Business Credit in the U.S.
December 22, 2009
Business Credit in the U.S.
The USA has a very advanced credit industry that provides vast amounts of data on individuals and businesses alike. As soon as an individual receives their social security number they start to build a credit history. And the same is true for business that once they start to accept or provide trade credit, information is collated on how they perform.
Information is collated by a number of business credit bureaus including Dun & Bradstreet, Experian Business, Equifax Business and Business Credit USA. They receive information from the providers of the credit using the Federal Identification Number allocated by the IRS to every business on startup. As you use more and more credit, you begin to build a picture that other lenders will use as the basis for determining whether to lend to you. So building a good credit profile in the US is, arguably, more important for a businesses in the US if it wishes to access borrowings than in Europe where there tends to be a greater reliance on financial reporting information such as report and accounts.
The data file that is collated by the agencies depends on the voluntary submission by lenders rather than a compulsory system. Therefore, the system is only as good as those that feed it - but the experience has been very good to date since many companies rely on the agency view in assessing risk.
Many small business owners in the US make the mistake of using their personal details to apply for business credit. The reason that this can be a mistake is that it puts at risk their personal rating by increasing significantly the number of checks made on their data. Analyst companies have ranges of expected activity on accounts and for consumers, due to the vast amount of data, these are very accurate. Rapidly increasing the credit checks can signal adverse activity which sends up all sorts of negative warnings.
Therefore, it is important that any business works on developing its own credit history since the purer the information over time, the better the rating and the easier it will be to get credit.
Credit history information is only one input into assessing corporate credit risk. But for trade credit it is usually the biggest single impact. When applying for larger business loans or leases, lenders will also look for detailed financial records and information to support the request. In that respect, the US market is similar to the developed Western European models for assessing credit worthiness.
The recent recession has made access to credit that much harder for all businesses - particularly smaller ones. The immediate future, although looking better now as economies come out of recession, looks to be not a great deal easier in terms of accessing credit. Companies must concentrate on managing their debts and keeping their credit records as clean as possible.
Margins charged for all lending products has increased and fees have become more commonly charged by lenders. US margins have always been higher compared to Europe, but so has the risk of corporate failure. A strong and confident business community is essential if governments are to earn money from tax take on profits.
37 Days To Clean Credit
September 20, 2009
37 Days To Clean Credit
I didn’t believe him at first because I never heard of anyone raising their credit score 135 points in 37 days.
If you’re interested in deleting negatives, raising your credit score, and paying pennies for your debt than you’re going to love this post.
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I URGE YOU TO READ ALL OF THIS
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Why?
Because a young guy from Florida has just blown the lid off the credit reporting industry.
His name is Chris Brisson and he went nuts with repairing his credit. It’s a lot of deletions so bare with me…
- 9 Inquiries
- 5 Major Negative Accounts
- 4 Default Accounts
- 1 Judgment
- Raised his Score 135 Points
… in 37 days!
The best news is that he put together a great free video on exactly how he was able to do it. My recommendation - go check it out now..
Here’s the link:
http://37DaySecretRevealed.com
Here’s just a few of the things Chris is going to share with you:
- How To Raise Your Credit Score 25, 50, 100, or even 135 Points (like I did) in Less Than 37 Days!
- The 5 Biggest Secrets That The “Credit Repair Experts” Don’t Want You To Know About To Cleaning Your Own Credit
- The Most Successful Step-By-Step Blueprint To Repair, Build, and Maintain Great Credit
- How To Boost Your Score 42 Points With One Simple Letter
- 6 Surefire Dispute Techniques That Easily Delete Negative
Items Without Fail
Getting excited… You should be. Go check out the video and learn for yourself…
http://37DaySecretRevealed.com
Cheers,
Dustin
P.S. This is the real deal. A step by step guide to help you repair, rebuild, and maintain your credit. You know how important it is so click the link below to see the video now:
http://37DaySecretRevealed.com
Real Estate Investment Resources with Jeff Nemeth
February 5, 2009
A friend of mine, Jeff Nemeth with Real Estate Investment Resources has been up to some pretty BIG things…some really exciting ‘behind the scenes’ stuff.
Some of you may actually have heard his name; he’s helped me out with my Business Credit Infusion program and has gotten me several speaking engagements.
He also works with a guy named Rick Harper, you may remember my blog post and video last year called ‘Hacking it With Harper’ where Jeff got me in to conduct an impromptu interview with Rick on a Friday afternoon?
Well, Jeff hooked me up with Rick again and we’re about to release a product where I conducted a full length interview. It’s going to be released soon and will be called ‘Secure Your Future with Real Estate Investing’. Keep your eyes open for this; I’ll be letting everyone know about it when it’s released.
As of late, when Jeff isn’t busy getting Rick on NBC or hooking people up with other various venues and selling real estate, he’s been working on a pretty cool website you should check out. http://www.RealEstateInvestmentResources.com
If you’re marketing any sort of Real Estate related product or service, you’re probably on this site. If you’re not on the site you should contact Jeff at Jeff@RealEstateInvestmentResources.com and have him market your offerings.
I know he’s brought me in a bunch of leads for my Business Credit Infusion program along with numerous sales. Don’t keep this resource to yourself, let your friends, associates and your list in on this new site, and share the wealth!
Over and out,
Dustin
It’s Released Today - Business Credit Infusion!
July 22, 2008
FOR IMMEDIATE RELEASE
Tampa, FL - The release of the highly anticipated course, Business Credit Infusion will be released to the public to today, Tuesday, July 22 at 12:00 p.m. (noon) ET.
This 6 week LIVE online webinar course teaches real estate investors, entrepreneurs and business owners how to get money for their business without walking into a bank or showing any financials. To be covered are strategies for getting unsecured lines of business credit without putting up any assets or having a business plan in place.
More details can be found on the site’s homepage: http://www.businesscreditinfusion.com
Business Credit Manifesto Hysteria
July 8, 2008
Yesterday, I was absolutely amazed with the release of the Business Credit Manifesto. I couldn’t believe how many questions and comments we received.
It kind of freaked me out!
I’ve been feverishly working to figure out to get to all of these questions and comments. So for the next week and a half, I’m going to be working my tail off.
So, you won’t be receiving your typical daily email from DustinMathews.com. But if you want to see what all the fuss is about get on over to http://www.businesscreditinfusion.com
Don’t worry though, I’ll be back on Wednesday, July 23rd with some content for your business!
Until then,
Dustin
P.S. I will be posting videos, audios and freebies over at http://www.businesscreditinfusion.com/blog
Business Credit Infusion & The Business Credit Manifesto
July 7, 2008
In celebration of my birthday (yesterday), I am officially launching a brand NEW website dedicated to helping business owners get money for their business. Now, I’m talking real money for entrepreneurs, small business owners or anyone thinking of getting into business.
There’s a whole bunch of money out there for you and you don’t have to beg the bank for it or give your right arm to get it.
At this site you’ll find a cool 13 minute video revealing how I got $93,000 Dollars to grow my business! You’ll also find the head-turning Business Credit Manifesto, which is a 31-page blueprint for getting money fr your own business.
Here’s the best part. You’ll also be able to post your questions about business credit and get them answered! All this completely for FREE.
Are you ready fora business credit infusion?
http://www.BusinessCreditInfusion.com
P.S. This site won’t be up forever, so you better get on over to http://www.BusinessCreditInfusion.com
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