First: I would like to thanks Financialsk for giving me the opportunity to write about credit cards business issue. It is my honor to contribute the readers with my expertise over many years of experience in credit cards and finance matters.
Since we live in a credit society, it is just obvious that when we buy house, car, and even personal good as we live day by day, and for the future.
We all familiar with Loans such as: mortgage loan, car loan, school loan, personal loan, etc, All these loans have one common: they called conventional loans.
I would like to show you a different way of “Non Covet ional” loans use for business only!
One method of business capital resources, I have use for more then twenty-one years is the: business credit cards or as I name my book: “Credit Cards Finance System”. I’m so convinced that people with good discipline can use business credit cards for a good cause, mainly to build a healthy small business. In the next articles we will give you some ideas: how to benefits your business. In order to understand how: to obtain business capital in a “Non Covet ional” loan.
We all need capital at one point of time to use in almost any business. For instant: start up business, expending our business, slow time business, and most vital to have cash in hand to keep our business in perfect operation condition.
But before you think you know it all, take a moment to do some homework. If you own a small business or thinking about opening your own business check some items such as: your credit report. Is your credit report so important to you? Or to your business? Most likely yes, it is a vital aspect you should consider before taking any finance step.
Another item to consider are: how to get the capital for low interest rates. How to avoid commission, and other fees. And of course think how you repay your loan in a timely safely manner.
When you looking for capital, your main objective is to make more money out of this money. That is the nature of any business seeking capital. At the same time the lenders are motivated to lend you the money to make profits for your business. A good business plan is another item you should consider, and how to use the money.
What are Business Credit Cards
Unlike personal credit cards, business credit cards are strictly used for business. Business credit cards are design to give your business benefits you don’t want to pass.
Business credit cards are lucrative as a finance tools with many benefits to name only few:
First: And most important figured are: its help your business establish credit rating record which is vital aspect for your business future.
Second: Business credit cards have larger credit line then personal credit cards. That by it self are: major factor when working with business credit cards.
Third: Management for accounting and tax advantage. This factor alone will help you centralize all your legitimacy company expenses.
The usage of business credit cards can be use for: cars refueling, ordering goods, taking lunch orders and more.
The other usage of this cards are: finance any business needs, such as equipments purchase, cash advance, business usage instead of personal use for tax purpose, employees expenses accounts, employees medical benefits usage, traveling assistance, and much more.
In order to open business credit cards you need to have your company credit history with: D&B® (Dun and Bradstreet®) credit reporting agency.
The creditor will open for you an account with ID number in this business credit-reporting agency.
While your company has a business credit history reporting, this factor will help you conduct government contracts opportunities. That is how the government conducts credit check with most small businesses in US.
It will also help your business with costumers and suppliers when your business gets credit line from lenders.