building business credit
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TRANSCRIPT
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Building Business Credit
Presented by
LAUGHLIN ASSOCIATES, INC.
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Business Credit
QUIZWhat is the number one reason why
businesses fail today?
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One of the keys to a successful business today is utilizing and understanding business credit.
Your business should be a fortress of protection.
Business Credit
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Business Credit
YOU YOUR BUSINESS BUSINESS RISK
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What is business credit?
Business credit is learning how to use other peoples money to operate and fund your business without you risking your personal assets and life savings.
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Business CreditBusiness credit is similar to personal
credit in that both have a separate
credit profile.
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Business CreditPersonal Credit Scores are tracked by SSN
Business Credit Scores are done by EIN
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Business Credit
Personal Credit Scores are from 0 to 900
Business Credit Scores are from 0 to 100
In both instances your score determines your ability to get credit, lower interest
rates, and your credibility with the business world.
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Business Credit
Big Advantage of Having Good Business Credit?
LOWER INTEREST RATES
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Business Credit
Average Credit Loan Amount - $50,000 Length of Loan - 10
years Interest Rate 11% Payment - $660.75 Total Paid - $79,290.00
Good Credit Loan Amount - $50,000 Length of Loan - 10
years Interest Rate 8% Payment - $606.64 Total Paid - $72,796.80
TOTAL SAVINGS $6,493
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Business Credit
Average Credit Loan Amount -
$1,000,000 Length of Loan - 15
years Interest Rate - 10% Payment - $10,746.05 Total Paid -
$1,934,289.00
Good Credit Loan Amount -
$1,000,000 Length of Loan - 15
years Interest Rate - 8% Payment - $9,556.52 Total Paid -
$1,720,173.60
TOTAL SAVINGS $214,115
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Business Credit
Line of Credit - Unsecured Lease Back Financing
Leasing - Auto/Equipment Asset Based Financing Visa/MasterCard/Amex
Real Estate Loans Commercial Properties
Business Acquisition Equipment Purchase
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HOW DOES OUR BUSINESS CREDIT PROGRAM WORK?
TEACH YOU THE CREDIT SYSTEM CREATE A PORTRAIT OF YOUR BUSINESS USE THE RIGHT VENDORS EXPAND YOUR CREDIT POWERS
Business Credit
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Business CreditHOW DO YOU GET GOOD BUSINESS CREDIT?
YOU NEED TO UNDERSTAND THE SYSTEM
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RECOGNIZE THAT THERE ARE SEVERAL BUSINESS CREDIT AGENCIES THAT KEEP
YOUR BUSINESS SCORE
BUSINESS CREDIT USA
EQUIFAX
EXPERIAN
D & B
Business Credit
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Business Credit
THE PROBLEM WITH BUSINESS CREDIT AGENCIES IS THAT THEY ARE NOT
REGULATED LIKE PERSONAL CREDIT AGENCIES
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Business Credit
THE INITIAL SNAP SHOT OR PROFILE OF YOUR BUSINESS IS ESSENTIAL TO
GETTING EXCELLENT BUSINESS CREDIT
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Business CreditVENDORS
YOU NEED TO WORK WITH VENDORS THAT WILL REPORT TO ALL THE AGENCIES ABOUT YOUR
PAYMENT HISTORY
GAS CARD COMPANIES, OFFICE SUPPLY, ETC. OVER 3000 TO CHOSE FROM
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EXPANDING YOUR CREDIT
THROUGH THE USE OF YOUR CORPORATE COACH YOU WILL
CREATE A BUSINESS PLAN AND A FINANCIAL STATEMENT WITH PROFIT
AND LOSS.
Business Credit
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Business Credit
HOW DOES THE PROGRAM WORK?
YOU’RE ASSIGNED A PERSONAL COACH WE TEACH YOU THE CREDIT SYSTEM CREATE A PORTRAIT OF YOUR BUSINESS WE HELP YOU USE THE RIGHT VENDORS EXPAND YOUR CREDIT POWERS
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Business Credit
Computer Line of Credit - $25,000 Equipment Lease - $15,000
Hardware Store Credit Line - $15,000 Electronics Store Credit Card - $7,500 Department Store Credit Card - $5,000 Printing Company Credit Line - $2,000
Office Supply Credit Card - $1,000 Corporate Gas Card - $1,000
Auto Lease and Loans – Cadillac, Ford, BMW, Mercedes, Hummer, GM Trucks and more