Start a Business with Other Peoples Money: Business Credit

Most people do not know this. I am writing just to give you some knowledge that you may not even know existed. Let me pose a question to you. How do you think these huge corporations get money to make purchases? How did they get started? Do you really need money to make money? Do you think the CEO of these companies is using his personal credit to get loans?

Wouldn’t be exciting to get loans and supplies for your business on the business? Most people don’t realize but you can actually build a separate credit profile for your business as opposed to your personal credit. This is great because your business credit rating will not affect your personal credit score. You can also then get a lot of money if your personal credit score is not so great.

There have been several times I was embarking on a new business, but this is the best story demonstrating why you want to do this. I had started one company which qualified almost right away for a business credit card. I got it and pretty much maxed it out leveraging my business as I was getting a good return. I then decided it was time to buy a house so I could get my own office and get out of my little apartment.

I then went over to my back and applied for a mortgage. To my surprise my banker of many years came out and said I didn’t qualify. I couldn’t believe it. I asked how and I found out the secret. This business credit card was not a business credit card it was a personal credit card with business written on it. When I had leveraged my business I had leveraged myself and now I was showing a lot of debt when I considered that to be seperate business debt.

The fact is that you can separate your business and personal credit but it is nearly impossible to find out how. The reason is most banks don’t even know how to do it, especially the people YOU talk to. However, this is how banks really make the money you just have to get to the right people. After many trials and errors I finally found how to build business credit for my business.

If you want to see how I build Business Credit, visit my website and I will tell you in a series of videos exactly what I do.