The My Business Credit Podcast: Recent Episodes
Oxford Pierpont
Why should anyone want to give your business money? What proof does your business have that it can pay lenders back? When you have strong business credit, these questions are more easily answered, and you're able to justify getting hundreds of thousands of dollars in financing for your business.
The problem is that 90% of businesses don't understand the basic requirements that lenders have, and this means that they are leaving money on the table. This podcast will help you understand everything there is to know about business credit so that you can access growth financing for your business. Support this podcast: https://anchor.fm/mybusinesscredit/support
Debt can be a tool for building wealth - if it is used correctly. You may be surprised to find that borrowing money can actually help you build wealth, especially if you borrow wisely, and invest in assets that produce income. If you're considering taking on debt but are unsure if it's the right move for you, this article will teach you everything you need to know about using debt to build wealth and why it's sometimes the smartest decision.
Support this podcast: https://anchor.fm/mybusinesscredit/support
Often, when you are trying to get growth financing for your business, you'll be asked for your personal credit score – which needs to be 680 or higher for most qualifications. But what if your score is lower? What can you do to quickly build up your personal credit so that you can grow your business? Adding a credit tradeline to your report might be the short-term solution you need.
Credit tradelines are an unconventional, but relatively common method of building up your personal credit. Whether you already have good credit and want to improve it by adding another tradeline, or you just need a boost before applying for a business loan or other large purchase, credit tradelines can get the job done, and this article will show you how.
Support this podcast: https://anchor.fm/mybusinesscredit/support
A business line of credit, also known as a credit account or revolving credit, is an arrangement in which a company borrows funds on a short-term basis up to the credit limit. The company pays interest only on what it actually borrows and can request more funds if needed. It's often used by companies that need cash to operate but do not require any long-term financing. Learn more about business lines of credits and how you can use them for your business!
And as always, if you need assistance with understanding your financing options, feel free to contact the team at MyBusinessCredit.com, and work with a knowledgeable professional who is ready to help!
Support this podcast: https://anchor.fm/mybusinesscredit/support
Imagine the feeling of being on top of your finances, knowing exactly how much money you have in your account and where it came from. If you're a business owner who wants to take charge of your financial world, using a business bank account to separate personal funds from business funds is an excellent way to do so. In this article, we'll show you how to open one and use it responsibly.
And as always, if you need assistance with understanding your financing options, feel free to contact the team at MyBusinessCredit.com, and work with a knowledgable professional who is ready to help!
Support this podcast: https://anchor.fm/mybusinesscredit/support
A business credit score is a number that is given to your business to represent the likelihood of defaults, payment delays, or bankruptcies. It is calculated based on data from vendors you do business with, public records like liens and judgments, and your company's own financial statements. In this article, we'll cover the most important things you need to know about your business credit score so that you can strengthen it for your business.
And as always, if you need assistance with understanding your financing options, feel free to contact the team at MyBusinessCredit.com, and work with a knowledgable professional who is ready to help!
Support this podcast: https://anchor.fm/mybusinesscredit/support
If your business has a lot of recurring bills or daily purchases, you might want to consider using a credit card instead of traditional debit cards or checks. In many ways, using a business credit card for general and recurring purchases can be safer and easier, but there may also be a few drawbacks when poorly managed. In this post, we will examine the benefits and drawbacks of using a business credit card for daily purchases.
And as always, if you need assistance with understanding your financing options, feel free to contact the team at MyBusinessCredit.com, and work with a knowledgable professional who is ready to help!
Support this podcast: https://anchor.fm/mybusinesscredit/support
A business credit card can be a tempting thing to apply for. They usually come with a higher credit limit, fewer restrictions, and better terms than personal credit cards. But before you throw your hat in the ring and apply for one, there are three things you absolutely need to know. See if this article's advice will help steer you in the right direction!
And as always, if you need assistance with understanding your financing options, feel free to contact the team at MyBusinessCredit.com, and work with a knowledgable professional who is ready to help!
Support this podcast: https://anchor.fm/mybusinesscredit/support
Did you know there are over 100 steps involved in the process of getting a small business loan? The underwriting process is different for each lender, and it can take as little as 2 weeks or up to 3 months. In this article, I will break down for you everything you need to know about the underwriting process so that you have an idea of what to expect from your lender!
And as always, if you need assistance with understanding your financing options, feel free to contact the team at MyBusinessCredit.com, and work with a knowledgable professional who is ready to help!
Support this podcast: https://anchor.fm/mybusinesscredit/support
If you are a business owner or an entrepreneur, you might have found yourself in a situation where the funds necessary to sustain your business are just not there. This is why it is important to know what business growth financing is and the advantages of availing such financing. In this post, we will explore the six different types of business growth financing and their advantages for different entrepreneurs.
And as always, if you need assistance with understanding your financing options, feel free to contact the team at MyBusinessCredit.com, and work with a knowledgable professional who is ready to help!
Support this podcast: https://anchor.fm/mybusinesscredit/support
Why should anyone want to give your business money? What proof does your business have that it can pay lenders back? When you have strong business credit, these questions are more easily answered, and you're able to justify getting hundreds of thousands or even millions of dollars in financing for your business.
The problem is that 90% of business leaders don't understand the basic requirements that lenders have, and this means that they are leaving vast quantities of money on the table that they could otherwise be using to grow their companies. This podcast, presented by MyBusinessCredit.com, will help you understand everything that there is to know about building strong business credit so that you can access growth financing for your business.
And as always, if you need assistance with understanding your financing options, feel free to contact the team at MyBusinessCredit.com, and work with a knowledgable professional who is ready to help!
Thanks for listening, and we hope that you enjoy the show!
Support this podcast: https://anchor.fm/mybusinesscredit/support
Do you find yourself craving more resources, such as an office space or a larger inventory, in order to grow your company? If so, then this post is for you. Here, you’ll learn some of the ways that business loans can help your business grow and thrive!
Why business loans are important. Business loans are important for a number of reasons. They can help you get the funding you need to grow your company, expand your business, or even just stay afloat during tough times. Loans can also help you build your credit score, which can be important for both personal and business purposes.
Why use business loans for growth and expansion? Business loans can be a great way to fund growth and expansion for your company. They can provide the capital you need to purchase new equipment, hire additional staff, or open new locations. Business loans can also help you take advantage of opportunities that may arise unexpectedly.
There are a few things to consider before taking out a business loan, such as whether you will be able to repay the loan and whether the interest rate is reasonable. You should also shop around for the best deal on a business loan, or work with a company like MyBusinessCredit.com, so that the business loan options are presented to you directly.
Ultimately, if you are confident in your ability to repay the loan and you believe that the benefits of taking out a loan outweigh the risks, then a business loan can be a great option for funding your company’s growth.
What are common misconceptions about loans? There are a few common misconceptions about loans that often prevent business owners from considering them as a potential option for growing their company.
The first is that loans are always expensive and difficult to qualify for. While it’s true that some business loans can be costly and difficult to obtain, there are also many types of growth financing options available that can be quite affordable and easy to qualify for. A key benefit to working with a company like MyBusinessCredit.com, is that they will focus on getting you pre-approved for your business before you even apply.
Another common misconception is that taking out a loan will put your business at risk if you can’t make the payments. While it’s true that defaulting on a loan can have serious consequences, there are also many options available for businesses that need help making loan payments. Finally, some business owners believe that they need to have perfect credit in order to qualify for a loan. While good credit is always helpful, there are many types of loans available for business owners with less than perfect credit.
Generally speaking, if your personal credit score is below 650, you may have to provide alternative qualifications such as verifiable cashflow, a history of tradelines in good standing, a positive bank rating, or a business credit score of 80+. If you’re considering taking out a loan to grow your business, don’t let these misconceptions hold you back. There are many options available that can be quite affordable and easy to qualify for. Taking out a loan can be a great way to grow your business, so don’t be afraid to explore all of your options.
Support this podcast: https://anchor.fm/mybusinesscredit/support