Last month I covered the subtle, important differences between business credit and personal credit. This month, I’ve covered topics ranging from how to generate profitable opportunities as a lending broker, to why becoming a loan broker is the most profitable business to build right now! Many of our inquiring students want to know how to get business credit without using personal credit. The answer to this is fairly simple, but because of how lacking modern academia has become, it is absurdly foreign to people.
To get good business credit, the business must become more than a separate entity from you, it must become profitable and reputable. A mom & pop hardware store is not going to command the same respect as Best Buy, it just isn’t.
Because of how businesses are evaluated, even the most innovative ideas and superlative markets don’t guarantee good business credit. Credibility is not calculated the same way as personal credit. Because of this, many people often use their own personal credit to substantiate business related loans. (Cause a person has often been around longer than their business)
But what if a business isn’t profitable and isn’t really reputable?
How To Get Business Credit Without using Personal Credit
Because of how lending companies & credit companies operate, they can be quite flexible. A newer business has many opportunities to use Credit Cards, Merchant Cash Advance, and even peer-to-peer lending options. There are also lending options for startups that are lesser-known, making them prime candidates as lenders.
But how do we find these companies? Well, sometimes they will contact us, but in most cases we reach out first, or have someone do it for us. (As is the case when using a lending broker who communicates as the middleman)
Having connections as a business isn’t complicated, but it is surprisingly underrated today. Many business owners and controllers have never heard about how to build their business credit score, or how to acquire funding with a poor score.
Many businesses that have potential to succeed fail because they don’t know about business credit. (Besides determining market demand, having startup funding is the second most important issue that new businesses struggle to tackle)
So how do startup businesses get the connections they need? Well, they don’t!
It’s About Who You Know
Several financial experts like Robert Kiyosaki and T. Harv Eker are big advocates that when industries change, we must too. They aren’t talking about compromising your beliefs, they are talking about growing. Growing beyond the limitations of the “industrial age”, and embracing the “information age.”
Gone are the days when you had to adopt a trade or finish college to have any hope in the world. Today, it isn’t about what you know, it’s about “who you know.”
An apt example would be from one of our students Brent who collaborated with another broker to quickly make profits on deals through creative solutions:
This concept is especially relevant in the lending industry. Moreover, a company who already has the appropriate lending options in place is almost guaranteed to last longer than unsupported companies.
Besides a lack of market demand being the primary reason businesses fail, the second biggest problem is a lack of capital. This means after market research is completed a business must take measures to ensure that they have sufficient funds for longevity.
It isn’t uncommon for a company to secure financing even before the first sale is made. However, a startup business cannot qualify for the same kinds of loans that an established business can. That’s why a broker becomes highly valuable.
A Loan Broker Can Get A Business Financing Without Relying On Personal Credit
Did you know that there are companies and lenders who specialize in providing loans to new businesses? Do you know which ones do? No, most people don’t. Separating one’s personal credit from their business credit is already difficult enough when applying for a loan, but now you have to find the right lenders!
A broker already has this information prepared. Here are a few ways that a loan broker can get you financing successfully:
- A loan broker can determine whether a business is officially a startup or not.
- A broker can make loan approval much faster. This is because they will already have contacts. (65% of companies need money to expand their operations)
- The loan broker knows which lending options are suitable for specific financial needs. (E.g. Refinance, equipment, expenses, etc)
- The broker can make sure that the loan doesn’t involve your personal credit.
- $17.5 billion was borrowed outside of traditional loans in 2017. A clear indicator that alternative lending methods are becoming more favorable.
Business Lending Blueprint Teaches How To Cash-In On This Industry
Maybe this is your first time learning about how to get business credit without using personal credit? For those who don’t already know me, my name is Oz. I am the founder of the “Blueprint.” (You can read my story here)
We do more than educate businesses about how to better their credit score or to help with technical financial loans. We teach people how to become a business loan broker! Quitting your 9-5, creating the lifestyle that you truly want, and creating a recession-proof business.
I have presented my business systems, methods, and methodology on numerous public publications. Interviews, podcasts, business events, online training platforms, and more. Today thousands of people have gone through my trainings. We have whole pages dedicated the sheer number of testimonials from our students!
People of all experience levels have successfully built a loan brokering business through my program.
The US economy has never been more speculative. The news around the world and domestically has left people unsure of their futures. Will there be a job to return to when the economy experiences another recession?
(Millions lost their jobs or couldn’t get work in 2020 after a worldwide recession occurred that year)
While that was going on, many turned to loan brokering and found that they were able to support themselves, their families, and even thrive!
Now is the time to start your journey to greater financial security and wealth.
Watch my free training video below and learn everything you need to learn about this business model!