. The option you choose should be the one that best suits your needs for tax purposes. 

You Need a Business Bank Account to Start Business Credit Building

Another common practice of small business owners is to use their personal bank account for business funds.  While in the beginning this seems like the best option simply because it is easy, it further mingles your personal information with your business information.  Not only that, but it makes separating business expenses from personal expenses at tax time very hard. 

You need a separate business account.  When it comes to starting business credit, this helps in two ways.  First, it helps to separate the business from the owner. Also, so lenders want to see a certain balance in a business bank account before approving credit.  

Other Things You Need to Know Before Starting Business Credit

In addition to the things mentioned above, there are a few other steps you need to take to set up your business for starting business credit. 

The EIN Wins in the Battle of EIN vs. SSN When Starting Business Credit

And EIN is the business equivalent of a social security number. If you use your SSN to apply for credit for your business, your personal credit will get involved. By using a unique identification number specifically for the business, you ensure that your business is separate from your SSN. You can get an EIN for free here. 

You Have to Have a D-U-N-S Number to Have Business Credit

Here’s why.  Dun & Bradstreet is the largest and most commonly used business credit reporting agency.  If you do no have a D-U-N-S number, you cannot have a business credit file with them. You definitely need a business credit profile with D & B.

Choose Creditors that Work with the SBFE

The SBFE is a not-for-profit entity that gathers data on small businesses from its members. The data is then used to compile comprehensive credit information. Lenders that are SBFE members have access to this information.  They use this information to make credit decisions.

The Small Business Finance Exchange does not lend money. It also does not create or distribute credit reports. What is does do is collect information from lender members on their borrowers.  That information is then passed to D&B and Equifax. This means if you are doing business with SBFE members, you know your credit information is being reported, at least to those lenders that are members of the SBFE. Find out more about the SBFE here. 

What frustrates you the most about funding your business? Check out how our free guide can help. 

Other Ways to Get Accounts Reporting To Your Business Credit Report

Once you have your business set up properly, you can start to build business credit.  If you do not already have strong business credit, you will have to start at the bottom credit tier, known as the vendor credit tier.  These are starter vendors that will offer net terms on invoices without checking your credit. Then they will report your payments to the credit reporting agencies.   However, they will often want to see an EIN, business bank account, or a listing in the business directories along with a certain amount of time in business or annual revenue.  This is just one reason why setting up your business properly is so important. 

After you get a few of these accounts reporting, you can apply for credit in the next tier, which is the retail credit tier.  These are cards that you can only use in the stores that issue them, like a Best Buy card or an Office Depot card.  

Once you have several of these accounts reporting positive payment history, you can apply for cards in the fleet credit tier.  Those are cards from companies like Shell or Fuelman that can only be used for fuel and auto repair and maintenance.  

Get enough cards from the fleet credit tier, and you can move on up to the cash credit tier.  These are the cards that do not have limits on where you can use them or what types of expenses you can use them to pay.  This is the top tier, and once you hit it you will see your business credit score start to grow like a snowball rolling downhill.  That is, of course, if you handle your credit responsibly.

Not Having a Business Address can Kill Your Chances of Starting Business Credit 

There is so much more to getting business credit than having a separate business address.  However, if you have everything you need and you do not have a business address, that lack could definitely throw a kink in the process. Remember, you don’t have to have a separate location, just a separate address. Then make sure everything else is set up to separate your business from yourself.  After that, you can start building strong business credit. The funding you need to run and grow your business will be right there when you need it.  

 

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