How to build business credit without a personal guarantee?
Business credit is essential for any aspiring
or established entrepreneur no matter where you are
in your entrepreneurship journey, you need business credit. It will unlock
hundreds of thousands of dollars that you can use
for your business which will allow you to be successful. So,
let me tell you exactly how to do it without risking your own credit in the
process. Let's go.
I'm going to share with you an easy step-by-step process for getting this
done that I have students doing every single
day and it still works. You can literally look in the comment box below and see
that this is working for other people. I'm going to give you my biggest secret
for building business credit fast, faster than I did it for sure. And
I'm going to give you a super secret bonus insider tip on how to get
$10,000 in your business's name in the next
30 days. Okay. So, let's talk business credit
versus personal credit. Because this is the first thing that you need to
understand for you to be able to accomplish
any of this. So, business credit is much different from your personal credit. So,
your personal credit many of us are already aware,
we have three different bureaus --Equifax, Transunion,
and Experian. And those 3 credit bureaus will report our personal
credit. So, if we have a car loan, if you have personal credit cards, if you have a
mortgage, student loans, things like that; those
will all report on your personal credit. And we all have a
personal credit score that's really tied to some things that business credit
is not. So, I'll tell you the difference right now. Business credit is completely
separate. You have the same.. Well, you have 2 of the same bureaus
but they're different. So, you have Equifax business,
you have Experian business and you have the big one
--Dun and Bradstreet. Dun and Bradstreet is the major
depository or reporting agency for business credit.
But the thing that is so much different from business credit versus personal
credit is what they are looking for and how
they score you. So, what personal credit as many of you guys know is pretty easy
to mess up your personal credit score. You can get a couple of credit cards, if
you pay them late, you're going to have a low credit score.
Or even if you use those credit cards and your limit and your
your balance is close to your limit, you're going to have a low credit score.
But the great thing with business credit is they look at something different.
They of course know that you're a business, they want you to borrow money,
they usually lend a lot more to you than they do for personal,
one. 2, as you use that debt and you're able to pay that debt,
they reward you much differently than they do on the personal credit side.
You can easily see your credit score go up on the business credit side
really quickly just by paying on time. Even if you're using
most of the credit line that they gave you. Because what they're looking for
on the business credit side is how well you manage your debt.
As a business, they wan to... They want businesses. They know that big businesses
have big debts, okay? If you look at any large corporation, Microsoft, Apple,
whoever you look at; I promise you they have tons of debt.
Millions and billions of dollars, in fact, okay?
But the reason why they can grow their company is because they can leverage
all of that money, all of that capital. And as long as they're able to pay it
back, banks and lenders will continue to lend
them that money so that they can keep growing their business and their
business gets larger and larger and larger.
But the problem is most small business owners see themselves as a small
business and they rely on their personal credit
and they never really tap into this business credit side
which unlocks millions of dollars for your business.
Literally millions. And so, let me tell you how you do that because it is so
easy. And I made the biggest mistake and
waited too long and I don't want you to do that. So, let's get into that part
so let me tell you how I unlocked millions of dollars in business credit
and how you can do the same. So, like I said, my biggest mistake with
business credit is I started way too late, okay? So, I literally
started in real estate investing, I literally was in my parents basement. I
was bankrupt. I had multiple foreclosures on my credit
report, I was married, I was pregnant. I was a
loser, okay? Literally didn't have a college degree. Ended up back in my
parents basement because I was trying to flip houses and i didn't know what i was
doing. And so, when we lost our jobs, we lost
everything. But in that low moment and that
embarrassment and that low time for me, I literally got serious about real
estate investing and I found me a coach that taught me how to do wholesaling. He
taught me how to buy properties with no money and no credit,
okay? So, I'm going to tell you how you put all
this together in just a second. So, that was what my plan was. Because I had bad
credit and I had no money, I could only do wholesaling. I could only
get properties under contract and then flip those contracts to
investors that had money. Because I had bad credit, I couldn't do anything with
the property. But I could make a fee for doing that.
And so, that was an amazing way for me to kind of get on my feet, I started
wholesaling. Getting 5-10 thousand dollars for that.
Then I started fixing and flipping and then I started getting some rental
properties. So, this is how that changed my life. I was able to quit my job.
Literally walked away from a six-figure job
just with my rental properties. Mind you, you have not heard me say one thing
about business credit, right? I did it the hard way. So, let me tell you
the easy way to do it because this came along after I was literally
already full-time entrepreneur, working for myself, teaching people how to do
this. I had a student that came along and he
taught me how i can make more money on my properties instead of doing long-term
rentals, we could do short-term rentals and do Airbnb
and make 2-3 times what I was making on a rental property.
And I did. Literally started making 15 hundred, 2 thousand dollars on
one property where I was just making $300 before.
But I now started to know about business credit. So, when I was going to
turn some of those properties from long-term tenants,
unfurnished apartments and unfurnished houses, I needed to furnish all of those
properties, I needed to put towels and sheets and
forks and knives in the property. But I didn't want to use my own money. The time
I was learning about business credit and I started getting
some business credit cards. I literally was able to buy everything
from my units on business credit. Did not affect my
personal credit at all. I was able to furnish all the
properties by everything that I needed. And before
I even started had to repay any of that money back, I already had my properties
rented and i was already making money. It was like a light bulb went off and
that skyrocketed me from 6 figures into 7 figures. And I'm telling you,
you can skip that part and go right to the seven figures just by
unlocking some of this business credit that I'm going to tell you how to do.
So, let's talk about how you build business credit without a personal
guarantee because this is amazing and this is something that you can do
immediately. Literally i have students that do this in one day.
In order to build business credit, you will need an actual business,
okay? So, you're going to need your business registered either as an LLC
or a C corp or an S corp. You'll get it registered with the secretary of state.
In some states, you can do it in one day and you can do it all online. You're
going to need a professional phone number. You can get one through
grasshopper or freedomvoice. You're going to need a professional
email. Easy to do. You can buy it from godaddy or google
domains or epic.com. You can buy a domain name after you've named your business.
So, one of the things, just giving you a quick example. So, say you have a business
and it is abc properties or abc enterprises. Go ahead
and check and see if that domain name is available. Just google domain names,
godaddy and you can search and see if that domain name is available
and get a website. You'll also need a professional phone number
and a professional address. Those are the simple things that you need. And that is
it. And then once you have those things, you'll go and you'll get an IRS
number. An EIN number directly from irs.gov.
This is completely free, okay? Completely free.
Once you have these things established, you can start building business credit.
And again, I literally have students that do those 5 things in one day. They get
their business registered, professional phone number, professional
email, okay? Get their website in their domain name
and then they get an EIN number. Those 5
things. Done. That's all you need in order to get this
going and start establishing business credit.
Next step. So, next step is the dun and brad street number. This is super easy.
So, like I said, once you have all these things established, you go directly to
dnb.com. Dun and bradstreet. Dnb.com and you can get
your free dnb number for your business for free, okay? This is absolutely free.
You go ahead and apply. There's a quick process where they're
going to mail you a code. You have to go back in there put the code in
and then you're all set up. That is it, okay? So, now you have a profile with Dun
and Bradstreet. I'm going to tell you a couple of things that you buy to get
some trade lines and you are off to the races. Okay, the
next thing so that you can again, get this business credit with no
personal guarantee. There's 3 different accounts that you can go ahead
and purchase things from these companies and they will report to the business
credit bureau. One of those companies is Uline
U-L-I-N-E. Another company is Quill, q-u-i-l-l. And another company is Grainger,
g-r-a-i-n-g-e-r. You have to purchase at least something
for $50. But in many cases, you don't even have to buy it. They will
give you an invoice, okay? They will invoice you
and you don't have to pay the invoice for 30 or 60 days
and this is them loaning you money but you get those products immediately. So,
those are your first ways to get some accounts. But
before you do that, I want to encourage everyone
to get a business checking account, okay? This is like a new super secret thing
that people do not know. So many businesses
forget to get a business checking account. And I'm going to tell you there is
so much opportunity right now. Many of the banks are flooded,
okay? And I mean literally flooded with more money than
they have allocated and given out and loaned to businesses. They have a lot
of money that they need to lend to businesses.
Women-owned businesses, minority-owned businesses,
veteran-owned business, disabled-owned businesses. There's tons of different
categories where they've set this money aside.
And it is some of the most untapped money out there right now. They've
literally i read an article where literally there was over 100
billion dollars of stimulus money, money for businesses
that has just not been used. So, when you go to get your business
checking account, in many cases, they will offer you a business credit card
right there. Remember, they already checked your credit for the business
checking account. So, it's not like another inquiry, okay?
And again, this is in your business's name. So, when you start swiping that card,
your personal credit score is not just going to start going down.
And this was unheard of 5 years ago, okay?
Literally when I started my business, if you went and got a business checking
account, they would never in a million years long given a startup
any business credit card. They just did not do it.
You could only get the secured credit cards. Now, you can even get unsecured
credit cards right when you do it. So, another thing
that you want to do again, with establishing business credit without a
personal guarantee is those secured credit cards. So, yes, you
got the business checking account if they offer you the unsecured credit card
in your business's name, take it. But either way, keep building. Do
the Uline, do the Grainger. Do the Quill because those are vendor accounts and
you want those trade lines to report. Okay? The next thing that you want to do
is apply for some secured business credit cards. And there's tons
of them out there. I'll put a few links below. Actually have a whole link.
I'll give you a pdf with some companies that are doing it right now and you can
just click the link below and you can grab
that tool for you. That's a quick little blueprint that I'll give you that just
has some lenders right now that I know will lend to you without a personal
guarantee if you follow these few steps that I've said.
This is super easy to get going. Once you have those secure
credit lines and you have some of those credit cards, they will immediately
start to offer you probably after about 6 months, they will start to offer you
more and more credit. And you can leverage one credit card to get other
credit cards, okay? Because once you show lenders that you
have business credit already, other lenders will give you more
business credit cards and it will just grow
and grow and grow without you even having to touch your personal credit
or without them ever checking your credit again.
And last but not least, there's 2 more things that i want to tell you that you
can do, of course is a business line of credit.
So, once you have business credit cards they will usually offer you a business
line of credit after 6 months or a year.
If you've paid your your credit card payments on time. Make sure you pay them
on time. Paying your bills on time especially in
your business's name can exponentially increase how much money
they will lend you. Literally you can call those staying credit cards, lines of
credits every 6 months and get those balances
increased. So, long as you've been paying on time,
in many cases they will do it. They want to fund your business and keep your
business growing. And they are not really as concerned as
to if your limit is close to your balance. So, that's
an amazing thing and this is how you unlock hundreds of
thousands of dollars in a matter of months. So, let me give you... Because I
promised you this. And I'm a big person of keeping my promise.
Super secret thing that exists right now that was not out there before
is get yourself a Square business account and get yourself a Paypal
business account. Both of those companies are offering
working capital to startups. Okay? I literally have students that did
this and in 30 days had $10,000, okay? So, you could do it
either with Square or Paypal or 3 months of your business
checking account. You have 3 months of bank statements. I have a
ton of lenders that will lend you at least $10,000
with just those statements. So, please go ahead to noellesfreetraining.com. I have a
free training a full course with a little bit too long to put up here.
But it's a full training absolutely for free on the exact
formula for investing in real estate without losing money,
how to find deals for free. How to do this and really change
your life and your status. Again, absolutely free
at noellesfreetraining.com. This is Noelle. To your success.