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Building Credit That Works For You

Too many small business owners are in the mindset that building corporate credit should be done quickly and then not given another thought.  What they fail to realize is -- if you build that credit correctly while you are in the process of building your business -- it will continue to grow and work for you long into the future.

 

No matter what you do, your business requires tools.  A chef needs pots, pans, and food to prepare.  A car dealership needs access to vehicles, a place to sell them, and people who know what their talking about.  A realtor needs properties, signs, phones, and sales professionals.  But even with all these elements in place, a weak corporate reputation can keep your potential clients and customers from trusting, and keep your business from being able to succeed.

 

A strong corporate reputation is required in today's tough markets -- equally  as important as any other tool in your chest. But if you are currently working with a company that is using shady techniques, you may find out it will cost you more to get to your goals, and could cost your business it's reputation.  You should know what is actually in store for you before you begin.

 

For over 175 years, Dun & Bradstreet has been in the business of measuring risk.  They have made it their business to gauge your business on a standard of how it performs against other companies your age, your size, and in your industry.  They have seen businesses grow and thrive while others crumble and fail. And they have learned their lessons by thwarting the efforts of those who attempt to deceive creditors and suppliers.

 

D&B may not always be right, and they certainly won't always make it easy, but they have fought hard to become the standard by which all others are judged.  If there is negative information in your corporate credit file, they provide options to dispute it.  If there is missing information, they provide free services to correct the data.  If you have vendors and suppliers who can provide verifiable payment history, they provide options for reporting that information. 

 

If D&B sees certain red flag behaviors, they could put your credit file under investigation, downgrade your creditworthiness, or even sever your ability to get any credit at all.  Their subjective algorithms and trained eyes will spot pattern behaviors that indicate risk, and they will stop it dead in its tracks.  In short, they understand that alot is riding on reputation -- theirs and yours.

 

Starpoint Credit Solutions understands that, as well.  Having been employed and trained by D&B, we understand the data and it's impact on your credit reputation.  We structure our strategies to meet or exceed their standards.  We strive to build a solid, well-rounded corporate credit file that will continue to work for you as your business grows.  We know there is no one out there who knows more about your business than you, so we work directly with you, one-on-one, to ensure the best possible picture of your business is presented.

 

To the right, you will see what some companies may tell you about how to build corporate credit compared against what Starpoint will practice when getting you there successfully.  We see where these risky strategies have gotten others.  We have seen good businesses fall in waste.  We hear the horror stories everyday. We don't want you to become one...

RISKY BUSINESS

The use of shelf corporations to build credit for a company

that is not functioning as an active entity.

STARPOINT

Does not recommend the use of shelf corporations because

it requires the business owner to provide false information

that can potentially lead to federal charges of bank fraud.

Use your own business.  If you don't have one, start one.

 

RISKY BUSINESS

The sale of CPN numbers in an effort to hide poor

personal credit history.

STARPOINT

Does not recommend the use of CPNs because they are a

known indicator of prior disreputable activity and will

eventually trace back to the user and cause legal concerns.

Build up your business credit so it is not reliant on your personal.

 

RISKY BUSINESS

The use of virtual addresses and phone numbers

to portray an active location for the business.

STARPOINT

While virtual addresses certainly serve a purpose, D&B will

only recognize the address where the business is actually

operating from, even if that is a residential address.

Use the address and phone number your business operates from.

 

RISKY BUSINESS

The sale of "tradelines" as a means to quickly build up

a payment history and profit at the client's expense.

STARPOINT

You should start by adding your existing suppliers first, but also

know that many of these so-called "tradelines" provide Net 30

credit or purchasing accounts to new businesses at no charge

and generally do not require the use of a personal guaranty.

Add your own tradelines and open free accounts with new providers.

 

RISKY BUSINESS

Providing false information and/or financial statements

to support a business that has had no income or expenses.

STARPOINT

Do not do this.  It is deceptive, fraudulent, and can cause

cross-contamination of any other business you may own

or be associated to in the future, not to mention will

bring very costly legal issues you cannot escape.

Only provide information that is verifiable and open to validation.

 

RISKY BUSINESS

Use of a credit "partner" to piggy-back off the

solid personal credit file of another person.

STARPOINT

This is extremely risky because it will permanently link your

business to the practices, reputation, and credit file of someone

who may have (or eventually get) a disreputable/corrupted file.

We recommend you do not put your business credit file at risk this way.

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Do you need to improve your business credit scores and ratings?

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We can help...

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30-Day Powerboost

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The fastest, easiest, and most affordable way to build and boost your business credit scores and ratings...

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And we do most of the work for you!

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$99/month

Keep as long as you like or cancel at any time — even after just 1 month!

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Subscribe using PayPal

or any debit/credit card

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WE WILL:

  • Gain access to your business credit profile

  • Update the business information in your file

  • Dispute removable slow payments

  • Challenge outdated public filings

  • Gather your existing vendors and suppliers

  • Submit your trade references to D&B

  • Track your updates and scoring improvements

  • Send you an updated report as changes occur

  • Establish new trade lines for your business

  • Advise you against potentially risky behavior

  • Provide companies who can report payment history to the business credit bureaus

  • Register your business with SAM.gov

  • Provide you with guidelines and the training you'll need to keep making progress

  • Refer you to trustworthy lending sources for working capital and business lines of credit

  • Walk you through the application process and answer your questions along the way

  • Keep you on a consistent track to success

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