5 Business Loans That Can Help Your Business Credit

Everyone starts somewhere. The process of building a business credit profile isn’t incredibly different from building personal credit; making payments on time and avoiding carrying high balances are always good practices, but the tools will be different. Most any bank will offer business loans or other basic business financing options, but Chase can boast that they report to all major commercial credit agencies (Dun & Bradstreet, Equifax, Experian, SBFE).

That means that as you make your payments on time and keep your balance down with a Chase loan, your diligence and hard work will likely reflect on your business credit report, more likely than with most other major lenders. 5,000, offer fixed and adjustable rates, and fixed monthly payments to help you keep a grip on your cash flow.

They also offer lines of credit, commercial mortgages, equipment financing, and, of course, credit cards. Keep your credit in good shape, so it's ready whenever you need it. Nav is the ONLY source for both personal and business credit scores and tools to build better business credit. Get Started For Free. Similar to Chase, Citi reports to all major business credit bureaus. They also offer a wide variety of credit products from term loans to lines of credit to commercial mortgages.

With their reporting procedures, you can add positive history to your business credit profile. They also offer a service online that prompts you to fill out a worksheet regarding your business needs to be contacted by a Citi lender to discuss further. You can also check with Nav to find a variety of quality financing options and see your business credit score for free.

Search online to check license/registration using NMLS Consumer Access. Review court orders filed by DFI in Kentucky through the Mortgage Enforcement Actions and Other Industry Enforcement Actions. Control Your Credit - Teaches the basics of maintaining good credit through a visit to the Bad Credit Hotel. Financial Football Training Camp - Features an interactive game with four modules where financial savvy leads to touchdowns. Choose your favorite National Football League team and answer questions correctly to advance down the field.

Where to Get Debt Consolidation Help Is there help for debt consolidation, Sure, there is; and the help is available for free in some areas. If you suffer bad credit, then you can get help by reviewing the free do-it-yourself kits at the local libraries. Debtors can go to the public library and find help books that will direct you from beginning to end through the steps of paying your debts all the way to repairing your credit. The majority of libraries will allow you to copy and print the forms inside the guides.

This means you can simply fill in the blanks, submit the forms to the right sources; and you will soon be on your way to debt relief. Most creditors prefer letters over phone calls, since the letters explain deeper details than an ordinary telephone message will display. In addition, letters are best for you, since, if you are being taken to court for debts owed, you will have written copies that you put forth the effort to repay your debts. Written information will hold up in any situation verses word of mouth.

In addition, you should keep all copies of return letters or letters from your creditors. This will include recording phone conversations, recording dates, recording time, and even recording the name of the person who called. You will provide a brief outline of the conversation and store the files in a safe location. If you find errors or faults on your bills that seem mysterious, don't delay in taking it upon yourself to contact the creditors immediately.

Also, if you own a credit card, and are forced to repay debts on damaged packages, remember that it is illegal for anyone to force you to pay for damaged goods if you did not cause the damage. Debt consolidation is an ongoing process, but if you find a way to relieve debt gradually, you will eventually reap the benefits of your efforts when you become debt free. Talbert Williams offers debt consolidation, debt reduction, credit card debt referrals and advice.

If you’re a first-time car buyer or your credit is less than perfect, some auto lenders may require you to have a cosigner. Cosigners must meet specific requirements such as having good credit and a stable income, but having one on your car loan can help your chances of getting approved.

So, what does a cosigner do for a loan, A cosigner’s role is to add themselves to an auto loan application (and the loan, itself) so the primary borrower can get approved. Depending on the lender, a cosigner may be required for borrowers with little to no credit history to increase the chances of approval.

If you’ve been asked to be a cosigner, the good news is that you can benefit from cosigning, too. As long as the primary borrower continues to pay the loan each month on time, your credit score will improve. But, sometimes life doesn’t work out so smoothly, and you could face some of the downsides to cosigning.