Business Credit Leveraging

Victor Allen

• Publisher: PageTurner Press and Media
• Year: 2021
• eBook ISBN: 9781638710707
• Edition: 1
• Topic: Personal Development
• Subtopic: Personal Success

This book will help a person with a plan, yet funding caused everything to come to a complete stop. It will also help someone bridge the distance between ambition and destiny. I sometimes look at it as my bridge to fulfill my purpose in life. I feel that knowledge is power. So many people don't understand financial institutions. I feel I need to share the information with people to help someone.

I found myself in this position after I graduated from college. I had a degree but no job. I had goals and ambition to get to that point in life. I just didn't understand how to get my plan funded past this point. I had 65, 000 dollars in debt from loans in college, so my social security number was just a little over-leveraged. I had no idea what an EIN number was at the time.

I realized I had an IT degree, but I needed a business financial mentor. This book explains what I learned over the next few years to drive my net worth over a million dollars.

I have streamlined the process for people now: AllenRevenueSolutions.com.

I have the entire process step by step for anyone in this position in life. Many people have a plan but can't get the money to get it started. I just simply want to help these people reach their goals, which I call their divine destiny in life.

Copyright © 2021 by Victor Allen

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All rights reserved. This book or any portion thereof may not be reproduced or transmitted in any form or manner, electronic or mechanical, including photocopying, recording, or by any information storage or retrieval system, without the express written permission of the copyright owner except for the use of brief quotations in a book review or other noncommercial uses permitted by copyright law.

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Created in the United States of America

ISBN: Softcover 978-1-63871-071-4

Hardback 978-1-63871-072-1

eBook 978-1-63871-070-7

Republished by: PageTurner Press and Media LLC

Publication Date: 06/08/2021

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To order copies of this book, contact:

PageTurner Press and Media

Phone: [phone]

[email protected]

www.pageturner.us

Contents

PREFACE v

INTRODUCTION vii

CHAPTER 1 The Power of Business Credit 1

CHAPTER 2 Business Credit Reporting Agencies 13

CHAPTER 3 Business Credit Scoring 22

CHAPTER 4 Building a Strong Business Foundation 34

CHAPTER 5 Business Credit Reports 42

CHAPTER 6 Building Vendor Credit 45

CHAPTER 7 Building Revolving Credit 55

CHAPTER 8 Bank Ratings 63

CHAPTER 9 Obtaining Business Funding 66

CHAPTER 10 Types of Available Credit and Funding 71

CHAPTER 11 Understanding Personal Credit 90

EPILOGUE 103

RESOURCES 105

PREFACE

It is a common myth that doctors are all rich; that doctors earn above average incomes and that they have an abundance of wealth available to them for investing, travel, education, entertainment, and an abundant lifestyle.

This is true in many cases, but the dirty secret among doctors is that physician personal incomes have dropped drastically in the last few years and many are struggling to remain in private practice. Some are being forced to go to work as an employee for a large hospital or some impersonal medical group. They, in effect, become simply employees, putting in the time that others dictate and working for whatever someone else thinks they are worth.

This book can show you the light at the end of the tunnel. Whether you are a doctor fighting to keep your private practice open due to a lack of revenue (or perhaps mismanaging the expenses in your practice) or someone who works in management, you will find the tips and tricks in this book to be valuable. Many struggling practices have been turned into profitable entities after putting these practical ideas in practice. You, too, can thrive in your own private practice.

As owner and manager of a local office of the nation’s largest network of certified medical revenue managers, I am happy to be able to share this book with you. I am available anytime for consulting with you on how to implement new ways of cutting expenses and increasing your revenue.

Sincerely,

Rev. Victor Allen, CMRM

832-314-2618

www.allenrevenuesolutions.com

INTRODUCTION

It is estimated that over 90 percent of the business population knows nothing about business credit. As a result, many business owners use their personal credit for business purposes at great consequence. Over 50 percent of businesses today fail, and with most of those businesses the business owner used their personal guarantee for their business debt, costing them their family’s entire life savings and personal assets.

With this book in your hands, you are about to become a business credit master. You will know exactly how to build business credit scores and a business credit profile for a business. With this business credit profile built, you and your business can obtain large amounts of credit and funding for your business without having to supply a personal guarantee and being personally liable for your business debts.

I have helped over 11,000 clients improve their personal credit, build business credit, and qualify for financing. I have had the opportunity to witness thousands of loans get underwritten and seen firsthand how lenders make their lending decisions. I have helped consumers build and repair personal credit to qualify for lending. And I have helped business owners obtain hundreds of millions of dollars in funding. I have dedicated more than a decade to learning everything about how creditors and lenders do business.

That knowledge has helped create one of the most advanced business credit building systems in existence today. This system has been used to help business others obtain funding and build business credit for their businesses. These unique business credit building methods are also taught at the largest credit conventions in the nation to other credit firms. And now this book will give you the knowledge and power to fight and win the business credit battle.

This book is designed to give you a step-by-step process of understanding how to build credit and obtain funding for any business. You will learn first to understand the business credit system itself, then know what lenders are looking for in order to approve a business credit and funding, and finally, you will learn where to go to secure funding for your business and know about the types of funding available today. Your business can have an excellent credit score and qualify for credit and funding without you having to offer a personal guarantee. This book will show you how.

CHAPTER 1

The Power of Business Credit

You have most definitely heard of Equifax, Experian, Trans Union, and the FICO score before. In the United States these have become household names. On the other hand, most Americans and even most business owners have still never heard of a DUNS number, PAYDEX score, Intelliscore, or even Dun & Bradstreet.

Entrepreneur.com reported that fewer than 10 percent of business owners have any knowledge whatsoever of business credit. This is actually great news for you, because now that you are reading this book, you do know about and will thoroughly understand the power of business credit. What’s more, that means that the other 90 percent of business owners know nothing about business credit, leaving more money available for the smaller percentage who do, including, now, you.

Most business owners quickly get accustomed to using their personal cre...

Table of contents

• 9781638710707-eBook