How To Build Business Credit, with Ty Crandall
hosted by: David Mariano, Director and head
of the firm’s Buy-Side advisory practice
How to Build Business Credit, with Ty Crandall
In order to grow your business you might need to raise capital, whether debt or equity. Then again, you might not. One thing you need for certain is business credit.
This week, Ty Crandall, founder of Credit Suite, internationally known speaker, author and leading authority on business credit, shares his advice on how to build a solid business credit profile for the future of your business.
Key points in this episode:
* What is business credit and how is it different from consumer credit?
* Does business credit help to eliminate personal guarantees that are attached to some business loans?
* Can a business owner start building a credit profile to early or too late?
* Is there a relationship between business credit and customers/vendors?
* Can you build business credit on anything other than debt?
* Who can look at a business credit report?
* What kinds of businesses need to build business credit?
* How does a business owner start to build business credit?
Key points in this episode:
* The importance of creating a separate, business credit not linked to your personal credit.
* Which kinds of business activities will report to the business credit reporting agencies.
* How different kinds of entities determine your liabilities.
* Why some, well-managed business debt is good for business (at 10:09).
* How to use a business credit card to your advantage.
* The risks of not building a business credit profile (at 17:38).
* What the differences are between consumer credit and business credit.
* The steps to building business credit and one important thing to leave out of a business credit application.
Resources mentioned in this podcast
* Click here for access to training and templates
* Credit Suite – Free Report
* Credit Suite’s YouTube Channel
* Business Credit Decoded: Discover the secrets and power of business credit, by Ty L. Crandall
* Perfect Credit: Discover the secrets to having perfect personal and business credit, by Ty L. Crandall
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