Business credit with no personal guarantee. If you are a business person or entrepreneur you have probably been rejected when you applied for business credit. Or you were probably asked to put your house up for collateral, or asked to personally guarantee your business loans. We can show you how to get business credit with no personal guarantee.

1. File for incorporation. This is important. If your business is not set up as a corporation you should file for incorporation right away. At Access My Capital we can help you file the incorporation paperwork in the state of your choice. If your business is already incorporated, you should make sure your corporate records are current and in order. Also be sure your corporation is in good standing with your bank and with the appropriate government agencies.

2. Do a complete Credit Bureau Check. This is also very important because your credit bureau records will have a direct impact on your ability to get credit. AccessMyCapital.com can help you check to see if there are any adverse reports in your record. If some show up, they can get them resolved by following the necessary steps.

3. Register with Credit Bureaus. After you have made sure all your records are in order, your corporation is in good standing, and your credit report has no bad marks against it, you should register with a number of credit bureaus or credit reporting agencies. This will help to establish your business credit profile.

4. Apply for and Obtain Business Credit. Once your business profile has been established for a few months it is time to apply for a business line of credit and retail credit cards for your business. This does not involve using your personal credit report. AccessMyCapital.com can make sure that your creditors do not pull your personal file either.

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For more information on how Shelf Corporations
can benefit your business see:
Shelf Corporations at AccessMyCapital.com
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In the eyes of the lender, it reduces the risk involved should they decide to issue you credit. Since at least 50% of all new businesses fail in the first year, the fact that you are a couple of years old significantly reduces the liability in their eyes. This could mean the difference between you getting the corporate credit you need or it being denied. It can also affect your credit limit and the amount of interest that you will pay on it.

Consumers also find you to be more appealing when you have some longevity behind you. Consumers are becoming more interested in finding out how long a business has been in place before they make a purchase from it. If they see you have just started out they may buy what they want from someone else. However, if the purchase of a shelf corporation makes it appear older than they will assume your business has been doing well.

Other businesses will feel this way as well so a shelf corporation can help you secure a very profitable deal with them. They want to make sure the items they purchase or the services they need will be fulfilled. If your business is new, they may feel that you don’t have the skills yet to take care of such a large order or to meet their ongoing needs. They don’t want to be among your first customers and your learning curve.

How honest is it to invest in a shelf corporation? Aren’t you misleading lenders, consumers, and other businesses when you use this to promote your new business? There are plenty of ethical concerns with shelf corporations that individuals struggle with. While they are legal, many people aren’t sure that they are ethical and they want no part of the process. You will also find those that say a shelf corporation is just another strategy for the benefit of your business.

There are plenty of factors you need to consider if you heading down the road towards a shelf corporation. Make sure it has a clean record with consumers as you don’t want to be connected with complaints that have been filed against a business name. If it is a legitimate shelf corporation that has never been used this shouldn’t be an issue, but make sure you look at it as well.

Take a good look at the prices of shelf corporations. Don’t bother with it if you are going to have to invest capital that you have set aside for other purposes including advertising. Some people are under the understanding that a shelf corporation offers significant tax shelters and benefits. This is not the case at all so don’t think you can recoup that money when you file at the end of the year.

Only you can decide if a shelf corporation is going to be right for you or not. Make sure you take the time to consider both sides of the issue. You also need to think about the cost involved. A shelf corporation isn’t always cheap but it can lead to more sales for your business. Your personal opinion about the process is going to influence your decision as well.

Article Source: http://EzineArticles.com/?expert=Robert_Bain

In this blog we offer sound business credit advice and discuss how you can obtain the most reliable and economical business credit available.