3 Big Differences between Personal Credit Scores and Business Credit Scores

There are many differences between personal and business credit scores.

One fundamental difference between consumer and business scores is the time frame the scores gauge someone’s risk of default over.

A business credit score is a mathematical model that is used to depict a business’s risk of going 90 days late on an account within the next 12 months.

A consumer credit score is a mathematical model that is used to depict a consumer’s risk of going 90 days late on an account within the next 24 months.

Another big difference between consumer and business credit scores is what the score actually represents.

A consumer credit score reflects an individual’s likelihood of defaulting on an obligation.

A business credit score reflects the business’s likelihood of defaulting on an obligation, not the business owner’s.

The business credit score is based on how the business obligations are being paid, not how the business owners pays their personal obligations.

Another major difference between business and consumer credit scores is the score range.

Consumer FICO scores range from 350-850 with 850 being the best score you can obtain. Business credit scores typically range from 0-100 with 100 being the best score you can obtain.

There are three of many major differences between consumer and business credit scoring. 

As a Certified Life Coach and Therapist, Ramona Christine offers professional services to help you build the required points of credibility for small business financing and credit.  There is no need to keep your business ideas on hold because of concerns around financing.  Financing is accessible and within just a short period of time.

After taking advantage of the knowledge shared in this article series, Ramona Christine, was able to secure funding for her business within 45 days; literally, a $20,000 revolving line of credit.  That sure did supersede the $3,000.00 personal credit card limits that she had been working with on the consumer side of things.  The relief was tremendous after doing it the hard way (the wrong way) for so many years.  Funding her own business ventures with personal credit and income made it that much more difficult to break free from the vicious cycle of personal credit deficiency, not to mention the risk of “piercing the corporate veil”.

Personal credit cards were maxed out, consumer credit utilization was high, her personal credit score was low, and the amount needed to fund business expenses just wasn’t there.  It was a vicious cycle of chasing balances and cash before finally liberating herself through some research and implementing the vital information shared in this series of articles.  Gaining access to business credit and financing was exactly the remedy needed to obtain a second wave of financial power referred to as Business Credit.

By taking advantage of Ramona Christine as your Business Credit Coach, she will give you, yes, give you immediate access to 2/10 of the bank required points at no additional cost, a valued savings of $750.00.  A professional internet presence is a vital credibility point that gets you that much closer to small business funding.

1. First, you will be set up with a professional website domain and professional email account (i.e. www.yourbusinessdomain.com and you@yourbusinessdomain.com)
2. Second, you will receive website hosting for your professional website for the duration of your Business Coaching relationship.  This means that while important work is being done to meet the other 8 credibility points, your professional reputation is already spanning across the world wide web like wildfire.

If you are anxious to get started and learn more about business credit and financing, you are invited to visit: Embrace(D) for Success (https://www.embracedforsuccess.com) to discover more.  You may also learn more about the professional services provided by Ramona Christine.  As always, Ramona Christine, is also quick to respond to e-mail inquiries received at ready2b@embracedforsuccess.com.

Building business credit streamlines you into opportunities un-imagined.  Imagine the growth that is possible with business funding at your disposal!

If you feel that you may already be in a position to access small business financing, apply with Kabbage today to receive an immediate response to your application.  Invest in yourself!  May you continue to grow in prosperity and success!

3 Major Myth Busters Regarding Business Credit

A lot of people don’t understand the consumer credit system, and many more don’t understand the business credit system. Today I’m going to cover a couple of common
business credit “myths”, and explain the truth that can be learned from them.

Myth #1: Business Credit is Just Like Personal Credit
This sounds like it ought to be true, but it just isn’t. Sure, the credit systems are similar. However, there are some very major differences that can seriously affect your business. For starters, the consumer credit system has, both in court and in congressional testimony, been demonstrated to be fairly anti-consumer. The system works against consumers in many cases, is prone to errors, and tends to resist the correction of any errors by consumers or their advocates. (In one example, even after a credit bureau was sued and lost in court, they continued to refuse for months to remove the incorrect information from the person’s credit reports.) The business credit system is quite different. It is not anti-business (or anti-consumer), it is less prone to errors, and when there are legitimate errors, they are generally easier to get corrected.

Myth #2: It Doesn’t Hurt To Use Personal Credit In Place of Business Credit
This is a problematic way of thinking that can lead to big problems down the road. Using personal credit for business purposes puts your personal credit at risk for the sake of your business. By using personal credit for business, you limit the resources available to you personally and to your business, and the end result could be disastrous. Imagine when your business credit needs exceed your personal credit capacity--and when YOU need to use your personal credit and can’t because it’s
been tied up by your business. No matter how you spin it, in the end using your personal credit for business is a bad idea.

Myth #3: Business Credit and Personal Credit Are In No Way Related
While using your personal credit for business use is a bad idea, we can’t exactly separate business credit and personal credit completely. In many cases, especially when starting out with business credit, an owner of the company will be required to provide a “personal guarantee” for the business credit loan or line of credit. When providing a personal guarantee, the company extending credit will not only check your business credit, but will check your personal credit history. While the business account won’t show up on your personal credit report, the personal guarantee could eventually affect your personal credit in the event that the business fails to meet its obligations. Obviously, you should aim to avoid that scenario (and certainly can) by careful planning and smart use of business credit.

As a Certified Life Coach and Therapist, Ramona Christine offers professional services to help you build the required points of credibility for small business financing and credit.  There is no need to keep your business ideas on hold because of concerns around financing.  Financing is accessible and within just a short period of time.

After taking advantage of the knowledge shared in this article series, Ramona Christine, was able to secure funding for her business within 45 days; literally, a $20,000 revolving line of credit.  That sure did supersede the $3,000.00 personal credit card limits that she had been working with on the consumer side of things.  The relief was tremendous after doing it the hard way (the wrong way) for so many years.  Funding her own business ventures with personal credit and income made it that much more difficult to break free from the vicious cycle of personal credit deficiency, not to mention the risk of “piercing the corporate veil”.

Personal credit cards were maxed out, consumer credit utilization was high, her personal credit score was low, and the amount needed to fund business expenses just wasn’t there.  It was a vicious cycle of chasing balances and cash before finally liberating herself through some research and implementing the vital information shared in this series of articles.  Gaining access to business credit and financing was exactly the remedy needed to obtain a second wave of financial power referred to as Business Credit.

By taking advantage of Ramona Christine as your Business Credit Coach, she will give you, yes, give you immediate access to 2/10 of the bank required points at no additional cost, a valued savings of $750.00.  A professional internet presence is a vital credibility point that gets you that much closer to small business funding.

1.    First, you will be set up with a professional website domain and professional email account (i.e. www.yourbusinessdomain.com and you@yourbusinessdomain.com)
2.    Second, you will receive website hosting for your professional website for the duration of your Business Coaching relationship.  This means that while important work is being done to meet the other 8 credibility points, your professional reputation is already spanning across the world wide web like wildfire.

If you are anxious to get started and learn more about business credit and financing, you are invited to visit: Embrace(D) for Success to discover more.  You may also learn more about the professional services provided by Ramona Christine.  As always, Ramona Christine, is also quick to respond to e-mail inquiries received at ready2b@embracedforsuccess.com.

Building business credit streamlines you into opportunities unimagined.  Imagine the growth that is possible with business funding at your disposal!

If you feel that you may already be in a position to access small business financing, apply with Kabbage today to receive an immediate response to your application.  Invest in yourself!  May you continue to grow in prosperity and success!

They Will Solve Your Problems: Top Web-Design Assets to Improve Your Workflow

From time to time, every web-designer needs a little inspiration. Even the most talented people can be creatively stuck. It is so lucky for them to have thousands of resources where they can find it. They are capable of giving a quick visual stimulation that is so necessary when you have no ideas. They can generate something new and help in implementing all your thoughts in life. In addition to this, there are many people who are willing to give some pieces of advice. I thought that it would be nice to become someone who also helps others.

Today, I have a very responsible task. There are many useful instruments that can make your life easier. The biggest part of them can be called real time-savers. They allow speeding up multiple processes on which you would normally spend hours of tiresome work. Many web-designers have already decided to keep their personal version of web-design toolkits. Unlike them, you do not need to sift through lots of assets to find the best one. I am going to present the most effective and essential ones in this post. Actually, it seems that it is not difficult to become a web-designer. Maybe, it is a true statement.

For the reason that the Internet is always ready to provide you with a large number of resources. However, I understand these challenges that a beginner in the sphere of web-design may come across. It can be tough to find the best materials that will boost your career. Furthermore, these very materials should enable you to achieve web-design that is not only visually-appealing. They need to make sure your design will turn out to be extremely user-friendly. In my opinion, there are some exciting tools included in this article that professionals will enjoy too. It does not matter how much background experience you have. There are always more things to explore. Before you start your next online-project, take a look at these helpful instruments.

Maybe, you will find something that you have always been dreaming of. It is better when you know more. The same thing can be said about having different web-design assets. It is better when you have many of them. Sometimes you do not have enough time to create everything from scratch. In such a case, you need a trustworthy assistant. I really try to center this collection only on such kind of helpers. They will provide you with additional opportunities and allow getting your online-projects ready in a jiffy. What can be better? It seems to me that I have been talking a lot about the importance of these components. Yet, you have not gotten the opportunity to get familiar with them. To be honest, I wanted to keep you intrigued. Even really intrigued.

Get ready to check these marvelous web-design assistants here and now. It will be nice if you get surprised by their high-quality and effectiveness. There is no need to keep you from them anymore. I really hope that you will get those instruments that you expect to find...

Infographic Pack - Presentation Asset v2.2 PowerPoint Template

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Power Edge - PowerPoint Template

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Pitch Deck PowerPoint Template

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SINBAD Social Media Pack Social Media

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Colorful Instagram Banner Pack Social Media

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Hello Pack Social Media

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Liza Brown - Human Resources Manager Resume Template

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Johnson Graphic Designer Resume Template

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Corporate & Modern Word Multipurpose Certificate Template

 

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Press Certificate Template

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The PayDex Business Credit Score - Dun & Bradstreet

The main credit score used in the business world is known as a Paydex score provided by Dun and Bradstreet.  This number assesses a business’ lending risk much the same as a consumer credit score reflects a consumer’s individual credit risk.

Paydex is essentially the business equivalent of your personal credit score.  The exact definition from Dunn & Bradstreet, or D&B is: The D&B PAYDEX® Score is D&B’s unique dollar-weighted numerical indicator of how a firm paid its bills over the past year, based on trade experiences reported to D&B by various vendors.

There are many BIG differences from a business Paydex credit score and an individual FICO consumer credit score.

Consumer FICO credit scores range from 350-850. The Paydex Score ranges from 0-100 with 100 being the highest score you can obtain.

Individual credit scores are calculated based on a number of factors.  The Paydex score is calculated based on only one single factor; whether a business makes prompt payments to its suppliers and creditors within the agreed upon terms of payment.

Most lenders and suppliers are looking for a score of 70 and higher. Having a score of 80 and above is very good.  Here is a breakdown of how the Paydex credit score is calculated:

Payment Expectation
Expect payment may come early	100
Payments generally come within early payment 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	20
Unavailable	UN

If you own a business, your Paydex score is essential in establishing new credit and continuing to build credit limits exceeding $100,000.

It only takes 60 days to establish a positive Paydex credit score. To start you will first want to apply for a DUNS Number, a nine digit business identifying number, with Dun and Bradstreet.  Once your DUNS number is established you will next want to find a merchant who will extend you credit and then report that credit to Dun and Bradstreet.

Once you have positive business credit report to Dun and Bradstreet you will have a positive Paydex score established.  You will want to then apply for more business credit and use it regularly. Make sure you pay all payments back early to raise your scores to 80 or higher.  You can easily and quickly establish a positive Paydex credit score.

As you continue to pay your bills timely your scores will continue to raise giving you the ability to qualify for credit in your business name.

As a Certified Life Coach and Therapist, Ramona Christine offers professional services to help you build the required points of credibility for small business financing and credit.  There is no need to keep your business ideas on hold because of concerns around financing.  Financing is accessible and within just a short period of time.

After taking advantage of the knowledge shared in this article series, Ramona Christine, was able to secure funding for her business within 45 days; literally, a $20,000 revolving line of credit.  That sure did supersede the $3,000.00 personal credit card limits that she had been working with on the consumer side of things.  The relief was tremendous after doing it the hard way (the wrong way) for so many years.  Funding her own business ventures with personal credit and income made it that much more difficult to break free from the vicious cycle of personal credit deficiency, not to mention the risk of “piercing the corporate veil”.

Personal credit cards were maxed out, consumer credit utilization was high, her personal credit score was low, and the amount needed to fund business expenses just wasn’t there.  It was a vicious cycle of chasing balances and cash before finally liberating herself through some research and implementing the vital information shared in this series of articles.  Gaining access to business credit and financing was exactly the remedy needed to obtain a second wave of financial power referred to as Business Credit.

By taking advantage of Ramona Christine as your Business Credit Coach, she will give you, yes, give you immediate access to 2/10 of the bank required points at no additional cost, a valued savings of $750.00.  A professional internet presence is a vital credibility point that gets you that much closer to small business funding.

• First, you will be set up with a professional website domain and professional email account (i.e. www.yourbusinessdomain.com and you@yourbusinessdomain.com)
• Second, you will receive website hosting for your professional website for the duration of your Business Coaching relationship.  This means that while important work is being done to meet the other 8 credibility points, your professional reputation is already spanning across the world wide web like wildfire.

If you are anxious to get started and learn more about business credit and financing, you are invited to visit: Embrace(D) for Success to discover more.  You may also learn more about the professional services provided by Ramona Christine.  As always, Ramona Christine, is also quick to respond to e-mail inquiries received at ready2b@embracedforsuccess.com.

Building business credit streamlines you into opportunities un-imagined.  Imagine the growth that is possible with business funding at your disposal!

If you feel that you may already be in a position to access small business financing, apply with Kabbage today to receive an immediate response to your application.  Invest in yourself!  May you continue to grow in prosperity and success!

Ramona Christine, LLC