Business CREDIT
What is Business Credit?
Business credit refers to the ability of a company to obtain borrowed money that it can use to purchase products or services which are based on the trust that payment will be made in the future. Unlike personal credit, business credit is tied to a business entity itself, not the business owner. It is essential for business operations because it influences financing opportunities and terms offered by lenders and suppliers.
Business credit is built through a history of transactions and repayments. It’s measured by credit scores and ratings provided by business credit bureaus such as Dun & Bradstreet, Experian Business, and Equifax Business. These scores affect a company’s ability to secure loans, the interest rates applicable, and the credit terms with suppliers. Effective management of business credit includes timely payments, maintaining a good credit history, and monitoring credit reports to ensure accuracy.
What are Business Supplies?
Business supplies are the essential items and materials required for the everyday operations of a company. These can range from office supplies like paper and pens to manufacturing inputs such as raw materials. Supplies are a fundamental part of the operational process, and their acquisition is often influenced by the company’s creditworthiness.
The management of supplies involves logistical considerations, such as supply chain management, inventory control, and supplier relationships. Efficient handling of business supplies ensures uninterrupted operations and can significantly impact the company’s profitability and efficiency. Unlike capital or credit, supplies are current assets that are continuously used and replenished over short periods.
**Business supplies can be built solely off your EIN**
What is Business Capital
Business capital encompasses the financial assets necessary for a business to produce the goods and services it offers. It is a broader term that can be categorized into debt and equity. Debt capital refers to borrowed funds that must be repaid over time, with interest. This includes loans, credit lines, and bonds. Equity capital is raised by selling shares of the company to investors, representing ownership interests.
Capital is crucial for funding growth, innovation, and expansion efforts. It can be used to invest in new technology, expand facilities, hire additional staff, or enter new markets. Managing capital effectively is vital for maintaining a healthy balance between growth and financial stability.
**For Business Capital you need to leverage your Personal Credit to obtain funding**
How it works
BUSINESS CREDIT PROFILES
We begin with creating your business Credit Profiles to make certain your company is listed and has a DUNS number so lender can report your lines of credit to the Business Credit Bureaus. Additionally, we will list your company in all of the directories and simple searches that lenders use and look to verify and locate your business making your business credible.
TRADE LINES
First out of three rounds of credit card commences with setting up your first 2 lines of credit or trade-lines. This purchase activity takes 30 days to report to Duns and Brad Street or Experian as two (2) Trade lines of credit reported; now you have (2) Trade-lines and payment experiences.
LEVERAGING TRADE LINES
We leverage your (2) Trade-lines for your “Direct to Store” lines of credit cards.. these are your higher vendors IE. Amazon.com, Walmart, Home Depot, Sams Club, Fuel Cards etc…. you use the credit given to enhance your business remembering that we are in the building stage. At this point you will have between 4 to 6 Trade- lines of Credit; we leverage that with your Paydex score of 80 plus.
Long-term Financial Strategy
Integrating business credit obtained through New Era Success LLC into your financial strategy can have transformative effects on your business’s growth and stability. It allows for:
- Risk Mitigation: Separating personal and business finances reduces overall risk exposure.
- Flexibility in Financing: Access to credit can help businesses manage unexpected expenses and investment opportunities more effectively.
- Enhanced Business Value: A strong business credit profile can increase the intrinsic value of your business, making it more attractive to potential investors and buyers.
Innovation and Expansion Opportunities
With the financial leeway that business credit provides, businesses can explore new markets, invest in research and development, and adopt innovative technologies without the immediate pressure of full upfront costs
Address
101 NE 3rd Avenue
Suite 1500
Fort Lauderdale, FL 33301
Phone
(954) 329-4188