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How Do Home Equity Lines of Credit Work?
How Does a Line of Credit Work?
How Does a Loan Calculator Work?
How Does the Mortgage Loan Process Work Nationwide?
How to Become a Loan Officer
How to Build Business Credit
How to Calculate Credit Card Interest
How to Calculate the Terms of Loan
How to Calculate Your Loan-to-Value Ratio
How to Obtain Corporate Credit
Learning Debits & Credits
How to Get a Credit Card If You Have Bad Credit
What Is a Certified Credit Counselor?
How to Obtain Credit
How to Fix Bad Credit
How to Monitor Credit
From Quick Guide: Business-to-Business Guide
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Corporate credit is based on the credit rating of a business. Banks will often extend a business loan base… More
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Summary: Corporate credit is based on the credit rating of a business. Banks will often extend a business loan based on a strong personal credit rating, which allows that individual to act as a guarantor for a loan. Find out how to get a corporate loan based on a personal credit rating, or by applying to a secondary lender, in this free video on personal finance from a licensed mortgage broker.
Adriel Torres has been in the mortgage business for over a decade. He has owned two mortgage companies and is a licensed mortgage broker. Torres has been doing credit repair since...read more
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"Hi. So, now you have your own business and you're wondering how to obtain credit for your business, otherwise known as corporate credit or business credit. Not a problem. I'll be able to answer that. My name is Adriel Torres and I'm the owner of Ultimate Credit Today.com. Business credit and personal credit are different in a sense of the personal credit is based on your own personal credit report and business is based on the business. Now, for a new business owner, it's a little bit harder to obtain the credit that you require or you require to either run your business or just to get credit for your business. Now, if you do have strong personal credit, a lot of lenders will give you a loan or a credit based on your personal. You will be a personal guarantor of the loan or the credit, but it will be in the corporation's name or in the company's name. And that's how you start to establish business credit. If you don't have strong personal credit, you may have to go to a secondary lender which you can find online. And they may give you credit, but it's going to be on much worse terms that it would if you had good personal credit. The interest rates can be a little bit higher or you may not get the loan amount that you need or the type of credit you're looking for. But you can still get it. Either way, that's a good way to start because once you have the first, it's easier to get the second or third type of credit where there's a credit card or loans. But make sure you always pay on time and you always pay it off. And that's how you obtain business either credit trade lines or credit cards on your business. My name is Adriel Torres and I'm the owner of Ultimate Credit Today.com. Thank you very much."
eHow Article: How to Obtain Corporate Credit
Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.
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