We Build Your Business Credit
& Get You Corporate Funding!
Become a Satisfied Deluxe Corporations Client Today
Business Owners are busy people who are focused on building a successful business, but rarely is the focus on completing all the things that lenders need to have completed in order to approve your business. Typically business owners wait until the very last minute to try and get these things done, but usually, by then it is too late. To run and build your successful business, you need to qualify for loans and credit lines at the best loan rates possible. Business credit is essential to make this happen, and it helps you access money even when you can’t qualify for a loan. Deluxe Corporations simplifies the process of obtaining business credit.
Deluxe Corporations Simplifies the Process of Obtaining Business Credit.
Deluxe Corporations helps you build business credit – not linked to your SSN – using a proven, field-tested, business-owner approved and highly personalized process. Using Deluxe Corporations’ user-friendly, intuitive software and full-service business-credit adviser team, we will assist you in securing business credit in the quickest and most efficient manner possible.
Because lenders and other issuers of credit are bound by strick requirements. Deluxe Corporations will assist you in making sure your business is properly structured and that each of the requirements are met to become approved for initial business credit quickly.
Becoming Bankable
Obtaining initial business credit is the critical first step in building your company’s credit worthiness and company credit profile. To become bankable, your business must maintain 10 reporting trade-lines to remain bankable. Therefore, our objective at this stage is to secure your company manageable business credit with 10 trade lines all of which report to the major business-credit reporting agencies.
Deluxe Corporation’s
10 Reporting Essential-Business-Service Trade-lines
It is best to build business credit with an LLC or Corporation (S or C Corporation). Creditors, Lenders, Trade Accounts and so on prefer to see an actual business entity. Furthermore filing and using a business entity to build business credit can separate you personally from the liability of operating your business.
We will be addressing each of the following items and make sure you have them completed.
- Entity With State Records: Your entity must be open, active and in good standing.
- Federal EIN: Your Employer Identification number filing must match your state filing exactly.
- Bank Account: The day your business bank account opened is when lenders consider it began.
- Business Licenses: All applicable city, county, state business licenses must be filed.
- Business Physical Address: The business must have a business address as per the USPS database.
- Unique Business Phone: The business must have an FCC listed business number, not cell or home.
- 411 Directory: Business phone number must be listed with 411 under the exact legal name.
- Business Website: Business needs a website that is found on the local business searches and apps.
- Professional Business Email: Using a free email account for your business can get you declined.
- Experian Business: File must be open with a good credit history and a strong score.
- Creditsafe: File must be open with a good credit history and a strong score.
- Dun & Bradstreet: File must be open with a good credit history and a strong score.
- Equifax Business: File must be open with a good credit history and a strong score.
- Your Bank Rating: Your business bank rating should be a minimum of a low 5.
- Vendor Credit Lines of Credit: At least 5 vendor lines of credit with payments made early.
- Business Credit Cards: At least 3 business credit cards with payments made early.
- Installment Credit Reporting: At least 2 installment trade-lines with payments made early.
- Bank Loan or Equipment Lease: A business only bank loan or equipment lease with early payments.
- Total of 10 Reporting Trade-Lines: At least 10 reporting trade-lines to build strong business scores.
- Business Plan: An SBA loan compliant business plan with market analysis & revenue projections.
Lenders require your business has to have a USPS address that is listed as a business, not a residence or mail-stop. The address of your business needs to look like a business address. Do not use a post office box. You can use your home address for business credit building, but be aware that some lenders will not fund “home-based” businesses. This will not stop you from building business credit scores but may limit your funding options.
You must have a dedicated business phone number that is listed with 411 directory assistance, under the business name. Do not use your home number or a cell number. Lenders, vendors, creditors, and even insurance providers will verify that your business is listed with 411. A toll-free number will give your business credibility, but you must have a LOCAL business number for the listing with 411 directory assistance. These items are important components of building your business credit and boosting the perception of your business.Customize your business phone system so you don’t miss calls and that your team has the most advanced features.
Your website is the first impression of your business so building rapport with customers and making them feel at home is the goal. Your business website should detail your background, experience, and other credentials to show credibility in your abilities. The level of professionalism demonstrated on your website should be designed to build confidence with your customers.
Your business entity must have a Federal Tax ID number (EIN). Maintaining the good standing of your entity is required by Lenders. We provide Entity diligence in anticipation of your business financing, selling, buying and other important business transactions. Make Sure That Your Business Has The Required Licenses. You will need to contact the State, County, and City Government offices to see if there are any required licenses and permits to operate your type of business. You can contact them directly via phone or search their websites to confirm if there are any required licenses or permits for your type of business.
An SBA compliant business plan includes a snapshot of your business as a whole that touches on your company profile, key players, and the experience to make it happen. It shows the roadmap for business success outlining the route your company intends to take to grow revenues projected 3 years ahead. It also includes things such as: What do you sell? How does it benefit your customers? What is the product lifecycle? Your industry, market and competitors. The following are key aspects that every business plan should include:
- The Executive Summary – a 30-second pitch that clearly summarizes your business.
- Market Analysis – How big, the role you intend to play, and why.
- Company Description – An overview of what the business will do and why it is viable.
- Organization & Management – Do you have the experience and expertise it will take to succeed.
- Marketing & Sales – Where is this critical component coming from, in-house or out-sourced.
- Service or Product Line – What exactly are you going to make, sell, or do.
- Capitalization Requirements – How much money do you need and where will it come from.
- Financials – At least 24 months of looking forward numbers that can be industry and market supported.
Customer Relationship Management system helping to schedule email marketing campaigns to bring in new customers, and strengthen existing customer relationships with promotions. Touch base with all of your customers with precise timing, and build lasting relationships with them to keep them coming back. et up clear next steps with every action your company takes, and schedule clear reminders to help you to follow through.
Attract new customers and grow your business through a highly focused social media and content marketing strategy intended to build a strong brand has the best chance of success. First comes the research to find and target your audience that will best convert into customers and then revenue for your business. The goal will be to have 100 online connections who read, share and talk about your business with their own target audiences.
Email marketing campaigns can be used for retaining existing customers and increasing your revenue for your base business. Use email to keep your marketing message in front of prospects to be able to convert them into new customer revenue streams. For each email campaign, you will know who opened the emails, clicked on the marketing links, and took the actions you desired.
Lenders want to know that they can find you, and potential customers need to be able to find you also! 80% of searchers make their buying decision on who to trust for their needs as a result of an online local business listing. Marketing studies showing Yelp, Yellow Pages, Manta, and BBB drives higher conversions than Google, Facebook, Pinterest. Most people searching the web on their phones are looking for something local and 50% of those go to the business they find.