Scalable Real Estate Investing
Scalable Real Estate Investing
#28 Unlocking Business Loans Not Tied to Your Personal Credit with Stephen Wible
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Stephen is a Marine Corps veteran with a deep background in real estate sales, flipping, property management, and building business credit. He’s director of business development at Credit Suite, Inc., author of Business Credit - The complete Step-by-Step Guide and is an expert in teaching business how to build credit and obtain loans not tied to your social security number.
Helpful Links:
creditsuite.com/reports
Episode Highlights:
- Most companies you transact do not report to the credit rating agencies unless you specifically ask them.
- Business credit can be a powerful tool to unlock hundreds of thousands of dollars of non-recourse debt that’s not tied to your social security number.
- Experian business, Equifax business, and Dun & Bradstreet are the 3 primary business credit reporters.
- Most business credit cards marketed as business cards, are actually directly tied to your personal credit score, being no different from a personal, non-business credit card (i.e., it doesn’t build your business’s credit score).
- It is often possible to go from a credit limit of $1,000 to as high as $250,000 within one year
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