Dramatic Changes with the Business Credit Bureaus has Changed How NCP Sets up Entities. You will Discover What You Must have in Place to Put Your Business in the Best Position to Secure Vendor and Cash Lines of Credit.

All Business Credit Updates will be Revealed in a One-Time Only FREE
Teleseminar on June 22nd!

You will Learn of Important Updates for Business Credit Cards and Business Line of Credit and How to Secure More Capital for Your Business!

Dear Business Owner,

Recently, there has been some dramatic changes in the business credit bureaus and other important updates with financing games/scams to get small business owners involved in hype and hope when their business desperately needs real support.

Copy and paste the URL below into your browser and select
your enter key to  register for this powerful teleseminar
(space is limited):  http://budurl.com/CreditUpdates

I will cut through the BS and give you what is working on June 22nd in an hour packed FREE teleseminar to help you understand your options to gain access to financing for your business (whether you are brand new or have been in business for 10 years).

On this important teleseminar you’ll learn:

• Updates by Corporate Experian® and what database they are developing reports on your company without your knowledge (plus what you must do to position your business for the best results).
• When the merchant account cash advance can put you out of business and when it may be your only and best option.
• Low personal credit score? Discover what your options are to get your business cash fast!
• What is new with banks? Are they really lending more money to small business owners?
• When NEVER to buy a shelf corporation.
• Is there such a thing as a cash advance on your daily sales (less credit cards)?
• What is working with using your retirement money for financing your small business.
• How many companies actually report to D & B® and what are the odds your vendors don’t and how to get around that.
• Discover the power of a direct data feed to the business credit bureaus to build your business credit profile in record time!
• How your personal credit score influences the bank’s decision to give you a line of credit!
• The importance of a business compliance check BEFORE you set up your D & B® account! (What costly mistakes must you avoid?)
• The difference between D & B® and Experian® Business Credit, and what you must do differently to maximize each!
• The biggest reasons that business owners fail to obtain business lines of credit Only the most successful business owners really accept full accountability, and this area is no different for success
• And much, much, more….

Copy and paste the URL below into your browser and select
your enter key to  register for this powerful teleseminar
(space is limited):  http://budurl.com/CreditUpdates

4 Critical Reasons to Separate Business Credit (in your entity)
from Your Personal Credit:

1. It is how your business will be evaluated for business and joint ventures. You may be losing clients, bids, vendors and joint ventures without even knowing about it. Why? The best way to check out a companies financials is to invest $40-$130 with Dun and Bradstreet®  to pull a report. This will tell you everything you need to know about someone’s business. Most of you will NOT like what will be seen on your report. FYI, an 80 Paydex score will not cut it.

How do You Feel Standing Financially Naked in Front of Your Customers? Now it may be time to fix that and put your “financial clothes” on.

2. Whether you like it or not, Corporate Experian® is NOW creating profiles on companies through the SOS’s database on new filings. This means a profile is being created and you do not know what it will say to your potential customers (unless you know how to develop it properly).

3. Develop vendor lines of credit to protect your cash flow AND put your business in a better position to secure CASH LINES of credit to grow your business. As you know the banks have raised the bar dramatically on what is required to secure a bank line of credit (one key component is the amount of vendor credit granted to your business-not just an 80 Paydex score).

4. You will protect your personal credit (whether it is good or bad) from your new business. If your personal credit is strong, you will want to minimize personal guarantees with vendors that may jeoparize your personal credit plus develop cash lines of credit in the name of the entity under the EIN number (yes, it is personally guaranteed but the debt will not show up in your personal credit bureaus-which will help protect your personal credit score.

If you have a bad personal credit score, you MUST develop your business credit profile to put the business in a position to qualify for credit on its own!

The Biggest Mistake? Waiting to develop the business credit profile until you need the vendor or cash lines of credit. If your business is doing well and you feel you do NOT need the credit, that is the best time to develop it.

Avoid costly mistakes and discover your best options on Tuesday June 22nd at 4 pm PDT!

Your Host: Scott Letourneau, CEO of Nevada Corporate Planners, Inc. and Fast Business Credit, Inc. You will learn from Scott’s diverse expertise and his comprehensive and ever-growing list of powerful business resources.  These are the very elements that have allowed his 5,000+ clients both domestic and abroad to incorporate their business with confidence, “propelling their
business on a fast track to profits!”
Scott has a BA in Finance, and is the author of “The Insiders Guide to
Incorporating Your Business and Protecting Your Assets!” He is also a
contributing author for the new book from Entrepreneur Magazine’s
Start Up series; “Start Your Own Information Marketing Business – Your
Step-by-Step Guide to Success.”
Copy and paste the URL below into your browser and select
your enter key to  register for this powerful teleseminar
(space is limited):  http://budurl.com/CreditUpdates

This may be the MOST IMPORTANT TELESEMINAR of 2010 for your financial future. Register now at http://budurl.com/CreditUpdates

Dedicated to Your Success,

Scott Letourneau
CEO
ncp@nvinc.com

Nevada Corporate Planners, Inc.
Fast Start to Profits™!
7477 W. Lake Mead Blvd. Ste. 170
Las Vegas, NV 89128
(888)627-7007; (702)367-7373
Fax: 702-220-6444
www.nvinc.com
www.FastBusinessCredit.com

Visit our Blogs at:
www.FastBusinessStartUp.com
www.FastBusinessCreditSecrets.com
www.ScottLetourneau.com

Follow our CEO Scott Letourneau on:
www.Facebook.com/ScottLetourneau
www.twitter.com/SJLetourneau
http://www.youtube.com/ScottJLetourneau

P.S. Register for this one-time only June 22nd Teleseminar and discover the most important business credit developments and updates at 4 pm PDT!

Copy and paste the URL below into your browser and select
your enter key to  register for this powerful teleseminar
(space is limited):  http://budurl.com/CreditUpdates

This is the ideal time (before it is too late) to really develop a business credit profile with your business. Hopefully, you have formed a separate legal entity and are not operating as a sole proprietorship. If you want to be in a position to secure credit, properly building your business credit over the next 4-6 months may be key to your small business survival.

You can now obtain an incredible resource for free, go to www.FastBusinessCredit.com and download the 41 page report that will help your small business secure credit. Questions? Call Fast Business Credit, Inc. today at 1-888-313-6333.

Most small businesses are self financed. According to SCORE (Counselors to America’s Small Businesses) there are two groups of businesses that are looking for financing: start-up business owners, and business owners that have been in business for on average three years. SCORE and SBA (Small Business Administration) focus on helping the second group. Unfortunately, there is very little help for the first group… until now.

(Though in our recent meeting, SCORE expressed great excitement about our education program for small business owners and how banks lend money….)

Why is financing so crucial to small business success? The number one reason small business owners go out of business is lack of cash flow. There are many situations leading up to that failure, the main one being inadequate capitalization and access to additional capitalization — key access to cash.

What steps must you take to move your business up the business credit financial ladder™ in order to self finance your success?

Step 1: Incorporate your business from Week One. Do not wait to “see what happens,” thinking that in three months, when you have more money, you can incorporate (or form an LLC). This mistake may actually cost you access to additional capital to run your business. Why? Two words:  revolving debt.

When many people start a business, they primarily use their personal credit cards to finance the business.  Suppose you charge up your personal credit cards and your revolving debt (vs. installment debt, for example, the mortgage on your home).  You then incorporate or form an LLC for your business 3-6 months later, and apply for a simple business credit in the name of that entity.  It’s highly likely that you may be rejected, or be approved for a far lesser amount then you would have received had you incorporated in Week One.

The key is to keep your revolving debt below 30% and incorporate your business, apply for a business credit card, and start using that credit to finance your business. Yes, it is personally guaranteed… but the debt will not show up on your personal credit report (unless you miss a payment, so do not do that!). Now you’ve put your business in a position to get off to a fast start and you’ve protected your personal revolving debt, which is a key component in any other type of financing you do in the future!

Step 2: Set up a merchant account for your business. Very few businesses do not accept credit cards. They know that they must make it very, very easy for someone to do business with them. Why make it hard for your clients to buy from you?  This will come into play in about 6 months as an important lending source for your business, if necessary.

Step 3: Do you need equipment for your business? Consider an equipment lease vs. using your cash to purchase.

Step 4: Do you have vendors where larger credit lines would be helpful? This is usually not the case with home-based businesses or online businesses, where the overhead is very low. Usually a brick-and-mortar-type business requires vendor trade lines of credit with business supply stores, gas cards, and other vendors. Again, a $40,000 line of credit at a supply store is not going to help a home-based business. They need cash.  If this is the case, you will want to focus on a business credit program to develop your D & B and Experian Business Rating initially.

Step 5: Keep your revenues high, show a small profit each month if possible, control your personal spending, credit score (In other words don’t quit your day job before your business is up and running.)  Get yourself in a position 6 months to 1 year ahead of time for a business line of credit. If your personal credit score has issues, that should be addressed as you start the business in anticipation of future financing needs, 3-6 months from now.

About two years ago, I worked with a national bank to break down their lending process for start-up business owners. As you know, banks do not educate you on how they lend money.

The process would be that you would receive an application and it goes to underwriting. That is where the criteria are held mostly in secret. You may hear about general criteria to apply for a business credit card, business line of credit or a business loan, but you will not receive the exact formula!

Here is a list of the key questions to ask your banker when you apply for a business credit card in the name of your new LLC or corporation:

1. What is the lowest my credit score have to be to get approved for the highest credit card limit?

2. When you pull my credit score which personal credit bureau do you pull my score from? It is Experian®, Equifax or Transunion®? (keep in mind it may be different if you were applying for a business line of credit or a loan).

3. What does my personal revolving debt ratios have to be at to qualify for a business credit card?

4. What are your current derogatories that would cause me to get automatically rejected by your bank? In other words, a bank will reject you for a bankruptcy, foreclosure, excessive late payments and large revolving debt settled in the past.

You will receive resistance when you ask these questions because the bankers are not used to working with an educated small business owners. Be persistent and ask them to check with their underwriter and get back to you!

Now, you will be in a better position to find out if you have a shot at receiving financing help from the bank!

Yes, banks need to lend to make more money, but they need more deposits first. Plus they need to put the breaks on losses.

Even after the sub-prime disaster, the banks are still having record foreclosures with people who did not get hit with an adjusted ARM, but simply lost their job or went out of business and are unable to pay the mortgage.

Now, consumer debt is at record levels and the banks worked hard this last year to jack up your interest rates and fees on your personal credit cards. Now that is coming to an end, so the bank loses on credit cards, at $28 Billion in 2008 is expected to be over $100 Billion in losses in 2009! That is an extraordinary loss for the banks.

The banks want to protect their downside just like they did with the HELOCs a couple of years ago when they started to cut limits on your open lines of credit because of declining home values. The same is happening to your personal credit cards. Even if you pay your bills on time, have a good credit history, the banks will show up and cut your limits. If you had a $10,000 credit card with only $3,000 of debt, which is a 30% revolving debt ratio on that card which is very good, now the bank cuts your limit to $3,500 and all of sudden your revolving debt ratio on that one card is 86%! This is happening every day without warning! The banks are attempting to limit massive losses on consumer debt.

What does this have to do with business credit? Everything! As you know a major component for your LLC or Corporation to secure cash lines of credit from the bank in the form of a business credit card or business line of credit is your personal credit and your personal revolving debt levels.

The next part is your personal credit score. The key with bank lines of credit is to find out which credit bureau the bank will pull your credit score from. Especially, when applying for a business credit card, 95% of the test is your personal credit score and your revolving debt. The fastest way to jack up your credit score in a 90 day period is to pay down your personal credit cards ideally to a 20% ratio on all of them. If you have five personal credit cards that means each card individually would be at 20% or less in debt to credit ratio. This will give you the biggest jump in your personal credit score over a 60-90 day period of time.

The problem with that is if you do not really need a big boost in your credit score and you take your extra personal cash to pay down your credit cards it is likely the credit card companies may cut off your limits as mentioned earlier and automatically jack up your revolving debt again. That is why it is very important to work on an emergency personal fund (ideally 8 months of your monthly personal expenses) saved up first. This is a balancing act unlike ever before.

You may have heard a lot about the SBA, the 7A loan, 504 and micro loans, you still have to be an eligible borrower. You still have the bank as the first step (the micro loan is through non profit community based lenders). Even if it appears you will meet the SBA’s criteria for a loan, the bank may have multiple other criteria that more than likely a struggling business will not qualify for. Since the banks are so tight their lending requirements are very high, even for an SBA backed program.

The bottom line is that this is not good news for you. As George Ross, the attorney for Donald Trump, said, the time to borrow money from the bank is when you do not need it. The same is to be said for building business credit. Do not wait until you have exhausted all resources. Today, you must improve your personal credit score, keep your personal revolving debt low, be on a comprehensive personal and business budget, and work on the profitability of your business. Even with a bankruptcy or foreclosure a business credit builder program that works with D & B  and Corporate Experian® will do a lot to get your business trade lines of credit and after about 4 months business credit cards under the EIN number only (with no personal credit checks)!

If your monthly credit card sales are consistent, and you average around $10,000 per month and you have been in business for 8-9 months then your business may qualify on a merchant account cash advance. It is 90% based upon your business sales, and less on your personal credit and profitability. We have the best resource for this type of advance if needed. Keep in mind as you can imagine this type of advance is short term, usually 6-8 months to pay back, and comes with the highest factor.

The key with any type of business credit support is what will you do differently once you get the money? How will you utilize your money and implement better marketing tools to grow your business. I find that most are missing this last piece. Let’s face it, a bad business model with more money will only delay the inevitable slightly longer unless there aren’t major changes.