Answering your questions about business credit pt 4
If you have been denied by the bank for a loan you’re not alone. Let me help you with that.
Most entrepreneurs know how to get funding for their businesses by getting a loan or using someone else's money. The problem with that is you put yourself in debt you have to pay off at a high-interest rate.
Leveraging business credit is a way to "work smarter, not harder" to build and scale your business with 0% interest.
So, what are the things you need to do as a business owner? The term "business credit" can seem intimidating to most business owners.
That's why I started this blog series: I want to empower entrepreneurs to the point where they can shatter the statistic about how often new businesses fail after their first few years.
Let's answer some more questions about business credit to make sure you are using business credit to your advantage.
How do I check my business credit score?
Interestingly enough, there is no separate score for your business credit. They just run it through your personal credit score.
The only relationship business credit has with your personal credit is whether or not you can apply for a card and the boost it gives to your score when you can open one.
Let me be clear: having more business credit cards can help improve your personal credit score. A business credit card does not report against your personal FICO score.
Imagine the power you could have when you get approved for a $50,000 business credit card at 0% interest. You can scale your business with all that money and not worry about it hurting your credit score.
Where do I apply for a business credit card?
There isn't a special location you need to go to. You can apply at any bank where you have a business checking account.
The only requirement to open a business checking account is an Employer Identification Number (EIN) and at least a 650 credit score. You get this when you create a business or LLC.
Don't have a business or LLC? You can buy a "dying" one or become a 25% owner. You can learn more about it in another blog I linked below.
Who should get a business credit card?
Anyone who wants to be a successful entrepreneur!
Accessing business credit is the best way to scale and grow your personal business to scale things out rapidly with 0% interest.
There is a wealth of funds waiting to be tapped into. If you join my Credit Stacking mentorship, I can show you how to access it.
I have been studying business credit for years and was approved for $50,000 at 0% on my first business credit card! It doesn't take a special type of person to get approved.
The only requirements are a credit score of at least 650 and a desire to learn and go through the methods I teach in the mentorship.
Relieve the stress you have about funding your business by joining the Credit Stacking Community.