About Industry

Business Owners Beware!
Before associating yourself with a Business Credit Building Company, discuss these (6) vital issues to help choose which company to work with

Issue One
Beware of the “Guarantee of Cash” statements. Especially if they claim it’s an unsecured, no personal credit used, no personal guarantee or signature required type of financing scenario. What exactly are they telling you? That there is a warehouse full of cash you just stroll into, take the amount you want and off you go just because you have a corporation. At the door your mysterious and generous lender tells you please don’t give me any financials, any background on your personal credit, any guarantees of repayment or personal signatures. Just try to pay me back if you can and have a nice day. Is that what they are telling you? Come on people, get real!

Ask the $40,000 per year salesman you are talking to if this is so simple, why are you working for someone else? If you merely open a corporation, obtain a credit score and receive all this easy money, and you know how to do it, why aren’t you?
That should be fun for you to here them sputter, spit and lie their little tales off!

Real legitimate lenders decide on loan amounts and terms ONLY after doing due diligence and going through their underwriting process. And if there was such a lender requiring no documentation, no guarantee, no personal signature and no collateral, wouldn’t you expect them to be much harder to obtain capital from? Wouldn’t they look into your business finances even deeper than traditional lenders? Their risk is much greater than a traditional lender, wouldn’t you agree? If this is what you are being told, hang up the phone immediately. You know what they are after! Come on people!

Nobody should be telling you that you will receive X amount of cash credit. This is the tip off to a scam. Nobody can guarantee a definitive or finite dollar amount you will obtain. Not even the bank! First of all it is against the law to guarantee a loan. Secondly, how in the world can someone tell you how much you will receive without looking at your businesses finances? How do they know you have the financial capacity to pay it back? They don’t, but you knew that already.

Run; don’t walk away from these types of companies. Unless I am the one handing you the money, I can’t guarantee what a third party will issue to you and neither can they. They are just throwing out numbers to get you to sign up in their program. Please don’t fall for their “private investors” or “secret “funding sources either.  They don’t have any. You either qualify for funding or you don’t! Everyone wants to be paid back and only going through an underwriting process can determine this.

Real legitimate lenders decide on loan amounts and terms ONLY after doing due diligence and going through their underwriting process. The underwriting process requires they review financial information to establish the ability to pay. There are very real although limited business credit cards that you can obtain with no social security number used. We at Silver State Funding Services will help you obtain these.

But large amounts of unsecured capital from lending sources with no personal guarantee, signatures, credit history checks and no paperwork required are a fallacy. But you already know that. Don’t get sucked in to this “magical money” source BS.

Then there are other companies that boldly guarantee you will get a “cash line of credit or we will refund your investment in full”. Here is how this scam works. If they can’t perform, and they can’t, all they need do is issue you a cash-line themselves. Mr. Business Owner, “you have been approved”! You have a $100,000 dollar cash line with my company? What would you like to buy from me today on credit? They told you they would obtain guaranteed cash line for your business and they came through. That’s right! There are companies out there that do this.

Issue Two
Make sure you are not purchasing a book, CD Program, guide, course, etc. Building Business Credit is a process that must be completed in a certain sequence of proven steps in order to successfully establish your business credit profile and score. If not done correctly, you can “red flag” your business and end any chance of obtaining financing. I am sure if you knew the particulars of building business credit you wouldn’t be looking for professional help. There is not a lot of professional help out there. There is however a bunch of sales organizations that barely know how to help you obtain business credit on-line. Make sure you receive step by step instructions from an experienced business credit professional. Most credit building companies have un-experienced so called “coaches” new to the industry or worst yet,  your “coach” came from their sales department because they couldn’t sell. You must have a professional lay the foundation of business credit for your company and build upon that solid foundation. That is exactly what you can expect from Silver State Funding Services. All of the business credit professionals at Silver State Funding Services are business owners or previous business owners that have gone through the credit building process themselves. You will work directly with the ownership of Silver State Funding Services.

Issue Three
Many fine companies only offer to establish trade or vendor credit. Make sure you ask if you will receive any cash credit lines of credit and pay close attention to how they answer this question. Although vendor credit is very advantageous to a small business owner’s cash flow, it is limited in the respect that you can only purchase products they sell such as office supplies, shipping supplies, cell phone service or computers, etc.
Vendor credit should be a part of every program but ask if you will be obtaining cash lines of credit too. There are times when only cash will do. Silver State Funding Services helps clients obtain all kinds of business credit  and capital such as trade and vendor credit, business credit cards, traditional business loans, SBA business loans, business lines of credit, equipment leases and over (50) alternative funding options.

Issue Four
Are you speaking with a company that specializes in corporate credit building AND financing?
There are Business Credit Building companies that are operating solely as a lead generation system for unscrupulous corporate raiders looking for the “golden nuggets” in their database. That’s right! One of the biggest credit building companies advertising online is a sales organization only that doesn’t even handle the fulfillment of their product. They are strictly a sales organization.

These types of companies are looking for your good cash flowing company in an industry such as Technology, Healthcare, “Green” or any other industry flavor of the month that is currently a hot commodity. If they offer services of how you can utilize your capital for investment purposes beware. This is what they were looking for all the time. The time they took to have others gloss over establishing a corporate credit profile was just a vehicle to get inside information for the “private investors” they would like you to speak too.

These private investors of course are part of their organization in some capacity and they are looking to infuse some of their capital into your business for a slice of the pie or more specifically a percentage of your business. It may sound good at first but once in your business they operate as quickly as possible to separate you from the business you started. The more successful your business, the more pressure they put on you. These are professional small time venture capitalist (referred to as vulture capitalist) looking for easy prey.

If you don’t know what to do with capital why were you looking for funds in the first place? Always have a solid business plan on how to use your funds to move your business forward. Don’t let them “help” you invest your money.  They are guiding you to invest in another business venture they have control over. They are using your funds to finance their business.

If you really need help deciding what to do with your capital, seek professional advice from a third party. Silver State Funding Services will help you obtain the capital you need but do not sell you on investment vehicles we control.

Issue Five
Make sure the company you are looking to hire to help you obtain business credit is compliant themselves. One of the most fundamental aspects of obtaining corporate credit is being compliant. Don’t worry if you don’t know what compliance is at this time. Every business credit company you speak to will mention compliance. Ask them how long they have been in business. Ask them what state they are incorporated in. Look at the secretary of state’s (SOS) website and pull up that company.
(Link for all Secretary of State web-sites: http://www.secstates.com/)

Did their answers match the SOS records? Can you find them in a search on Yahoo or Google? Call the local 411 information (area code + 555-1212) and ask for the company. Was the operator able to find the business and give you their phone number? Any legitimate credit building company will pass with flying colors. If not, how do you expect them to help you if they can’t even help themselves? We at Silver State Funding Services welcome you to do your due diligence on us.

Issue Six
Beware of the “Guarantee Trade Lines” or “Shelf Corporation” non-sense statements

There are companies out there that want to sell you an expensive Shelf or Aged corporation for thousands of dollars that will supposedly guarantee you cash money, sometimes in the hundreds of thousands of dollar range. If it’s too good to be true it is. The age of a corporation is only ONE of the criteria an underwriter will look at, not the only one. What good is a five year old corporation that can not provide financials or show any profits? Lenders will ask you for your business tax returns if you are seeking funding. If you have been in business five years, why can’t you produce tax returns? The fact that you can’t is a major red flag to any lender. Don’t fall for this scam! A one year old cash flowing business has a much better chance at obtaining capital than a five year old corporation with no tax returns or income!

Again, ask the $40,000 per year salesman you are talking to if this is so simple and easy, why are you working for someone else? If you merely open an aged corporation, obtain a credit score and receive all this easy money, and you know how to do it, why aren’t you?

If someone is offering to sell trade-lines or a business with financials, hang up the phone now! These companies sell the same trade-lines to all their customers (which is illegal) and the Business Bureaus like Dun & Bradstreet have already “red-flagged” these trade-lines and now your business will never get funding. Ask the salesman for a trade line name you are looking to purchase then contact Dun & Bradstreet to see if it is already red flagged. Oh, they won’t give you a name unless you pay first………
On top of that if you were ever to obtain capital (you won’t) utilizing these trade-lines and you sign your name to the loan documents, you are committing fraud! Yes Fraud!!

You know you didn’t setup and obtain these trade lines legitimately.
If the funding source ever finds that they provided funds under false or fraudulent circumstances, they will call in the loan, press charges and you will get a possible fine and/or prison sentence. Don’t fall for this B.S.  

**At Silver State Funding Services we have experienced Certified Cash Flow Consultants and Trained SBA Consultants on staff to serve you. That’s right! We have real experts in financing in house! None of our competitors can say that.
We are associate members of NAGGL (National Association of Government Guaranteed Lenders) and members of the American Cash Flow Association. Our financing experts have well established working relationships with traditional banks, SBA lenders, private investment firms, venture capital firms, and 50+ alternative financing lenders to fund you.  Let us get you the capital your business is looking for.
Go to our FREE business credit analysis page and fill out the form today! As soon as we evaluate your analysis, we will provide you with a written analysis overview and call you to review it.

Find out upfront what kind of financing you’ll receive before paying a single penny!