Accessing corporate business credit is the fastest and most powerful way to expand any business. However, in today's credit environment banks have been getting stricter with their lending requirements.
Most small business owners are starving for cash and unfortunately this environment has led to several unscrupulous corporate business credit providers taking advantage of desperate business owners seeking corporate credit.
When hiring a professional corporate credit builder you must be extra careful who you deal with. Here are 3 crucial questions you must ask any company before hiring them to build your lines of corporate business credit.
CAUTION: Failure To Ask The Following 3 Questions Will Likely Put You At Risk Of Being Taken Advantage Of And Prove To Be A Very Costly Lesson!
Corporate Business Credit Crucial Question #1: Are they really on your side?
How Does The Company Get Paid?: The best corporate business credit building firms only get paid if they actually get you results. Before dealing with any company ask them how they get paid. Is there an upfront fee? If there is, how much of the total fee is paid only after they are successful in acquiring corporate business credit lines for you?
When you're dealing with a really good corporate credit builder they will not charge you until after they produce results. If they don't get corporate credit for you then they simply don't get paid! With this payment arrangement you know they are on your side and have your best interest in mind.
Which Type Of Credit Will They Build For You : Will you receive trade credit or cash credit?
This is one of the biggest rookie mistakes people make when they hire a professional corporate business credit builder.
Many corporate credit companies prey on their client's ignorance of the difference between "trade credit" and "cash credit". You'll see outrageous advertisements like "Get a 300K Corporate Credit Line Within 30 Days With No Credit Check". Beware of outlandish advertisements such as these.
Often when a corporate credit builder makes such claims they are talking about building you trade credit and not cash credit.
What's the difference between Trade Credit and Cash Credit?
Trade credit can only be used with one particular store or vendor. Trade credit is great if you need office supplies or computer equipment but it won't do you much good if you need actual cash. Like the saying goes, "Cash is king".
Corporate Business Credit Crucial Question #3: Can The Company Provide You With Referrals?
This should be a no brainer but it amazes me how many people pay for corporate business credit building services without getting referrals first.
Any decent corporate credit builder should be able to provide you with a list of happy satisfied customers. If they can't provide you with referrals and satisfied customers then the odds are they don't have any satisfied customers. Always ask for referrals before you pay them any money. If they can't provide referrals then walk away.
No comments:
Post a Comment