Funded again in South Carolina … $60,000.00 in Business Revenue Financing!

This was a great boost for our client’s company. Obtaining this repeat financing allowed him to take on additional jobs to make his figures exceed higher than he had hoped possible. This helped in providing confidence in working towards achieving short term goals, while having money for working capital to allow him to take on …

How to Set Up a New Business in Vermont

Starting a Business in Vermont

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

New business in Vermont: Advantages and Disadvantages

Business Insider called Vermont the third worst state to start a new business in, per a 2016 article. So this is for the whole nation. There are high costs but also few employees for hire. There are around 11,000 unemployed Vermont adults and also around 3,000 open jobs.

So 1.29% of the working population is available to work at a new business. Contrast with the best state (Wyoming). Wyoming has more than double (2.73%) employees available for startup companies. Also, Vermont had the second lowest density of startup businesses. There were fewer than 54 new businesses per 1,000 firms.

Vermont, though, with its proximity to New Hampshire, can potentially seek employees there.

Recent Changes?

In 2018, Forbes ranked Vermont at number 47 – not much of an improvement there. Also in 2018, Fit Small Business clocked Vermont in at number 28.

So, why the difference? First of all, keep in mind these three sites all have different methodologies.

Fit Small Business praises Vermont for its #1 quality of life and its #4 labor market. The labor market is a measurement of both the desirability of an area and the number of people with bachelor degrees. Vermont also scores well for the costs of starting a business.

But then it all goes off the rails. Vermont is in the ten worst states for taxes, cost of living, startup activity, and access to capital. In truth, if Vermont didn’t have such a good quality of life, Fit Small Business probably would have ranked them in the bottom of the 30s.

Forbes says Vermont has a decent labor supply and quality of life. Note: quality of life does have some subjective factors. But then there are four areas where it is in the bottom ten states. These include regulatory environment and economic climate. Business costs are also bad. But it’s growth prospects which are truly abysmal, ranking at #49. Only Mississippi ranks worse.

Only you can decide if it’s worth it to start a new business in Vermont.

New Business in Vermont: Initiatives

However, Vermont is also showing growth in many sectors. This includes manufacturing. The state’s government is taking an active role in trying to encourage economic growth. This is being done by heavily investing in and developing infrastructure to support that growth. Also, Vermont is pushing several key economic development initiatives.

Start a New Business in Vermont – Vermont Top Industries

As might be expected, tourism and maple syrup still represent rather large industries in Vermont. Smart business owners may see new business opportunities in catering to both of these niches. So these can be in industries which would include camping equipment, hospitality, and athletic and also cold weather apparel.

Per the Vermont office state website, Think Vermont, the biggest industries in Vermont are software development and IT, and also manufacturing. More top Vermont industries are financial services and insurance and also renewable energy and green businesses. Yet more top industries in Vermont are tourism and outdoor recreation; and also food, beverage, and consumer goods. More Vermont top industries are education; health care and social assistance; and also professional and creative services.

Start a New Business in Vermont – Vermont Business Ideas

Smart business owners can always find new opportunities. Work with bigger industries in the state. Offer goods or services such as hospitality, transportation, and also trucking for any industry. Other ideas are developing and also distributing safety equipment. Another idea is computer support such as programming and also data, for example.

Here is how to start a new business in Vermont.

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

Register a Business Name

Corporations

Vermont corporation names must be unique. Before deciding on a name, search online records and also other records to determine if the name is already in use. Start with the online database of registered Vermont corporations available at Vermont Corporation in the Vermont Secretary of State website.

Corporate Name Reservations

It is not necessary to reserve a corporate name before filing to incorporate. But if a business owner wants to reserve a name before the time they can file to incorporate, submit a name reservation application to the office of the Vermont Secretary of State. Find and download the name reservation application form at Reserve a Vermont Corporation Name in the Vermont Secretary of State website. The corporate name is then reserved for 120 days. There is a filing fee of $20.00.

Business Permits and Licenses

The Secretary of State has a list of professions which require licenses.

Local Permits and Licenses

Consult a useful PDF. It lists many of the town and city clerks in Vermont.

Start a New Business in Vermont – Business Registration

Get set up with the Vermont Secretary of State Online Business Registration Guide. But if you need more information or forms, check out the Start or Register a Business page.

Tax Registration

To take care of tax registration, go to the Vermont Department of Taxes.

Start a New Business in Vermont – Virtual Offices

Alliance and Regus do not offer Vermont virtual business offices.

DaVinci offers Vermont virtual business office space in Burlington and Shelburne. Business owners in Montpelier or Rutland, and in other parts of the state, should ask local business owners. Also try computer groups for help in this area. Other options may be virtual business office space in nearby states. These are Massachusetts, New Hampshire, and also New York.

Start a New Business in Vermont – Build Business Credit

Business credit is credit in a company’s name. It doesn’t tie to a business owner’s personal credit, not even when the owner is a sole proprietor and the only employee of the business.

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

The Benefits

Given that small business credit is independent from personal, it helps to safeguard a small business owner’s personal assets, in case of court action or business bankruptcy.

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

Another advantage is that even startups can do this. Going to a bank for a business loan can be a recipe for frustration. But building company credit, when done right, is a plan for success.

Consumer credit scores are dependent on payments but also additional considerations like credit use percentages.

But for company credit, the scores really only hinge on if a small business pays its invoices punctually.

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

The Process

Building small business credit is a process, and it does not occur without effort. A business has to proactively work to build business credit.

However, it can be done easily and quickly, and it is much speedier than building personal credit scores.

Merchants are a big aspect of this process.

Accomplishing the steps out of sequence will cause repetitive denials. Nobody can start at the top with company credit. For instance, you can’t start with retail or cash credit from your bank. If you do, you’ll get a rejection 100% of the time.

Start a New Business in Vermont – Business Fundability

A business has to be fundable to lending institutions and merchants.

For this reason, a company will need a professional-looking web site and email address. And it needs to have site hosting bought from a supplier like GoDaddy.

Additionally, company telephone and fax numbers should have a listing on 411.com.

At the same time, the business telephone number should be toll-free (800 exchange or the equivalent).

A small business will also need a bank account dedicated solely to it, and it needs to have all of the licenses necessary for operation.

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

Working with the Internal Revenue Service

Visit the Internal Revenue Service website and obtain an EIN for the business. They’re free. Choose a business entity like corporation, LLC, etc.

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

This is in order to reduce risk. And it will make best use of tax benefits.

A business entity will matter when it comes to taxes and liability in case of a lawsuit. A sole proprietorship means the entrepreneur is it when it comes to liability and taxes. No one 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. Consequently, you can wind up being personally liable for all company debts.

In addition, per the Internal Revenue Service, by having this structure there is a 1 in 7 chance of an IRS audit. There is a 1 in 50 possibility for corporations! Steer clear of confusion and considerably decrease the chances of an IRS audit simultaneously.

Starting the Business Credit Reporting Process

Start at the D&B web site and get a totally free D-U-N-S number. A D-U-N-S number is how D&B gets a small business into their system, to produce 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 websites 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.

By doing this, Experian and Equifax will have something to report on.

Vendor Credit Tier

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

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

These types of accounts tend 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 commonly Net 30, instead of revolving.

Therefore, if you get approval for $1,000 in vendor credit and use all of it, you need to pay that money back in a set term, such as 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 must pay back what you borrowed or the credit you used.

To launch your business credit profile the proper way, you should get approval for vendor accounts that report to the business credit reporting agencies. As soon as 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 in the same way true starter credit can. These are merchants that will grant an approval with negligible 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 need to apply more than once to these vendors. So, this is to validate you are dependable 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 move onto the retail credit tier. These are businesses such as 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 small 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 better.

Fleet Credit Tier

Are there 8 to 10 accounts reporting? Then progress to the fleet credit tier. These are service providers like BP and Conoco. Use this credit to purchase fuel, and to repair, and take care of vehicles. Only use your Social Security Number and date of birth on these applications for verification purposes. For credit checks and guarantees, make sure 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 more and a 411 small business telephone listing.

Shell may say they want a certain 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 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 managing the credit you’ve up to this point? Then progress to the cash credit tier. These are service providers such as Visa and MasterCard. Only 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 better. 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).

Also, they want you to have an established company.

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

Monitor Your Business Credit

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

We can help you monitor business credit at Experian and D&B for 90% less than it would cost you at the CRAs. See: www.creditsuite.com/monitoring.

Update Your Data

Update the data if there are mistakes or the information is incomplete.

Fix Your Business Credit

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

Disputes

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

Fixing credit report mistakes also means you precisely spell out any charges you contest. Make your dispute letter as crystal clear as possible. Be specific about the issues with your report. Use certified mail so that you will have proof that you sent in your dispute.

A Word about Business Credit Building

Always use credit responsibly! Never borrow more than what you can pay off. Keep track of balances and deadlines for repayments. Paying in a timely manner and fully will do more to raise business credit scores than just about anything else.

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

The business’s EIN attaches to high scores and loan providers won’t feel the need to call for a personal guarantee.

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

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

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 Vermont appeared first on Credit Suite.

The Top 10 Small Business Credit Cards – Excellence for Every Entrepreneur

The Top 10 Small Business Credit Cards Can Be Yours

Do you know the top 10 small business credit cards? We did the research for you. So here are our favorites.

Per the SBA, company credit card limits are a whopping 10 – 100 times that of personal cards!

This shows you can get a lot more cash with corporate credit. And it also means you can have personal credit cards at shops. So you would now have an additional card at the same stores for your business.

And you won’t have to put up collateral, cash flow, or financials to get business credit.

Credit Card Benefits

Features vary. So make certain to pick the perk you prefer from this collection of possibilities.

Top 10 Small Business Credit Cards: 10. Ink Business Cash Credit Card for a Terrific 0% APR Period

For a 0% APR period, this card is great. You pay no yearly fee. It’s got an interest-free time period. It has flexible cash-back rewards. There are spending limits for employees. However, you will need a credit score of 690 or higher.

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

Top 10 Small Business Credit Cards: 9. Ink Business Preferred from Chase for Excellent Rewards

With this card, you can get 80,000 bonus points. But this is once you spend $5,000 on purchases. And it is within your first three months from account opening.

Earn three points per dollar. But this is on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, and cable and phone. It is also on advertising purchases made with social media sites and search engines. But this is for each account anniversary year.

Also, earn one point for each dollar on all of the other purchases. There is no restriction to the amount you can earn.

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

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

Top 10 Small Business Credit Cards: 8. SimplyCash Plus Business Credit Card from American Express for Awesome Cash Back

Check out the SimplyCash Plus Business Credit Card from American Express. So you can earn as much as $400 cash back. Get a $200 statement credit. But this is after spending $5,000.

Also, get 5% cash back at US office supply stores and on wireless phone services. So these must be bought from US service providers. But this applies to first $50,000 of yearly spending.

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

Plus you get 1% cash back on all other purchases.

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

Top 10 Small Business Credit Cards: 7. Gold Delta SkyMiles Business Credit Card from American Express for Luxurious Travel Points

If you want Delta SkyMiles, then this card is for you. Get 30,000 bonus miles. But this is after you make $1,000 in purchases on your new card. And it is during your first three months. Terms and limitations apply.

Also earn a $50 statement credit. But this is after you make a Delta purchase with your card. And it is in your first 3 months. Earn two miles per dollar spent on purchases made straight with Delta. Also, earn one mile per qualified dollar spent on purchases.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/gold-delta-skymiles/44279

Top 10 Small Business Credit Cards: 6. Spark Cash Select From Capital One for Jackpot Rewards

With this card, you get 1.5% cash back on all purchases. So this is with no restrictions.

New cardholders can also get a $200 cash bonus. But that is once they spend $3,000 on new purchases. So this is within three months of account opening.

New customers also get initial APR of 0% on purchases. But that is for nine months. Also, there is no annual fee.

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

Top 10 Small Business Credit Cards: 5. Blue Business Plus from American Express for a Fantastic Introductory APR Period

This card an introductory 0% APR time period, we also prefer the Blue Business ℠ Plus Credit Card from American Express. So it has an introductory 0% APR for 15 Months. Also, you can earn double points on day-to-day company expenses up to a yearly cap. But the regular APR is 12.24% – 20.24%. So this APR is variable.

Right now corporations can earn double points. But this is on the initial $50,000 in purchases each year.

Get it here: https://creditcard.americanexpress.com/blue/

Top 10 Small Business Credit Cards: 4. Bank of America Business Advantage Cash Rewards MasterCard

With this card, you can get a $200 statement credit. But this is after $500 in purchases. And that is within 60 days of account opening.

You also get 3% cash back on purchases at filling stations and office supply stores. But this is as much as $250,000 annually.

Also, you get 2% cash back on purchases at restaurants. And get 1% cash back on all purchases. Also, there is no yearly fee. But it is available to applicants with excellent credit.

But you can only redeem your cash back in $25 increments.

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

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

Top 10 Small Business Credit Cards: 3. Wells Fargo Business Secured Credit Card for Excellent Credit Building

This card allows cardholders to secure a credit limit of $500 – $25,000. The amount available corresponds to the amount of funding you supply to secure the line.

Your purchase APR rate can be as low as a variable 13.15%. And the yearly fee is $25. But the more cards you have, the more expensive your annual fee will be.

This card lets company owners with bad personal credit to get a card to make purchases and build business credit.

But the card will only report to the personal credit bureaus if you default or are late on payments.

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

Top 10 Small Business Credit Cards: 2. US Bank Business Edge Platinum for Low APR Bliss

For Low APR/Balance Transfers Business Credit Cards, this card is king. So you start with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer fee.

Afterwards, the purchase APR is a variable 10.49% – 18.49%. And this depends upon creditworthiness. There is no yearly fee. But this card is just available to people with great or superb credit. But there is no rewards program for purchases.

Get it here: https://www.usbankedge.com/credit/business-edge-platinum.do

Top 10 Small Business Credit Cards: 1. Business Platinum from American Express for Amazing Travel Perks

Check out the Business Platinum Card from American Express. It is a fantastic option for travel benefits!

Travel benefits including access to these airport lounge networks:

Priority Pass Select
Delta SkyClubs
American Express Centurion Lounges

You also receive Gold Status when you register for the Starwood Preferred Guest program. There is also a $200 yearly air travel fee credit.

There is a $100 credit towards the Global Entry application fee, which includes access to TSA PreCheck program. And you also get one point per dollar spent on the majority of purchases.

Also, you get 1.5 times the points. But this is on charges of $5,000 or more. And it is on qualifying purchases. But this is up to one million additional points per year. Get five points per dollar. But this is for purchasing flights and prepaid hotels from the American Express Travel website.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

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

Bonus #1: Capital One Spark Classic for Business for Fair Credit

For Fair Credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. But you will need a credit score of 690 or higher.

But BEAR IN MIND: the ongoing APR is 23.99% variable APR.

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

Bonus #2: Business Gold Rewards Card from American Express OPEN for Jackpot Rewards

Take a look at the Business Gold Rewards Card from American Express OPEN. So you can earn 50,000 Membership Rewards points. But this is after $5,000 in purchases on the card within first three months.

Also, you get three points on your choice of five categories. In addition, get two times the points on the other categories.

Also, get one point per dollar on all other purchases. It has a $0 yearly fee for the first year. But then your yearly fee rises to $175.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-gold-rewards

Bonus #3: Business Platinum Card from American Express OPEN

Also, have a look at the Business Platinum ® Card from American Express OPEN. So you can earn as much as 75,000 Membership Rewards points upon account opening.

Also get 50,000 Membership Rewards points. But this is subsequent to spending $10,000.

In addition, get 25,000 more points. But that is after spending an additional $10,000 all on eligible purchases. But this is during the initial three months.

And also you can get five times the Membership Rewards points. So this is on flights and pre-paid hotels on amextravel.com. But it has a $450 yearly fee. Yikes!

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

The Top 10 Small Business Credit Cards for You

Your best small business credit cards will depend on your credit history and scores.

Only you can decide which rewards you want and need, so make sure to do your research.

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

Share this and tell your friends what you think of the best company credit cards.

The post The Top 10 Small Business Credit Cards – Excellence for Every Entrepreneur appeared first on Credit Suite.

Exceeded expectations in Connecticut… $150,000.00 in Business Revenue financing!

Your Excellent Question: What is the Best Choice Business Credit Card for a 0% Balance Transfer?

The Best Choice Business Credit Card for a 0% Balance Transfer – Check Out the Hottest Cards!

You asked: What is the best choice business credit card for a 0% balance transfer? Our research turned up some stellar choices. So here are our favorites for a 0% balance transfer and other great perks.

According to the SBA, corporate credit card limits are a whopping 10 – 100 times that of personal cards!

This means you can get a lot more money with small business credit. And it also means you can have personal credit cards at shops. So you would now have an additional card at the same shops for your company.

And you won’t have to provide collateral, cash flow, or financial information in order to get business credit.

Credit card Benefits

Features vary. So make sure to choose the advantage you prefer from this assortment of possibilities. Because you may find that the best choice business credit card for a 0% balance transfer is not the best choice for you.

Reliable Best Choice Business Credit Card for a 0% Balance Transfer

For Low APR/Balance Transfers Business Credit Cards, we prefer the U.S. Bank Business Edge Platinum. So you start with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer fee.

After that, the purchase APR is a variable 10.49% – 18.49%. And this depends on creditworthiness. There is no yearly fee. But this card is just available to those with great or exceptional credit. But there is no rewards program for purchases.

Get it here: https://www.usbankedge.com/credit/business-edge-platinum.do

Blue Business Plus from American Express

Also, have a look at the Blue Business Plus Credit Card from American Express. It has a 15-month initial 0% APR offer. There is no annual fee.

Right now small businesses can get double points. But this is on the initial $50,000 in purchases per year.

Get it here: https://creditcard.americanexpress.com/blue/

Best Choice Business Credit Card for a 0% Balance Transfer: Cards with 0% APR – Pay Zero!

For a 0% APR time frame, we prefer the Ink Business Cash ℠ Credit Card. Also, you pay no annual fee. It’s got an interest-free time period. It has flexible cash-back rewards. There are spending limits for your employees. But you will have to have a credit score of 690 or better.

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

Blue Business Plus from American Express

For an introductory 0% APR period, we also prefer the Blue Business ℠ Plus Credit Card from American Express. So it has an introductory 0% APR for 15 Months. Also, you can earn double points on routine company expenses up to annual cap. But the regular APR is 12.24% – 20.24%. So this APR is variable.

Get it here: https://creditcard.americanexpress.com/blue/

Best Choice Business Credit Card for a 0% Balance Transfer: Company Credit Cards for Luxurious Travel Points

For Travel Points, we like the Gold Delta SkyMiles Business Credit Card from American Express. Get 30,000 bonus miles. But this is after you make $1,000 in purchases on your new card. And it is within your first three months. Terms and limitations apply.

Also earn a $50 statement credit. But this is after you make a Delta purchase with your card. And it is in your first three months. Earn two miles per dollar spent on purchases made directly with Delta. Also, earn one mile per eligible dollar spent on purchases.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/gold-delta-skymiles/44279

Business Platinum from American Express

Check out the Business Platinum Card from American Express. Travel benefits including access to these airport lounge networks:

Priority Pass Select
Delta SkyClubs
American Express Centurion Lounges

You also receive Gold Status when you sign up for the Starwood Preferred Guest program. There is also a $200 yearly air travel fee credit.

There is a $100 credit towards the Global Entry application fee, which includes access to TSA PreCheck program. And you also get one point per dollar spent on the majority of purchases.

Also, you get 1.5 times the points. But this is on charges of $5,000 or more. And it is on eligible purchases. But this is up to one million additional points each year. Get five points per dollar. But this is for buying flights and prepaid hotels from the American Express Travel web site.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

Ink Business Preferred from Chase

Also, make sure to check out the Ink Business Preferred Card from Chase. Get 80,000 bonus points. But this is once you spend $5,000 on purchases. And it is in your initial 3 months from account opening.

Get three points per dollar. But this is on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, and cable and phone. It is also on advertising purchases made with social media sites and search engines. But this is for each account anniversary year.

Also, get one point per dollar on all other purchases. There is no limit to the amount you can earn.

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

Best Choice Business Credit Card for a 0% Balance Transfer: Credit Builder Corporate Credit Cards – Make Your Credit Surge!

Check out the Wells Fargo Business Secured Credit Card. It enables cardholders to secure a credit limit of $500 – $25,000. The amount available is identical to the amount of funding you furnish to secure the line.

Your purchase APR rate can be as low as a variable 13.15%. And the yearly fee is $25. But the more cards you have, the higher your annual fee is going to be.

This card lets company owners with poor personal credit to get a card to make purchases and establish business credit.

But the card will just report to the personal credit bureaus if you default or are late on payments.

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

Check out how our reliable process will help your business get the best business credit cards.

Best Choice Business Credit Card for a 0% Balance Transfer: Terrific Cards for Cash Back

Consider the SimplyCash Plus Business Credit Card from American Express. So you can earn as much as $400 cash back. Get a $200 statement credit. But this is after spending $5,000.

Also, get 5% cash back at US office supply stores and on wireless phone services. So these must be bought from US service providers. But this applies to the initial $50,000 of yearly spending.

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

Plus you get 1% cash back on all other purchases.

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

Bank of America Business Advantage Cash Rewards MasterCard

Also, check out the Bank of America Business Advantage Cash Rewards MasterCard Credit Card.

With it, you can get a $200 statement credit. But this is after $500 in purchases . And that is within 60 days of account opening.

You also get 3% cash back on purchases at gas stations and office supply stores. But this is as much as $250,000 yearly.

Also, you get 2% cash back on purchases at restaurants. And get 1% cash back on all purchases. Also, there is no annual fee. But it is available to applicants with outstanding credit.

But you can only redeem your cash back in $25 increments.

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

Check out how our reliable process will help your business get the best business credit cards.

Spark Cash Select from Capital One

In addition, check out the Spark Cash Select from Capital One. So you get 1.5% cash back on all purchases. So this is without restrictions.

New cardholders can also get a $200 cash bonus. But that is as soon as they spend $3,000 on new purchases. So this is during the first three months of account opening.

New customers also get initial APR of 0% on purchases. But that is for nine months. Also, there is no yearly fee.

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

Best Choice Business Credit Card for a 0% Balance Transfer: Secure Corporate Credit Cards for Fair Credit

For Fair Credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. But you will need a credit score of 690 or higher.

But BEAR IN MIND: the ongoing APR is 23.99% variable APR.

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

Check out how our reliable process will help your business get the best business credit cards.

Best Choice Business Credit Card for a 0% Balance Transfer: Unbeatable Cards for Jackpot Rewards

Take a look at the Business Gold Rewards Card from American Express OPEN. So you can earn 50,000 Membership Rewards points. But this is after $5,000 in purchases on the card during first three months.

Also, you get three points on your choice of five categories. In addition, get two times the points on the remaining categories.

Also, get one point per dollar on all other purchases. It has a $0 yearly fee for the first year. But after that your annual fee rises to $175.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-gold-rewards

Business Platinum Card from American Express OPEN

Also, take a look at the Business Platinum ® Card from American Express OPEN. So you can get up to 75,000 Membership Rewards points at the time of account opening.

Also get 50,000 Membership Rewards points. But this is after spending $10,000.

In addition, get 25,000 more points. But that is after spending an added $10,000 all on eligible purchases. But this is during the initial three months.

Also you can get five times the Membership Rewards points. So this is on flights and prepaid hotels on amextravel.com. But it has a $450 annual fee. Yikes!

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

Your Best Choice Business Credit Card for a 0% Balance Transfer

Your very best choice business credit card for a 0% balance transfer will be dependent on your credit history and scores.

Only you can choose which features you want and need. So be sure to do your homework. What is excellent for you could be disastrous for someone else.

And, as always, make certain to build credit in the established order for the most mind-blowing, fastest benefits.

The post Your Excellent Question: What is the Best Choice Business Credit Card for a 0% Balance Transfer? appeared first on Credit Suite.

The post Your Excellent Question: What is the Best Choice Business Credit Card for a 0% Balance Transfer? appeared first on Buy It At A Bargain – Deals And Reviews.

Your Excellent Question: What is the Best Choice Business Credit Card for a 0% Balance Transfer?

The Best Choice Business Credit Card for a 0% Balance Transfer – Check Out the Hottest Cards!

According to the SBA, corporate credit card limits are a whopping 10 – 100 times that of personal cards!

And you won’t have to provide collateral, cash flow, or financial information in order to get business credit.

Credit card Benefits

Reliable Best Choice Business Credit Card for a 0% Balance Transfer

Get it here: https://www.usbankedge.com/credit/business-edge-platinum.do

Blue Business Plus from American Express

Also, have a look at the Blue Business Plus Credit Card from American Express. It has a 15-month initial 0% APR offer. There is no annual fee.

Right now small businesses can get double points. But this is on the initial $50,000 in purchases per year.

Get it here: https://creditcard.americanexpress.com/blue/

Best Choice Business Credit Card for a 0% Balance Transfer: Cards with 0% APR – Pay Zero!

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

Blue Business Plus from American Express

Get it here: https://creditcard.americanexpress.com/blue/

Best Choice Business Credit Card for a 0% Balance Transfer: Company Credit Cards for Luxurious Travel Points

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/gold-delta-skymiles/44279

Business Platinum from American Express

Check out the Business Platinum Card from American Express. Travel benefits including access to these airport lounge networks:

Priority Pass Select
Delta SkyClubs
American Express Centurion Lounges

You also receive Gold Status when you sign up for the Starwood Preferred Guest program. There is also a $200 yearly air travel fee credit.

There is a $100 credit towards the Global Entry application fee, which includes access to TSA PreCheck program. And you also get one point per dollar spent on the majority of purchases.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

Ink Business Preferred from Chase

Also, get one point per dollar on all other purchases. There is no limit to the amount you can earn.

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

Best Choice Business Credit Card for a 0% Balance Transfer: Credit Builder Corporate Credit Cards – Make Your Credit Surge!

Your purchase APR rate can be as low as a variable 13.15%. And the yearly fee is $25. But the more cards you have, the higher your annual fee is going to be.

This card lets company owners with poor personal credit to get a card to make purchases and establish business credit.

But the card will just report to the personal credit bureaus if you default or are late on payments.

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

Check out how our reliable process will help your business get the best business credit cards.

Best Choice Business Credit Card for a 0% Balance Transfer: Terrific Cards for Cash Back

Consider the SimplyCash Plus Business Credit Card from American Express. So you can earn as much as $400 cash back. Get a $200 statement credit. But this is after spending $5,000.

Also, get 5% cash back at US office supply stores and on wireless phone services. So these must be bought from US service providers. But this applies to the initial $50,000 of yearly spending.

Plus you get 1% cash back on all other purchases.

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

Bank of America Business Advantage Cash Rewards MasterCard

Also, check out the Bank of America Business Advantage Cash Rewards MasterCard Credit Card.

With it, you can get a $200 statement credit. But this is after $500 in purchases . And that is within 60 days of account opening.

You also get 3% cash back on purchases at gas stations and office supply stores. But this is as much as $250,000 yearly.

Also, you get 2% cash back on purchases at restaurants. And get 1% cash back on all purchases. Also, there is no annual fee. But it is available to applicants with outstanding credit.

But you can only redeem your cash back in $25 increments.

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

Check out how our reliable process will help your business get the best business credit cards.

Spark Cash Select from Capital One

In addition, check out the Spark Cash Select from Capital One. So you get 1.5% cash back on all purchases. So this is without restrictions.

New cardholders can also get a $200 cash bonus. But that is as soon as they spend $3,000 on new purchases. So this is during the first three months of account opening.

New customers also get initial APR of 0% on purchases. But that is for nine months. Also, there is no yearly fee.

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

Best Choice Business Credit Card for a 0% Balance Transfer: Secure Corporate Credit Cards for Fair Credit

For Fair Credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. But you will need a credit score of 690 or higher.

But BEAR IN MIND: the ongoing APR is 23.99% variable APR.

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

Check out how our reliable process will help your business get the best business credit cards.

Best Choice Business Credit Card for a 0% Balance Transfer: Unbeatable Cards for Jackpot Rewards

Also, you get three points on your choice of five categories. In addition, get two times the points on the remaining categories.

Also, get one point per dollar on all other purchases. It has a $0 yearly fee for the first year. But after that your annual fee rises to $175.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-gold-rewards

Business Platinum Card from American Express OPEN

Also, take a look at the Business Platinum ® Card from American Express OPEN. So you can get up to 75,000 Membership Rewards points at the time of account opening.

Also get 50,000 Membership Rewards points. But this is after spending $10,000.

In addition, get 25,000 more points. But that is after spending an added $10,000 all on eligible purchases. But this is during the initial three months.

Also you can get five times the Membership Rewards points. So this is on flights and prepaid hotels on amextravel.com. But it has a $450 annual fee. Yikes!

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

Your Best Choice Business Credit Card for a 0% Balance Transfer

Your very best choice business credit card for a 0% balance transfer will be dependent on your credit history and scores.

Only you can choose which features you want and need. So be sure to do your homework. What is excellent for you could be disastrous for someone else.

And, as always, make certain to build credit in the established order for the most mind-blowing, fastest benefits.

The post Your Excellent Question: What is the Best Choice Business Credit Card for a 0% Balance Transfer? appeared first on Credit Suite.

Happiness achieved in Northridge, CA… $60,500.00 in Business Revenue financing!

Our client has a rapidly growing company and needed to have the working capital to hire additional staff to better service his clients. He understands the importance of customer service, which is becoming a dying art in today’s day and age. Because of the financing he received he will be able to keep up with the pace his company is growing and still provide the outstanding service that he is known for. The financing process was so quick and easy that he could continue to focus on running his thriving business.

Glad to be a part of our client’s continual success!

Click Here to see how much funding you can get for your business.

The post Happiness achieved in Northridge, CA… $60,500.00 in Business Revenue financing! appeared first on ROI Credit Builders.

Happiness achieved in Northridge, CA… $60,500.00 in Business Revenue financing!

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.

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.