Everyone knows personal credit is important, business owners know business credit is necessary for the growth and success of any business. Based on our personal experience at Damelecia, INC. Business credit services (BCS) is the best resource you can use to achieve creditability for your company.

One of the most important things to establishing business credit is knowing where to start and how to start the process, with Business Credit Services we were assigned our own personal coach who walked us through all the steps making us knowledgeable about all the processes.

With BCS we were able to secure several lines of credit for our business without using our personal credit to guarantee the loans. Within the first six months of our coaching with Business Credit Services were able to secure credit from nine different vendors with as much as $5000 per vendor totaling over $40,000 all without checking our personal credit.

 Here is how a business owner start out establishing business credit with the help of Business Credit Services, first they complete a credit ready report that covers your business creditworthiness and advise on any steps you as a business owner needs to make to achieve compliance in the credit process. The research on your business comes from the same databases that many lenders use to determine creditworthiness.

Then your business is assigned a coach that explains the credit ready report to you in more detail. Some of the next steps may be things like registering with better business bureaus, local directory listing, registering with the credit agencies that include Dun & Bradstreet, Experian business and Equifax business. 

After your business as achieve presences with the bureaus which could take up to 4 weeks. Business credit services will start sending you vendor’s application every week which is divided in teirs

Teir 1 lenders, which are tropical trade credits business to business credit that usually are reporting to Dun & Bradstreet quarterly or monthly, this is a great start for your business, because theses lenders don’t usual require any personal or business credit checks .

Teir 2 lenders usually require a business credit check before giving credit, because of larger credits and long terms agreement.

Teir 3 is bank financing this where your business can apply for unsecured line of credit; usually these lenders require personal guarantees and business credit check.

Teir 4 is investors that include private investors, venture capitalists and angel investors. Usually these investors want financial statements and strategies on your business. Once your business starts Teir 3 and Teir 4 you will need a written business plan. Business credit services assist your business through the entire process of writing the right business plan.

Click below for FREE Business Credit E-Book + 2 additional E-Books

http://www.damelecia.com/contact-us/resources

This entry was posted on Tuesday, November 11th, 2008 at 10:45 am and is filed under Entrepreneur. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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