BOSS Business Credit Program

Building Business Credit for Your Business

6 Step Business Credit System

If you want business funding, you need to follow a system. The BOSS Business Credit Program includes an online back office that will literally hold your hand through a 6 step system. Our back office is integrated with all 3 major business credit report bureaus including Dun & Bradstreet, Equifax, and Experian. You will also be assigned a business credit coach who is an expert at the online back office. For some, this will be a long term process that may take over a year. The typical client, should expect to complete the 6 steps in approximately 120 days and then to continue to work with the back office and maximize business funding opportunities.

Here are the 6 steps at a glance:

Step 1: The Foundation

In this step you will verify how the business lending community sees your business. Everything from tax identification, banking and agency listings is verified prior to moving to the next step.

Step 2: Your Fundability

The back office walks you through a series of questions to determine your business fundability and makes recommendations for various initial level 1 and 2 funding opportunities.

Step 3: Credit Agencies

This step works on your business credit profile with Dun & Bradstreet, Equifax and Experian. Make sure your business has a file and they the information is accurate. You will begin the process of building excellent business credit.

Step 4: Vendor Credit

You will be seeking 5 vendor reporting tradelines. Of the over 500,000 vendors who extent credit, less than 6,000 report to the business credit bureaus. You will have funding opportunities with reporting vendors to help build your business credit scores and give you access to vendor credit.

Step 5: Business Credit Cards

A revolving credit account is one where you can make minimum payments on a monthly basis. You will be given access to various business credit cards that report to the business credit bureaus along with the guidelines for qualifying. These are not “business credit” in disguise; these are business credit cards that will verify that your business has been in existence for a period of time and has a minimum number of reporting trade lines. You must complete Step 4 before embarking on this step.

Step 6: Bank Credit and Other Funding Programs

Once you have completed the first 5 steps, it will be time to explore other funding opportunities including traditional SBA loans, bank lines, equipment leases, receivable factoring, merchant account advances, angel financing and purchase order financing. In other words, once you have established your company, its business credit and its history, you will learn about all sorts of companies that lend to such established businesses.

Some lenders are professional specific (for example, doctors, dentists, lawyers, engineers, etc.) while others are industry specific (buying real estate notes or receivables). Others, like SBA loans, have programs that you can apply for. The trick is knowing what they are looking for and having relationships with the lenders who will work with your to make sure your business qualifies.

This is a synopsis of the 6 steps to building business credit system. You will be walked through these steps if you should decide to participate in the BOSS Business Credit Program.

Learn About Our Business Credit Packages »