Page 158 - Winning The Credit Game Bundle (CK Patrick)

landlords, utility companies, and more without needing a high-
limit credit card you can charge these items to.

CREDITSTRONG

CreditStrong’s business options allow new businesses to take out
an interest-free loan for the sole purpose of repaying said loan on
time to build credit payment history, which is then reported to
credit bureaus. Businesses can borrow $2,500, $5,000, $10,000, or
$25,00 and pay anywhere from $100 or $1,100 per month to build
loan repayment history without having to qualify for a conven-
tional bank loan.
While CreditStrong’s loans are interest-free, they do charge a
one-time “administration fee” to set up. This is how they protect
their investment : since they are open to new businesses with
little credit history , they must assume that some percentage of
their borrowers will not successfully repay their loans, so they
must protect their cash flow somehow.
For this reason, CreditStrong may not be right for businesses
with very tight budgets or those concerned about their ability to
repay a loan. But for businesses seeking to build credit history
quickly and who have high confidence in their ability to repay
the loan amounts in addition to their existing bills, CreditStrong
can be a good option to qualify for a loan payment history
without needing the credit history to qualify for a conventional
loan. Interested parties can view their plan options using the link
in the footnotes.8

NAV BUSINESS CREDIT SCORES & REPORTS

NAV is a little bit like CreditKarma for businesses. It offers credit
monitoring and recommendations for business credit cards,
equipment financing , merchant cash advances , and loans your
business may qualify for.
I want to note that one should exercise caution when using
both Credit Karma and NAV: both sites may be rewarded by

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