Vintage

Put simply, corporate or business credit is the potential amount of money (credit line) a loaning institution is willing to give you to conduct business. This money is used for a number of things such as buying equipment, meeting payroll, advertising, purchasing warehouse and office space, or for research and development efforts. Of most importance to any loaning institution is your business profile. Typically, it takes time to establish the kind of business profile that inspires confidence in lenders.

Similar to a personal credit profile, a business credit profile is made up of many factors including how long you have been in business, the size of your company’s assets, your personal financial resources, and the history of paying your creditors.

Your business needs a solid foundation to secure the type of funding and financing that it needs. As I’ve mentioned before, this takes time. However, I can help you speed up the process. I will share with you the tips and techniques I learned while with Dunn and Bradstreet as a Senior Analyst. For me, it’s all about finding solutions to your problems.

If you are a startup company with no real credit history, it’s important that you take the steps to build your credit as soon as possible. This includes securing a federal employee identification number and the licenses required to do business. One of the services I provide is helping you shorten the time it takes you to develop an attractive and positive business profile while, at the same time, building a solid foundation for the future.
Sometimes purchasing an aged corporation can help get easier access to corporate credit. These companies, also called “shelf” corporations, can be appealing to lenders as they have the appearance of longevity. Be aware however that you may only be able to obtain limited lines of credit with shelf corps.
For all types of companies, it’s important to establish corporate or business credit before you actually need it. This is confusing to some at first. I’ve heard comments like, “Why should I borrow money before I really need it?” The simple answer is no one loans money to a business or corporation that does not have a solid credit history. It will be much easier to approach a lending institution with a solid business plan and a good track record of paying your creditors (rather than when you are in dire need for a loan or have a cash flow problem).

No matter what type of business you have or what problems you may have acquiring credit, I can show you the proper, specific steps to improve your business profile and credit potential. I’ll work with you to build the type of foundation that leads to achieving corporate credit.