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Building Business Credit Home >
Building
Business Credit Basic Methodology |
Building Business
Credit Basic Methodology
AKA - THE ILLUSIONIST METHODOLOGY
This methodology of building business credit is
employed by individuals and companies who are
only aware of basic methods and strategies of
building business credit. Ultimately, you will
not get what we define as "REAL" business
credit (initial credit lines of $50,000 -
$250,000 with the opportunity to make it grow to
$1,000,000 in a year). The basic methodology
relies on the fact that the consumer will see
what appear to be results. The customer will get
some business credit and will obtain an 80
Paydex score. These companies believe that if
they get you these two items (business credit
and an 80 Paydex score) they have succeeded.
They will rarely, if ever, tell you prior to the
sale that you will have issues getting any
"REAL" credit out of their fear of losing the sale.
YOU CAN EASILY RECOGNIZE THOSE WHO
EMPLOY THIS METHOD
Building business credit via books, cd's,
videos, or any other medium that doesn't require
a one-on-one connection between the client and
the coach. If you really think about
it you will realize that each and every business
is different. It is impossible for a company to
be coached properly by an inanimate object. Will
the books know that your industry has recently
been blacklisted, or that your business name
doesn't fit quite right and couldn't obtain a loan no matter what other factors
were present? Will the book explain to you that
your business of selling Pez dispensers on ebay
will not qualify your business for a loan?
Companies selling these items count on the fact
that you CAN get some "business credit" and even
an 80 Paydex score no matter what business you
are in. This illusion keeps customers from
complaining too much and allows the company to
continue their illusionary practices.
Building business credit via personal
coaching without regard to the structure of the
business, type of business, or age of the
business. If you ask companies
the following questions and they tell you that
you will not have a problem building business
credit they are using the basic methodology and
you should not use them.
Question 1.
- Can I use your program to build business
credit on my "S" corporation? Although you can
get some credit, you will not be able to get any
amount of "real" business credit, The reason you
will not get the credit you want as a "S"
corporation is that by declaring to the IRS that
you are an "S" corp. you are telling them that
your business is in its infancy and that you
plan on losing money in the business, which you
will deduct on your
personal tax returns. This is why lenders don't
want to lend any real money to "S" corps.
Companies telling you that you can build
business credit on an "S" corporation without
explaining this fact to you are counting on you believing the illusion that having some
business credit and a Paydex score will lead to
the "real" credit you desire. Unfortunately, they
will almost always try to hide the limitations
of their service.
Question 2.
- My business is real estate investments, can I
still build business credit? Due to the current
real estate environment anyone in the real
estate business will not be able to get a "real"
loan. (There is a very specific advanced method
around this dilemma). However, if the company
says "yes" they are again trying to hide behind
the illusion for fear of losing the sale.
Question 3.
- My business is only 8 months old, can I still
build business credit? It is a long standing
rule that lenders do not want to typically lend
money to businesses that are less than 2 years
old, however this fact is not disclosed when
speaking to someone trying to sell you the basic
methodology. They are again relying on the
illusion because you WILL get some business
credit and a Paydex score. The advanced
methodology has a way to mold, manufacture, and
engineer some additional age within your
companies profile. If we can't use this method
to get you the full two years generally needed
we offer "Credit Ready Shelf Corporations".
Building business credit yourself with
the assistance of online forums or discussion
groups. The problem with these forums
is that you have no idea what the knowledge base
of the individuals posting responses to
questions is. So much of your long term success
depends on the foundation you are using to build
your business credit. I have seen dozens of
suggestions for how to handle one specific
business credit factor, and EVERY suggestion
would limit the credit a company would receive.
I saw one posting that said you can easily build
business credit while working out of your home
and a few minutes later the same person
suggested that the company list over 10
employees. How exactly do you explain to the
bank that you employ 10 people and are a home
based business? These inconsistencies in your
file will still allow you to get some basic
credit and an 80 Paydex score but will
ultimately limit your ability to obtain credit.
THE BIGGEST PROBLEM YOU WILL HAVE WHEN
USING THIS METHOD IS......
The biggest problem your business will have if
you employ this method is that the illusion can
have you FOOLED into believing that this method
actually works! The reason that you will believe
this is because you WILL have some business
credit and you WILL have obtained an 80 Paydex
score. The unfortunate fact is that, you may
NEVER BE ABLE TO GET THE CREDIT LINES YOU ARE
SEEKING!!!!!
WORSE YET.....YOU WILL RUIN YOUR ABILITY TO GET
ANY REAL BUSINESS CREDIT BECAUSE ONCE YOU MAKE A
MISTAKE IT CANNOT BE FIXED.
IF YOU MUST USE THIS METHOD DO NOT ATTEMPT IT
UNLESS YOU ARE USING A "THROW AWAY" CORPORATION
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