Day: March 26, 2020

New comment by peterbozso in "Ask HN: Who wants to be hired right now?"

Location: Europe (UTC + 1) – other reasonable timezones work as well

Remote: yes, exclusively

Willing to relocate: no

Technologies: React, ASP.NET Core, Microsoft Bot Framework, Azure DevOps, Azure

Résumé/CV: https://1drv.ms/b/s!AtBCTTIe2cmFh8Am4ZN6-GYDRWN-Lg

Email: peter.bozso@outlook.com

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Canadian GP must decide race fate by Easter weekend

Organisers of the Canadian Grand Prix, due to take place in mid-June, say they must make a decision on whether to postpone or cancel their race by the Easter weekend of April 11/12.

The post Canadian GP must decide race fate by Easter weekend appeared first on Buy It At A Bargain – Deals And Reviews.

ebay.com Sellers: The Importance of Paying Your ebay.com Fees in a timely manner

ebay.com Sellers: The Importance of Paying Your ebay.com Fees on schedule

Are you an ebay.com vendor? One of the essential points to keep in mind, when offering on ebay.com, is the relevance of paying your ebay.com costs on time.

When it comes to paying your ebay.com charges on time, there are a huge number of vendors that ask yourself precisely why it is so essential. As an ebay.com vendor, those effects might be expensive to you.

One of the most typical effects of not paying your ebay.com costs on time entails having your ebay.com vendor account put on hold. That is why it is exceptionally essential that you pay your ebay.com costs on time.

When paying your ebay.com charges, all you truly require to do is log right into your account, go to the web link classified “ebay.com costs,” as well as comply with the directions from there. When it comes time to pay your ebay.com costs, ebay.com ought to send you a billing, yet you do not have to wait till you get that billing.

When you initially arrangement your ebay.com account, you have the choice of having your charges subtracted right from your debt card, which you might have utilized to aid arrangement your cost-free ebay.com account. Or, you might stick paying your charges on your very own, whenever they are due.

As you can see from above, there are a variety of various manner ins which you can tackle paying your ebay.com vendor charges. You will certainly desire to most definitely make certain that you pay your charges on time if you are an energetic ebay.com vendor or one that depends on ebay.com for revenue. Given that you have a variety of various means to tackle doing so, there isn’t any kind of reason that you can not pay your ebay.com charges and also in a rather prompt issue.

One of the essential points to bear in mind, when marketing on ebay.com, is the value of paying your ebay.com costs on time.

One of the most typical repercussions of not paying your ebay.com costs on time entails having your ebay.com vendor account put on hold. When paying your ebay.com charges, all you actually require to do is log right into your account, go to the web link identified “ebay.com charges,” and also comply with the guidelines from there. When it comes time to pay your ebay.com costs, ebay.com ought to send you a billing, yet you do not have to wait till you get that billing. If you are an energetic ebay.com vendor or one that counts on ebay.com for revenue, you will certainly desire to most definitely make certain that you pay your costs on time.

The post ebay.com Sellers: The Importance of Paying Your ebay.com Fees in a timely manner appeared first on ROI Credit Builders.

Business Credit Cards Bad Personal Credit

Are you looking for business credit cards bad personal credit?

The Absolute Best Business Credit Cards Bad Personal Credit

We researched a ton of company credit cards for you. So, here are our picks.

Per the SBA, small business credit card limits are a whopping 10 – 100 times that of consumer credit cards!

This reveals you can get a lot more cash with small business credit. And it also means you can have personal credit cards at retail stores. So, you would now have an extra card at the same stores for your company.

And you will not need collateral, cash flow, or financial data to get business credit.

Business Credit Cards Bad Personal Credit: Benefits

Benefits vary. So, make certain to select the benefit you like from this choice of options.

Get a Business Credit Cards Bad Personal Credit

Capital One® Spark® Classic for Business 

For fair credit, we like the Capital One Spark Classic for Business. It has no yearly fee. There are cash-back rewards. The card gets an unlimited 1% cash back on all purchases. There is an annual fee of $0.

With this card, you will get benefits including an auto rental collision damage waiver, and purchase security. And you also get extended warranty coverage. And you get travel and emergency assistance services.

But REMEMBER: the ongoing APR is 24.74% variable APR. And the penalty APR is even higher, 31.15%. Also, there is no sign-up bonus. In addition, this card reports monthly to personal credit. It does report to business credit as well, but they generally require a personal credit check and will always report to personal credit.

Get it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/ 

Get Secured Business Credit Cards Bad Personal Credit 

Wells Fargo Business Secured Credit Card

Look at the Wells Fargo Business Secured Credit Card. It charges a $25 yearly fee per card (up to 10 employee cards). It also requires a minimum security deposit of $500 (up to $25,000) and it is meant to help cardholders develop or rebuild their credit.

Pick this card if you wish to earn 1.5% per dollar in purchases without any limits or get one point for every dollar in purchases. You also earn 1,000 bonus points for every month your company makes $1,000 in purchases on the card.

Details

Also, you get free FICO scores every month. There are no foreign transaction fees. It is possible to upgrade to unsecured credit. Your account is regularly reviewed. And you may become eligible for an upgrade to an unsecured card with responsible use over time. Approval is not guaranteed and depends on factors including how you manage this and your other accounts.

APR is the current prime rate plus 11.90%. There is no introductory APR period and no sign-up bonus. This is not a credit card for balance transfers.

Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/ 

Credit Builder Company Credit Cards – Make Your Credit Surge!

Discover it® Student Cash Back

Be sure to check out the Discover it® Student Cash Back card. It has no yearly fee. The credit card also has a six-month introductory period of 0% APR on purchases. And there is an APR of 14.99 – 23.99% variable on all purchases after that period.

One special feature is that it provides an incentive for scholars to maintain good grades with a $20 statement credit. If students earn a GPA of 3.0 or better each school year, the card will award the $20 statement credit each year for up to five years.

Details

Use this card to build personal credit. While this is a personal credit card versus a company credit card, for new credit users, their FICO scores will be vital. And this card provides an outstanding way to raise FICO while also getting rewards. Better personal credit can also, often, be the key to unlocking online lending.

You can earn 5% cash back at different places each quarter like grocery stores, gas stations, restaurants or Amazon.com up to the quarterly maximum. After that, this credit card offers unlimited 1% cash back on all purchases.

In the initial year, all cash back rewards are matched 100%.

Downsides include a cash advance fee of either $10 or 5% of the amount of each cash advance, whichever is more. And even though they waive the first late payment fee, a fee of up to $37 applies on all other late payments. There is also a returned payment fee of up to $37.

Get it here: https://www.discover.com/credit-cards/cash-back/it-card.html 

Business Credit Cards Bad Personal Credit with 0% APR – Pay Zero!

Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card 

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has no annual fee and comes with a 0% introductory APR on purchases for the first nine months. Thereafter, the card has a 13.24 – 23.24% variable APR

Earn 3 points/dollar spent when you book travel through the Bank of America Travel Center and 1.5 points/dollar on all other purchases. You can earn unlimited points and points will never expire.

Details

There is a 25,000-point sign-up bonus when you spend $1,000 within the initial 60 days of opening the account. Cardholders get travel accident insurance, and lost luggage reimbursement. 

They also get trip cancellation coverage, trip delay reimbursement and other benefits.

There is no introductory rate for balance transfers. Also, bonus categories are limited.

Get it here: https://www.bankofamerica.com/smallbusiness/credit-cards/products/travel-rewards-business-credit-card/ 

JetBlue Plus Card

Check out the JetBlue Plus Card for one more offer of a 0% introductory APR

Earn six points/dollar on JetBlue purchases, two points/dollar at eateries and grocery stores. And get one point/dollar on all other purchases. 

Details

Spend $1,000 in the initial 90 days and pay the annual fee. So, then you can earn 40,000 bonus points. New cardholders receive a 12-month, 0% introductory APR on balance transfers made within 45 days of account opening.

Thereafter, the variable APR on purchases and balance transfers is 17.99%, 21.99% or 26.99%, based upon creditworthiness. Benefits include a free first checked bag and 50% savings on in-flight purchases.

There is a $99 yearly fee for this card.

Get it here: https://cards.barclaycardus.com/cards/jetblue-card/   

Business Credit Cards Bad Personal Credit Suite

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Business Credit Cards Bad Personal Credit with No Annual Fee 

Uber Visa Card 

Check out the Uber Visa Card. Uber is the very first ride-sharing service to offer a credit card, in a partnership with Visa and Barclays.

The card provides 4% back per dollar spent at restaurants, takeout and bars, including UberEATS. Also, get 3% back on hotel, airfare and vacation home rentals. And earn 2% back on online purchases. 

So, this includes retailers and subscription services like Uber and Netflix. And earn 1% back on all other purchases. Each percent/point has a value of 1 cent. Redeem points for cash back, gift cards or Uber credits directly in the app.

By spending at least $500 in the first 90 days, users can earn a $100 sign-up bonus. Cardholders spending at least $5,000 per year are eligible to receive a $50 credit toward online subscription services. 

Details

If you pay your cellular phone bill with this card, you are insured up to $600 for cellphone damage or theft.

Cardholders are eligible for exclusive access to certain events and offers. Uber anticipates most of these offers to be available in major cities like New York, San Francisco, Los Angeles, Chicago and DC. There is no foreign transaction fee.

But there is no introductory rate. So, the APR is a variable 16.99%, 22.74% or 25.74%, based on your creditworthiness. Cardholders with less than stellar credit will be on the higher end of the range. 

Also, there are restrictions on Uber credits. To redeem points as credits within the Uber app, accumulate at least 500 points, or $5. Cardholders can convert a maximum of 50,000 points, or $500, per day.

Get it here: https://www.uber.com/c/uber-credit-card/ 

Costco Anywhere Visa® Business Card by Citi 

Not taking Uber? Then you’ll need to fill your gas tank someway. Why not do so with the Costco Anywhere Visa® Business Card by Citi?

This credit card earns cash back with every purchase. Earn 4% cash back on the first $7,000 spent on eligible gas purchases annually (1% after that). Get 3% cash back at restaurants and on eligible travel purchases. Also, get 2% cash back at Costco and Costco.com. And earn 1% cash back on all other purchases.

So, note: the $0 annual fee is only for Costco members. And an active Costco membership is required. Cardholders will get access to damage and theft purchase protection, extended warranty coverage and travel accident insurance.

Also, there is no sign-up bonus offered with this card.

Get it here: https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=Citi-costco-anywhere-visa-business-credit-card

Ink Business Cash℠ Credit Card

Check out the Ink Business Cash ℠ Credit Card. Companies can earn cash back with every single purchase. Spend $3,000 in the initial three months from account opening. And you’ll get a $500 bonus cash back.

There is a $0 annual fee with a 0% introductory APR for 12 months on purchases and balance transfers. Afterwards, the APR is a 15.24 – 21.24% variable. 

The credit card comes with travel and purchase coverage benefits. So, this includes an auto rental collision damage waiver and extended warranty protection.

Details

Earn additional cash back on business categories. So, these include office supply stores, telecommunications, gas stations and restaurants.

Note: this card has a balance transfer fee. Pay 5% of the amount transferred or $5, whichever is greater. Also, there is a foreign transaction fee of 3%.

Get it here: https://creditcards.chase.com/small-business-credit-cards/ink-cash 

United MileagePlus Explorer Business Card

Get a good look at the United MileagePlus Explorer Business Card.

Earn 2 miles/dollar with United and at restaurants, filling stations and office supply stores. All other purchases get 1 mile/dollar. Earn a 50,000-mile sign-up bonus after spending $3,000 in the first three months from account opening. 

Benefits include priority boarding, a free first checked bag for you and a companion on the same reservation.

Details

Also, get two United Club passes annually. And get hotel and resort perks including upgrades. Additionally, get early check-in and late checkout. And get an auto rental collision damage waiver. 

Plus, get baggage delay insurance, lost luggage reimbursement, trip cancellation and interruption insurance. Finally, get trip delay reimbursement, purchase protection, price protection and concierge service.

After the first year, the card has an annual fee of $95. APR of 17.99% – 24.99%, based on creditworthiness.

Get it here: https://creditcards.chase.com/small-business-credit-cards/united-mileageplus-explorer-business 

Starwood Preferred Guest® Business Credit Card from American Express

Another choice is the Starwood Preferred Guest Business Credit Card from American Express. 

This credit card is for those who stay at Starwood Preferred Guest and Marriott hotels often. Earn six points per dollar of eligible purchases at participating SPG and Marriott Rewards hotels.

And earn four points per dollar at US restaurants, American filling stations, and on American purchases for shipping. 

Also, earn four points to the dollar on wireless telephone services purchased directly from US service providers. For all other eligible purchases, get two points per dollar.

Details

Get 75,000 bonus points when you spend $3,000 in the initial three months of account opening. Benefits include free in-room premium internet access, Sheraton Club lounge access, and purchase protection. 

Plus, you get car rental loss and damage insurance. And you get baggage insurance. There is also a global assistance hotline. And there is a roadside assistance hotline. And get travel accident insurance and extended warranty coverage.

The most significant issue is the annual fee. There is a $0 introductory annual fee for the first year, then it’s $95 afterwards. Plus, there is no 0% introductory APR. Instead, there is a 17.74 – 26.74% variable APR

Get it here: https://www.americanexpress.com/us/credit-cards/business/business-credit-cards/spg-amex-starwood-credit-card 

Business Credit Cards Bad Personal Credit for Low APR/Balance Transfers

Discover it® Cash Back

Check out the Discover it® Cash Back card. There is a 10.99% introductory APR for six months from date of first transfer. So, this is for transfers under this offer which post to your account by January 10, 2019.

After the introductory APR expires, your APR will be 14.99% to 23.99%. So, this is based on your creditworthiness. Your APR will vary with the market, which is based upon the Prime Rate.

Details

You can get 5% cash back at different places every quarter. So, these are establishments like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs. But this is up to the quarterly maximum each time you activate. In addition, automatically get unlimited 1% cash back on all other purchases.

You will earn an unlimited dollar-for-dollar match of all the cash back you have earned at the end of your first year, automatically.

Get it here: https://www.discover.com/credit-cards/cash-back/it-card.html 

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Business Credit Cards Bad Personal Credit Suite

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Business Credit Cards Bad Personal Credit for Cash Back

SimplyCash Plus Business Credit Card from American Express

Check out the SimplyCash Plus Business Credit Card from American Express. There is a $0 yearly fee. And there is a 0% APR on purchases. So this is for the initial 15 months an account is open. 

But when the introductory period ends, the APR for purchases is 14.24 to 21.24%. So, this is variable and based on creditworthiness.

Details

This credit card has several benefits. These include purchase protection, car rental loss and damage insurance. And they also include a baggage insurance plan, extended warranty coverage and a global assist hotline.

Also, earn 5% cash back at US office supply stores and on wireless telephone services. So, these must be purchased from American service providers. But this pertains to the initial $50,000 of yearly spending. Then, you earn 1% cash back.

You also get 3% cash back on spending category of your choice. So, this is from eight distinct categories. They include airfare, gas, advertising and computer purchases. But it applies to the first $50,000 of yearly spending. Then, you get 1% cash back.

Cash-back bonuses are automatically credited to the customer’s billing statement.

Note: you cannot use this credit card for balance transfers. There is a foreign transaction fee of 2.7%. The credit card charges up to $38 in late fees. And the returned check fee is also $38. The penalty APR is 29.99%. 

And, it applies if you have two or more late payments within 12 months. It can also apply if you fail to make the minimum payment on time or have a returned payment.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/simply-cash-plus-business-credit-card/44279 

Capital One® Quicksilver® Card 

Check out the Capital One® Quicksilver® Card. It offers flat-rate rewards of 1.5% on all purchases. There are no limits to the amount of cash back rewards that cardholders can earn. Also, the card has a $0 yearly fee.

New cardholders have a 0% APR on purchases and balance transfers for the first 15 months after opening the account. Then afterwards they have a 14.74 – 24.74% (variable) APR after that. 

A cash bonus of $150 is on offer for those who make at the very least $500 in purchases within 3 months of account opening.

Details

Also, cash back rewards do not expire for the life of the account. And there is no limit to how much you can earn.

This credit card also offers travel accident insurance. And you get an auto rental collision damage waiver. There are no foreign transaction fees. And there is extended warranty coverage.

Downsides are the flat reward rate, not allowing for any more than that. And the higher APR after the first 15 months.

Get it here: https://www.capitalone.com/credit-cards/quicksilver/ 

Cards Bad Consumer Credit Suite

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Business Credit Cards Bad Personal Credit for Jackpot Rewards

Ink Business Preferred ℠ Credit Card

Get a look at the Ink Business Preferred Credit Card from Chase. Cardholders earn 3 points for every dollar spent on travel, shipping, internet, cable, phone and qualifying advertising with the card. So, this is up to $150,000 each year. And all other purchases earn an unlimited one point per dollar spent.

This is a Visa credit card.

Cardholders get benefits like purchase protection, trip cancellation or interruption insurance. They also get cellphone protection. And they get extended warranty coverage. And they get an auto rental collision damage waiver.

Details

Earn 80,000 bonus points when you spend $5,000 in the initial 3 months from account opening. There is an annual fee of $95. You can add employee credit cards at no additional cost.

This credit card only offers 3 points per dollar to a limit of $150,000 a year. So, this is for travel, shipping, internet, cable, phone and qualifying advertising. All other purchases earn an unlimited flat rate of one point per dollar. And there is no introductory APR

Get it here: https://creditcards.chase.com/small-business-credit-cards/ink-business-preferred 

Small Business Credit Cards for Luxurious Travel Points

IHG ® Rewards Club Premier Credit Card

Check out the IHG ® Rewards Club Premier Credit Card. it earns hotel rewards worldwide. For each dollar spent at participating IHG hotels, get 10 points. Earn two points per dollar spent at gas stations, grocery stores and restaurants. 

Plus, all other purchases earn one point. New cardholders can earn an 80,000-point sign-up bonus when they spend $2,000 in the first three months of account opening.

Details

This card provides a free one-night hotel stay each year. Plus, there is a wide array of benefits. They include travel and purchase coverage. And get an upgrade to Platinum Elite status with the IHG Rewards Club. The club offers complimentary room upgrades when available and guaranteed room availability.

The biggest issue is that the card does not have a zero percent APR introductory rate. And the standard APR is 17.99 – 24.99% variable. Also, the yearly fee is $89.

Get it here: https://creditcards.chase.com/a1/ihg/premiernaep 

Marriott Rewards® Premier Plus Credit Card

This card earns six points/dollar spent at participating Marriott and SPG hotels. And get two points/dollar on all other purchases. 

Spend $3,000 in the initial three months from account opening. Then you can get two free night awards. These are each worth up to 35,000 points. 

Cardholders get access to perks including a free one-night stay annually after account anniversary. Also get travel and purchase protection. So, this includes free standard in-room Wi-Fi and priority late checkout.

Details

Perks include baggage delay reimbursement, and lost luggage reimbursement. There is also trip delay reimbursement. And there is purchase protection. And also, there are concierge service and automatic Silver Elite status, which includes a 20% bonus on points. 

Spend $35,000 each account year and get an upgrade to Gold Elite status. So, that includes a complimentary room upgrade, free daily breakfast and 4 PM late checkout.

There is an annual fee of $95. The APR is a 17.99– 24.99% variable.

Get it here: https://creditcards.chase.com/marriott/apply 

The Best Business Credit Cards Bad Personal Credit for You

Your outright best business credit cards bad personal credit will hinge on your credit history and scores.

Only you can select which features you want and need. So, be sure to do your homework. What is excellent for you could be disastrous for others.

And, as always, make sure to establish credit in the recommended order for the best, fastest benefits.

The post Business Credit Cards Bad Personal Credit appeared first on Credit Suite.

What is Fundability in Reference to Business Credit

As a business owner, you may be beginning to hear the word fundability a lot.  It may come from lenders, various media platforms, or your own current creditors.  What is fundability? What does fundability really mean in relation to business credit?  Fundability in reference to business credit is how lenders see your business when considering whether or not to lend money. 

What Affects Fundability in Reference to Business Credit

It is one this to know what fundability is.  Understanding what is means when it comes to business credit is another thing altogether.  What does fundability look like practically when trying to get business funding? 

When discussing fundability in reference to business credit, we are looking more at what credit issuers and loan providers want to see. 

Find out why so many companies use our proven methods to get business loans.

Why Does Fundability in Reference to Business Credit Even Matter?fundable for corporate credit Credit Suite

All businesses need funding. However, there is more than one way to get it.   

(1) Grants

(2) Selling assets such as land, vehicles, equipment, or office space in buildings 

(3) Crowdfunding

(4) Angel investing or venture capital payments, or

(5) Loans

When we talk about fundability in reference to business credit, we are talking about loans and other forms of debt. I mean, lenders are not going to hand out money to just anyone.  Instead, they want to see if a business is a good credit risk. They need to know they will make money.

What Makes a Business Fundable in Reference to Business Credit? 

There are way more factors that contribute to fundability in reference to business credit than most realize.  You see, it is a complicated web that intertwines your personal life with your business in ways you may never truly understand.  We try to break it down here. 

Fundability in Reference to Business Credit: It Starts at the Beginning

Fundability, in reference to business credit, truly starts with how your business is set up. If your business is not already set up in the following way, it isn’t as fundable as it could be. 

Contact Information

The first step to setting up a fundable business is to ensure your business has its own business phone number, fax number, and business address.   That doesn’t mean you have to get a separate phone line, or even a separate location.  You can still run your business from your home or on your computer. 

EIN

The next thing you need to do is get an EIN for your business.  This is an identifying number for your business that works in a way similar to how your SSN works for you personally.  You can get one for free from the IRS.

Incorporate

Incorporating your business as an LLC, S-corp, or corporation is necessary to fundability.  It lends credence to your business as one that is legitimate. It also offers some protection from liability. 

Time in business affects fundability also, and that starts at the point of incorporation.

Business Bank Account

You have to open a separate, dedicated business bank account.  There are a few reasons for this.  First, it will make keeping personal and business expenses separate for tax purposes much easier.  Next, it will help provide separation between the business and you as the owner for business credit building. There are many other reasons as well. 

Licenses

Business licenses are necessary for a business to be legitimate.  If it doesn’t, red flags are going to fly up all over the place.  Do the research you need to do to ensure you have all of the licenses necessary to legitimately run your business at the federal, state, and local levels. 

Website

I am sure you are wondering how a business website can affect your ability to get funding.  Here’s the thing.  These days, you do not exist if you do not have a website. However, having a poorly put together website can be even worse.  It is the first impression you make on many, and if it appears to be unprofessional it will not bode well for you with consumers or potential lenders. 

Spend the time and money necessary to ensure your website is professionally designed and works well.  Pay for hosting too. Don’t use a free hosting service.  Along these same lines, your business needs a dedicated business email address.  Make sure it has the same URL as your Website. Don’t use a free service such as Yahoo or Gmail.

Find out why so many companies use our proven methods to get business loans.

Fundability in Reference to Business Credit: After the Set Up

How your business is set up is just the beginning of fundability when considered in reference to business credit. Here are the other things that affect the fundability of your business. 

Business Credit Reports

Your fundability in reference to business credit hinges largely on the information in your business credit report.  That is the credit report, much like your consumer credit report, that details the credit history of your business.  It is a tool to help lenders determine how credit worthy your business is.  

Where do business credit reports come from?  There are a lot of different places.  However, the main ones are Dun & Bradstreet, Experian, Equifax, and FICO SBSS.  Make sure your reports are updated and accurate.  You have no clue which ones your lender will choose to use.  

Other Business Data Agencies 

Some business credit reporting agencies directly calculate and issue credit reports.  There are other business data agencies that affect those reports indirectly.  Two examples are LexisNexis and The Small Business Finance Exchange. These two agencies gather data from a variety of sources, including public records.  This means they could even have access to information relating to automobile accidents and liens. While you may not be able to access or change the data the agencies have on your business, you can ensure that any new information they receive is positive.  Enough positive information can help counteract any negative information from the past. 

Identification Numbers 

In addition to the EIN, there are identifying numbers that go along with your business credit reports.  When considering what is fundability, you need to be aware that these numbers exists.  Some of them are simply assigned by the agency, like the Experian BIN.  One, however, you have to apply to get. It is absolutely necessary that you do this. 

Dun & Bradstreet is the largest and most commonly used business credit reporting agency.  Every credit file in their database has a D-U-N-S number.  To get a D-U-N-S number, you have to apply for one through the D&B website. 

Business Credit History

This is where you really get to the heart of things when it comes to business credit reports.  Your credit history has everything to do with all things related to your credit score.  Of course, your business credit score is a huge factor in the fundability of your business.  

Credit history consists of a number of things including: 

  • How many accounts are reporting payments?
  • How long have you had each account? 
  • What type of accounts are they?
  • How much credit are you using on each account versus how much is available?
  • Are you making your payments on these accounts consistently on-time?

The more accounts you have reporting on-time payments, the stronger your credit score will be. 

Consistency in Business Information

On the surface, it seems obvious that all of your business information should be the same across the board everywhere you use it.  However, when you start changing things up, some things slip through the cracks.  When adding a business phone number and address or incorporating, you can forget to make updates.

This is a problem because of fraud concerns.  Per a 2009 Experian report, fraud-related costs for U. S. businesses are more than $50 billion annually. This could actually understate the extent of the problem, since some estimate up to 30 percent of all bad-debt commercial losses are due to ‘soft’ fraud.  This is usually from material misrepresentation on an application. 

When you consider this, along with the fact that business fraud is estimated to be three to 10 times more profitable than consumer fraud, you can see why it’s a problem. 

Keep your information updated and consistent.  In doing so, you’ll reduce the number for fraud signs sent up by your business. 

Financial Statements

All financial statements count when discussing fundability in relation to business credit.  First, there is the obvious. Both your personal and business tax returns need to be in order.  Not only that, but you need to be paying your taxes, both business and personal.  

Business Financials

Honestly, it is best to have an accounting professional prepare regular financial statements for your business. Having an accountant’s name on financial statements lends credence to the legitimacy of your business. If you cannot afford this monthly or quarterly, at least have professional statements prepared annually. Then, they are at the ready whenever you need to apply for a loan. 

Personal Financials

Sometimes, tax returns for the previous three years will suffice.  Get a tax professional to prepare them.   This is the bare minimum you will need.  Other information lenders may ask for include check stubs and bank statements, among other things. 

Bureaus

Surprisingly, there are several other agencies that hold information related to your personal finances that you need to know about.  Everyone knows about FICO.  Your personal FICO score needs to be as strong as possible. It really can affect business fundability and almost all traditional lenders will look at personal credit in addition to business credit. 

In addition to FICO reporting personal credit, you have ChexSystems.  In the simplest terms, this keeps up with bad check activity and makes a difference when it comes to your bank score.  If you have too many bad checks, you will not be able to open a bank account.  That will cause serious fundability issues. 

Likewise, everything comes into play for this point.  Have you ever been convicted of a crime? Do you have a bankruptcy or short sell on your record?  How about liens or UCC filings? All of this can and will play into the fundability of your business. 

Personal Credit History

Your personal credit score from Experian, Equifax, and Transunion all make a difference.  You have to have your personal credit in order because it will definitely affect the fundability of your business.  Furthermore, if it isn’t great right now, get to work on it.  The number one way to get a strong personal credit score or improve a week one is to make payments consistently on time. 

Also, make sure you monitor your personal credit regularly to ensure mistakes are corrected and that there are no fraudulent accounts being reported. 

Find out why so many companies use our proven methods to get business loans.

The Application Process

Truly, so much plays into this that you may not even think about. For example, consider the timing of the application.  Is your business currently fundable?  If not, do some work first to increase fundability. Next, ensure that your business name, business address, and ownership status are all verifiable.  Lenders will check into it.  Lastly, make sure you choose the right lending product for your business and your needs. Do you need a traditional loan or a line of credit? Would a working capital loan or expansion loan work best for your needs?  Choosing the right product to apply for can make all the difference. 

Fundability is Reference to Business Credit is a Whole New Ballgame for Some 

The concept of fundability in reference to business credit is a new one for some business owners to grasp.  Since business credit and personal credit are totally separate, it is hard to comprehend how one can truly affect the other in terms of fundability. The truth is, while one does not affect the other directly, the indirect effects of all of the above are far reaching.  

Remember, to keep things moving smoothly, it is important to keep an eye on both your personal and business credit report.  You can get a free copy of your personal credit report each year. In addition, there are a number of options for continuous personal credit monitoring for free. 

Now, Business credit monitoring isn’t free.  There are lower cost options for business however, if you know where to look. 

The post What is Fundability in Reference to Business Credit appeared first on Credit Suite.

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