How to Build Separate Business Credit for Your PracticeDoctorBusinessCredit.com (c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Famous Credit QuotesRemember that credit is money – Benjamin FranklinThe most important thing for a young man is to establish credit – a reputation and character. John D. RockefellerIt is only the poor who pay cash, and that not from virtue, but because they are refused credit. – Anatole France(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Business Ethics & CreditThe word “ethics” means a set of moral principles, discipline dealing with what is good and bad and with moral duty and obligation.Business owners have a great responsibility to conduct business in ethical and best practice methods.(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Business CreditMost creditors and lenders require you supply them with your own personal guarantee for anything you do for the business. This means if anything were to go wrong at work, they come after your personal assets also. What they don't want you to know is that you CAN easily obtain money for your business without offering this personal guarantee. (c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Business CreditBusiness credit is credit obtained in a Business NameWith business credit the Business builds its own credit profile and credit scoreWith an established credit profile and score, the business will then qualify for greater creditThis credit is in the name of the business and based on the business’ ability to pay, not the business ownersSince the business qualifies for the credit, in some cases there is no personal credit check required from the business owner(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Business Credit vs. Personal CreditPersonal credit scores range from 300 to 850 with scores of 720+ being considered excellent. Some of the business credit scores range from 0 to 100 with scores of 75+ being strong.There is a lot to learn to be able to optimize high credit scores quickly.Our goal for your business is optimizing strong business credit scores. (c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

EIN vs. SSNWhether you have employees or not, your business entity must have an Employer Identification Number (EIN) Just like you have a Social Security Number, your business should have an EINYour business tax ID number is used to open your bank account and to build your business credit profile(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

The Steps to Building Business CreditA business starts building a brand new credit profile much the same as a consumer doesThe business starts with no credit profileThe business gets approved for new credit that reports to the business credit reporting agenciesThe business uses the credit and pays the bill timelyA positive business credit profile is establishedAs the business continues using the credit and pays bills timely it will qualify for more credit(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Business Credit Scoring Business credit scores are based also on whether the business pays its bills on timePayment is made before invoice is sent to business 100Payment comes within early discount period 90 Payment is prompt 80 Payment comes 14 days beyond terms 70 Payment comes 21 days beyond terms 60 Payment comes 30 days beyond terms 50 Payment comes 60 days beyond terms 40 Payment comes 90 days beyond terms 30 Payment comes 120 days beyond terms 20Unavailable (c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Step 1- Build Business Credibility The perception lenders, vendors, and creditors have of your business is critical to your ability to build strong business credit. Before applying for business credit a business must ensure it meets or exceeds all lender credibility standards. There are over 20 credibility points that are necessary for a business to have a strong, credible foundation. (c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Corporate Entities You can build business credit with almost any corporate entity typeIf you truly want to separate business credit from personal credit your business must be a separate legal entity not a sole proprietor or partnership Unless you have a separate business entity (Corporation or LLC) you might be "doing business" but you are not truly "a business“You need to be a Corporation or an LLC in order to separate personal from business credit(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Important DetailsBusiness Address Must be a real brick-and-mortar business building. Cannot be a PO Box or a UPS address. (c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Important DetailsYou must have a dedicated business phone number that is listed with 411 directory assistance, under the business name Some lenders will not approve and fund unless all the criteria is met specifically to their requirement.(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Important DetailsLenders perceive 800 Number or toll-free phone numbers as a sign of business credibilityLenders perceive a credible business as one with a fax numberNot having a company website will severely hurt the chances of obtaining business credit(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Important DetailsAvoid using free email services like Yahoo and Hotmail The date you open your business bank account is the day that lenders consider your business to have startedYou will need to contact the state, county, and city government offices to see if there are any required licenses and permits to operate your type of business (c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Additional Credit Building DetailsTax Returns: All applicable business tax returns must have been filed Public Records: There can be no liens, judgments, or lis-pendens against the business Business Model: A summary of your business plan with revenue projections(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Step 2- Business Credit ReportsBusiness credit reports are offered by Experian, Equifax, and Dun & BradstreetSet up your business credit “the right way” with each business credit reporting. Doctor Business Credit can help with proven methods which have been used by thousands.(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

The Big 3 Agencies In A GlanceExperian is the most open and accessible. You can easily buy your business report online and there is no fee for setting up your file. Experian Smart Business Reports is used by many credit card companies, vendors, non-traditional lenders, and banks. Our program gives you free access.Equifax also allows business owners to purchase a copy of their reports online but is typically the most difficult to establish a file with. This is mainly because their requirements on the vendors and credit providers who would report your payment history are more demanding than Experian or D&B’s. Equifax manages the “Small Business Financial Exchange” and is important to cash lenders such as banks. Dun & Bradstreet assigns businesses at D-U-N-S number and a “rating”. These are critical components of the process. Along with some conventional business lenders for underwriting, D&B is used by many vendors to determine if they will extend your business net terms, and landlords use them to approve office leases. We also provide your dubs number which would cost you $799.(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

ExperianVisit http://www.smartbusinessreports.com/ for a copy of your Smart Business ReportFind out how many trade lines are reporting,Check if you have a business credit score assigned, Check if you have an active Experian Business Profile, and Check on recent inquiresGet a Smart Business Report(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

EquifaxYou can purchase a copy of your Equifax Small Business Credit Report here http://www.equifax.com/small-business/credit-report/en_sbIt is important to work with the credit providers who help and work with you to build your credit the fast way, not just report what is necessary.(c) Copyright 2013 www.doctorsbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Dun & Bradstreet DUNS NumberObtaining a Dun and Bradstreet number (D-U-N-S #) begins the process of building your business credit profile with themYour D-U-N-S # will also play an important role in enabling your business to borrow without a personal guarantor.http://www.dnb.com/$299 - $699 per DUNS Number(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Step 3- Building Business CreditA business credit report can be started much the same as a consumer credit report, opening with merchant credit cardsA vendor line of credit is when a company (vendor) extends a line of credit to your business on "Net 15, 30, 60 or 90" day termsYour business needs to have a total of at least five (5) Net 30 day pay accounts reporting(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Keep Up with Corporate RecordsMake sure your business is registered with the state as a legitimate company and in compliance by having: Articles of Incorporation, Corporate Minutes, Corporate Resolutions, and List of Officers. Keeping up-to-date corporate records is legally required and you must file every year to stay in good standing. If you don’t, you’ll be throwing away all the liability protection and other benefits that a company is entitled to receive. (c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Step 4- Revolving AccountsAfter the business has established numerous trade lines, it will be able to start getting approved for revolving business credit accounts.Trade lines create the required history for a company.Businesses need several cards with 10K limit.Do not link personal credit to business credit. These accounts normally report to Experian, D&B and sometimes Equifax. Make sure they report the right way to all. Not all companies report to every agency.These accounts will help build business credit, due to their reporting methods, on a larger scale than just the Net 30-day vendors alone.(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Locate Merchants Who Do Not Request Your SSNMost merchants and major retailers offer business credit, they just don’t advertise itThere is no benefit to the merchant to promote credit with no personal liability if the business owner is willing to take on that liabilityMerchants don’t promote their business credit cards regularly, they ask for the owner’s SSNWhen applying, the owner should know the information that merchants check to provide higher credit limits Without projecting the perfect image of their liking you get low limits or no credit at all(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Revolving Credit CardsThe business needs a high credit score and a perfect credit file to receive a high credit limit for a Visa or MasterCard. Find out all requirements before applying. We never let our clients apply unless we know they will be approved. Too many inquiries reflect desperation and slows the process. Get approved for higher limit cards $10,000+Obtain multiple Visa, MasterCard, AMEX and continue increasing credit limits. (c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Keep Business & Personal Credit SeparateMake sure you separate business credit from personal credit. As soon as you provide your SSN, the business and personal credit is merged.Most merchants and major retailers offer business credit, they just don’t advertise it.There is no benefit to the merchant to promote credit with no personal liability if the business owner is willing to take on that liability.(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Credibility PointsThe perception lenders, vendors, and creditors have of your business credit is critical to your ability to build strong business credit. Before applying for business credit, a business must ensure it meets or exceeds all lender credibility standards. There are over 20 credibility points that are necessary for a business to have a strong, credible credit foundation. (c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Establish Business CreditDoctorBusinessCredit provides business advisors who can guide you to make sure you get the most amount of credit in the list amount of time.(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.

Creating Your Business Credit Gives Stability and FreedomHaving an excellent business credit score greatly adds to the overall value of your business.Your business’ value and borrowing power will greatly improve as your business credit score increases.(c) Copyright 2013 www.doctorbusinesscredit.com All rights reserved. This material may not be published, broadcast or written without our permission.