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New comment by jsonice in "Ask HN: Who is hiring? (February 2021)"

APY Finance | Backend Engineer Location: REMOTE We are looking for a backend engineer that has a passion for cryptocurrency, DeFi, and a love for Clubhouse discussions on the latter topics. You will get to touch on all aspects of Ethereum backend engineering. The right engineer will participate in the development and roll-out of world-class …

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Unsecured Business Credit Cards for Bad Credit and Other Funding Options

If you need unsecured business credit cards for bad credit, you may feel like you’re out of luck. There are options though.  There are a few credit cards, but other options exist as well. 

How to Get Unsecured Credit Cards for Bad Credit, and What to Do If It’s Not Enough

When you get unsecured business credit cards for bad credit, you will likely see that you still need more funding to accomplish your goals. It will probably not be enough to do what you need to do. They can be a great tool for managing day to day expenses however. 

Unsecured Business Credit Cards for Bad Credit: Brex Card for Startups

The Brex card for startups is one of the few true options if you are looking for business credit cards with bad credit and no personal guarantee. Even a FICO as low as 300 may qualify.  There is no annual fee, and you can apply with your EIN rather than your SSN.  

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

Business Revenue Lending

Another option is business revenue lending.  The minimum credit score is 500, so not having great credit is fine.  The trade off is your business must earn annual revenue of $120,000 or more, and it must do more than 5 small transactions each month.  If your business brings in at least $15,000 monthly, then 6 months in business is ok.  You will have to fill out an application and provide 6 months worth of bank statements. 

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

Unsecured Business Financing: Credit Line Hybrid

If the Brex card isn’t enough, the next best thing is a credit line hybrid. This is unsecured business financing stacking a number of credit cards.  It allows you to fund your business without putting up collateral, and you only pay back what you use, just like a single credit card. 

However, you do need a credit score of at least 680.  In addition, you can’t have any liens, judgments, bankruptcies or late payments.  Furthermore, in the past 6 months you should have less than 4 credit inquiries, and you should have less than a 45% balance on all business and personal credit cards.  It’s also preferred that you have established business credit as well as personal credit. 

So, how is this the next best thing to an unsecured business credit card for bad credit? I mean, if you are looking for that, you probably do not meet the 680 credit score requirement.  Here is the secret. You can take on a credit partner for this type of funding. Many business owners work with a friend or relative to fund their business.  If a relative or a friend meets all of these requirements, they can partner with you to allow you to tap into their credit to access funding. 

The best part of this type of funding is that it reports to your business credit report, regardless of whether you use your personal credit to apply or that of a credit partner. That means, you get your funding and build your business credit at the same time. As a result, you will no longer have to worry about finding funding for bad credit, as long as you pay consistently on-time that is. 

A Word About Security: It Might Be Worth Itunsecured credit cards for bad credit Credit Suite

No one wants to use their personal assets or their business as a whole as security for business funding. However, if you have bad credit, your options are limited. These secured business funding options are much less harsh than standard secured business loans, and they work even with bad credit. 

Real Estate Financing

Likewise, you probably will not be financing real estate with business credit cards, even if it is 0 interest. You can get real estate financing in amounts up to $10 million with terms from 6 to 60 months and interest rates as low as 6%.  You will need a 500 minimum credit score, and there are a few other requirements. 

Equipment Financing

If you need equipment, it might be better to consider equipment financing.  You will put up your existing equipment or the new equipment you want to purchase as collateral.  Amounts are available up to $10 million with terms ranging up to 60 months. You will  need a credit score of at least 550. 

You wouldn’t likely be able to fund either of these endeavors with an unsecured business credit card, nor would you want to. In these cases, using your purchase as collateral may be necessary to get over the bad credit hump.

Account Receivable Financing

To get this type of funding, you have to have open receivables from another business or government agency, not individuals.  In addition, you need to have been in business for at least one year. The minimum credit score is just 500.

You can get up to 80% of receivables advanced in as little as 24 hours. Even though you are using your invoices as security, it works more like a cash advance on money you have already earned. 

Merchant Cash Advance

If you accept credit cards payments, you may qualify for a merchant cash advance.  You only need a credit score of at least 500.  To qualify, your business must bring in $100,000 or more per year in credit card sales.  Typical approval amounts equal one months’ credit processing volume.  In addition to the application, you’ll need 3-6 months bank and merchant statements. 

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

Secured vs. Unsecured Business Funding

If you have bad credit, there are not a ton of business funding options available. Take what you can get, use security when you have to, and work on improving credit at the same time. If you need to have collateral, trying using whatever it is you are buying. This works especially well for real estate and equipment.  Then, you can save your unsecured business credit cards for bad credit and other unsecured options for day to day expenses.

Consider A Business Credit Expert

The best way to get rid of bad business credit is to work with a business credit expert. While it is possible to do it on your own, it’s not wise. Typically, it’s downright ineffective. Here’s why.  First, you have to be sure your business is fundable. Fundability is a complicated, tangled web and if you aren’t sure of every strand, a lot of things can slip through the cracks. An expert can help you unravel each strand of the web and find issues with fundability you likely never knew existed, and tell you what to do about them. 

Also, it is impossible to build credit without first having credit, unless you can find vendors that will report payments to business credit reports without checking credit history first. These do exist, but they do not necessarily make that knowledge public.  The right business credit expert can save you a lot of time and money by pointing you toward the vendors that will work best for your business right now, and show you how to build on the credit they extend. 

There is a Time and a Place Use Unsecured Business Credit Cards for Bad Credit

It’s true. For short-term financing of day to day operations, or even smaller equipment, unsecured business credit cards for bad credit can work well. They are a great tool to have in your tool box. However, there may be times when you need more than this type of financing can offer. Not only that, but for larger equipment purchases and real estate, using security may be the only thing that makes sense. Try using a business credit expert to help you decide which options will work best for you in your specific situation.  You’ll be glad you did. 

The post Unsecured Business Credit Cards for Bad Credit and Other Funding Options appeared first on Credit Suite.

How Long Does It Take to Build Business Credit?

Wondering How Long Does It Take to Build Business Credit?

If you need to know how long does it take to build business credit, then look no further.

What is Business Credit?

Business credit is the credit capacity of a business. It is independent of its owners. Hence your personal credit and business credit scores can be radically different. Built correctly, business credit preserves your personal assets as they are never put on the line. But you must build business credit proactively – it doesn’t just happen.

How long does it take to build business credit? Business credit building is a process. But it doesn’t have to take forever. You may be seeing figures like three years thrown around. While it can be helpful to be in business for that long, you can build a good business credit profile and score long before that.

How Long Does It Take to Build Business Credit? The Truth is, Business Credit Building Process Needs to Be Faster

Three years really isn’t acceptable. According to the US Bureau of Labor Statistics, only about 60% of all businesses survive to celebrate their third anniversaries. For 4 out of 10 new businesses, three years is too late. Let’s make sure your business isn’t one of them. See

Speeding Up the Business Credit Building Process

This process is proven to work, so you won’t waste time on strategies which are unconfirmed. And you won’t get frustrated with avoidable denials and delays. Following the steps in order will also take advantage of building toward a goal, and it will give you actions to take while awaiting the passage of time. Because being in business for three years will be helpful! But you can act while those calendar pages flip.

Your Business Name

Yes, your business name matters! Keeping the name of a risky industry in your business name is only going to invite denials. A risky industry is generally one with more cash transactions than the norm, or there’s a high risk of injury on the job (to workers or even customers).

Gambling fits under the first definition, and construction fits under the second. There’s nothing misleading or unethical about calling your company X & Q’s rather than X & Q Construction. Everything stems from your business name, so start here. 

How Long Does it Take to Build Business Credit Credit Suite

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit, even in a recession.

Your Business Phone Number

Your business phone number will go on your website, your business cards, and all advertising. So it should be your second stop. Using a cell or home phone is going to be problematic, so don’t do it.

Cell and home phone numbers will generally get your business flagged as not being established. This is going to trigger denials. A separate phone number is vital. Fortunately, you can use voice over internet protocol (VOIP). That means you can have your business number ring any device, like your landline or cell phone.

Toll-free numbers are helpful for getting business and showcasing professionalism. These are 800 area code or the like. Your phone number also needs a listing.

Lenders, vendors, and other credit providers will be looking for your phone number, so will your prospects. So make it findable! You can get it on 411 by using

Get a Proper Business Address

Just like your business phone number, your address will go on marketing materials, loan applications, and more. A home address will get it flagged as unestablished. The same is true if you use a UPS box or PO box.

You need a brick and mortar address. It has to be a place where mail can be delivered. Lenders, credit providers and more will check out your business on Google Street View. If they spot it’s a home address, then you’re inviting denials. And there’s no good reason to do so!

A virtual office is a great solution. It’s far less expensive than renting office space. So if you don’t need an actual office, it can work out rather well. Virtual offices are available in all 50 states and DC.

Here are three virtual office providers we love: Alliance, Da Vinci, and Regus. You can buy packages which include clerical services, mail forwarding, the use of conference rooms, and more. Your business can look far larger than it truly is.

Your Business Website

Credit providers, vendors, and the like will be looking for your business online. A business website is a way you can control the narrative and put your best foot forward. Your business website is one place where the following will be listed: business name, address, and phone number. This is why we suggest squaring those away beforehand, it’ll save you time.

A professional website won’t just impress lenders and credit providers. It will also impress prospects and clients. A great website can help with sales even if you don’t sell online. It is a worthwhile investment to create a good one. Get help from a place like Upwork or Fiverr to get set up and have a logo made.

Buy hosting from a provider like GoDaddy. Don’t use a prepackaged solution like Weebly or Wix. You want your website to be or, not This helps to further distinguish your business from amateurs and hobbyists.

Your Business Email

You want your business email to be on your purchased domain. Don’t use AOL, Yahoo, Gmail, or the like. Again, this separates your business from hobbyists and amateurs, in the eyes of prospects, customers, lending institutions, and more. Use a generalized email like [email protected] or [email protected]. This makes it easier for several people to work with the same email address, and you won’t have to change it if someone leaves your company.

How Long Does It Take to Build Business Credit? Account for Any Backlog at The Secretary of State’s Office

Every Secretary of State in the US keeps business information on its website. This can often include information on any grants or loans you may qualify for, now and in the future. You can get information on any licenses you need, and any continuing education you may need to keep those licenses.

Recognize that licensing takes varying amounts of time. The time to get a license also depends on your state. Some take a few days, others take weeks. Licensing isn’t just helpful to get and build business credit. You could be violating the law if you practice your profession without a license! And proper licensing is something you can tout on your website and in your marketing materials, to help build your prospects’ confidence in your business.

Get a Business Bank Account

You need to keep your personal and business finances separate. Commingling makes taxes harder, and it could trigger an audit. Many starter vendors and other credit providers require that you have a business bank account.

How Long Does it Take to Build Business Credit Credit Suite

 Check out our best webinar with its trustworthy list of seven vendors to help you build business credit, even in a recession.

Get a Merchant Account

It won’t help you build business credit. But you should still get a merchant account so you can take credit cards. Studies show people will pay more when they can pay with plastic. See

How Long Does It Take to Build Business Credit? The IRS Website Might Slow You Down

Your business needs an identification number (an EIN). Your company EIN is similar to your SSN in that it’s a unique identifier. An EIN is free and you get it during the same online session with the IRS. The IRS website is also where you select your codes.

There are both SIC and NAICS codes. SIC and NAICS codes show which kind of business you’re in. The IRS is moving from SIC to NAICS. But for now, consider both to be in play.

For example, 812320 means Dry Cleaning and Laundry Services (except Coin-Operated). If your business could fit under one or more code, choose the less risky code. Lenders and credit providers are far less likely to approve a business if they consider it to be risky. It’s the same principle as choosing your business name. You choose codes at the same time as you get your EIN and select a business entity. The IRS is also where you choose your business entity.

Your business entity decides on taxes and liability in case of a lawsuit. Incorporating means your business and personal affairs are truly separate. It’s really the only way to build true business credit. Deciding on an LLC, S-corp, or C-corp is up to you.

Work with a Corporate Lawyer

We highly recommend that you consult with a corporate lawyer to be sure of your options and make the best possible decision for your unique circumstances. And while you’re there, work with your attorney on drafting your Articles of Incorporation. Many Secretary of State’s offices will require that it be on file with them.

How Long Does It Take to Build Business Credit? Getting Your D-U-N-S Number from Dun & Bradstreet Can Sometimes be Slow

To build business credit, you must have a D-U-N-S number from Dun & Bradstreet. A D-U-N-S number + 3 or more reported payment experiences will generate a PAYDEX score. So you’ll have built business credit. See

Establishing Payment Experiences

Your credit history is one of the main factors when lenders and credit providers determine creditworthiness. Making timely payments will show anyone looking to do business with your company that you’re low risk. You can open most credit accounts online in just a few minutes. To save time and frustration, you only want vendors which will report to the business credit reporting agencies.

Vendors Which Report Will Save You Time Building Business Credit

Most vendors do not report unless you’re late making your payments. But here are three that will also report when you’re paying on time or early: Marathon at, Uline at, and Grainger Industrial Supply at

Even vendors which report may need you to reach a certain minimum spend before they will report. It can take over 30 days for reported purchases to show up on a business credit report. This is the case whether they are reporting a positive or negative payment experience.

Retail, Fleet, and More Universal Cash Credit

The steps we’re covered can take less than 6 months, and you’ll have a business credit profile and score. But that’s no reason to stop! Keep going and your business credit scores can only get better. This is particularly so as you rack up more time in business. Higher scores lead to better terms and lower interest rates.

How Long Does it Take to Build Business Credit Credit Suite

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit, even in a recession.

Working with a Business Credit Builder Company

As you might imagine, these steps take time and attention. Hiring a business credit builder company means you’ll have time to do what you do best – run your business. Vendors and other credit providers change their requirements all the time. It pays to work with a company which specializes in business credit building and keeps track of such things, so you don’t have to. Hiring a business credit builder company can be a big step. Let’s take the next step together.

How Long Does It Take to Build Business Credit: Takeaways

You can build a good business credit score and an enviable profile in half a year, not three years like many people think. Following the steps in order will assure the most speed, and the least frustration. On the way, you’ll build credibility in your business. This can lead to more sales. Be one of the 20% of all businesses which lasts 20 years or more. Let us take the steps for you so you can concentrate on your business. It pays to work with a pro.

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