How to Continually Increase Your Biz Credit Over and Over!

“They explained to me that the bank cannot lend money to poor people because these people are not creditworthy.” Muhammad Yunus.

As an entrepreneur, you are responsible for two things: finding deals and finding money. Business credit is a great financing tool for your business including your real estate investing, so why stop after the first round of funding when you need more? There are six actions you can take to increase your business credit more rapidly.

 

Action Step 1: Apply for Another Round

Once you qualify and are awarded the initial business credit due to your personal credit history, you can apply for new rounds of funding every 90 days. However, you must keep your personal credit in tact because lenders favor people with low debt to credit ratios, high credit scores and timely payment histories. If you received business credit through 100 Percent Financed, our consultants will advise you when it’s time for you to apply for your next round.

 

Action Step 2: Start a Dummy Corporation

A dummy business, aka Shell Corporation, is used solely for the purpose in this instance to receive business credit. This way, if your real business doesn’t qualify for additional funding, you can apply for business credit under the name of your dummy corporation. To set it up, pick a name and register your business.

 

Action Step 3: Open a Foreign File Account

Let’s say you started a business in your home state, the state in which you live, and use your physical address for your business. You may want to consider foreign filing your business in another state that is lender friendly. There are states out there that are willing and eager to lend you money. As long as your business is foreign filed in that particular state, you can go to their local bank and apply directly for business credit.

 

Action Step 4: Set up a Virtual Office

The way to get a foreign file is by having a virtual office. All you are basically doing is paying a company a monthly or annual fee to forward your mail from out of state to your personal address or your local P.O Box. That way you won’t have to travel each week to retrieve your mail that is sitting out of state from your foreign file. The virtual office will provide you with a legal mailing address, and all your mail will arrive at one central location. Just so you know, lenders do not visit the physical address listed for your business location to verify that you have an actual business.

People often ask if it’s beneficial to have a separate address for your business away from your home. The answer is yes, because banks like to know that your business is a separate entity from your home life. They view it as having a more legitimized business than as opposed to operating a home-based business, and I should add that there is nothing wrong with having a home-based business. It’s just viewed as being more official when operating outside the home. And if you do not want to invest in a virtual office, you can always use a relative’s address; of course, you will have to get their permission first.

 

Action Step 5: Seek Personal Credit Line Increases

Every six months, you should ask your creditors for a credit line increase on your personal credit cards and your business credit cards. Regarding your business credit cards, lenders will want to know why you want an increase. The simplest answer would be to say that you want an increase for business use. You can always tell your lenders that you are a real estate investor always buying properties and you need the additional funding to finance labor costs and materials. Make sure you give them a specific amount. So, if your established business credit line is currently $40k, you can ask for a $62k line of credit; which is an increase by $22k. The key is to be as specific as possible, even if you have to itemize where the money will be allocated.

Some lenders may want additional information from you and may also want to check your personal credit file. That is okay because it’s a part of the procedure that they must follow. Now the reason to ask for an increase on your personal credit is to help your business credit. Lenders look at your personal credit against your business credit, especially since most business credit is based on stated docs and without having to verify your income.

Your personal credit reveals how you manage credit and how you pay off debt. The higher the credit line on your personal credit incentivizes lenders to match it to your business credit. So, if you are just starting out with business credit and your personal credit limits are lower around the $5k or $6k mark, lenders will customarily give you that same amount in business credit. Asking for an increase in personal credit will almost always determine the amount you will receive for business credit.

 

Action Step 5: Keep Your Personal Credit Clean

Maintain your personal credit according to industry standards. Pay your debts on time while keeping your debt to credit ratio below 30%. Lenders periodically look at your personal credit, and if it shows that your are not managing your debt the way they feel is appropriate, lenders can reduce your credit limits without ever telling you beforehand. You will most likely discover the decrease when you attempt to use your business credit card for a major purchase and the transaction is declined.

In conclusion, having some credit is not enough, but being creditworthy puts you in the position to not only build your credit portfolio, but to build your business. If you do not have any business credit, you can apply today and receive a funding estimate tomorrow. Apply at the link below for business credit:

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Biz Credit: Use it as the Down Payment for Multi-family Investing!

Investing in multi-family is a huge ordeal. Most people assume it requires a ton of money. Many people are brainwashed with the old adage, “It takes money to make money,” but guess what? It doesn’t have to be your money.

 

If you have enough passive income that actually replaces your paycheck, you can be financially free just like other real estate investors. There really isn’t much to it. Apply for business credit with a personal guarantee.

 

It’s actually beneficial for you to leverage what you already have, your credit. You may be that person with perfect credit, or near perfect credit. Personal credit can be leveraged to receive business credit that can be used toward a down payment on a multi-family investment.

 

The great thing about business credit is that it doesn’t show up on your personal credit report. You want your personal credit to look as pretty as possible, meaning- having no derogatory accounts, very few inquiries, and having a low debt to credit ratio. A credit report like that looks extremely promising to lenders when applying for mortgages.

 

Also, another great thing of having business credit with a personal guarantee is that since it doesn’t show up on your credit report you can max out the credit cards without affecting the Paydex score.

 

There are only two things that can happen, either you will qualify or you won’t. Most people think that if they don’t have the

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perfect credit, why bother applying? Apply anyway, because you will receive free consultation if you apply through 100 Percent Financed.

 

There is power in knowing where you stand when it comes to credit. All of us didn’t start out with a 720 credit score. But having a 680 credit score may be good enough to get your foot in the door. Even if you are no where near having a 680 credit score when you apply, 100 Percent Financed will tell you specifically what you need to do to get approved.

 

That may be recommending paying down credit cards, disputing inquiries, or asking creditors to increase your credit limit to improve your debt to credit ratio. 100 Percent Financed will look at your credit report and the financials concerning your business. Maybe you don’t have a business incorporated yet, but you can still apply and if approved you will receive funding within 30 days of approval date. The average person receives anywhere from $40K to $75K on the first round.

 

If you were to get business credit without a personal guarantee, that is considered corporate credit, then you will not receive the credit cards within 30 days of applying and you might not receive as much as $40K in the first round. It may take up to a year to get funded.

 

Let’s say you do qualify and receive business credit cards within 30 days. There are no upfront fees involved. You only have to pay 100 Percent Financed their fee after you have the business credit cards in hand. That’s pretty cool, huh? You are paying them based on their success rate.

 

If 100 Percent Financed is unsuccessful in getting you funded, you won’t have to pay anything and you walk away with a free consultation. There’s really nothing to lose, but there’s the potential to gain upwards of $75K.

 

The capital can be used toward your down payment on your real estate investing or other business ventures. If you need guidance on how to put that money to work, there is the eBook:

100PF Total eBook/Audiobook Package: DIY Credit Repair, Real Estate Investing, Start Credit Repair Biz, Credit into Cash, and More!

 

This eBook will teach everything that you need to know about how to find a property, analyze a property, manage a property, how to rid yourself of the property using proven exit strategies and so much more. It will even tell you how to take business credit cards and convert them into cash.

 

Success isn’t a linear process. It’s a process in which you’re doing multiple activities simultaneously. While your application is being processed and say the results turn out unfavorable, you can begin the process of repairing your credit and also use that time to learn about investing.

 

Maybe you a DIY person, or maybe you’d prefer someone else to put your capital to work for you. This is something you have to determine by knowing what all you bring to the table, i.e. capital, credit or time. If you have the credit, capital and time you are in a position to invest in multi-family properties without the help of anyone, but if you lack any of the three things mentioned, you have the option to outsource.

 

You can outsource to someone one who is an expert in the areas you lack. 100 Percent Financed welcomes partnership to those interested. Once you have the education and the finances, you can get started with investing and outsource the things you aren’t completely knowledgeable in yet. Partnership can alleviate you dealing with things like seller financing, occupancy rates, physical inspections, income ratios, and cap rates; things that 100 Percent Financed are experts in.

 

Again, you can use business credit for a down payment on multi-family investments. It only takes a few steps of getting a solid knowledge base and getting your credit to an acceptable standard, and there’s no need in becoming overwhelmed because consultation is available through the entire process.

“We cannot teach people anything; we can only help them discover it within themselves.” Galileo Galilei

Apply For Business Credit: https://mwcc.wufoo.com/forms/janine-herrera-prequalification-form/

 

Increase Your Income Exponentially By Becoming A Credit Affiliate

Entrepreneurship is in, and it will continue to grow. It is thought of as the new wave of the future and it may be just the time for you to step in. The days of getting and holding on to a good job for security and benefits is long gone and predicted never to return again. So what is out there for you to do?

 

Starting a home-based business is always an option; and you can start it with little to no money in upfront fees depending on the industry you want to get involved in. Let’s say you tried to start a small business and it didn’t pan out for whatever reason; maybe you didn’t have the finances needed, or meet the specific requirements to obtain funding; but you don’t have to let that stop you.

 

Becoming a Credit Repair Affiliate for 100 Percent Financed may be your answer. The affiliate program is where you promote credit repair to family, friends and prospective clients to sign up for credit repair services while you earn a commission.

 

Your clients are people who have unverifiable and inaccurate accounts reporting on the three major credit bureaus negatively. We will be your back office and dispute negative accounts for your clients. You have the option to charge whatever you want for your services, however you will be required to pay 100 Percent Financed a set fee for the four months of credit repair enrollment service per each client you refer.

 

We will handle the letters and the correspondence from creditors and the credit bureaus that your clients forward to you so that you do not have too. You just have to forward the documentation over to us. You will be the face of your company; name it whatever you wish, without having to do any of the work except for getting people to sign up and of course cashing your commission checks. We will even handle mailing out the letters for you.

 

Not only is this a great way to make some extra cash, but also it is a great way to get your foot in the door of financial services. While you are promoting credit repair and getting paid for it, you can use your commissions to improve your own financial status by going to seminars, workshops and incorporating your business to add on other financial products your clients may need.

 

Let’s face it, we all know someone who wants to start a business, purchase a car or buy a house; but his or her credit is way below standard. You can put yourself in a position to help and turn their situation around and in turn they may refer people they know to you and it can become a snowball effect.

 

AOL’s co-founder Steve Case in the article Steve Case on the Opportunities for Future Entrepreneurs discusses his views on entrepreneurship (unrelated to credit repair or any particular business or industry) and says that when it comes to being an entrepreneur, “There are certainly some who could potentially go it alone. But entrepreneurship is a team sport. One person can do only so much. To really have a broad impact, it comes down to how you build the team around you to get the leverage and impact at the scale that you want.” Well, 100 Percent Financed can be that team for you. All you have to do is secure the clients and we will service them for you, supporting you along the way.

Steve Case also says, “Make sure you’re identifying a big problem that needs to be solved or an opportunity that needs to be seized–and go for it.”

In this day and age, having good credit is imperative, because without it people are limited in living the type of lifestyle of their choosing and having the things they desire or deem necessary. To begin your new home-based affiliate business complete the online application provided at the link below:

100PF Credit Repair Affiliate Program Application

 

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More Money = Less Problems: Overcome Your Fear of Money Today

Question: does thinking about large sums of money ever overwhelm you? No, I’m serious. When you think about money and how much it will take to complete a project, invest in real estate, start a business, or just by visualizing thousands upon thousands of dollars sitting in your bank account that you are personally responsible for, has it ever frightened you to where you conclude that it’s just too much for you to handle mentally and you revert back to small-minded more comfortable thinking. You end up regretfully settling for what you have accepted as the “cards” you were dealt with.

 

Wealth building becomes difficult when you perceive money as an obstacle. Maybe as a child money was a stigma in your household, as it was in mine, because your family wanted it, needed it, but it didn’t seem to respond in kind leaving you with sentiments of insufficiency, uneasiness, distress, and as being bothersome.

 

Even if you are an entrepreneur your mindset still determines whether or not you are working for your money, or if you are letting your money work for you. If money is controlling your life even with a financial plan in place, then your mindset for success is basically fear-driven. One clue that will tell you if money lords over you is that if you think saving and paying off debt is the key to your financial breakthrough.

 

This particular plan of action makes you feel that you have a less likely chance of being screwed financially by creditors, debtors, family and friends than having a positive feeling of being on a “come up” so to speak. So you may think that it doesn’t matter how you feel, just being on the right financial track is all that matters to you.

 

However, the desire to obtain wealth should promote feelings of abundance. A positive frame of mind enables you to make superior money decisions, and inferior money decisions are based on scarcity, it is stemmed from a fear-based mindset.

 

Scarcity can cause you to hold onto your money no matter how much of it you have, and miss out on the opportunities you have prepared for. Opportunities like investing in multi-family housing, starting a business, improving and increasing your equipment and inventory. You did all the legwork, taken the training, became certified and got your LLC and incorporated. You may even be functioning on a small-scale operation.

 

But now you are coming around to see how your personal relationship, your way of thinking about money has played a vital part in preventing you from achieving and fully realizing your aspirations and dreams; and now you are ready to make a change, and I personally applaud you for it. Nonetheless, it will take some time to alter your mental and emotional relationship with money for more positive affects, but the good news is that it can be accomplished by employing patience as your teammate.

 

Several Steps You Can Take to Reach Abundance

  • Admit that you have a fear of money.
  • Contemplate your life’s experience with money and how it made you feel.
  • Understand that past circumstances do not define who you are as a person; therefore, adopt new beliefs about yourself and money.
  • Appreciate the money that you do have by realizing it is there to work for you and not against you.
  • Make a decision to use your money to accomplish your goals for success.
  • Realize it is a tool for you to use purposefully for the good of mankind.
  • Seek out necessary funding to reach your target goals.
  • Change your inner-dialogue about money by instituting positive affirmations like:

I Am rich.

I have all the money I need and plenty leftover to help others.

I operate my business with an abundance mentality.

My money is good to me.

My money works for me and I don’t work for it.

I look for, I embrace, and I find moneymaking opportunities all the time.

 

As you work on your new beliefs about money you can still work on your ambitions simultaneously. If you do not meet the traditional requirements of the banks for funding, you may qualify for Stated Income products: no docs required, unsecured business credit cards. All that is needed is your articles of incorporation, SS4 from the IRS when you received your EIN number. These business credit cards do not show up on your personal credit report as lines of credit, or as installment debt and you do not have to have a seasoned business.

 

They can be used for anything; it is up to your discretion. I recommend using them for unexpected emergencies, or for acquiring income-producing assets such as multi-family properties, flips, or to inject cash into your business because cash can be pulled off these business credit cards.

 

In order to qualify you will need to have a 720 credit score ,or be close enough to it; no bankruptcies, no foreclosures, no late payments in the past 24 months and a credit card with a $5k limit. You can apply today and receive a funding estimate 24 hours later without a hard inquiry hit to your credit file.

 

Prove to yourself that you are determined to have a new outlook on money and you are ready to fulfill your purpose in life. Apply for business credit cards today, and if you do not qualify there are consultants available to walk you through the process.

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