BUSINESS CREDIT BASICS
BUILD CORPORATE CREDIT-THE
REASONS TO BUILD CORPORATE CREDIT
BASIC POINTS ON BUILDING
BUSINESS CREDIT IS CRITICAL
BUSINESS CREDIT AND BUSINESS
PERSONAL CREDIT AND CORPORATE CREDIT
SHELF CORPORATIONS FOR
THE ADDRESS OF THE CORPORATION
FOR CORPORATE CREDIT
THEIR PROMISE TO
BUILD CORPORATE CREDIT
CORPORATE CREDIT BUILDERS GET PAID
AND SMELL THE SCAM
CREDIT: GOT CREDIT? GOT RIPPED OFF?
are many "builders" of corporate credit on the market. Many of them
are promoting themselves as a means of accessing thousands of dollars with
an overpriced shelf company and a bogus corporate credit building program.
Some of the programs operate with or without providing a guarantor for the loan. They say that only the
corporation is on the hook. Is this legitimate and will they support
their claims? Are they really able to get that financing they
promised? Let's look at a few realities...
- The Target
Audience and Corporate Credit
- There are many good people with bad
credit. As a result, this group is looking for another way to meet
objectives. As always, there's another group willing and able to
exploit them and charge outrageous fees.
- Other people are simply seeking to
minimize the negative effects of a possible business deal gone bad.
In this sense, people seek to protect their credit by only making the
corporation liable for this debt.
- They Promise to Build Corporate
- They promise to develop corporate
credit instantly and access hundreds of thousands of dollars in capital.
- They promise to develop a line of
credit without you serving as guarantor on the loan.
- They promise to guide you every step
along the way.
- They promise to introduce you to
sources of credit and assist you in applying.
- They promise to facilitate a Paydex
score, a DUNS number and other registries.
- How They Get
Paid For Their Corporate Credit Building Program Says It All.
- Many of the corporate credit
"builders" like their fees up front. They also like to pad the
rear of their agreements/contracts with disclaimers and exceptions.
This means that you're paying the fee in advance ($3000-10,000) and it's
still up to you. They are giving suggestions and not held
responsible to their claims.
- How do they get away with it?
- They add many steps in their
program. If you didn't follow each step one-by-one, then it's
your fault. Hey, you didn't follow the program in the way it's
supposed to work. So, it's you, right?
- They add ambiguous language to
their contract that doesn't make them responsible for anything.
They have your fee but they don't deliver that much.
- No refund policy. You sign
off that there's no refund. Now, you can't contest that charge
on the credit card.
how they want your guaranteed credit card payment and they won't
guarantee the corporate credit financing!
HOW TO SPOT A GOOD PROVIDER FROM THOSE WHOM BUILD CORPORATE CREDIT:
They are paid as a
percentage of the financing they obtain for you. They win when
you win. That's usually about 5% or less. The entry fee
should be less than $1000.
- This means that you don't need to
spend $5000 so you can see what bread crumbs are falling off the
- You know what you're getting and you
- This is an indicator of a competent
and confident provider of corporate credit services.
- WAKE UP
AND SMELL THE SCAM
- Not all providers of corporate credit
building services are scammers. Here's an example of someone who
was scammed and fleeced by a high-cost provider.
- "They asked me questions about
myself and charged me about $10,000. They told me I was going
to get up to $400,000 in corporate credit. Not only did they
take my $10,000 and deliver little to nothing, they kept on
up-selling me to more services. Throughout this time, I became
frustrated and aggravated. At the end of it all, the stole my
identity and those of their other clients. They were using
clients' identities to apply for financing without their permission.
They overcharged me for this service, delivered nothing and cost me
money in stealing my identity. I had better luck with the next
provider. This taught me not to give them all my money up
- "They wanted me to pay $10,000 to
build corporate credit in leasing a $20,000 automobile. Let me
ask you this Einstein, 'Isn't it better to place $10,000 down on a
$20,000 car and build corporate credit that way? I just don't
get it. And they wouldn't make any promises for that $10,000.
The way I look at it, if I need to promise $10,000 then you better
promise me something in return."
- "The provider wanted $35,000 for a
ten year old corporation and corporate credit building. When I
asked to place the money in escrow until the financing went through,
they said no. I was smart not to put up the money. They
were claiming $300,000 in possible financing but wouldn't nail down
a guarantee. They said it was up to the lender. Fine,
then it's up to me to not give you $35,000.
Build credit now:
Email for the list of available shelf companies.
109 EAST 17TH STREET, SUITE 25,
CHEYENNE WY 82001
OFFICE 307.237.2580, FAX