Whether you are considering incorporating a business or forming a Nevada corporation or Nevada LLC, or even if you already have a Nevada corporation, one thing is certain; sooner or later you will need to borrow money. Whether you need to get started, or to develop or expand your business, getting a business loan is not easy – you need to understand the process and what it takes to qualify – the secret is in planning ahead.

Where do you start?
Most small businesses tend to be financed initially by personal savings/assets of the owner – but that becomes difficult to sustain once a certain rate of growth is reached. One advantage of a Nevada corporation is that additional resource is often readily available through the introduction of new shareholders. However, this is a shorter term solution and not everyone is prepared to share control of their enterprise with others.

That's when people find out what a complex issue obtaining a business loan is – far more complicated than personal credit! Financing is a critical part of a small business and almost always a large concern for the owners, yet few know how to set about finding credit or investment solutions to fund their business growth.

Nevada Corporate Headquarters can help you to build a business credit profile and understand the business loan process. This preparation will improve your chances of being approved significantly.

Our first step is to analyze where you are now – that's exactly what a potential lender will be doing. The Business Credit Analysis identifies where you are today and where to begin with building a business credit profile that will make your application more likely to succeed.

• Are you looking for a business line of credit for working capital or growth, or do you need to lease premises or equipment?
• Do you have 2 years of financials prior to setting up your Nevada corporation or Nevada LLC?
• Can you provide the following requirements for your loan application; business summary, personal profile, loan proposal, business plan, loan repayment plan, supporting documentation?
• Are you equipped to identify the many scams in today's market place that make unrealistic promises about business credit?
• Did you know there is a law that protects you – ECOA factors unrelated to creditworthiness?

• The Importance of Building Business Credit
• What is Business Credit?
• Your Business Credit Profile
• Separate Yourself From Your Business
• Business Credit Agencies
• Business Credit Scores
• Business Credit Reports
• Finding the Best Business Loan or Lease

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The security of having business credit is important for any organization. With Nevada Corporate Headquarters services, you will be able to have the security you need for your business and its assets. The following are some of the benefits of building good business credit:

• Meet any lending needs
• Extend your cash flow
• Lower your interest rates
• Save valuable time and money
• Improve the credibility of your business

Call Nevada Corporate Headquarters, Inc., today at 1-800-508-1729 to learn more about how we can help you build your business credit!

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For those of you who do not know exactly what business credit is and why it is important, you are not alone. There are many business owners who share this feeling of uncertainty. Nevada Corporate Headquarters, Inc., can provide you with what you need to know so that you feel prepared and confident about your business operations. The following are some of the valuable things you will discover about business credit:

• Your rights as a business owner regarding information on your credit reports.
• Who the largest business credit bureaus are.
• The criteria business lenders use.
• Where business credit scores come from and what they mean to your business.
• Which companies grant credit and how to get them to do it for your business.
• Which companies report to business credit bureaus.
• Which credit cards companies do not require personal guarantees.

Call Nevada Corporate Headquarters, Inc., today at 1-800-508-1729 to learn more about how we can help you build your business credit!

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Learn how to limit the use of your personal guarantee and build business credit (regardless of your personal credit history) just by building a business credit profile. Building a business credit profile allows you to:

• Limit your personal liability
• Protect your personal assets from any business losses
• Eliminate the need for using personal credit
• Purchase vehicles without using personal guarantees
• Access more cash for the business
• Purchase items for business with convenience
• Prepare your business for future lending needs

One of the biggest advantages of having a good business credit profile is saving money. By obtaining a more favorable credit score, you will lower the interest you pay on loans and leases. For example:

Call Nevada Corporate Headquarters, Inc., today at 1-800-508-1729 to learn more about how we can help you build your business credit!

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Through incorporation, you can separate yourself from your business and protect your personal assets from any business liabilities. While it is possible to build a business credit profile for a sole proprietorship or partnership, you and your family are still personally responsible for all the debts your business may incur. Nevada Corporate Headquarters, Inc., recommends building your business credit as a Nevada corporation or Nevada limited liability company. When you incorporate, you benefit from:

• Protection of your personal assets
• The ability to raise capital and build credit faster
• Lower tax liabilities
• Limited liability of owners and officers
• 100 percent tax-deductible insurance
• 100 percent medical expense reimbursement
• Stock ownership - which makes it easier to transfer assets
• Greater credibility through a corporate image
• Lowered audit risk

Call Nevada Corporate Headquarters today at 1-800-508-1729 to learn more about how we can help you separate your personal assets from your business!

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There are two business credit reporting agencies in the United States that lenders and financial institutions rely on for information to grant credit. The two credit agencies are D&B and Experian.

• More than 70 million businesses are registered with D&B.
• The credit profile created by D&B uses information provided by the business owners and vendors of the business. D&B grants a PAYDEX score to businesses based on payment experiences of the business.
• D&B issues a DUNS rating based on the financial statements of the business.
• D&B has a 'High-Risk' status for companies that will destroy a company's ability to obtain credit.

• More than 14 million businesses are registered with Experian.
• The credit profile created by Experian uses information provided by vendors only.
• Experian grants an Intelliscore based on payment experiences.
• Experian is one of the three largest personal credit bureaus.

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The business credit scores with D&B and Experian are what the financial institutions look for in order to determine credit:

• Score ranges from 0 to 100
• 75+ score is good
• Based on payment experiences reported by vendors
• Need 5 trade references who report to D&B

• Score ranges from 0 to 100
• 75+ score is good
• Based on payment experiences reported by vendors
• Need 2 trade references who report to Experian

• Various rating schedules
• Based on employee size and financial statements
• Also takes payment history into account
• Based on payment experiences reported by vendors
  

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The following criteria are used by lenders when determining credit approval, limits and interest rates:

• On-time bill payment history (payment experiences)
• D&B DUNS rating
• D&B PAYDEX score
• Public records information
• Years in business
• Business tax returns
• Type of business
• Number of employees
• Location of business
• Business plan
• Trade references
• Banking references
• Accounts receivable aging reports
• Owner/officer credit score (can be overlooked depending on which lender is being used)
• Loan package - A formal presentation of everything above to present to the lender

The credit reports lenders look at vary from lender to lender. The reports listed below are the most common reports used to determine credit. The scores shown are only a guide and are not set in stone. Every lender varies their requirements based on the amount of funding they have available at any given time.

• D&B PAYDEX Score - Scale of 0-100 - should be 75+ to be in the low to medium risk of default
• D&B DUNS Rating - Varies based on financial statements and size (an ER, 1R or 2R rating only indicates employee size and does not indicate financial rating)
• Payment experiences for business
• Public information records

• Experian Intelliscore - Scale of 0-100 - a score of 75+ will put your business in a low to medium risk of default
• Experian FICO - FICO scores range from 300 to 850. You want a score of 630+ to better your chances of approval.

• All of the above are personal credit reporting agencies
• All issue a FICO or Beacon score

Nevada Corporate Headquarters can provide you with a complete profile of all your credit scores, including a composite score analyzing several criteria that a lender will look at, and can also help you build and improve your credit scores. Call today at 1-800-508-1729 to learn more about how we can help you with business credit!

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It can be extremely difficult to find someone willing to give your business a loan or lease without the proper credit profile. Before looking for financing, make sure you're prepared to present the offer to a lender. Learn what it takes to obtain the loan or lease your business deserves. Our Nevada Corporate Headquarters experts advise that you take the following steps:

• Have a favorable PAYDEX score with D&B.
• Have a favorable Intelliscore with Experian.
• Have a favorable personal credit score (FICO).
• Have a minimum of three trade references.
• Have a good bank reference.
• Do the research on what type of loan or lease you want.

• Find someone with good credit to sign for the loan or lease.
• Determine what business entity you will have when you apply.
• Determine why you need the money.
• Determine how much you need.
• Determine how you will pay it back.

• Prepare a business plan.
• Prepare a marketing plan.
• Have two years' financial statements and tax returns prepared.

Almost any lender will want to see these three things before looking at an application, and they will be crucial to obtaining the loan or lease you want.

• Lenders want the loan request presented in a specific manner.
• Use a professional loan packager, especially with a SBA Loan request.
• The packager will provide the lender with what they want to see and increase your chances of approval.
• The packager will also save you time and money.

Call Nevada Corporate Headquarters today at 1-800-508-1729 to learn more about how we can help you with packaging and loan.

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