1. Why do I need to worry about building a business credit profile?
When applying for business credit funding all potential creditors are going to check at least one business credit profile established by an outside independent source. The basis for their decision to approve or deny your request, how much credit they will extend, the terms and whether they will require a personal guarantee will rely in large part on that profile.
2. Can I build business credit without incorporating?
Yes, but in reality, any creditor will be looking to your personal guarantee only. It only makes sense to have an entity, and the tax savings associated with that entity will more than pay for it.
3. How do I get set up with Dun & Bradstreet for reporting purposes?
ABD does all that for you.
4. Do all companies report to the major credit reporting agencies?
Almost all vendors will use one of the major business credit agencies to check your profile, but far too many do not bother to report your good credit. ABD will only send you to those that will report your timely payments.
5. Why shouldn't I just do this on my own?
Many vendors require a certain amount of time in business, verifiable trade references, a certain level of business credit score or some other criteria that you must be aware of before applying. If your credit application is rejected too many times, your company could be red flagged, and will never be able to get credit without personal guarantees. There is a method to the madness.
6. Can I get the money I need by working with ABD?
ABD will work with you through the entire building process, monitoring your progress, and showing you an ever widening circle of sources for your financing needs. However, it is a process, and you must stay the course. If you do, doors will open to you that could mean the difference between success or failure. ABD also has contacts in the investment banking industry for those that qualify.
7. Do you have related services that will help my company?
With every "Accelerated Credit Service" program ABD includes its business coaching program absolutely free. This program will help you to get your company off on the right foot by giving you access to our years of business experience. We can also help you build a professional business plan which will be needed when talking with banks and other investors. If you need incorporating services, we can help you in any state. We can also refer you to qualified CPAs that understand what you are trying to accomplish, and that have strong backgrounds in corporate accounting procedures.