Day: February 10, 2022

Check Out These Tier 4 Business Credit Vendors That Can Help Strengthen Your Business Credit Score

At Credit Suite, we talk about building business credit by working through the vendor credit tiers. These tiers are how we classify vendors based on their ease of credit approval. Tier 1 vendors are likely to extend net terms based on meeting some basic Fundability guidelines. Meanwhile, Tier 4 vendors are likely to require a strong PAYDEX, among other things.

Are Tier 4 Business Credit Vendors Really Necessary?

First, not all vendors fall into tiers. Tiered vendors report payments to at least one business credit reporting agency. Vendors that do not report do not fall into a tier.  However, don’t discount them. They can still be very useful to your business.

Vendor credit as a whole is important to building a strong business credit portfolio. Still, we get questions from potential clients wondering if it is necessary to work the tiers in order.  Furthermore, is it necessary to have accounts from all the tiers?  Can you just get accounts in Tiers 1 and 2 and then stop?

It seems to some that if you have enough accounts in Tier 1 and Tier 2 to qualify for Tier 3 vendors, that should be enough. Enough for what though? Yes, you may have a decent business credit score at this point, but these accounts are not going to be enough to properly fund your business.  After all, that is the point of a strong business credit score. The goal is to qualify for as much funding as possible to run and grow your business.

Do You Have to Work Through the Business Credit Tiers in Order?

There are those out there that hold the idea that there is no need to work through the tiers. Some business owners will tell you they were able to skip straight to Tier 4 without applying for credit from vendors in tiers 1-3 first. Honestly, it’s possible.

If you have a large amount of income or want to use a personal guarantee, and if you have a long time in business, you MAY be able to get credit from Tier 4 vendors and even credit cards, without working through the other tiers.

So What’s the Point?

The whole point of the Credit Suite vendor tiers is to help our customers mix-up the “secret sauce” of business credit. Building business credit this way allows you to limit using a personal guarantee and protect your consumer credit.

It also allows for you to build your business credit portfolio and your business credit score at the same time. Even better, this way allows your business to scale and grow faster, because you can use the funding for things you need while you are building business credit.  Vendor accounts can help with a number of expenses including marketing, inventory, supplies, and more.

You do not have to incur large amounts of personal loans from the beginning.  There is no need to wait until you reach a certain point to start utilizing credit in the name of your business. Rather, you can work on building business credit and use business credit from the beginning. As you do so responsibly, you will begin to qualify for vendors that offer more money and better terms, hence the other tiers.

By continuing on with Tier 4 business credit vendors, you will have more access to what you need to run your business, expand your business credit portfolio, and continue building your business credit.

Tier 4 Business Credit Vendors

These vendors require a strong business credit score for approval, but they also report payment history to the business credit reporting agencies. Here are a few examples.

Ally Car Financing Through Credit Suite

Ally provides personal financing, but they will also report to business credit bureaus. If your business qualifies for financing without the owner’s guarantee, you can get financing in the business name only.  They  will report to Experian and Equifax.

Ally offers a Commercial Line of Credit. To qualify, you need:

  • To be an entity in good standing with the Secretary of State
  • An EIN
  • A business address- matching everywhere
  • A D-U-N-S number
  • All business licenses (if applicable)
  • A business bank account
  • Bank reference
  • Fleet financing references

If a personal guarantee is used Ally will not report to the personal credit bureaus unless the account defaults.

You can also get a lease or a loan through Ally.

To qualify, you need:

  • To be an entity in good standing with the Secretary of State
  • An EIN
  • A business address- matching everywhere
  • A D-U-N-S number
  • All business licenses (if applicable)
  • A business bank account

There is no minimum time in business requirement.

You can only apply in person, and the dealer will let you know if you are approved or if a Personal Guarantee (PG) is necessary.

Brex

Brex is a business money management system that integrates with your accounting software. It allows you to track expenses and, depending on the level of service you choose, can also help with paying bills and controlling spending.

The easiest way to use Brex for both managing finances and building business credit is to open a Brex Cash account. Brex is not a bank, but rather a banking alternative. They do have a partnership with the FDIC, so your funds are secure,

They have a couple of options, but the one that falls into Tier 4 is similar to a traditional business credit card when it comes to limits. Instead of checking your personal credit score, they base approval and credit limits on business financial information.  This may include available cash, spending patterns, and more.

If you qualify for this card, your entire balance will be paid monthly.  This makes it more like net financing, as you cannot carry a balance. Brex requires an average bank balance of $1M to qualify for net 30 terms.

Ford Commercial Vehicle Financing Through Credit Suite

Ford offers several commercial vehicle financing options. These include loans, lines, and leases to actual business entities. You can get a loan or a lease.

They may ask for a Personal Guarantee (PG) if you are not approved on the merit of your application. Ford will report to D&B, Experian, and Equifax. To qualify, you need:

  • To be an entity in good standing with Secretary of State
  • An EIN
  • A business address- matching everywhere
  • A D-U-N-S number
  • All needed business license(s)
  • A business bank account
  • Strong business credit history
  • A good Experian business credit score

Frost Bank Business Rewards Credit Card

Frost bank requires $5M annual revenue to avoid PG. Also, you have to apply in person. If you apply online a PG may be required regardless. They only offer financing to current customers, and there is no minimum time in business requirement.

Don’t Stop Building Business Credit

Business credit is something you continue to build upon and improve, not a path to a final destination. This is much like a business itself, and the two go hand in hand of course. You want your business to continue to grow and thrive indefinitely, and tier 4 business credit vendors can help with that.

The post Check Out These Tier 4 Business Credit Vendors That Can Help Strengthen Your Business Credit Score appeared first on Credit Suite.

Red Bull name new title sponsor in $500m deal

The Red Bull Formula One team has secured a new title sponsorship worth around $500 million with technology firm Oracle, placing it among the most lucrative commercial deals in sports.

The post Red Bull name new title sponsor in $500m deal appeared first on Buy It At A Bargain – Deals And Reviews.

Cris Collinsworth calls Ja'Marr Chase 'the best receiver' to put on Bengals uniform

Cincinnati Bengals rookie wideout Ja’Marr Chase took the league by storm.

The post Cris Collinsworth calls Ja'Marr Chase 'the best receiver' to put on Bengals uniform appeared first on Get Funding For Your Business And Ventures.

The post Cris Collinsworth calls Ja'Marr Chase 'the best receiver' to put on Bengals uniform appeared first on Buy It At A Bargain – Deals And Reviews.

New comment by g-clef in "Ask HN: Who is hiring? (February 2022)"

DomainTools | Engineering & Operations | REMOTE | Full-time | https://www.domaintools.com/company/join-our-team/#open-posi…

DomainTools (domaintools.com) is hiring for multiple positions. We’re a mid-sized security company whose goal is to make the internet a safer place. Our part of that (enormous) job is knowing everything we can know about the Internet’s DNS (where domains resolve, who registered them, etc), to help security teams investigate malicious sites/pages/etc. The positions we’ve got open are remote. The positions are:

* Senior Data Product Manager – This position will serve as the product “owner” for a set of DomainTools’ data products, including our PassiveDNS, Data APIs, and data feeds. This position will be defining and the roadmaps for these products, working with our architecture & research teams to see how this data could be used in the future, and working with customers to understand what the outside world wants from these products.

* Software Engineer – Cloud & DevOps Platform – This position will research, develop and deliver cloud automation using tools like Kubernetes, Terraform, Argo, Vault, and Kafka. This position is basically building the base that the other engineering teams deploy onto, with the goal to make everyone’s lives easier and more consistent.

* Integrations Engineer – This position will work with our product and engineering teams to integrate our data into other security products (Splunk, for example). It will touch a very diverse cross-section of the tools in the security space, as DomainTools wants to make sure our data is easily usable in a wide variety of places that teams may want to use it in. The position primarily works in python and Javascript, but may use others as needed (or customer/application requires).

* Senior Software Engineer and Software Developer Engineer-2 – These two positions are on the team I’ve been part of for the past 2 years. They’re on the backend team, building systems to collect data about the entire internet (track the state of all domain names on the ‘net, take screenshots of all of them, etc). The teams work primarily in python and golang, deploying services to kubernetes.

* Systems Engineer – This position is with our TechOps team, supporting the operation of our on-prem and cloud applications. This position supports production systems using Cassandra, Kafka, ElasticSearch, Linux, etc.

To apply, go here: https://www.domaintools.com/company/join-our-team/#open-posi…

If you have any questions, I’m happy to answer them. If you feel like any of these sound interesting but are a stretch for you, drop me a line at ageeclough ..at.. domaintools.com, I’d love to talk with you.

New comment by ChrisRackauckas in "Ask HN: Who is hiring? (February 2022)"

Julia Computing – Systems Programmer (Remote)

We are looking for somebody to help develop the Julia language runtime, libraries, and system interface. This work will have a direct impact on our goal of allowing users to write simple, high-level code and deploy their programs under a range of requirements. Possible areas of focus include performance engineering, I/O subsystem design, and tooling for building and modifying dynamic libraries. You will get to publish most of your work as open source, and many of the projects are already present in the julia code repository on GitHub.

Skills:

– Expert-level C programming is essential, and some C++ knowledge is a plus

– Knowledge of Linux internals

– Windows and macOS knowledge is a plus but not required

Ideally will have experience with topics such as: kernel development, language runtime development, debugging program faults, benchmarking and performance analysis, threading systems, particularly scheduling and synchronizing, IO and networking theories (e.g. queueing and back-pressure), libc specifics and their quirks, dynamic linkers and their quirks, and/or build systems.

For more details and to apply, please see: https://jobs.juliacomputing.com/jobs/UeCcBYF-k4fp/systems-pr…

Justice Department Says It Seized $3.6 Billion Worth of Bitcoin Stolen in 2016 Hack

The value of the bitcoin at the time it was seized last week marks the department’s largest-ever financial seizure, officials said. The post Justice Department Says It Seized $3.6 Billion Worth of Bitcoin Stolen in 2016 Hack first appeared on Online Web Store Site.