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New comment by jeffmk in "Ask HN: Freelancer? Seeking Freelancer? (July 2019)"

SEEKING WORK – Remote (US-based; UTC-5)

Full-stack developer who can help you build your MVP in a turnkey way (requirements/ongoing communication in, working proof-of-concept, MVP, or early product out).

Looking for projects starting in August 2019 or later, with roughly 1- to 6-month timelines and budgets ~US$20k-100k.

Have worked with clients found via HN for years; references available upon request.

Services:

    - sanity-check and tighten up requirements and scope
    - estimate time/cost to implement
    - design and develop your MVP's tech stack from the data store to the front-end UI
    - perform simple server buildouts
    - integrate with SaaS APIs

Preferred tech stack:

    - Back: Python/Flask, Ruby/Rails, Clojure
    - Data: SQL or NoSQL
    - Front: Responsive HTML5, moderate JavaScript/Vue, ClojureScript
    - Server: Linux VPS or Heroku/AWS

Also do non-MVP web/systems development in Python, Ruby, and Clojure. Timelines from 1 day to long-term. Bill hourly/daily or quote.

Site: https://jeffkayser.com

Contact: https://jeffkayser.com/contact/ or jeff+hn@jeffkayser.com

GitHub: https://github.com/jeffkayser

LinkedIn: https://www.linkedin.com/in/jeffkayser

Why Insight and also Flexibility is More Important than Perseverance in Marketing

Why Insight and also Flexibility is More Important than Perseverance in Marketing Advertising efficiently calls for not just understanding right into just how a product and services can be effectively marketed however additionally adaptability right into the advertising of a service or product. This is just one of the advertising and marketing concepts that does … Continue reading Why Insight and also Flexibility is More Important than Perseverance in Marketing

Luck had nothing to do with Hamilton's British GP victory

Lewis Hamilton would have won the British Grand Prix without the help of a Safety Car, owing to his shrewd decision to go his own way on strategy instead of follow the pre-race plan set out by his Mercedes team.

The post Luck had nothing to do with Hamilton's British GP victory appeared first on Buy It At A Bargain – Deals And Reviews.

Model risk management transformation

Financial institutions have been maturing their approaches to MRM and – as models become more complex and pervasive, and regulatory expectations continue to increase – leading financial institutions seek faster and further movement. Ashutosh Nawani, head of financial risk management, and George Stylianides, global risk lead, financial services, at PwC Risk Consulting, explore why, by revising their approaches to MRM, institutions are targeting flexible, adaptable and efficient MRM functions that are fit for the future and will deliver real business value

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How to Set Up a New Business in Tennessee

Starting a Business in Tennessee

A new business in Tennessee is not out of reach. So have you been wondering: how do I start a business in Tennessee? And more importantly, can I do so no matter what the economic conditions are? Can I start a new business in Tennessee during a recession?

New Business in Tennessee: Pros and Cons

According to a 2016 article in Business Insider, Tennessee is in the middle set of ten states to start a new business in. This is for the entire nation.  It has somewhat low living costs. But the state has poor labor force quality, productivity, and also startup activity scores. Still, CBS News named Chattanooga and Knoxville as two of the cheapest cities to start a new business in. Again, this is for the whole country.

Some Recent Changes

In 2018, Forbes listed Tennessee as number 12. But also in 2018, Fit Small Business placed Tennessee squarely in the middle, at number 25. Keep in mind, the three sites have differing methodologies.

So, which is right?

Forbes gives Tennessee high praise for its regulatory environment, economic climate, and growth prospects. The state also does better than average for business costs. But it’s below average for labor supply and quality of life.

Fit Small Business says Tennessee does best with cost of living and taxes. But it’s below average for labor market, a measure of the desirability of an area and the number of people with bachelor’s degrees. Fit Small Business gave Tennessee a rather low quality of life score, but keep in mind there are some subjective considerations in play. Tennessee also scored poorly, per Fit Small Business, for the costs of starting a business.

Your Choice

Only you can decide if it’s worth it to start a business in Tennessee. Plus, Tennessee has a Jekyll and Hyde vibe, where there are a number of decent-sized cities such as Knoxville, Nashville, and Memphis, but also a lot of rural areas. Hence the overall scoring for any of these three sites might not perfectly apply to specific parts of the state.

New Business in Tennessee: Initiatives

The Jobs4TN plan is a Tennessee business resource designed to promote growth industries, establish nine regional “jobs base camps,” and reduce regulations getting in the way of job growth. This plan includes the INCITE initiative, a $50 million project to increase the state’s innovation by providing startup companies with access to needed funding.

To help grow the state’s manufacturing base, some businesses in Tennessee do not have to pay sales tax on qualified machinery and industrial equipment. Manufacturers also can get sales tax reductions on energy, fuel, and water, as well as carry forward net operating losses for 15 years.

The state’s Job Tax Credit is a Tennessee business resource in the form of relief from franchise and excise taxes. Businesses which create at least 25 jobs in a year and meet minimum investment levels can get a tax credit of up to $4,500 per job. These credits can then be used to offset up to 50% of the business’s tax liability. If  not used, the business can carry the credit forward up to 15 years for future tax relief.

As a Tennessee business resource for larger industries, the Job Tax Super Credit offers companies creating at least 100 jobs at specified wage standards up to a $5,000 tax credit per job. This can be used to offset up to 100% of the companies tax liability and it can be carried forward for up to 20 years.

Jobs 4 TN

According to Jobs 4 TN, the biggest growth industries in Tennessee are health care and social assistance; construction; management, scientific, and technical consulting services; automotive, architectural, and structural metals manufacturing; employment services; office administrative, financial investment and legal activities and services; chemical wholesaling; waste collection; alcoholic beverage wholesaling; transit and ground passenger transportation; warehousing and storage; and Investigation and security services.

Savvy business owners can take find new opportunities and advantage of the more seasoned industries in the area by offering goods or services such as data and other computer support like programming; trucking for any industry; safety equipment manufacture and distribution; and taverns and other hospitality outlets.

Here is exactly how to start business in Tennessee.

Start a New Business in Tennessee – Tennessee New Business Secretary of State Requirements

Register a Business Name

Check for business name availability on the Tennessee Secretary of State’s website.

Corporations

For a corporation, a business owner must choose a unique name. Search online records and other archives and catalogs to make sure a name is not in use.

There is a database of corporations registered in Tennessee available for searches at the Tennessee government website.

Corporate Name Reservations

Name reservations are not required to incorporate a small business. But if a business owner wants to reserve a name for their corporation, they should submit a name reservation application to the office of the Tennessee Secretary of State.

The name reservation application form is available at Reserve a Tennessee Corporation Name on the Tennessee government website. The corporate name will then be reserved for a period of four months.

The fee to file a name reservation application is $20.00.

Business Permits and Licenses

The state has a one-stop website for Tennessee business licenses requirements.

Local Permits and Licenses

The Tennessee government has a one-stop website. It also includes lists of County clerk locations as well as city and county websites.

Start a New Business in Tennessee – Business Registration

Make sure to visit the Tennessee Secretary of State website. It has a pull down menu to help you drill down to the steps and forms you need to complete.

Tax Registration

Be sure to register with the Tennessee Online Tax Registration website.

Start a New Business in Tennessee – Virtual Offices

Alliance offers Tennessee virtual business office space in the following cities: Brentwood, Knoxville, Memphis, and Nashville.

Go to Regus for Chattanooga virtual office space and DaVinci for Tennessee virtual office space in Brentwood. For other areas of the state, ask local business owners. Also try computer user groups for help in this area.

Other options may be virtual business office space in nearby states. These are Alabama, Georgia, and also Mississippi to the south. Kentucky and also Missouri are to the north. Arkansas is to the west, and North Carolina and also Virginia are to the east.

Start a New Business in Tennessee – Establish Business Credit

Small business credit is credit in a business’s name. It doesn’t link to a business owner’s personal credit, not even when the owner is a sole proprietor and the solitary employee of the business.

Consequently, an entrepreneur’s business and consumer credit scores can be very different.

The Benefits

Given that company credit is distinct from individual, it helps to safeguard an entrepreneur’s personal assets, in the event of court action or business insolvency.

Also, with two separate credit scores, a business owner can get two separate cards from the same vendor. This effectively doubles purchasing power.

Another benefit is that even startup ventures can do this. Going to a bank for a business loan can be a recipe for frustration. But building business credit, when done properly, is a plan for success.

Individual credit scores rely on payments but also other factors like credit usage percentages.

But for small business credit, the scores really merely hinge on if a company pays its bills on time.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN.

The Process

Growing company credit is a process, and it does not happen automatically. A small business will need to proactively work to establish small business credit.

Nevertheless, it can be done readily and quickly, and it is much faster than developing consumer credit scores.

Vendors are a big aspect of this process.

Accomplishing the steps out of sequence will result in repetitive rejections. Nobody can start at the top with business credit. For example, you can’t start with retail or cash credit from your bank. If you do, you’ll get a denial 100% of the time.

Start a New Business in Tennessee – Small Business Fundability

A small business must be fundable to lenders and merchants.

Hence, a small business will need a professional-looking website and email address. And it needs to have site hosting bought from a vendor like GoDaddy.

In addition, company telephone and fax numbers need to have a listing on 411.com.

Additionally, the company telephone number should be toll-free (800 exchange or the equivalent).

A company will also need a bank account dedicated solely to it, and it must have every one of the licenses necessary for running.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN.

Dealing with the Internal Revenue Service

Visit the Internal Revenue Service web site and obtain an EIN for the company. They’re free of charge. Choose a business entity such as corporation, LLC, etc.

A business can begin as a sole proprietor. But they will most likely want to change to a form of corporation or an LLC.

This is in order to limit risk. And it will take full advantage of tax benefits.

A business entity will matter when it concerns taxes and liability in the event of a lawsuit. A sole proprietorship means the business owner is it when it comes to liability and tax obligations. Nobody else is responsible.

Sole Proprietors Take Note

If you run a company as a sole proprietor, then at the very least be sure to file for a DBA. This is ‘doing business as’ status.

If you do not, then your personal name is the same as the small business name. As a result, you can wind up being directly liable for all business debts.

Also, according to the IRS, by having this structure there is a 1 in 7 chance of an IRS audit. There is a 1 in 50 chance for corporations! Prevent confusion and considerably decrease the chances of an Internal Revenue Service audit at the same time.

Start a New Business in Tennessee – Starting Off the Business Credit Reporting Process

Start at the D&B website and obtain a totally free D-U-N-S number. A D-U-N-S number is how D&B gets a business into their system, to generate a PAYDEX score. If there is no D-U-N-S number, then there is no record and no PAYDEX score.

Once in D&B’s system, search Equifax and Experian’s sites for the business. You can do this at www.creditsuite.com/reports. If there is a record with them, check it for accuracy and completeness. If there are no records with them, go to the next step in the process.

In this way, Experian and Equifax will have something to report on.

Vendor Credit Tier

First you need to build trade lines that report. This is also called the vendor credit tier. Then you’ll have an established credit profile, and you’ll get a business credit score.

Start a New Business in Tennessee Credit Suite

And with an established business credit profile and score you can begin to obtain credit in the retail and cash credit tiers.

These kinds of accounts have the tendency to be for the things bought all the time, like marketing materials, shipping boxes, outdoor work wear, ink and toner, and office furniture.

But first of all, what is trade credit? These trade lines are credit issuers who will give you initial credit when you have none now. Terms are frequently Net 30, instead of revolving.

So, if you get an approval for $1,000 in vendor credit and use all of it, you need to pay that money back in a set term, like within 30 days on a Net 30 account.

Details

Net 30 accounts have to be paid in full within 30 days. 60 accounts must be paid completely within 60 days. In comparison with revolving accounts, you have a set time when you have to pay back what you borrowed or the credit you made use of.

To begin your business credit profile the right way, you need to get approval for vendor accounts that report to the business credit reporting agencies. Once that’s done, you can then make use of the credit.

Then pay back what you used, and the account is on report to Dun & Bradstreet, Experian, or Equifax.

Vendor Credit Tier – It Helps

Not every vendor can help like true starter credit can. These are vendors that will grant an approval with marginal effort. You also need them to be reporting to one or more of the big three CRAs: Dun & Bradstreet, Equifax, and Experian.

You want 5 to 8 of these to move onto the next step, which is the retail credit tier. But you may have to apply more than one time to these vendors. So, this is to confirm you are responsible and will pay promptly.

Retail Credit Tier

Once there are 5 to 8 or more vendor trade accounts reporting to at least one of the CRAs, then progress to the retail credit tier. These are service providers which include Office Depot and Staples.

Only use your SSN and date of birth on these applications for verification purposes. For credit checks and guarantees, use the business’s EIN on these credit applications.

One good example is Lowe’s. They report to D&B, Equifax and Business Experian. They want to see a D-U-N-S and a PAYDEX score of 78 or more.

Fleet Credit Tier

Are there 8 to 10 accounts reporting? Then move onto the fleet credit tier. These are businesses such as BP and Conoco. Use this credit to purchase fuel, and to fix, and take care of vehicles. Only use your SSN and date of birth on these applications for verification purposes. For credit checks and guarantees, make certain to apply using the company’s EIN.

One such example is Shell. They report to D&B and Business Experian. They need to see a PAYDEX Score of 78 or higher and a 411 company telephone listing.

Shell may say they want a specific amount of time in business or revenue. But if you already have adequate vendor accounts, that won’t be necessary. And you can still get an approval.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN.

Cash Credit Tier

Have you been sensibly handling the credit you’ve up to this point? Then move to the cash credit tier. These are businesses such as Visa and MasterCard. Just use your SSN and date of birth on these applications for verification purposes. For credit checks and guarantees, use your EIN instead.

One such example is the Fuelman MasterCard. They report to D&B and Equifax Business. They want to see a PAYDEX Score of 78 or higher. And they also want you to have 10 trade lines reporting on your D&B report.

Plus, they want to see a $10,000 high credit limit reporting on your D&B report (other account reporting).

Additionally, they want you to have an established business.

These are service providers such as Walmart and Dell, and also Home Depot, BP, and Racetrac. These are often MasterCard credit cards. If you have 14 trade accounts reporting, then these are doable.

Start a New Business in Tennessee – Monitor Your Business Credit

Know what is happening with your credit. Make certain it is being reported and address any errors as soon as possible. Get in the practice of taking a look at credit reports and digging into the details, and not just the scores.

We can help you monitor business credit at Experian and D&B for only $24/month. See: www.creditsuite.com/monitoring.

Update Your Information

Update the details if there are inaccuracies or the details is incomplete.

Start a New Business in Tennessee – Fix Your Business Credit

So, what’s all this monitoring for? It’s to challenge any mistakes in your records. Mistakes in your credit report(s) can be corrected. But the CRAs often want you to dispute in a particular way.

Disputes

Disputing credit report mistakes usually means you mail a paper letter with copies of any proofs of payment with it. These are documents like receipts and cancelled checks. Never mail the originals. Always mail copies and retain the original copies.

Fixing credit report inaccuracies also means you precisely detail any charges you dispute. Make your dispute letter as clear as possible. Be specific about the problems with your report. Use certified mail so that you will have proof that you mailed in your dispute.

A Word about Building Business Credit

Always use credit responsibly! Don’t borrow more than what you can pay off. Track balances and deadlines for payments. Paying in a timely manner and fully will do more to elevate business credit scores than just about anything else.

Building small business credit pays. Excellent business credit scores help a small business get loans. Your lending institution knows the company can pay its debts. They understand the small business is authentic.

The small business’s EIN links to high scores and credit issuers won’t feel the need to demand a personal guarantee.

Business credit is an asset which can help your company for years to come.

Learn more here and get started toward opening a new business in Tennessee.

Want to start a new business someplace else in America? Then check out our handy guide to starting a business in any state in the country.

 

The post How to Set Up a New Business in Tennessee appeared first on Credit Suite.

Let Oracle Loans Reveal Your Brilliant Future: A Business Line of Credit or Loan Option for All Your Business Needs

Oracle Has Valuable Financing Options to Fit Virtually Every Situation

In ancient times, an oracle was someone who delivered a divine communication or revelation. Often, these revelations were about the future.  However, you don’t need an oracle to tell you your future. You need Oracle Loans to help you make your own.

We have to make our own luck and drive our own destiny. No one can tell you your future. To do that with your business however, you are going to need funding. The problem is, traditional funding doesn’t come easy to everyone.

What do you do then? The answer is non-traditional funding, and Oracle Loans offers just that. They offer a variety of flexible loans and business line of credit options that virtually ensure that business owners from a broad range of income and credit score levels can find something that will work for them.

What is Oracle Loans?

Oracle loans is part of Oracle, which offers a broad range of business solutions including:

  • CRM
  • Service Management
  • Financial Management
  • Human Capital Management
  • Project Portfolio Management
  • Advances Procurement
  • Supply Chain Management
  • Value Chain Planning
  • Value Chain Application

The range of services offered under is category is huge, but the financial services are what we focus on here. They offer both loan management for those businesses that offer loans, and financing to borrowers needing small business funding.

What Makes them Different?

The flexible funding offered by Oracle loans is different in a couple of ways. First, there are several options for low credit scores. This means even those businesses that have trouble obtaining financing through traditional means can find success with Oracle.

In fact, some of the loans do not require any minimum time in business or annual revenue. Many do not require any sort of collateral, and some do not even ask for income verification.

The Nitty Gritty Details

There are multiple financing products offered by Oracle loans, so without further ado, here is what you have on the menu.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN.

Unsecured Business Loans

These are the most popular loans offered by Oracle, and they come in four categories: Gold, Silver, Bronze, and Startup.

Gold Level Loans

These loans range from a minimum of $10k to a maximum of $500k. The terms range from 1 to 20 years, and the minimum credit score is 680. They do allow you to have a cosigner if you do not meet the credit score requirement, so no worries there. Typical funding time is 3 to 5 days.

Silver Level Loans

Loans at the silver level range from $5,000 to $250,000. The terms can go up to 20 years, and there is no minimum time in business or monthly revenue requirement, just like on the gold level. Funding is faster at this level, usually happening within 1 to 3 days, but the 680 minimum credit score still stands. Again, if you do not meet this requirement, you can always use a cosigner that does.

 

Oracle Loans business line of credit rates - Credit Suite

Bronze Level Loans

The loans on the bronze level are $500,000. They have terms that go up to 20 years, and the same credit score and cosigner details apply. However, funding can take 5 to 7 days.

Startup Unsecured Loans

The rules are a little different when it comes to unsecured loans at the startup level. The amounts can range from $5,000 to $250,000, and the term lengths and credit score requirements are the same. However, there is a 6-months or more in business requirement as well as a requirement

that monthly revenue be at least $10,000. Funding for these loans takes 1-3 days.

Secured Business Loans and Business Line of Credit

Of course, another option is secured business loans. These are loans that are secured by the borrower with some assets. Oracle offers loans secured by real estate as well as those secured by other assets.

Secured Real Estate Loans- Residential

When you use residential property to secure a business loan through Oracle, you receive up to 80% LTV. The “as-is” value has to be at least $140,000. Loans range from a minimum of $100,000 to a maximum of $15,000,000, and interest rates start at 5.49%.  Terms extend up to 30 years.

The really great part for many is that the minimum credit score requirement is only 550, meaning that you can get this loan even if your credit isn’t the best. The one catch is that it cannot be your primary residence that you use as collateral. You must have either an investment home or 2nd home to use as security.

Secured Real Estate Loans-Commercial

If you have commercial property that you can use to secure a loan, Oracle will lend up to 75% LTV. There are similarities with the residential property secured loans, with the as-in value and minimum and maximums being the same. The terms and credit score requirements are the same as well, but the interest rates start at 6.24%, which is slightly higher than the residential property loans.

Other Assets as Security

There are a host of other assets that can used as collateral for a loan or business line of credit. They includes but is not limited to:

  • Equipment
  • Machinery
  • Luxury vehicles
  • Classic cars
  • RVs
  • Motorcycles
  • Yachts
  • Airplanes
  • Fine art
  • Jewelry

Basically, any asset of value that you own can be security for a loan. These are some of the most popular loans because they have some pretty great perks that unsecured loans do not come with. For example, you can make interest only payments if needed. There is also no pre or post payment penalty, and they offer free appraisals on the asset you are using.

Transportation of your asset is insured, and they are stored in high security vaults that are usually within 25 miles of your home.

Secured business loans from Oracle are only available in select states.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN.

Business Lines of Credit

There are several different options at Oracle for a business line of credit. The most popular is the Stated Income business line of credit. The big draw is that they do not require any sort of income verification and no financial documentation. All industries are eligible for this type of financing, but you must be a legal United States business entity.

The minimum amount is $5,000 and the maximum is $250,000. There is no interest for the first 6 to 24 months, which makes it startup friendly. In fact, this type of financing can help you build business credit. There is a minimum credit score of 680, but if you do not meet that you can get a cosigner that does. The cosigner does not have to have any association with the business.

Stated Income Real Estate Investor Line of Credit

You can also get a business line of credit for investing in real estate with no income verification. It reports to your business credit report so it does not affect your personal credit, meaning you shouldn’t have issues accessing financing for personal needs due to this line of credit.

This line of credit is useful to fix, flip, or hold real estate for income. Amounts range from $10,000 to $250,000 and the interest rate is 0% for the first 6 to 12 months. You can get his type of financing even if this is your first property to flip!

The days in business requirement is only one day. Your credit score has to be 680 or higher, but if you do not meet that a cosigner is fine. There is no collateral required.

Traditional Business Line of Credit

Oracle also offers a more traditional business line of credit. It is available nationwide, and you can have funding in as little as 24 to 48 hours. The minimum amount is $1,000, but the maximum goes to $250,000.

The whole process is fully automated so there is no paperwork, which is a huge bonus. You may be in business for at least 6 months and have at least $50,000 in annual revenue. In addition, there can be no bankruptcy in the past 2 years.  You do have to have business bank account however.

If you meet these requirements you can have a traditional business line of credit available to you pretty quickly. There is no origination fee, no minimum credit score, no fee for early repayment, and no application fee.

Invoice Factoring

This is another funding option for an established business that needs cash fast. You can get an immediate advance on outstanding invoices from $10,000 to $2.5 million, and you can have it in as little as a day.

Bridge Loans

Oracle offers bridge loans for investment in residential real estate. They range from $100,000 to $15 million and start at a 6.99% APR. Terms range up to 3 years, and the LTV is 75% or less. The really cool thing is the minimum credit score is 500! They also offer hard money loans with the same terms.

How to Apply for a Business Line of Credit or Loan with Oracle Loans

It is super simple to let Oracle help you see success in your future. Just go to the Oracle Loans website here and click to apply. There is no requirement to enter sensitive financial information online, but you do need to fill out the online form as completely as possible. That is the only way to see the complete list of the Oracle loan and business line of credit options available to you.

Once you have your list, click the loan program you want and start the pre-approval process. You could have an answer as soon as the same day.

Is Oracle Loans Legit?

Non-traditional lenders do not have the best reputation.  In fact, some of them turn out to be downright scams.  However, Oracle Loans has been in business for 3 years, and they have an A+ rating with the Better Business Bureau.  There have been no complaints filed against them with the BBB, and the one review on file offers a rating of 5 stars.

How Business Credit Can Help You Get a Business Lines of Credit

As mentioned earlier, some of these financing option can actually help you build business credit. Also, some of the options only report to business credit agencies, not your personal credit report. What is business credit, and why does it matter?

What is Business Credit?

Business credit is a credit history, including a credit score, for your business only. It is not reflected on your personal credit report, and your personal credit history is not reflected on your business credit.

What does this mean for you and your business? It means that even if you have terrible personal credit, it is still possible to have a good business credit score. It also means that if you run into financing problems with your business, your personal credit will not suffer.

How to Establish Business Credit

It is pretty obvious why business credit is a good thing, but how do you get it started? There is a process. While it isn’t difficult, it does take time, and there are steps that must be taken in order.

The first step is to establish your business as a separate entity from yourself. Here is how that happens:

  • The very first step is to incorporate your business. This is essential when it comes to establishing your business as separate from yourself. You choose whichever method works best for your business, whether it be an LLC, S-corp, or a full-blown corporation.
  • After you incorporate your business, apply for an EIN through the IRS. This will be the identifying number for your business, and when you apply for credit, you will use this number instead of your SSN. They may ask for your SSN for identification purposes due to new fraud standards, but it will not be used to check your credit.
  • Next, set up a business banking account. Run all of your business financial transactions through this account.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN.

  • You also need a separate address and telephone number for your business. The number should be an 800 number, or from some other toll-free exchange.
  • The next step is to set up a professional website for your business and acquire an email address with the same URL as the website. Do not use a free email service such as Gmail or Yahoo.

Get Established with Dun & Bradstreet

After you complete these steps, the next thing to do is get a DUNS number. This is a number assigned by Dun & Bradstreet. As the largest and most used credit agency, you need to be sure that your on-time payments get reported to them. If you do not have a DUNS number, that will not happen. You can get a DUNS number for free on the Dun & Bradstreet website.

How to Build Business Credit

Once your business has its own identity, you can begin to build business credit. Since in many cases you must have credit to get credit, this can be tricky. The secret to being successful at building business credit is the vendor credit tier.

This is a group of vendors that will offer invoices with net terms, and then report your on-time payments to the business credit agencies. Once you start having payments reported, your credit begins to build. When you have 5 or more vendors from the vendor credit tier reporting, you can start to apply for credit from the next tier, which is the retail credit tier.

The process builds like a snowball. As you gain more accounts at each tier, you can begin to access credit from the next tier. Your business credit will only get stronger and stronger as long as you are making your payments on time.

What are the Other Tiers?

There are 4 credit tiers all together. After the vender credit tier comes the retail credit tier. These are the store cards like Best Buy, Amazon, and Office Depot. After that comes the fleet credit tier which includes those cards that you can use for automobile repair and maintenance as well as fuel costs.  Examples of these are Fuelman and WEX. Then comes the coveted cash credit tier. This includes standards we all know such as Visa, AMEX, and Mastercard.

Oracle Loans Can Help You Use Your Business Credit to Create a Bright Future

Oracle has a great mix of products so that you can get financing based on your personal credit if you have not yet established your business credit. However, if you already have business credit, you can use some of Oracle’s financing products to build it even further. This is especially true of their business line of credit products.

You don’t need an oracle to tell you your future, with Oracle Loans, you can make your own future.

 

 

 

The post Let Oracle Loans Reveal Your Brilliant Future: A Business Line of Credit or Loan Option for All Your Business Needs appeared first on Credit Suite.

GiveCampus (YC S15) hiring a Product Designer who cares about education

Article URL: https://wwww.givecampus.com/careers#product

Comments URL: https://news.ycombinator.com/item?id=20440815

Points: 1

# Comments: 0

New comment by rodcoelho in "Ask HN: Who wants to be hired? (July 2019)"

Location: NYC Willing to relocate: San Francisco / San Diego (family) Technologies: Python, Javascript Résumé/CV: github.com/rodcoelho & linkedin.com/in/rodcoelho Email: rod.de.coelho@gmail.com