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Financing Your Business

2010 | Jun 30 in Podcast , Home Page News , Money

By Karin Iwata, E-Myth Expert

podcastDid you know that your chances of obtaining business financing can increase by more than 250% if you have good business credit? The problem for many business owners is that they think that just because they're in business, they're automatically building the good business history required to get credit. Not necessarily so.

This week we invited E-Myth business partner Trent Lee to join us for a discussion about financing your business. Lee's company, Corporate Credit Concepts, specializes in helping business owners and entrepreneurs smartly obtain lines of cash credit to launch, operate and grow their businesses.

Unlike personal credit that typically builds as we go about our normal lives—paying our credit card and other bills on time—business credit doesn't happen on its own. You may be in business, but that's no guarantee that you have a business credit history. Bottom line: you have to take an active role in establishing your business credit. The benefits are numerous: having a solid business credit history helps you obtain short and long-term financing and can help you turn your business into a valuable (and transferable) asset.

Podcast: Financing Your Business

(Download MP3)

The System for Building Business Credit

If you need help incorporating or building good business credit, click here for a complimentary business credit consultation and to obtain our free e-Book, "Unlimited Business Financing—Without a Personal Guarantee”—a step-by-step process for building a business credit asset.

Comments

  1. .lynda h. says:

    This was worthless for real info to help a business other than to hire him. Make sure these have REAL info not just a promo. What are the criteria, what should a business be doing other than to have up-to-date P&L's, Bal Sheets and CF statements? I'm not convinced there is anything to his pitch.

    Submitted Jul 13, 2010 7:54 AM

  2. .George H. says:

    That's the whole point Lynda...They are selling their service. If it were so easy you nor I would be here seeking the information. Open your pocket book and learn how..... really

    Submitted Sep 13, 2010 3:23 PM

  3. .Sherianne W. says:

    This is not for Canadians.  They were unable to assist me and had numerous phones calls not returned and a guarantee that they help Canadians, only to find out months later that they do not......based on that alone, i would not invest with CCC.

    Submitted Mar 27, 2011 12:12 PM

  4. .Edward O. says:

    Did you know that most importantly, you should be working toward having awesome personal credit? One cannot secure a business loan in this day and age without having a near spotless credit history! So if you're a young entrepreneur, you had best get your priorities straightened and work toward <a rel='follow' href="http://www.creditrepair.org/">credit repair</a> if you've had any problems in the past. Once you secure a line of credit, guard it like a child because it can have a drastic impact on your ability to expand your business in the future!

    Submitted Jun 22, 2011 3:41 PM

  5. .Edward O. says:

    Did you know that most importantly, you should be working toward having awesome personal credit? One cannot secure a business loan in this day and age without having a near spotless credit history! So if you're a young entrepreneur, you had best get your priorities straightened and work toward credit repair if you've had any problems in the past. Once you secure a line of credit, guard it like a child because it can have a drastic impact on your ability to expand your business in the future!

    Submitted Jun 22, 2011 3:45 PM

  6. .DARREN Y. says:

    Just signed up. Been reading Emyth books for years. Finally started my own small business. I had a hard time finding out info regarding business specific credit ( instead of personal ) I'm going to put my faith in Emyth and follow the steps.

    Submitted Dec 18, 2011 9:26 AM

  7. .Justin D. says:

    Hi Darren,

    thank you for your comment. Congratulations on starting your own business and I am glad to hear that you have signed up with us. In regards to your search for business specific credit, perhaps you can find some information here:

    http://www.e-myth.com/pub/htdocs/credit_builder

    Thank you!

    Submitted Dec 19, 2011 8:47 AM


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