BUILDING BUSINESS CREDIT - Posted by Derwin

Posted by ACohen on March 06, 2006 at 20:20:25:

I’ve looked into the matter, it seems to be that you can build a certain level of business credit but it can only be used to a limited degree.
There are not many banks that would loan you money without checking your personal credit.
If you could possibly build 100k+ or even less of commercial credit, and you could really find a bank that wouldn’t check your personal credit, I can see that you could use that money to buy, fix and flip small properties. Keep in mind though, this would be on a limited scale.
Abraham



rei website

BUILDING BUSINESS CREDIT - Posted by Derwin

Posted by Derwin on March 05, 2006 at 13:52:26:

I am curious to know if anyone has any experience with establishing business lines of credit for financing real estate deals? I have found on company that says that they will assist in structuing these lines without the need for a personal guarantee. Looking for thoughts and suggestions.

Re: BUILDING BUSINESS CREDIT - Posted by Shambhu Nath

Posted by Shambhu Nath on March 10, 2006 at 23:47:34:

This is how I did it. It takes some time what can be done.

  1. Have a business name and business phone and get some tradelines by buying things on terms and paying it off in time.

  2. Go to Wellsfargo and open checking account. Ask wellsfargo to tie a line with your checking account.

  3. See if Wellsfargo( or other sBA lenders) can give you small business line of credit. One friend of mine has it at 50 K.
    4 Get a D& B hnumber. Pay D&B to establish a file for you and they will need five tradelines.

  4. Apply for small cards like office depot, staple and dell. home depot and so on for the business.

  5. See what score you got fom D&B

  6. Get somecash flow for business.
    Ask your bank to increase yourline of credit
    Apply for other credit cards and so on it is a on going process.

Shambhu Nath
www.esunstar.com

Re: BUILDING BUSINESS CREDIT - Posted by khadijah

Posted by khadijah on March 06, 2006 at 21:09:16:

what is the name of the company that you have found? there is a man named thomas kish who has a system that he swears works, do a search and i am sure you can find his website…