How Your Bank Credit Score is Calculated

what's up Facebook ty crandall here with

credit suite and today we are wrapping

up our training on credit scoring so

we've talked about consumer credit

scores a couple weeks ago then last week

we talked about commercial credit scores

we talked about how business credit

scores work how your corporate credit

scores that are linked to your business

ìin actually work today we're talking

about our third type of credit which is

called bank credit we're gonna be what's

up Michael thanks for coming in good


so third today we're talking about bank

credit we're talking about the third

type of credit that you have that mostly

nobody knows about

so most people almost everybody's

familiar with consumer credit right you

know how that is you know how it works

now especially if you've tapped into our

training and now if you're following us

you're probably becoming more familiar

with business credit your understanding

that your EIN has its own credit profile

its own credit score and now you

understand per last week how your

business credit scores work that are

linked to your EIN here's what you might

not know you have a third type of credit

and it's called bank credit it's also

called a bank rating this is a credit

score you'll never see you'll never even

know exactly what your bank rating is

because banks don't publish it it's an

internal score that banks use to

determine if you should be issued a

business loan but here's what's

important if you ever and I mean ever

are going to go to your bank to get a

business loan you need to know what this

is you need to know how this works

because your bank rating will determine

if you will get approved and the rates

in terms that you'll pay thank you guys

very much for the loves thank you very

much Michael Moody and seven others

thank you guys for sure and I appreciate

it so today we're going to decode this

thing because this is something and mr.

Alex Freese just arrived you could tell

with all the crazy likes going across

the screen so the bank rating is

something you really need to know about

because if you're ever gonna go in and

get a business bank loan this is gonna

be what's used to determine if you'll

get approved the rates in terms that

you'll pay it's the third type of credit

you have and today we're gonna decode it

so if you missed our previous training

go to credits where go to

facebook-dot-com forward-slash credit

suite grab our consumer training on

credit scoring grab our business credit

training on credit scoring that we went

over in the last

two weeks and you'll know exactly at

your consumer in your commercial credit

scores work and today by the end of this

livestream you're going to know how your

actual bank credit scores work so if

you're ever going to get a bank loan

there's some things you could do right

before you go in to apply to make sure

you have the best chance of getting

approved so let's take a look so here's

the whiteboard that we've kind of been

going over here whoa clean my office and

moved all my stuff is this going to be

my kids what happens you like kids in

your office they take all of your

markers and they draw kind of crazy

things on your board like this right

here okay so this is what we've went

over the last few weeks right we've got

consumer credit scores we went through

broke that down I'm not gonna go through

that with you again we're gonna go

through with you bank credit scores we

talked about how with consumer credit

scores there's a bunch of things that

factor into your score making a harder

to control many years a well-disciplined

borrowing to get this right like you

want to with business credit score's is

much easier as we've talked about

business credit scores are based on

primarily how you pay your bill you pay

your bill prompt or on-time you get a

good score you pay it early you get a

better score same thing here with

Equifax and pretty much the same thing

with the experience the bottom line is

in cash shana there Kasana thank you

very much for sharing it thanks

everybody for coming and sharing I

appreciate it so business credit score's

much easier to get good scores because

all you have to do is get some accounts

that report to Equifax D&B an experience

pay your bills agreed and that gives you

good scores so much easier to establish

good business credit scores guys this is

why it's so fast to build business

credit because if you come in as we

talked about it you get a couple of

these little trade vendors here and then

these guys report to the reporting

agencies so you get a Uline account you

pay your bill on time as agreed get a

quill and a monopolize your market place

and you pay them as agreed and they

report it to these guys then all it

takes is those reporting's with good

payment history to go to get the score

so fairly easy to control your business

credit scores it just comes down to how

you pay today we're talking about bank

credit now bank credit is very unique

this is an internal credit scoring

system it's only

available conventional banks of banks

use this and they use it to determine if

you'll be issued a business loan or not

so if you ever want to walk in to get a

business loan you need to know this now

then here's why this is so important so

many people come to me and say hey

listen I got a good 80 paydex score I

have a good business credit score and I

say so what that only means you pay your

bills as agreed if you want to walk in

your bank and get a loan you need to

know your bank credit score because your

bank credit score your business credit

score and your consumer credit score are

all going to be used to determine your

approval for a bank loan so even if you

establish your business credit

congratulations you can get 10 20 30 40

$50,000 individual limit credit cards

but as you take that move from credit

cards and credit lines to loans and you

start to walk into your bank it's a

whole other world then you've got to get

your consumer credit in line you've got

to get your bank credit in line to have

a chance of getting approved which is

why what we're talking about so

important Veronica welcome thanks for

coming in see our publishing LLC thank

you very much for sharing it it says 9

others been I've give a shout out to

everybody that shares it that it shows

me it does thank you and Alex thanks for

going crazy Alex ok so here's how the

bank credit score works now just like

with business credit it's primarily

based on how you pay your bills with

thanked credit it's primarily based out

of how much money you have in your bank

account so a low five right here a low

five a mid five or a high five or

lendable these are three where you can

get a bank bank loan if you are a high

four mid for love for you will not get a

bank loan from a conventional bank if

you try to get one for your business so

basically it comes down to how much

money you keep in your bank account if

you have ten thousand or more you will

have an acceptable bank rate now it

doesn't have to be permanent over the

last 90 days so I'm gonna give you a

hack here that's gonna help you so for

example if you want to get a bank loan

and you keep ten grand on average in

your bank account you're gonna have a

low-fiber rating and you're gonna be

lendable you're not going to be as

lendable as a high five rating but

you're still going to be lendable if you

keep forty to seventy thousand basically


count your a mid 5 rating if you have a

high 5 rating than your 70,000 basically

plus in your bank account so if your

business bank account has these kind of

balances over the last 90 days that's

what gives you an acceptable bank rating

now let's go the other way if you're 7

to 10 grand you're a high 4 but that's

not lendable at a bank 4,000 to 7,000

average in the bank isn't lendable and

1,000 to 4,000 is low 4 if you're less

than a thousand you don't even have a

rating you're below a low 4 so the

bottom line is with Bank ratings your

internal bank credit score that's used

by conventional banks to rate if your

business should be given a business loan

here's how it works pay very close

attention guys you can look on Google

you will not find this info it's not

published so the bottom line if you're

going to get a business loan the more

money you keep on average in your bank

account over the last 90 days the better

chance you're going to have a getting

the loan 10,000 is a bottom threshold

for the low vibrating forty thousands

the bottom threshold for the mid five

seventy thousand is the bottom threshold

for the high five rating the highest

rating you can have here's the great

news the main factor that's used to

determine your bank credit scores based

on one thing and one thing only how much

you keep in your bank account here's the

bad news if you had a bunch of money in

your bank account

I don't know you probably wouldn't be

going to get a business loan right yes

so here's what you need to know 90 day

average is what this is based on so the

key here is that if you're gonna get a

business loan if you're gonna go into

your bank and apply for a loan make sure

you have as much in that account

90 days before and keep as much in the

account 90 days before as you possibly

can to get approved so let me give you

an example there's all kinds of

alternative financing out there for

example we offer an unsecured business

financing program works for startups no

documentation required where somebody

can get 50 100 even 150 thousand in a

real usable money well let's say that

you want to get this you get 0% for 6 to

18 months working capital credit line

great program let's say you're gonna go

in to apply for an actual bank loan well

maybe you get a program like this get 50

grand put it in your business bank

account and just have

sit there for 90 days that way you're

paying 0% on it anyways

that way your bank rating is as high as

it possibly can be 90 days later your

chances of getting the business loan are

much better and all you've done is

basically get the money put it in the

account that's the beauty here this

isn't like a mortgage where the funds

are seasoned where they have to know

where the money comes from they don't

with a bank rating all they care about

is that you've got the money in the bank

account and over the last 90 days how

much money you keep in your bank account

will ultimately determine your bank

rating so again a lot of things to keep

in mind most importantly keep as much

money as possible in your bank account

90 days before you apply even if you

need to go to an alternative lender or

credit line and borrow the money to put

in the bank account to give you a higher

bank rating to help you get the business

loan it makes sense it's good strategy

so something to keep in mind now there's

more to this than just the value keep in

the actual bank account and Maurice it's

good information I appreciate that and

Jimmy thank you very much for sharing

Farris thank you for sharing Newton

Negus I hope nigga's Royce wheeler I

don't know if I pronounced your first

name right and thank you very much for

sharing so your bank credit score

primarily primarily based on how much

money you keep in the bank account

you want to keep at least 10,000 in

there if you keep forty or seventy it's

even better the higher the five rating

you can get the more lendable you'll be

but there's other factors that tie into

this as well so 90-day balances

definitely number of non-sufficient

funds basically what they want to see is

that you're not over drawing the account

so this really has to do with positive

cash flow if you think about it they

want to see more money going in the bank

account than what's coming out of the

bank account if you've done this you've

got positive cash flow you don't have a

bunch of non-sufficient funds cuz you're

keep carrying a balance and again you're

carrying the balance I hire the balance

the higher the score they also want to

see consistent deposits so for example

if you're a retailer they're gonna like

you better than if you were a real

estate agent real estate agents only

have two or three big deposits a month

maybe and as a retailer you probably

have the pie

it's going in every single day so the

number of the consistency of your

deposits matters into your bank rating

how long you had a bank account matters

and your bank rating as well this is why

I tell people look when you set up a

business the number one thing you do is

get your entity set up with Secretary of

State number two is ein Knut get set up

with IRS number three is set up your

business bank account most business bank

accounts you can with like twenty five

or fifty bucks is all it takes to set it

up and once you have to understand is

with shelf corporations coming in to

people trying to fake how long they've

been open for now more than Lever

lenders are looking at when you open

your bank account as the seasoning for

your business so this means you could

have incorporated your business January

of 2014 you just opened your bank

account January of 2017 a lot of winners

are gonna see that January 2017 is when

you business was actually established

whether we like it or not this makes a

lot of sense because if you're really

gonna start doing business you're gonna

have a bank account so people that can

bank or set up an entity and never do

anything with it well those aren't

really businesses from a lenders eyes

until you start doing real business you

start doing real business when you open

your bank account so two reasons that

you need to make sure you open your bank

account as soon as possible after you

set up that entity one a lot of lenders

will look at the bank account setup date

as the date your company was established

and two the other thing is is that with

your bank rating the longer you've had

your bank account open the higher your

bank rating will be so another factor

the time so another thing here and we'll

see you how do you get the zero percent

interest again I'll go over that just a

second it's not in this training but

I'll tell you about that in just a

second Veronica hold on

the other thing is other Bank products

you have do you have other bank accounts

with the bank do you have you have other

overflow accounts do you have money

market accounts what other accounts do

you have the more products you're using

for your bank the higher your bank

rating will be so let's look at this

thing all together 90-day balances

primary driver of what's called your

bank rating or your bank credit score

and the bottom line is you don't want to

be a four you need to be a five to be

lendable low five is ten thousand to

forty thousand okay mid five rating has

40,000 to seventy thousand a high five

bank rating of 70 to 100 preferably you

want to be a full mid or high four five

so remember this is a 90 day average so

if you want to get a bank loan then make

sure you have as much money in that

account the 90 days prior to applying

even if you borrowed the money from an

alternative lender to put it in there to

help improve your bank rating it's worth

it remember other factors tie into it

all having to do with bank account

management don't overdraw your account

that can hurt your bank rating have

positive cash flow put more in the

account than you're pulling out make

sure you have consistent deposits don't

just randomly deposit your money in your

bank account maybe a few times that

could really hurt your bank rating but

how long you had your bank account

matter so get the things set up as soon

as you set up your entity and also take

advantage of other products that your

bank has can you make sure that you go

and you check out a money market account

get a second account with an acceptor

etc those are good things to actually do

to have a good bag

so for example we have a money market

account we also have a second checking

account that we use with it with an ATM

card attached right because we don't

have a debit card for our main account

if somebody were to steal that or get

the number they could take the money out

so we have a small account that we keep

a thousand two thousand bucks in that we

have an ATM card that's linked to

whoever we want to use a debit card we

use it for that secondary account the

smart thing about that is is that we're

using multiple products from the bank it

helps our bank rating our bank rating is

higher because we have multiple checking

accounts because we have a money market

account the more accounts we have set up

with the bank the more they like us the

better bank rating they give us so those

are little hacks and things you could do

to make sure you have the best bank

rating you can have now Veronica asked

about another program it's a little

poppy but I will go over it and we

talked about before called an unsecured

business fine

program marine welcome with this program

if you have a 685 credit score or higher

or a guarantor that has one and I'll

talk QI throughs question just second

let me get Veronica's answer if you have

a 685 bike or a Garin toward the house

one family member friend colleague

partner then you can get up to 150 grand

in unsecured financing so this works

good with your bank rating because you

can actually get the money with this

program to put in your bank account to

get your rating as high as possible to

get a conventional loan up to 150 what

does that mean you usually get about

five to eight times the amount of your

highest credit limit account so the

highest revolving credit limit account

you have now is 10 grant with this

program you can usually get 50 to 80


it's 0% for about 6 to 18 months it's

unsecured you don't need collateral for

approval that's what unsecured means

it's no-doc you don't need bank

statements and you don't need tax

returns for approval for this program

either ok and what you're ultimately

getting is about 5 business credit cards

that report to the business credit

reporting agency a bunch of things

Veronica about this program that you're

gonna love first of all you can get it

even as a start-up you can get it even

with no revenue you can get it even when

you have no collateral pretty tough to

get financing in those situations this

works second it's 0% financing for 6 to

18 months so when you're especially

getting your business ramped up to make

money the lowest interest rate the

lowest payment you can possibly get

what's important with the unsecured

business financing program you can't get

lower than zero percent the other cool

benefit of this program is you can get

cash out it's like the best things that

exist in credit cards and the best

things that exist in credit lines we

love credit cards because they give us

0% rates for 6 to 18 months credit lines

don't do that

we love credit lines because they allow

us to take the physical cash out of the

card without a high penalty with this

account you get both you get 0% for 6 to

18 months and you also get full cash out

capabilities so if you get a hundred

grand in credit cards you could take a

hundred grand out and still keep the 0%


act on that hunter grant that's why I

was saying it's perfect for this program

because you could pay 0% put the money

in your bank account and have a high

bank rating and still get the money and

all you need is good personal credit or

a good guarantor that has personal

credit to qualify it's an awesome

program what are the most popular so

Veronica hopefully that answers your

questions q can I apply for office Depot

and five payment experiences 3 dB

you can apply for Office Depot and

they'll probably approve you

sometimes if staples and Office Depot

don't like how many trade lines you have

they'll approve you for a net 30 account

versus revolving and if they do that go

ahead and take it continue getting more

accounts at them and then you'll be to a

point where you can get the revolving

account but usually with five payment

experiences you can usually get approved

for Office Depot with no issue q so

hopefully that answers your question

quit and thank you very much for sharing

and everybody else so far that I

mentioned thank you Michael moody how

much is that program can you email me

i've you email us

info at credit suite comm I can I won't

be able to jot down your email on this

live stream but if you email us info at

credit suite comm we'll get you that and

if you're interested in the guys it's

unsecured program we just talked about

there's a few things you can do just

call us first of all our team will tell

you about it eight seven seven six zero

zero two four eight seven eight seven

seven six hundred two four eight seven

you can also just go right into get

approved credit suite comm forward slash

get funding there you can fill out a

quick qualification and we'll contact

you regarding this program and

everything else you qualify but if you

have good credit or good credit

guarantor just want to know more well

then just just call us 877 602 487

that's our number will tell you more 877

602 47 I already told you most details

of the program but it's a really cool

program because again a bunch of money

when you can't usually get a business

loan their credit lines giving you full

cash capability and again 0% for 6 to 18

months oh one other thing I kind of

forgot to mention it's kind of important

is that with that program those accounts

report to the business credit reporting

agencies so they may give you five to

eight accounts and maybe five of those


or to the business credit reporting

agencies so you're building your

business credit as well as getting the

money at 0% so it's a pretty cool way to

get money even as a start-up to get

credit lines where you normally can't

get those startup and again if you're

getting a conventional loan down the

road it's great to help you boost your

bank rating it's just a hack or a

shortcut you can use can I apply through

my current account yes you absolutely

can how much is it that program let me

tell you we don't charge you a dime as

you know guys if you're ever trying to

get a loan whether it be private money

loan we have a 90/10 loan that's like

long-term term loans we have collateral

based financing we never charge you a

dime okay we help you and a lot of times

the lender will pay us a referral fee

that's how we get paid so with this

program we don't have a charge you

anything but the lender typically

charges a nine to twelve percent fee

that just like SBA you roll right into

the card so if you get one card with the

limit of 15 grand the reports of the

business credit reporting agency let's

say 10 grand then what they'll do is

that you'll pay a fee of about 900 bucks

- twelve hundred bucks on that ten

thousand dollar car and Ramin usually if

they're going to get you under 30 grand

they might charge you to 12 percent it

can be even lower than that depending on

risk but that's on average what you'll

probably pay is if you're getting more

approved more more than 30 grand you'll

probably pay less than a 10% fee and

they roll it right in to give you an

equivalent and SBA loans going to charge

you seven eight percent when you've done

paying all the fees to SBA and to the

actual lender with this you don't have

any of the requirements you need for SBA

you can get approved you can roll the

fee right in which means you don't pay

upfront ever a dime you never should for

funding I don't believe in that what you

should do is you get the actual cards

and once you get them then they'll

actually expect to be paid so you can

actually use the cards you get to be

paid which is pretty cool and a lot of

these lenders will help you with the

liquidation process they're getting the

cash out some cards are a little tougher

to get cash out so they might even move

your feet of that that card to make it

easier for you to get all the cash out

if you want all the cash out you might

not want all the cash out on that

program so is it based on personal

guarantee yes that program is now we're

guys there's a couple ways to build

business credit the purpose of building

business credit is to get credit your

EIN that's not linked to your social

right to get it without a social

security number without a personal

guarantee but to make that happen you've

got to build a bunch of credit first you

got to build vendor accounts and then

get Store account them with 10 or 15

credit card or credit accounts reporting

you can start to get fleeting cash

credit this is all no personal guarantee

so for example here's real approvals

from clients you know visa for 11 K Bank

of America for $11 40 Amazon for 35 you

know Best Buy for 40,000 these are all

individual limit credit card accounts

none of which required a personal credit

check or guarantee the reason that these

are possible is because somebody has no

business credit established they have

good business credit scores they've got

a bunch of accounts reporting this

program I telling you about does require

a personal credit check and does require

a personal guarantee because you don't

yet have your business credit

established but the benefit is that this

kinda replaces vendor accounts so when

you use these cash credit cards what

you're doing is replacing step 3 in the

process so now you're going to get your

five accounts that are cash credit card

accounts with a personal guarantee that

establishes a credit profile with dun &

bradstreet Experian Equifax

once you start to use these cards they

were poor then you have trade lines then

you immediately skip to start getting

store credit without a personal

guarantee as you start to get approved

for this kind of store credit then

you'll get fleet credit cards auto

vehicle financing visa cards master

cards all without a personal guarantee

so that's how that works guys remember

that a personal guarantee is required

when your business cannot stand on its

own if you don't have 15 trade lines on

your business credit reports your

business cannot stand on its own and

will need a personal guarantee from you

that's why we go through the teaching we

go through to teach you how to get the

trade lines on your report because as

you get 10 15 trades you could get

pretty much any kind of revolving credit

you want without a guarantee but you're

not gonna do it unless you establish

your business credit that's always a

necessity this program is a hack to help

you do it you can get up to 150 grand


cash financing with a personal guarantee

it reports to the business credit

reporting agencies and then that helps

you get to a point where you can get the

credit without a personal guarantee so

hopefully I went in on that program

email me I don't have your email and I

wasn't able to write down so Michael do

me do me a favor email info at credit

suite comm and say the same thing with

your phone number and we'll get in touch

with you today you answered it Thanks I

have a 750 Veronica you need about a 685

to get in so you should definitely

qualify and you know what it's no credit

check or pull at all actually our source

uses a soft poll so you don't need

credit monitoring you don't need

anything just call us 877 602 487 our

guys will tell you a little bit about

the program like I did we get a little

bit of info we'll get you transferred

right over so far 2 hours is what we're

averaging for approvals so what we're

doing is we'll get you to our funding

source and within 2 hours they're

sending you over a pre-approval that

tells you how much you can qualify for

right now no credit pull no inquiry

nothing at that point if it looks good

you want to move forward the process

moves pretty quick same day you can

already have them working on your

approvals and the approvals come in in

about one and a half to three weeks so

you can literally secure the money in

one and a half three weeks 0% for six to

18 months get accounts to report to the

business credit reporting agencies it's

really one of the best programs I've

seen out there and again from what we're

saying in less than two hours you're

actually getting your initial

pre-approval so if that makes sense

we'll give us a ring eight seven seven

six zero zero two four eight seven it

costs you nothing to figure out what the

funding source can actually get you in

approvals not even an inquiry

so take the step if you want to move

forward as they got started to apply

you'll have some inquiries but none of

that will happen until you tell them to

move forward so it's worth taking a look

at i'm anthony thank you very much for

sharing I appreciate it can I get a

mortgage loan I'm not your guy for that

if you want to commercial mortgage we

could talk residents from mortgage I'm

not your guy

so I really can't answer that question I

will probably guide you to somebody that

actually specializes in mortgage

financing I love your info I purchased

your program but the advisors don't have

the knowledge you have also the line is

always busy well our advisors the good

thing about our advisors queue is that

our advisors will stay on the phone for

you for 30 years

minutes the problem with that is is that

if we've got three four or five advisers

on and everybody's on a 15 20 minute

phone call then you might run into that

if you do that's okay hit our live chat

app leave a voicemail send an email our

team gets back to you very quickly we

mandate within an hour we try to get

them back to you within twenty minutes

so we always get back to you quickly and

the good thing is is that we'll spend

the same time with you that you actually

will spend or will spend the same time

with you that we're spending with

somebody else that's on the other line

if that happens and when it comes to

knowledge they're the ones I go to for

answers so Michael moody for example

asked me last week about Nordstrom

reporting I didn't know so I called her

advisor team and our advisor team got me

all the research and told me exactly

what they were seating just stopped

reporting advising team is what told me

that so they're very very very well

equipped to help you and a lot of cases

they have more knowledge than I do on

some topics they don't but on the

business credit building side they can

definitely help you there Murray thank

you for sharing I need your help

Reginald give us a ring we'll talk to

you more we can help you with business

credit and loans 877 602 487 I have five

accounts reporting to Equifax business

does that help you get funding without a

PG not with five you're on your way way

you're on your way

but you have to understand guys when you

want a business loan that's based on

your business credit there's a lot more

things on your business credit report

than just your trade mine's how long you

been in this is how many employees you

have your revenues your profits all that

ties in so if you want to go in and get

a business loan it's not about having

five trade lines it's a matter of having

about 15 trade lines or more to get away

without a personal guarantee and then

they're gonna look at your credit report

to see your revenues to see your time in

business all that would have to be very

solid to get a physical loan without

without actually needing a personal

guarantee because again a personal

guarantee is needed when your business

can't stand on its own it can't stand on

its own with only five trades you'd have

to have fifteen trades or more to even

be considered for a loan without a PG

and even if you got there you still need

to make sure that your revenues your

profits your employees the size of your

business all reflects that you're worthy

because they'll look at all that on your

credit report as well Twila thank you

very much

for sure and that sauce often that's

awesome Veronica ninety twelve percent

fee is that the only option depends we

have a lot of funding programs

remember business credit that I teach

you to build with no personal guarantee

has none of those fees and all loans

have some kind of feed points and

interest that's how they all make money

on this one yeah we've got a bunch of

different sources they usually range

from nine to fifteen percent is what

they charges a fee we do a lot of

business with them so we get the fee

down about twenty five percent lower

than what you'd find out there and

usually on the end it's about nine to

twelve percent is what the fee is for

that zero percent program you do

commercial mortgages we do if you have

any questions let us know 877 602 47 we

work with a network of brokers that do

we don't ever offer any of our own loans

what we do is help find the sources that

will prove you and get you connected

with those sources my highest line is

$25,000 credit card does that mean I'll

get about 125 and pay nine percent of

that that means you can get whatever you

want it you might say I only want 50 you

might say a 100 I want 75 what they'll

do is give you an approval in the say

hey look we can get you up to 125 grand

which is probably fairly accurate to

what you may be able to get if you're

Heinz 25 and then you might say I don't

want 125 I only want 75 or 50 but yeah

they could probably get you approved up

to 125 if you wanted that full now you

pay a 9% fee on that so you pay 12 grand

to get 125 thousand dollars in unsecured

financing at 0% rates for six to 18

months that lets you liquidate take all

the physical cash out ie a product

you'll never find out there in the space

so it's a pretty good deal it's one of

my favorite programs because if you

really look at the fees interest rates

of points you pay it's pretty affordable

when it comes to revenue lending people

are paying thirty forty to sixty percent

on the money they're borrowing with this

you're paying nine and nine to 12

percent depending on some specifics of

risk and with that you're getting 0% for

six to 18 months and able to liquidate

all the cash and if you don't want the

25 don't get the 125 it's that simple

just get whatever amount you want you

can always come back and get more okay

so I think it answers all the

so let's review everything we've talked

about here today and give you a chance

to kind of whoa my hand over there okay

answer any other questions or ask any

other questions you may have so the bank

rating summing this up three types of

credit you have your consumer credit


payment is for utilization linked to

credit credit mix new credit account for

what your score is you have business

credit it's all based on how you pay

your bills if you pay your bills

promptly as agreed you get a good score

the key here is to get accountant report

to the business credit reporting

agencies payments agreed that gives you

a good score the more accounts you have

that report the easier it is for you to

get approved for loans and credit

without a personal guarantee you have

bank credit your bank credit score is

based on primarily how much money you

keep on your bank account and have over

on average over the last 90 day time

period so that being said you can come

in and have a low five rating and get at

the bare minimum to be lendable and have

10,000 to 40,000 in your bank account

amid 5s if you have over forty to

seventy and a high fives if you have

over seventy so if you're going to get a

bank loan keep as much money in the bank

account as you can over the last 90 day

or the 90 day time period before you

apply even if you borrow money to put

the bank account remember we talked

about a great way to do that the

unsecured program 685 FICO score of you

were a guarantor to get approved you get

0% rates for up 250 grand Veronica for

example says her highest limits about 25

grand you're usually getting about five

times the amount of your highest credit

card limit so in that case that means

she could get about 125 grand at 0% you

could take all attached out on this so

she got 125 so you take 125 out of

physical cash which is cool get approved

even as a start-up it's unsecured so no

collateral is required it's no dock so

no financials or bank statements are

required either and again I think I

mentioned you can get approved as a

start-up so you could even use a program

like this to get cash to put in your

bank account to get your highest bank

rating but remember this bank rating

only applies for conventional banks an

on deck for example an alternative

lender wouldn't look at this

an alternative lender like on deck will

look at your business credit scores we

get denials from them all the time

because people don't have high enough

business credit scores primarily because

they don't have any credit established

with these two guys here with Equifax

and Experian they will give you a low

score just because you have a credit

profile established even if nothing is

reporting even if you never paid an

account behind they will still give you

a low score okay that's why you need to

establish business credit even with

alternative lenders they care remember

when it comes to your bank rating your

90-day average balance matters the

number of non-sufficient funds you have

you want to reduce that don't overdraw

your account you want to have positive

cash flow more money going in than

coming out you want to have consistent

deposits going into your bank account

every single month you want to open your

bank account as early as you can

preferably the day you get your EIN and

you want to have as many other open

accounts on that bank as possible money

market other checking accounts an

example guys I went through it did an

experiment once in less than 45 minutes

I set up identity I got my ein and I got

my bank account set up so make that one

of your initial step that's super easy

to do and super fast to do so I'm gonna

wrap this up if you have any other

questions going gametype then I want to

make sure that they are answered I

already have my AI in and Duns how do I

check my business credit go to credit

suite comm forward slash for reports and

credit suite comm forward slash reports

with an S on the end reports you could

do a free check with Experian Equifax

and B&B to see if they anything that

pulls up on your business so John if you

do that free check and nothing pops up

you type in your business name and

address and no results pop up you

probably don't need to pull your reports

but if anything pops up and shows they

know who you are

especially with Equifax and Experian it

probably makes sense for you to pull

your reports you can go to credit suite

comm forward slash for report with no S

and you can actually get reports with

all three the reporting I actually go to

credit suite comm form such for reports

and I think you could check all three

and get your reports with all three

right there as well

q says can i PG my business and build it

at the same time then get rid of the PG

you can't you can and can't

you can't get rid of a personal

guarantee on an account once you've

established business credit so if I get

a Staples account with a personal

guarantee and then I build a bunch of

business credit I can't go back to

Staples and say my business credits

built removed the PG they won't do that

I'd have to close that account and open

up another Staples account without the

personal guarantee so yes you can fund

your business with a personal guarantee

we talked about this unsecured program

where you can get one hundred and fifty

thousand an unsecured financing it has a

personal guarantee but it also builds

your business credit so you could use

that to get cash build your business

credit then get even more business

credit without the personal guarantee

but once you've established your

business credit you can't go get your PG

remove from those accounts creditors

will not let you do that you'd have to

close the account or reapply for the

account to get it without the PG

hopefully that answers your question

and Neriah I can't pronounce that name

but thank you so much for sharing thank

you guys everybody for sharing that's

awesome how can I get everything how can

I get everything you just said well

first of all if you go to

facebook-dot-com forward-slash credit

suite you can get all of our past video

training and we map out all everything

to do with consumer scores the steps to

build business credit all those type of

things you can also go to credit suite

com forward slash Facebook credit suite

com forward slash Facebook get a great

free guide that maps out the exact steps

for you to build business credit and

then we'll send you emails about funding

and all kinds of other stuff we can do

the other thing that we can do is you

can also just call us if you call us at

877 602 487 then we'll talk to you more

about building your business credit how

we can expedite and take what might take

you years to do and convince in two

months we can also talk to you about all

different kinds of ways to get business

loans including that unsecured program

as well and again we don't have anything

on the loans and we don't work with

lenders that charge application fees

you're gonna pay normal rates and fees

that you pay with the lender we even

negotiate that and get that down for you

because we do volume so 877 600 to 487

we'll talk to you more about building

your business credit and all of your

loan options as well as that 0%

unsecured financing so I give you a

bunch of different

waise perfect good you're awesome

brother hey come out I think appreciate

that man thank you guys for coming okay

so we're gonna wrap this up so we

learned a lot if you haven't been with

us the last few streams go back to

facebook-dot-com forward-slash credits

we go to videos click see all you'll see

all of our live streams we do it every

Thursday at 11:00 the last three weeks

this week we talked about your bank

credit score the week before we talked

about I think your consumer credit

scores the week before we talked about

your business credit scores then the

weeks before that we talked about how to

get business loans we talked about the

three C's of lending a bunch of

different ways like 20 ways you can get

business loans and the weeks before that

we mapped out the steps to build

business credit so I've had a lot of

interest in building business credit so

I'm probably going to be circling back

around next Thursday at 11:00 getting

back into some training on business

credit a lots changed in that space

since we've revisited the business

credit building so we'll probably be

jumping back into that again don't

forget to grab your free guide if you're

not on our list go to credit suite comm

forward slash face book a great guide

that maps out how to build business

credit and will send you emails with all

kinds of education we'll teach you how

loans work we'll teach you how the

business credit works we'll teach you

everything you need to know and if you

want to qualify for one of the loans we

talked about now the unsecured option or

if you want to know more about working

with us for business credit give us a

rate eight seven seven six hundred two

four eight seven eight seven seven six

hundred two four eight seven if you hit

our voicemail leave a voicemail we have

about three customer service reps two

one sales guy it's kind of how we roll

so that means you might actually call in

our sales line and hit a voicemail from

time to time if you call our team back

or leave a message they'll call you back

really really quickly they're really

awesome about that thank you awesome

stuff love you guys Josh you're the best

man I appreciate that good job credits

vo Neil thank you very much man I really

appreciate that and blankenship

Investment Group LLC and 22 others thank

you guys for sure and that's like the

most shares I've ever had

anyways can I talk to you personally cut

out give us a ring info at credit suite

comm send an email that I checked that

email as well and let me know what it is

and yeah I might jump on a call with you

I have a team that's highly qualified

that can help you with just about

anything that you may need as you

probably imagine everybody wants to talk

to me personally and of course I don't

have the time to talk to you know

to people so I try to have a team that

literally works right on that other side

of the door my team is right on the

other side of the door and if I can't

get to you quickly the one of my team

will and if it's something that I will

she jump in on absolutely I'll be on the

phone with you but don't be afraid to

talk to our team because like I said I

have a really close team that I work

with one-on-one they're right on the

other side of this wall so what I know

they know in a lot of cases because of

the level of training that we do can you

explain the process of skipping vendor

accounts if you have a business credit

with a PG can you go straight to score

accounts or do you need to get vendor

accounts before you get store credits

okay so let's talk about that so to get

to store credit cards when it comes to

business credit bill you know could can

I thank you man and I'll make sure

you're taking care of like I said if you

talk to me directly or one of my guys

let's still make sure you're taken care

of so you need five accounts reporting

to get store credit cards and the two

most popular ways to do it or to use

vendor accounts to get your five you

like will monopolize your marketplace or

if you have good and this is good

because no matter how good your credit

is even if it's horrible you can still

get this so even if you have bad credit

this option still works for you but if

you have good credit well then you might

want to skip vendor accounts why because

maybe you don't want to buy shipping

supplies that you like or maybe you

don't want to buy office supplies at

quilt well you can skip this if you have

good credit or a guarantor with good

credit because you can get about five

business credit cards at 0% up to 150

grand that report to the business credit

reporting agencies but these require a

good score so if you have a good score

we'll give us a ring eight seven seven

six hundred two four eighty seven will

talk to you about this program you'll

not only get up to 150 grade and

unsecured financing you'll also build

your business credit at the same time

get those five accounts to move on to

store credit cards without a personal

guarantee if you don't have good credit

no worries

then that's what vendor credit accounts

are for use these to get your 5 to get

the store credit

so hopefully that

Mesa vents for iam okay so in lolani

lolani thank you very much I appreciate

you sharing as well Roger back then

thank you very much Taylor Williams

thank you guys for sharing okay I'm

gonna wrap this up thanks for hanging

with me I tried to keep these as as

short as possible cuz we're all

entrepreneurs and I know you're busy and

I don't want to keep you away from what

you're doing if we can help you in any

way let us know 877 602 487 don't forget

to grab your free guide credit suite com

forward slash Facebook and I will be

back next Thursday at 11:00 as I always

am going live and on as we go live next

week we'll be talking more about

business credit building and a lot more

things in the weeks to come loans credit

lines we're gonna decode it all thank

you for coming I know how valuable time

is and I look forward to seeing you next

Thursday at 11:00 perfect I thank you

that helps I have 70 credit score Alvin

that's awesome Congrats on your 750

credit score now it's time to get

rewarded so give us a ring 877 602 487

we'll talk to you more watch this from

the beginning where we even talk a

little bit more about how to get that

unsecured financing for up to 150 grand

while building your business credit

perfect for startups it's no docks you

don't need tax flow you're noting tax

returns or bank statements if you don't

have the cash flow and you don't need

collateral so if you don't have 401k

stocks any of that other kind of stuff

you can still get approved thank you

guys very much for joining I appreciate

you coming on to with us today I'll see

you next Thursday at 11 o'clock where we

talk more about building your business

credit thanks everybody

have a great day hey Roger I can't wait

to start working with you either thanks

for coming guys thanks for the comments

thanks for the likes thanks for the

shares I'd like 20 something just 25

shares today that's awesome 26 thank you

guys very very much it really means a

lot thank you everybody

have a great day