Inspiring Investments, LLC

03/01/2024

08/01/2023

.

Imagine having the ability to access almost $50,000 for your business. Your success in business is based on your business credit profile and score.

08/30/2022

This webinar will provide details about financing and some of business credit.

Register for free here.

A great website is essential for your company’s success. If you are looking to build a new startup website or make your current site more effective, join us as we explore the key steps to getting started and helping your small business website compete effectively in the online marketplace. Join us...

07/25/2022

Steps to help your business proceed towards obtaining capital.

1. One should make sure their business meets lending requirements.

07/25/2022

Hi! I thought you might like to read this article: Steps to help your business proceed towards obtaining capital.

1. One should make sure their business meets lending requirements.

03/02/2022

Financing Tips...

Lenders and credit issuers have a secret set of criteria you must meet to get approved, if you meet the requirements, you can get an automated and immediate approval, if you don’t you get denied.

Many business owners have experienced this before when applying for credit cards.

Many entrepreneurs think their loan applications get denied because they don’t qualify, but in reality, more than half of bank loan applications get denied due to potential fraud concerns because your business doesn’t meet these fundability standards which are (fraud red flags).

There are several fundability factors that affect your approval and not meeting these is why your application will get denied.

Once you have established your fundability, now it’s time to start building your business credit profile.
This is a process, and you start with getting some beginning vendors who will approve you with nothing reporting then you’ll move on to the higher limit, more well-known sources.

02/08/2022

Business Credit Has No Impact on the Business Owner’s Personal Credit...

When done properly, you can get business credit without supplying an SSN on the application.

This means there is no credit check from the business owner for approval.

This also means that anyone who has bad, even horrible personal credit can still get approval for business credit. (I still educate clients to work on personal credit also)

Business credit reports to the business credit reporting agencies, not the consumer reporting agencies.

As business credit is used it has no adverse impact on the owner’s consumer credit because it’s not reported to consumer agencies.

This means using the account, even over 30%, won’t have any impact on the personal credit scores.

Also, there are no inquires on the personal credit when you apply for business credit as long as you don’t supply your SSN.

30% of your total consumer credit score is based on utilization, so if you use your personal credit to get credit cards for your business and if you use those cards you will lower your scores.

Using more than 30% of your limit WILL result in a score decrease.

If your limit is $1,000, a balance above $300 lowers your scores.

This means 40% of your total score is damaged just by applying and using the credit you get with your consumer scores.

True business credit affects 0% of your score.

10% of your total consumer credit score is based on inquiries, so if you are using your personal credit to apply for business loans and credit, your scores will go down due to those inquiries.

Those inquiries can stay on your credit for an extended period of time affecting your ability to borrow more money with Lenders.

And some unsecured business lending sources won’t lend you money if you have two inquiries or more on your personal credit reports within six months.

With business credit, the credit doesn’t report to the consumer agencies, so neither inquiries nor utilization have any effect on your consumer credit scores.

This is one more reason every successful business has business credit.

Call us today at 1.888.568.7718 ext. 101 so we can talk more about getting money and credit for you and your business.

01/29/2022

Stress Less, Earn More.