Another way to leverage your business credit it to take advantage of opportunities that may be costly up front but will end up saving you money, such as business equipment.  If you can save money on energy efficient equipment, or save money on trash removal because you buy a trash bailer, wouldn’t you take that opportunity.  But the only way you can do this is to use your business credit.  If you don’t have business credit, or even if you do, you should check out the Insiders Guide To Business Credit.  They walk everyone, from the new business owner all the way to the veteran through the steps to get business credit for…

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It really puts you in a predicament with only 2 ways out.  One, you can just continue to keep your business afloat, doing the minimum in areas of advertising and staffing.  Maybe you have to work 6-7 days a week because you cut an employee, maybe you don’t run that ad in the paper because you can’t really afford it.  

Option 2, which is the option smart companies are choosing, is to take advantage of the situation that EVERY business is in, and use it to your advantage.  Because you know that everyone is hurting why not do something different then the competition.  Use your business credit lines and loans from the bank to work on marketing to new customers.  Make the customers you have remember why they chose you in the first place by treating them like they are VIP’s because they really are.  A little goes a long way, especially when everyone else has stopped spending, your few dollar investment in a customer loyalty program, can go even further NOW.  

So how do you get a large credit line or a loan from the bank … with the help of your business credit.  Using guides like the Insiders Guide To Business Credit can help any business hone their business credit file so that they can get a bank loan or large credit card, without the need of using the owners credit file for approval.  Imagine using that business you have built as the leverage in every financial transaction you make.  It can happen if you start today.  

Visit http://InsidersGuideToBusinessCredit.com to find out more and to get a free copy of their small business credit guide.

So now you ask how…how exactly do you get the money to spend now so you can see returns from your customers, both current and future.  You invest in systems that help you create credit for your business.  You visit sites like http://InsidersGuideToBusinessCredit.com .  They can help get you on track so that you can have the money you need to do the marketing you must do.

This is a golden opportunity to get your business to the front of the pack at discount prices

I know from personal experience that when you start a business it can be difficult to keep cash on hand, as startup expenses can be overwhelming, but now even businesses that have been around for over 3 years are starting to worry about cash on hand to pay for tax liabilities, thanks to the slowdown in the economy.

So what are companies doing to survive this financial crisis? Smart businesses are using their business credit. As a business owner it is vital to have access to this credit in the form of credit cards, bank loans, or even a bank line of credit. I know it can be intimidating to think about approaching a bank for a line of credit or even a loan, but once you have the proper credit in place for your business they will do most of the work for you.

Thousands of businesses get started on the path to obtain business credit each day, and they don’t have to worry where the money if going to come from, will this be you?

Big retailers from BestBuy to Walmart are reaching down into their Business Credit to start picking up the slack from lower sales. Is this something you can do? The answer is YES!!!. Anyone with any size business can have access to business credit, the KEY is knowing exactly how to get it. Do you think the CEO of Walmart puts his Social Security Number on the credit application when they need to take out a loan…NO. So why are you doing it?

The reason is because everyone has told you that is the only way to get a line of credit, credit card, or even a bank loan. The truth is that you NEVER have to give that out, I know I have never given out my Social Security Number on ANY business credit application.

I know that is still may sound like a wild claim, I will explain some of the basics you need to get to where you never have to write your Social Security Number on another Business Credit application AGAIN!!!

Right now businesses who are going to be successful are purchasing equipment, materials, and anything else they can get their hands on. They know that there are a TON of bargains out there for people who have money and are willing to spend it.

The successful businesses are opening new lines of credit with stores so they can not only take advantage of better terms, but gain valuable discounts as well. Businesses with the ability to take advantage of this new situation will be the ones that survive to see oil prices rise again.

You see, not only are the successful businesses applying for more credit, they are getting it. While everyone else is sitting around waiting for “Credit to Loosen” they are getting credit line increases, applying for and getting new business loans and more.

All of this is possible because they have business credit and have worked to build a strong credit structure. Be one of them, take the step now, to create opportunity for your business.

The one way out of this is to get your business credit file created.  The group of businesses that are able to weather this storm will all use their credit. Where will you be? On the life raft or in command of the boat?.

You owe it to yourself to make a change that will secure your business and its future.

This year more then ever small businesses are expected to be hit by not only the failing economy but the credit crunch. That is businesses who don’t know the keys to build business credit even in a troubled economy.

Step 1
You as the business owner need to take steps to move your company in a legitimate direction. File the appropriate paperwork with you state to make sure you have a fedeal tax id, also known as an EIN. This will allow you to begin to generating a credit file

Step 2
… More Information

Business credit cards, as you may know, are just like personal credit cards, but issued to your business, not to you. You don’t have personal liability and you don’t have to use your business credit.

Here on some tips:

1. Make sure that the “business” credit card you are considering reports your credit to a business credit agency, such as Experian Business, Equifax Business and Dun & Bradstreet. Cards that report to consumer credit agencies are not business credit cards, and will neither boost your business credit profile nor protect your personal credit profile. You need a real business credit card.

2. Check the rates and shop around. If your business credit is good, regardless of your personal credit, you should be able to get good terms, including a good interest rate and rewards, on a business credit card.

3. Business credit cards usually have very high credit limits in comparison to personal credit cards. You may see credit limits of over $50,000. If the first bank you apply to offers a low credit limit, shop around for a better limit, or ask them how you can get that increased.

4. When you do get a business credit card, make sure that you use it for business purposes ONLY. Do not mix personal and business purchases on your business credit card; this is one reason you have a business credit card.

5. Look for a business credit card that itemizes yours statements to show exactly where your money went. Your accountant will appreciate this when it comes time to itemize your expenses at tax time.

Getting a business credit card is one of the best things you can do to grow and expand your business. Knowing exactly what to look for and how to find a credit card for your business makes the process much easier. Keep in mind that most business credit cards have lower rates and higher credit limits than personal cards, so you should be able to find a good credit card for your business.

If you have difficulty finding a favorable rate and a high enough credit limit, keep shopping around. If you’re unable to get exactly the card you want, spend some time building your business credit profile and try again; you will probably find much better terms. Like anything you do in business, it can take some time and effort to build your business credit profile, but it’s well worth it.

Do not underestimate the importance of business credit to your business. You absolutely need credit that is not tied to your personal credit and that will reflect your business’s integrity. This is one of the most important things you can do for your business.

So exactly what is a merchant cash advance? It’s not unlike a payday cash advance. A lender gives you a loan based on your recent credit card sales, and takes a percentage of future credit card sales until the loan is repaid. These lenders will often lend to merchants with less than stellar credit, but they generally will not lend to new merchants or merchants without a proven record of significant credit card sales, because they rely on credit card payments for repayment of the loan.

There are definitely some advantages to the borrower with this type of loan. First, as mentioned, these lenders will often give cash advances to merchants with less than stellar credit, as long as they have a solid credit card sales record. Merchants who really need a loan and can’t get one otherwise can probably get a cash advance loan.

Many traditional small businesses with healthy financial statements have difficulty getting a traditional bank loan for various reasons, and these merchants, too, may find an MCA useful.

However, as with everything else, there are also disadvantages to merchant cash advances.

First, the charges vary widely from one loan to another, even with the same lender. Payback is calculated on a fixed daily percentage; you pay back the loan as you sell. The more credit cards sales you do each day, the faster you repay the loan. This can make your payoff higher, rather than lower, due to the fixed payback percentage.

In any case, the cost of borrowing money through a merchant cash advance is always going to be higher than getting a traditional loan.

Should you get a merchant cash advance? The answer really depends on your circumstances. If your business is bringing in steady credit card sales and you know you can repay a loan, make the effort to apply for a business line of credit or bank loan. If you are unable to get financing through traditional means, and you really need the extra cash flow, you can consider a merchant cash advance.

Be sure that your credit card sales are steady enough to repay the loan, and that you understand exactly how much the loan will cost you. Talk to several lenders and get quotes and terms in writing. If you have any doubts or questions, ask your accountant and/or attorney to go over the information and help you make a decision.

If you decide to get a merchant cash advance, keep in mind that you will pay more to borrow money this way, and it is not a perfect solution to your cashflow situation. However, it definitely is one solution.