Page 112 - Winning The Credit Game Bundle (CK Patrick)

that will make this an option for you and to give you a chance to
learn exactly how to turn credit into profit within your chosen
business model as you learn to use safer and more modest credit
lines along the way.

OUR 5-STEP BUSINESS CREDIT BUILDING SYSTEM

In this book, we will progress through the following steps:

1. Building your foundation by filing the appropriate
legal documents to establish your business as a legal
entity with finances separate from your own and
which is eligible for its own credit rating.
2. Optimizing your business’s financial profile to
demonstrate to lenders that your business and its
owner are reliable borrowers who will yield profit in
the form of interest payments for anyone who lends to
them.
3. Create and optimize profiles with the business credit
reporting agencies, whose reports are used by lenders
to decide whether to lend to a business.
4. Start vendor credit. This is a basic type of business
credit that is often available with favorable terms
relative to all-purpose credit lines. This will begin
establishing your business’s credit history as a reliable
borrower with favorable payment terms.
5. Start revolving credit lines. This is another type of
specialized business credit line that is broader in
applicability and sometimes more challenging to
manage. This makes it an excellent demonstration for
future lenders that your business can handle multiple
types of credit lines reliably.
6. If desired, at this stage you can also begin building
cash credit by taking out more all-purpose business
credit lines such as business credit cards. These can be
useful to your business, but can also be more

100