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Building Business Credit

Date post: 07-Nov-2014
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Building Business Credit Presented by LAUGHLIN ASSOCIATES, INC.
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  • 1. Building Business Credit Presented by LAUGHLIN ASSOCIATES, INC.
  • 2. Business Credit
    • QUIZ
    • What is the number one reason why businesses fail today?
  • 3.
    • 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
  • 4. Business Credit YOU YOUR BUSINESS BUSINESS RISK
  • 5.
    • 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.
  • 6. Business Credit
    • Business credit is similar to personal credit in that both have a separate credit profile.
  • 7. Business Credit
    • Personal Credit Scores are tracked by SSN
    • Business Credit Scores are done by EIN
  • 8. 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.
  • 9. Business Credit
    • Big Advantage of Having Good Business Credit?
    • LOWER INTEREST RATES
  • 10. 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
  • 11. 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
  • 12. 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
  • 13.
    • 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
  • 14. Business Credit
    • HOW DO YOU GET GOOD BUSINESS CREDIT?
    • YOU NEED TO UNDERSTAND THE SYSTEM
  • 15.
    • RECOGNIZE THAT THERE ARE SEVERAL BUSINESS CREDIT AGENCIES THAT KEEP YOUR BUSINESS SCORE
    • BUSINESS CREDIT USA
    • EQUIFAX
    • EXPERIAN
    • D & B
    Business Credit
  • 16. Business Credit
    • THE PROBLEM WITH BUSINESS CREDIT AGENCIES IS THAT THEY ARE NOT REGULATED LIKE PERSONAL CREDIT AGENCIES
  • 17. Business Credit
    • THE INITIAL SNAP SHOT OR PROFILE OF YOUR BUSINESS IS ESSENTIAL TO GETTING EXCELLENT BUSINESS CREDIT
  • 18. Business Credit
    • VENDORS
    • 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
  • 19.
    • 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
  • 20. Business Credit
    • HOW DOES THE PROGRAM WORK?
    • YOURE 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
  • 21. 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

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