Important Information You Need to Know

to Get Your Business Loan Approved

Just putting your plan on paper before you open your doors for commerce is simply not enough. There are lots of other things to consider as an entrepreneur. I think most people would agree with me that opening a company is not an easy task. The tasks to consider are not only detail oriented but also could be difficult to prioritize.

However monotonus and insignificant some may seem could be the reason why most lenders decline your loan application for a company loan if you ignore them. Did you know according to a study done by the U.S. government small companies indicates that out of 15.7 million loan applications only 3% were approved.

I?m here to tell you if you?re thinking about opening or already have a company, then building your business credit should be a major priority. If you find it too difficult or time intense to achieve this task, then you should seriously consider hiring a good company epert to help guide you step-by-step on how to build your company credit.

One of the biggest mistakes most company owners make is not being able to structure their company properly to acquire a credit rating. Act now! Don?t wait until you need financing. In this article, I?m going to give you some tips of what you need to consider and point out some major pit-falls to avoid when building your business credit.

Why is it important to establish excellent business credit?

I can think of many valid reasons why you should establish your company credit. First of all, you want to do everything you can to separate your company credit from your personal credit. You may want capital for expenses or perhaps vendor credits for equipment and supplies; or credit cards for monthly miscellaneous expenses; maybe you?re just tired of personally guaranteeing every loan you apply for.

As a reminder, your ability to borrow money does not necessarily mean you have to burden your company with debts. The idea is to have the ability to grow, make sound decisions to give you the upper hand to stay ahead of the rivalry.

Not having company credit is exactly the same as not being able to get financing. Your company credit history begins on the day you establish it. This rule is constant even if you?ve been in business for many years. No matter how successful your company maybe, company credit does not happen automatically.

When you go to the investor and apply for a loan the investor places your company on a scale and rates it on several different areas. This rating covers everything within your company. There is no omission. The investor will decline your application if you?re missing just 1 item in your rating.

How do you know what your company is being rated on? If you send us your information we will send you a free Ebook that discusses the rating procedures.? 2008 Copyright Richpie2. All rights reserved worldwide.

- Pierre Hippolyte, The Business Solutions Guy, has consulted and helped thousands of people and their companies throughout the U.S. successfully establish company credit and obtain company loans. He has a very large folder of over 80 banks and lenders to choose from depending on what type of company and for what size loan. He knows each banks requirements and who to personally speak with to gain action. Contact him at mailto:comloans1@gmail.com or visit the Home and Family Corner blog at