Use shelf corps to get ahead in the credit journey
Building a successful business does not happen in a day. There are a lot of battles that you have to fight and win. Funding is one of the first things that you will need to get right. If you have funds from your own sources, family, friends, or investors, you are among the lucky few. You should take advantage of that and push on with your plans like no tomorrow! For others who are not so fortunate, credit from financial institutions is often the only source that you can hope to obtain. We say this because approval is a meritocratic process, and your credit application is usually judged on its merits. That means if you prepare well, you have a fighting chance for securing that approval. In this article, we will discuss the credit process and how you can succeed in your quest for financing.
The credit process gets speeded up with shelf corps
Accessing the right amount of credit for your business is a gradual process with several steps. The first step is to buy a shelf corporation and then open a bank account. We know about this as we have helped scores of people achieve their goals by purchasing shelf corps.
You, of course, need a good credit profile if you want to get a business loan, and if you do not, then you have to follow an entirely different process. We will not discuss this aspect in this article, but you are welcome to visit our blog for more details.
For your business, you need to start transacting as soon as your bank account is opened. The reason for this is that you need to be allotted a DUNS number by the Dun and Bradstreet agency. That will happen only when you start making and accepting payments. When the data of your payments start reaching the agency, it awards you a score, which reflects your payment practices. If you pay your creditors well within the agreed time, you will achieve a good score, it is as simple as that! This is a crucial metric for banks and credit unions, and without it, they might not even process your application. The name given to it is the paydex score, and the question that most entrepreneurs have in their minds is how to get an excellent paydex score fast? Well, our specialized advice can help you get the score in a short time of 45-60 days!
