Frequently Asked Questions about Business Credit and the Business Builder Program
What is Business Credit?
Business credit is credit that your business builds independent of your personal consumer credit. Your consumer credit is linked to your SSN, in the same way your business credit is linked to your EIN. This means when applying for business credit, you're not usually required to include your SSN.
To properly establish your business entity and its credibility you'll need to start by building your business credit profile with smaller vendor accounts. As your business pays those retailers you will then qualify for revolving store credit cards, and then cash credit that you can use anywhere, just like a normal personal credit card except for the fact that it's in your business's name.
You can build business credit with or without good personal credit because your business credit is determined by the business's ability to pay it's bills on time and nothing else. When you combine both your personal and business credit, you can effectively double your access to credit.
What are your Business Credit services?
We offer two main services, The first is our Business Credit Builder Program which helps you build your business credit (that’s not linked to your SSN) using a proven step-by-step, field tested, business owner approved, and highly personalized process. By using our user-friendly & intuitive software and the only full-service business credit advisory team in the industry, you’ll be guided every step of the way, simplifying your experience of obtaining business credit.
Wise Guys in Ties Helps You:
Setup your business to meet lender and credit issuer credibility standards to get automated approvals
Setup and activate your credit profile with Dun & Bradstreet, Experian, and Equifax Commercial and get your free D-U-N-S number (which is essential to building great business credit)
Get initial trade credit to build your business credit reports with no personal credit check
Get business credit without a consumer credit check or personal guarantee
Wise Guys in Ties helps you get your business set up the right way to meet lender and credit issuer approval requirements, and get approved for initial business credit that reports and builds your profile with Dun & Bradstreet, Experian, and Equifax Commercial.
You can also monitor your business credit reports and scores in real-time with our Dun & Bradstreet and Experian monitoring integration, powered by Nav.
Once you are setup with the business reporting agencies, we help you access multiple revolving credit with limits of $5,000 – $50,000!
Types of Credit We Help You Access:
Store business credit with Dell, Walmart, Amazon, Costco, Sam’s Club, BP, Chevron, Home Depot, Lowes, Staples, Office Depot, and with most other major retailers
Fleet credit for fuel and auto vehicle repairs for your primary vehicle, and a fleet of commercial vehicles
Cash credit including Visa and MasterCard accounts you can use in most locations worldwide
Auto vehicle financing to purchase or lease your primary vehicle or a fleet of vehicles, in your business name
Our second main service is Direct funding. This service works with all legitimate types of funding programs available today, offering funding through hundreds of investors and lenders through a multitude of different funding programs. These lenders all offer their own different and unique lending requirements, so it’s tough to navigate these alone and know all your options… which is where we help.
This gives you the best opportunity to get the most amount of financing, at the best terms.
Here are just a few of the most sought-after loan programs you can access through the business credit builder.
Unsecured Business Financing (with PG) up to $150,000 - Even for Startups!
Business Revenue Lending and Cash Advances with 72 Hour Funding
Account Receivable Loans and Credit Lines with Rates of 1% and Less
Purchase Order Financing and Inventory Credit Lines
Securities and 401k Financing
Equipment Financing and Leasing for Purchase and to Refinance Existing Equipment
Private Investor and Alternative SBA Financing
Do you repair business credit?
No. There is no formal process of fixing business credit as there is no FCRA or FACTA laws that deal with business credit reporting.
Still, our business credit advisory team will advise you with any ongoing dispute or any discrepancies on your business credit report as part of our program, and they'll show you where to go and guide you through the business credit dispute process.
We even have a step dedicated to fixing errors on business credit reports as part of the Business Credit Builder Program.
But the main function of the finance suite is to help you and your customers build business credit, as well as get money.
How much do your services cost?
Our Business Credit Builder Program is $5,000 when financed over 12 months or you can save over 50% by making a one-time cash purchase of $2,497. It takes six to twelve months to build a business credit profile with over $50,000 in trade, store, and cash credit. Our direct funding services remain with you for up to 5 years or as long as you are in need of them.
What is the Business Credit Builder Program?
The Business Credit Builder Program is an online platform specifically engineered to walk you through a customized step-by-step process on how to build your business credit - from start to finish. In other words, this program is tailored to your specific situation, which makes your process to getting funds very simple and intuitive.
As you go through the Business Credit Builder Program, you'll be able to know in real-time, which lending and credit sources you're pre-qualified or pre-approved for so you have the confidence that you'll be approved before you even apply!
In addition, you'll have concierge service from our business credit advisory team as well as our team of loan officers to assist you at any point along the way. Between our revolutionary online platform and our live expert team at your fingertips, you're guaranteed to get results - as long as you actually use the program and do the work.
How does the Business Credit Builder Program work?
Over the years, we have fine-tuned and upgraded our instructions so that the business credit builder is as easy to follow as possible.
Every step of the business credit builder includes simple education videos and direct resource links so that your business credit building journey is a 'no-brainer'. In the rare occasions that you need help, you have our business credit financial advisory team as well as our team of loan officers to help.
So as long as you're committed to following our instructions and are serious about the success of your business, then yes, you really can do this -- even if you're technically challenged.
With that being said, it's important to understand that we do not build your business credit for you. We help you through simple step-by-step instructions and education. Essentially, follow our instructions and get results.
Can I do this on my own?
Yes, you can build your business credit on your own. Be prepared to do hours and hours of research to find vendors that will extend net 30 accounts without requiring a personal guarantee and who will also report to the business credit bureaus.
Keep in mind that only 3% of vendors report positive payment history to the business credit bureaus making it very difficult to build business credit. It also takes time to learn the unpublished unwriting guidelines for credit issuers as well as the minimum payments needed for them to report to the business credit bureaus.
At this point most small business owners either give up, provide a personal guarantee, or hire the professionals (i.e. Wise Guys In Ties) to help them build business credit that's not linked to their SSN. Business owners who hire Wise Guys In Ties find multiple vendors that will extend net 30 accounts without requiring a personal guarantee and who will also report to the business credit bureaus.
Wise Guys In Ties provides their clients with the unpublished unwriting guidelines for credit issuers as well as the minimum payments needed for them to report to the business credit bureaus. Those business owners go on to build $50,000 in lines of credit within their first year and up to $150K - $250K within their second year.
How much Business Credit Can I get?
Each Business Credit Builder Program is designed to work with one specific business to get you $50,000 or more in vendor credit, store credit, and cash credit within six to twelve months. Since there is no limit to the number of businesses you can own, then there is really no limit to amount of business credit you can build.
How long does it take to get Business Credit?
We've broken the process into four rounds or tiers. You can qualify for vendor credit right away. You’ll then start to qualify for store credit within 60 days after that with no personal credit check or personal guarantee. After 6 months you then should have access to $50,000 or more in unsecured high-limit cash credit, including Visa and MasterCard with needing a personal guarantee.
You can then continue to build $100,000-$250,000 or higher in business credit within a year to two. And with our Business Credit Builder Program you can also gain access to other cash funding programs within a couple of months.
What is Credit Banking?
Credit Banking uses lines of credit to free up cash flow to transfer highly expensive amortized loan interest into simpler and less expensive forms interest. This has the effect of radically decreasing the number of loan payments which reduces the total interest paid and aggressively pays down the principle loan balance in about 1/3 the time.
How do I get started?
Simply, schedule an appointment with one of our knowledgeable business credit professionals and we'll walk you through the process:
When I hire your services, what am I responsible for?
As a business owner you are ultimately responsible for all of your business operations and obligations. You are also responsible for following the program step by step to ensure your businesses success with this program.
This includes but is not limited to applying for credit accounts, making purchases, and then making on-time payments for those purchases.
Are there any other additional expenses?
There are several expenses that are involved in setting up and maintaining a business. You are responsible for covering any additional expenses associated with building business credit including, legal setup, email, website, phone, physical location, order placement, invoice payments, accounting, taxes, business credit monitoring and any other legitimate business expenses.
What's the difference between Personal and Business Credit?
There are only a few similarities between the two. Some of the major differences are how the credit is established, The way your score is calculated, your privacy and accessibility and Security and protection. They are different in so many ways that most people fail to build business credit because the assume it is the same as personal credit.
How much does it cost for your Direct Funding Services?
There is no cost to look and see what you may qualify for. There are also no hard inquires made while determining what funding options might be available to you.
Our team of loan officers will discuss in great detail all of the funding options you qualify for as well as any fees and interest rates associated with various credit cards, credit lines, and loans before they refer you to any specific program.
How do I register for future webinars?
You can Register for future webinars by visiting our Events Section of our website, https://wiseguysinties.com/events/
I scheduled a Free 30-minute consult, what do I need to have ready when you call?
Please keep in mind that we are not lawyers, CPA, financial advisors or planers, or fiduciaries. We are simply successful business owners that have built business credit for ourselves as well as hundreds of clients and found hundreds.
When we meet, please be prepared to discuss your business goals and finances to better help us advise you on the business credit building strategies most likely to help you meet your goals.
What makes this system so different than other business credit building programs?
This is the only system in the world which successfully combines both business credit building and direct funding.
This means that our clients can build their business credit and get the money they need immediately, as long as they have good credit or collateral that they can secure the money with in less than 30 days.
Our Business Credit Builder Program is also the only system that shows business owners how to get free access to Experian Smart Business, as well as help to get your D-U-N-S number with D&B for free, and help to list your phone number with the national 411 directory for free.
This alone saves you thousands.
The Business Credit Builder Program has more lending sources, revolving business credit accounts, and starter vendor accounts than any other system on the market today.
And the Business Credit Builder Program is the only system with one-click access to business credibility sources, underwriting guidelines provided for all business credit sources, and has by far the most advanced business credit building technology available today.
Can I use the Business Credit Builder Program for more than one business?
No, each business builder program is customer tailored to meet the needs of a specific business. We recommend purchasing a separate Business Credit Builder Program for each business you want to obtain business credit and direct financing.