Hey, it's Ty Crandall with Credit Suite and in this video we're going to talk about why you should
never use a UPS address or PO address PO Box address for your business address. So by the end
of this video you're going to know exactly why PO Boxes and UPS addresses are treated so
uniquely different by a lenders and credit issuers and you're probably going to think a little bit more
of whether or not you should use those as your primary business address. So look when it comes
to business address is what you choose is very important because the address type that you have
determines how credible and legitimate your business is as a matter of fact places like
Dun & Bradstreet are now even including Google street views of your business on your business
credit report. So for example if you're using a home address you can imagine what it looks like
the lenders and credit issuers when they pull that report and they see a big picture of your house on
the front page is that what you're looking for well you've got to make sure that you choose the
right address types, so you look as fundable as you can to the lenders and credit issuers that you're
hoping will give you financing and there's several different address types you can choose from let's
talk through them. Primarily the best option you could choose is a real physical address where
you actually are working out of a real business commercial location whether you're buying that
property or leasing that property really make no difference but what's matter is what matters is
that you're working from a real physical address but let's be honest some of us don't need that
some people can work from home just fine without paying the expense of an office this is where
virtual addresses come in, virtual addresses are amazing resources because what they allow you
to do is basically get an address that looks like you're in a high-rise office building in a place
like Tampa Florida but you're only renting the mailbox there you're not renting the physical
office space so it lets you get the benefits of being in a big office and the credibility
that gives you without the expense of actually having an office in that type of location. With
virtual addresses you're basically just renting the mailbox and it's significantly cheaper than
if you were physically paying for the location. Now you can go to creditsuite.com/virtual
to see our preferred source when it comes to virtual addresses we helped hundreds of clients
get into virtual addresses and we've tried them all and creditsuite.com/virtual
is the number one choice that we think works best for every business that's interested in a virtual
address. Let's talk about your home address that's the third choice if you can't be in a physical
address which is the first choice and you can't or don't want to get into a virtual address then
the third choice is your home address this is the last resort option you have, with home addresses
you can still get all kinds of credit financing but some credit sources and some financing
sources just won't lend you money or they won't issue credit when they recognize that your address
is a home address, and you should know that they will okay the technology that's being used by
lenders quickly allows them to determine if an address is a home if an address is an actual
commercial location or if an address is a PO Box or UPS address you can't fool the lenders
and credit issuers. So you need to make sure that you're coming in and getting the right address
that you want them to see because they're going to know the type of address that you're going to
use. So again do you want them to see a home address and think that you're not as credible as you
could be not get the best rates in terms not get the greatest amount of money. That's where virtual
addresses makes sense but if you're okay with some sources not approving you or some sources
not approving you for as much money because you're choosing a home address then go with
the home address there's still a lot of benefits of using a home address above and beyond a PO
Box or UPS address so let's say that you can't be in a physical location or and you don't actually
want to get a virtual address and you don't want to use your home address and you're insistent on
using a UPS or PO Box address well that's when you really have to be careful because there's a
lot of lending sources and credit issuers who absolutely will not approve you because you're
using either a UPS address or a PO Box I know a lot of people are led to believe that because it's
a UPS Store that it looks like a real physical location but let's be real anybody can Google
that and see a Google Streetview to know it's a UPS store and the worst part is is that PO Box
and UPS addresses back in the 80s kind of lost a fight and got put into a database that lenders
and credit issuers can pull from this address or this database helps them recognize that address
as a UPS address or PO Box, virtual addresses won that fight and they're not in this database. So you
can use virtual addresses and seen as having a very credible office in a really expensive
office space but you can do the same thing with UPS addresses and PO Boxes the minute you in or
either of those in a lot of cases the lenders and credit issuers know the type of address you have
and that automatically either gets you denied or makes you face more stringent underwriting
guidelines to get approved, neither one of which you want when you're trying to get money for your
business. So here again is the order you want to first get a real physical address if it makes
sense second get a virtual address if the physical address doesn't make sense third and last resort
use a home address but never use a UPS address never use a PO Box address that automatically
will get you denied with a lot of lenders and a lot of credit issuers so for more tips and tactics
on building business credit getting financing overall how to get money for your business
business visit us online at creditsuite.com if you visit us at creditsuite.com at the top right
of your page you will find our social media links there you'll see we go live on places like YouTube
and Facebook weekly we give tips daily on places like Instagram, Facebook even Twitter and we even
have hundreds of videos on our youtube channel or you can listen on the fly on our podcast but
whatever you do tune in to get more information on getting credit and financing to grow your business.