Archive for the ‘Business Loans’ Category
August 30th, 2011 | 
Author: 
David Gass asked:
Credit card services for small businesses have gained much importance today because of a sudden increase in the number of people operating small businesses from their homes. According to a recent study, there are about forty one million such businesses are in operation and two new businesses are starting every minute. Credit card service providers are trying to cash on this opportunity. They know that biggest problem the new small businesses are facing is of access to the capital. Credit card services for small businesses are very useful tool to solve this problem of cash crunch.
The two main brands that are providing credit card services for small businesses are MasterCard and Visa Business Card. Visa Business Card provides the credit lines up to fifty thousand dollars while the limit for MasterCard is one hundred thousand dollars. For expense monitoring and tax deduction identification, both companies provide quarterly or annual report of expenses without any charge. Visa card allows you to rack up the points, just like frequent flier miles in aviation industry, and get the discounts at several retail stores.
Eligibility Criteria;
If the number of employees is less than hundred or the revenues are not more than $10,000,000, you are eligible for getting these credit cards. As individual banks also provide these cards, it will be useful to do some research and get the best possible deal with minimum interest rates and no annual fee at all.
How to Choose?
It is true that you have just started your business and you are running a small business. However, you should a credit card service for small businesses that keeps the pace with you when you start growing. So, before you choose a credit card service, you should look for following points -
1. What are the regular rates of interest after introductory APR offer?
2. What is annual charge?
3. How much is the line of credit in the beginning and is it possible to increase later?
4. Maximum number of credit cards that an account can have.
5. Is something like airline mile point exists there?
6. What about cash rebate program?
7. Is there any kind of understanding with the leading retailers so that you can get discount on the purchases of office equipments using business cards?
8. Is online facility available?
9. Is it possible to delay the payment for purchases of big amount?
10. Will you get quarterly and yearly reports?
11. Is this information transferable to the existing accounting software of company?
12. Is it possible to have summary in the format of my liking?
There are professional help available online to help you with getting business credit cards for your small business.
Businesses Loans
Credit card services for small businesses have gained much importance today because of a sudden increase in the number of people operating small businesses from their homes. According to a recent study, there are about forty one million such businesses are in operation and two new businesses are starting every minute. Credit card service providers are trying to cash on this opportunity. They know that biggest problem the new small businesses are facing is of access to the capital. Credit card services for small businesses are very useful tool to solve this problem of cash crunch.
The two main brands that are providing credit card services for small businesses are MasterCard and Visa Business Card. Visa Business Card provides the credit lines up to fifty thousand dollars while the limit for MasterCard is one hundred thousand dollars. For expense monitoring and tax deduction identification, both companies provide quarterly or annual report of expenses without any charge. Visa card allows you to rack up the points, just like frequent flier miles in aviation industry, and get the discounts at several retail stores.
Eligibility Criteria;
If the number of employees is less than hundred or the revenues are not more than $10,000,000, you are eligible for getting these credit cards. As individual banks also provide these cards, it will be useful to do some research and get the best possible deal with minimum interest rates and no annual fee at all.
How to Choose?
It is true that you have just started your business and you are running a small business. However, you should a credit card service for small businesses that keeps the pace with you when you start growing. So, before you choose a credit card service, you should look for following points -
1. What are the regular rates of interest after introductory APR offer?
2. What is annual charge?
3. How much is the line of credit in the beginning and is it possible to increase later?
4. Maximum number of credit cards that an account can have.
5. Is something like airline mile point exists there?
6. What about cash rebate program?
7. Is there any kind of understanding with the leading retailers so that you can get discount on the purchases of office equipments using business cards?
8. Is online facility available?
9. Is it possible to delay the payment for purchases of big amount?
10. Will you get quarterly and yearly reports?
11. Is this information transferable to the existing accounting software of company?
12. Is it possible to have summary in the format of my liking?
There are professional help available online to help you with getting business credit cards for your small business.
Businesses Loans
Posted in 
Lexe Charleston asked:
Individuals with bad credit know the sting of its financial repercussions–whether they cannot qualify to finance a car or home, or otherwise. Millions of people are affected by bad credit, including numerous entrepenuers and small business owners. Phoenix small business investing officials know it is more difficult than ever to get a loan to help get a business off the ground. Still, it is not impossible.
Establish Business Credit
While Phoenix small business funding experts know that many small business owners do not want to wait years to apply for a loan, they recommend building business credit if a business owner has bad personal credit. The process can take a few years but Phoenix small business investing professionals highly suggest it because you may be able to quality for a better, low interest loan in the future. This is simple because if established correctly your business credit will be in no way tied to your personal credit, which means that when you go in to apply for a loan your personal credit will not be checked.
I. Formalize Your Business
Start by formalizing your business. This will immediately establish that it is seperate from your personal finances. LLCs and sub chapter S corporations are too formal types of business, for example.
II. Business Checking Account
Next, Phoenix small business investing officials state that you will need to start a business checking account that is under the formal name of your company. Make all business transactions through this account, and avoid using your personal accounts for business purposes.
III. Business Phone Line
You should also set up a business phone line under the formal name of your business. Contact phone companies to ensure that they report payment history and other information to the credit bureaus. This is important. If a company does not do this, you should move on and find a company that does.
IV. Trade or Vender Credit
Phoenix small business investing experts suggest setting up vendor credit. Vendor credit is when you acquire business supplies, equipment, and more from a vendor, and they finance you the supplies to you. You pay the vendor back over time and can keep an open line of credit with some vendors, where if you are making your payments on time you can continue to get more supplies. Small business funding authorities say it’s important to find vendors who do not require the use of any personal information that is tied to your personal finances and credit, like your social security number, for example. Everything should be done using business information and finances only.
V. Business Credit Cards
Lastly, you will need a few business credit cards. Again, they should be under the formal business name and you should always pay them off on time. Just as with vendor credit, you need to make sure that the cards are in no one tied to your personal credit. And just as with the phone line, you must make sure that the credit card companies report your payment history to the credit bureaus.
Credit For Your Business
Individuals with bad credit know the sting of its financial repercussions–whether they cannot qualify to finance a car or home, or otherwise. Millions of people are affected by bad credit, including numerous entrepenuers and small business owners. Phoenix small business investing officials know it is more difficult than ever to get a loan to help get a business off the ground. Still, it is not impossible.
Establish Business Credit
While Phoenix small business funding experts know that many small business owners do not want to wait years to apply for a loan, they recommend building business credit if a business owner has bad personal credit. The process can take a few years but Phoenix small business investing professionals highly suggest it because you may be able to quality for a better, low interest loan in the future. This is simple because if established correctly your business credit will be in no way tied to your personal credit, which means that when you go in to apply for a loan your personal credit will not be checked.
I. Formalize Your Business
Start by formalizing your business. This will immediately establish that it is seperate from your personal finances. LLCs and sub chapter S corporations are too formal types of business, for example.
II. Business Checking Account
Next, Phoenix small business investing officials state that you will need to start a business checking account that is under the formal name of your company. Make all business transactions through this account, and avoid using your personal accounts for business purposes.
III. Business Phone Line
You should also set up a business phone line under the formal name of your business. Contact phone companies to ensure that they report payment history and other information to the credit bureaus. This is important. If a company does not do this, you should move on and find a company that does.
IV. Trade or Vender Credit
Phoenix small business investing experts suggest setting up vendor credit. Vendor credit is when you acquire business supplies, equipment, and more from a vendor, and they finance you the supplies to you. You pay the vendor back over time and can keep an open line of credit with some vendors, where if you are making your payments on time you can continue to get more supplies. Small business funding authorities say it’s important to find vendors who do not require the use of any personal information that is tied to your personal finances and credit, like your social security number, for example. Everything should be done using business information and finances only.
V. Business Credit Cards
Lastly, you will need a few business credit cards. Again, they should be under the formal business name and you should always pay them off on time. Just as with vendor credit, you need to make sure that the cards are in no one tied to your personal credit. And just as with the phone line, you must make sure that the credit card companies report your payment history to the credit bureaus.
Credit For Your Business
Chris Wise asked:
Since starting started my first business at the age of 12, sharpening chain saw chains for equipment rental stores, I have discovered that there are four ways to access capital. But throughout my journey I’ve come across many “opportunities” on the internet that promises a Get Rich Quick approach to getting the levels of capital you desire. However, many of these are not legitimate. As I mentioned, legally, there are only four ways to access or receive money:
Borrow It – You can borrow the money from another person, usually done in the form of a promissory note. You can borrow the money from a bank in the form of a loan or line of credit. Typically, when you borrow money from other people it is called debt. It is the approach that I took on my path to becoming a millionaire. In later articles, I will go on to explain this in greater detail, explaining the main source of borrowing I have used, and continue to recommend to my students. Exchange it for Equity – You can receive money in exchange for ownership in a company which is also known as equity. If you are just starting your journey, it is unlikely that you will have a large enough stake in a company for this to be a viable option to get access to the levels of money you need. Production – You can earn the money by exchanging dollars for hours or by creating a system that produces value for other people that is then exchanged for money. If you were able to proceed with this option, then you would not be reading this article. Very few people can earn the levels of money they need through this approach alone. Stumble upon it – Lastly you can receive it from an inheritance or win it in the lottery.
These are the only four legal ways for anyone to access or receive money. And don’t bet on the last one. Having been in business since the early age of 12, I have studied and used the first three methods in my life many many times and what I have discovered is that borrowing money has been, by far, the easiest way that I have ever found to get access to capital. Stay tuned for future articles where I will go into detail on this method.
The Credit Company
Since starting started my first business at the age of 12, sharpening chain saw chains for equipment rental stores, I have discovered that there are four ways to access capital. But throughout my journey I’ve come across many “opportunities” on the internet that promises a Get Rich Quick approach to getting the levels of capital you desire. However, many of these are not legitimate. As I mentioned, legally, there are only four ways to access or receive money:
Borrow It – You can borrow the money from another person, usually done in the form of a promissory note. You can borrow the money from a bank in the form of a loan or line of credit. Typically, when you borrow money from other people it is called debt. It is the approach that I took on my path to becoming a millionaire. In later articles, I will go on to explain this in greater detail, explaining the main source of borrowing I have used, and continue to recommend to my students. Exchange it for Equity – You can receive money in exchange for ownership in a company which is also known as equity. If you are just starting your journey, it is unlikely that you will have a large enough stake in a company for this to be a viable option to get access to the levels of money you need. Production – You can earn the money by exchanging dollars for hours or by creating a system that produces value for other people that is then exchanged for money. If you were able to proceed with this option, then you would not be reading this article. Very few people can earn the levels of money they need through this approach alone. Stumble upon it – Lastly you can receive it from an inheritance or win it in the lottery.
These are the only four legal ways for anyone to access or receive money. And don’t bet on the last one. Having been in business since the early age of 12, I have studied and used the first three methods in my life many many times and what I have discovered is that borrowing money has been, by far, the easiest way that I have ever found to get access to capital. Stay tuned for future articles where I will go into detail on this method.
The Credit Company
