Credit Secrets for Entrepreneurs

36mBeginner2020-11-09

Authors

WealthFit

An e-learning company focused on financial education

Course details

If you have strong credit, then you can borrow money to start or grow the business of your dreams. But getting lenders to trust you isn’t always easy. This course details what you need to know to build your business’s credit score (and reputation) so you can start leveraging serious credit. Get step-by-step instructions on how to find and access your company’s credit report; take steps to boost your score; gain access to the funding you need; navigate special credit issues, such as a lack of data for determining if your business has proper credit reporting; and more.

Skills covered

Small Business FinanceEntrepreneurshipSmall Business and EntrepreneurshipFinance and AccountingOne-Off

Concepts

0. Introduction

01 - Excel by using credit to your advantage
02 - Build business credit

1. Why Business Credit Is Important

03 - Credit reports
04 - Credit for financing
05 - Separating business and personal credit

2. Business Credit Reports

06 - Credit bureaus
07 - Data can be used to evaluate your business
08 - Overview of business and personal credit differences
09 - No creditors are named
10 - No credit limits reported and payment history differs
11 - Free credit reports are not required
12 - Good credit score
13 - FICO SBSS score
14 - Business credit scores differ
15 - Monitor your business credit score

3. Building Business Credit

16 - Create a business entity
17 - Industry classification
18 - Separate business and personal finances and request a DUNS number
19 - Establish references that report
20 - Consider a business credit card and pay on time
21 - Excel by building the strongest credit you can
22 - Monitor your credit

4. Credit Challenges

23 - Lack of data
24 - Bankruptcy, tax liens, or judgments
25 - Negative info report

5. How to Get Business Credit to Work for You

26 - Leveraging other people's money to excel and grow your business