Building Business Credit

Biz Credit is Important Too

In the past you’ve heard me speak, and maybe even have received information from me on a variety of business related funding products. You know how challenging it is to get capital in this mercurial economic environment, and I’ve striven to keep you informed with the most up to date info.

I understand that building positive business credit is serious, it takes time and dedication on the part of any business owner. For several years I’ve researched “Building Business Credit”. I’ve interviewed dozens of purveyors of the product. Never have I endorsed one because I didn’t want my sterling reputation tarnished. Over promise……..Under deliver…….was the typical mantra. Charging enormous up front fees and additional “points” on the back end…..They all sing the same tune. Until now……..

The Midas Guide to Credit and Business Funding

Well, after several years of research I’ve finally published my much anticipated E-book.  The Midas Guide to Credit and Business Funding is now available by going to:  www.bizfunding101.com.  And yes I’m pretty excited.  The hard launch was Monday and we’ve sold five books so far.

The book is broken into three sections.  The first section talks about both business and personal credit and dispels all myths about each.  Loaded with nothing but the facts and what you need to have to enjoy perfect personal and business credit.  The second section reveals all loan products available to a small biz owner.  In laymans terms, I describe each and every product so you can make an educated decision as to how and where you fit.  The third section is about something no one has ever written.  You all know I’m a loan broker.  I charge fees! Those fees can sometimes be hard to swallow.  With this guide I am providing the exact model I use to get people funded every day.  I tell you everything you need in your funding package and I give you two hours of personal counseling on picking a product and getting funded.  This sounds mundane but what if you could get the money you need and not have to pay thousands in broker fees?

Why a Paydex Score is Important

Everyone knows what a FICO score is.  If you’re a business owner you better know what a Paydex score is and why it’s important these days.  Paydex is the equivalent of a consumers FICO score.  It measures your businesses credit worthiness and is being looked at more and more by lenders.

Business credit agencies use this business scoring system to determine the credit rating of small businesses.  Dun & Bradstreet and Experian are two of the larger ones.  You can simply sign up at www.dnb.com.  You will be assigned a number and then it’s up to you to build your credit in a similar fashion as you would your FICO score.

Paydex scores range from 0 to 100.  Anything 80 and above is good and where you must be in order to obtain business financing.  Below 80, and just like a FICO score, you can have problems.