Finance Products for Business Owners

June 3, 2016 By Tagrid Shunia Leave a Comment

Two Easy Tips for Business Credit

Most existing businesses have or had some type of credit glitch or glitches during their operations. These quick tips may help a new business or existing businesses

New Business Credit

Try to do your best not to utilize your personal credit for business purposes. What I highly recommend to new businesses is by starting off with a small alternative business loan like a small merchant cash advance loan or a secured small business loan; this will help you establish your business credit score and payment history quickly with Dun and Bradstreet, Experian Business Credit and Equifax Business Solutions

Seasoned Small Business Owners

If you are an existing business, I highly recommend purchasing the monthly monitoring programs with Dun and Bradstreet and Experian Business Credit, it will cost your company roughly $100.00 a month between the two subscriptions. In addition, it will save you grief down the road if a trade or lender is not reporting your information correctly. With Equifax’s Business Solutions, you have the option to call in and order a business credit report and mail it to your business or you may order a copy online.

For example: A small business owner owns four business cars that he personally guaranteed; the lender erroneously reported some late payments on his personal credit, which we restored. The owner and my company called to verify if the auto lender also reported the erroneous late payments to the client’s business credit, sure enough they did report him incorrectly to all three business credit reporting agencies. We prepared the disputes to Dunn and Bradstreet, Experian Business and Equifax Commercial Information’s Solutions and provided all three copies of the cancelled checks to prove that our client was not late and update the payment history on his business credit report.

For more information on how we can help you locally fix your business credit and personal credit locally in Cape Coral FL and Fort Myers FL please fill out the online contact form about your concerns or give us a call at 855.477-9007. Read what our valued clients have to say about First Pro Capital and Credit Consulting Experts on our Testimonials page.

March 1, 2016 By Tagrid Shunia Leave a Comment

Four Reasons Why You Did Not Get Approved for Credit

One disappointing feeling is you know you have decent credit but get declined for new credit. Here are four reasons why you may have been declined for credit:

Not Enough Credit History

A recent client is new to this country; she speaks English very well and has done great with her new business. This small business owner had only one credit trade line; she was not late but was over her limit. The client paid off the amount owed and we disputed the high balance that was reported which brought her scores down with the credit bureaus. Her credit became impeccable again but there is not enough credit. I suggested she open new credit after she completes her finance with her small business loan.

Too Many Credit Inquiries

A recent client of mine had 700 plus credit scores; she cosigned for a car and didn’t realize the inquiries would affect her credit scores. Unfortunately, this client is an older adult and was taken advantage of by her so called friend and the dealership. It wasn’t necessary for the car dealership to pull that many credit inquiries because my client had impeccable credit. There have been numerous cases in Florida when an older adult gets taken advantage of with their credit.

Utilizing Most of Your Available Credit

Another client of mine did not have bad credit but utilized most of his credit lines. I asked the client why is he maxed out on most of his credit cards, he explained that most of his credit card companies reduced his credit limits for no reason. This client had no late payments with any of his credit cards but was penalized by reducing his credit limit which caused his credit scores to go down. On his credit report, it shows this client utilized more than 90% of his credit limits. To fix this issue, my client immediately reduced his credit card debt by 50% and this simple step increased his credit scores immediately.

Recent Late Payment History

A current client would like to refinance his business; unfortunately, a couple recent late payments on his credit report disqualified him for a small business loan. I asked the small business owner if the late payment claims were correct, he said no. We disputed not only the late payments but also the duplicate accounts that had the poor payment history. This client is completing his credit restoration process and immediately after, he will apply for his small business loan.

For more information on how we can help you fix your business credit and personal credit in Naples FL and Fort Myers FL and Bonita Springs FL please fill out the online contact form about your concerns or give us a call at 855.477-9007. Read what our valued clients have to say about First Pro Capital and Credit Consulting Professionals on our Testimonials page.

November 1, 2015 By Tagrid Shunia Leave a Comment

Why Lending Institutions Hire Us to Restore Credit

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Whether it’s a commercial credit lender or retail banker, they trust our work and services to help customers restore their personal credit and business commercial credit. This company has built trust with a number of lending institutions; therefore, they refer us to their valuable clients for credit help.

There are many online credit restoration companies that use a computer software system that scans your credit report, formulate disputes and consider it credit restoration. This type of system is not only generic but also a waste of time and valuable money; you also aggravate the credit bureaus. Our credit restoration process for business credit repair and personal credit repair are hands on, manually processed, and not one client has an identical credit repair solution from the other.

For Example: One client had a judgment and collection for the same debt; you cannot have an open judgment and open collection for the same debt. My company called the attorney’s office, settled the judgment, however, the collection agency was reluctant to release the judgment with the county. Later, my company spoke to the executives at the collection agency informing their process is incorrect and it was a must to release the judgment. Finally, the collection agency released the judgment with the county. A generic online credit restoration company involve themselves for hands on credit solutions. It’s impossible, unless you hire a credit attorney who charges more than us.

For more information on how we can locally help you fix your business commercial credit and personal credit in Naples FL and Fort Myers FL and Bonita Springs FL please fill out the online contact form about your concerns or give us a call at 855.477-9007. Read what our valued clients have to say about First Pro Capital and Credit Consulting Professionals on our Testimonials page.

October 26, 2015 By Tagrid Shunia Leave a Comment

Business Commercial Credit Scores Can Also Contain Erroneous Information

Business Commercial Credit Scores Can Also Contain Erroneous Information Not only do personal credit reports contain erroneous credit information, but also business commercial credit reports. If you are a small business owner, it is important to maintain personal credit and good business commercial credit. In addition to maintaining decent personal and commercial credit, a business owner should keep the business credit and personal credit separate. If you’re a sole proprietor or a business owner with 20 employees or less, your personal and business credit scores are closely linked in the eyes lending underwriters.

In keeping your personal credit separate from your business credit, you can secure one or the other if one of the two falls into delinquency. For example: You have an investment property with a partner, the investment property becomes delinquent because your partner failed to pay the mortgage. The delinquent mortgage will only report on your personal credit and will not report on your business credit because the mortgage was reported under your personal credit, even though the property was titled under an LLC.

A quick and easy way to keep track of your personal credit and business commercial credit is credit monitoring; this is a helpful tool for both business credit and personal credit which provides email alerts and up to date credit reporting.

We recommend the following companies for credit monitoring (not a paid promotion):

~ Allow our team of professionals to assist you!

September 13, 2015 By Tagrid Shunia Leave a Comment

Business Owners Need Good Business Credit and Personal Credit

Business Owner Need Good Business Credit and Personal Credit

I am pleased to say majority of our customers are self-employed small business owners. Working with self-employed small business owners is great! You can always check your business credit by ordering a business credit report with Experian Business Dun and Bradstreet and Equifax Business , which is highly recommended. If you find any flaws or concerns that appear on your business credit report, simply email or contact me for a free credit consultation. Our credit consultations are always free and very thorough! During the credit restoration process, there are step by step guidelines that customers need to maintain; otherwise you won’t get the credit results that are anticipated or achieved:

No new credit inquiries
No new credit, this includes increasing your credit card balances
No new late payments or collections during the credit restoration process
Monitor your personal credit with Equifax or Experian

Also, keep your personal credit cards separate from your small business expenses.

For more information on how we can locally help you fix your business credit and personal credit in Naples FL and Fort Myers FL and Bonita Springs FL please fill out the online contact form about your concerns or give us a call at 855.477-9007. Read what our valued clients have to say about First Pro Capital and Credit Consulting Professionals on our Testimonials page.

June 23, 2015 By Tagrid Shunia Leave a Comment

Attorney Compelled to Help With Credit

An attorney was frustrated with his client’s file and gave his credit problem client to our company. attorney compelled to help with credit After interviewing the client, sending extensive audits and reviewing their responses, our company was able to remove her two bad mortgage accounts.

There was not much leverage to work with this client’s bad credit. One of the two lenders, in their correspondence, verified the account was opened and closed at a certain date which was not the same date as they reported on the credit report. In their correspondence, the lender also vaguely disclosed how many late payments were reported, therefore the account was completely deleted off the client’s credit report. Her other mortgage account was open for 18 months, it was on the same property this client foreclosed on, and it was the last lender with her foreclosure process. Again, our company verified the late payments and the late payments did not equal to the duration of the account when it was opened and closed, therefore, the account was deleted with the credit bureaus.

The final result, the client is financing her new home which she wasn’t supposed to be shopping for a new home in the first place based on her credit and credit scores. Her attorney was compelled to help her and called our company because he did not want his client to lose her $30,000 earnest money deposit.

If you would like to see a copy of our results please call and also receive your free thorough credit consultation for business credit and personal credit.

June 23, 2015 By Tagrid Shunia Leave a Comment

A Free Credit Consultation Solved Problem

A potential client was referred to us to improve his credit scores. The client contacted me and sent me a copy his three merge credit report. After reviewing his credit, the client did not need credit restoration services but only credit advice. The potential client had impeccable credit meaning he had no late payment history, no collections, no charge offs or judgments which categorizes someone’s credit impeccable.

The problem with this client credit was his spending, he was over his limit with many of credit cards which brought his credit scores down. To solve his credit score issue, I asked the potential client to pay down the two credit cards by 70% so he can increase his credit scores and get approved for a Small Business Loan. My credit advice which is the thorough credit consultation was absolutely free and this potential client couldn’t be happier knowing I told him the truth which was not necessary of purchasing credit restoration which he didn’t need. However, we have clients with the same issue and want us to update their accounts with the credit bureaus, regardless if it seems as an easy fix to them.

Example Two: Another potential client called us on a troubled debt, it was a collection. The potential client was willing to borrow against her 401k to get rid of her $30,000 collection. After the free credit consultation, the creditor counter offered our offer to $15,000 which my client could not afford the full payment in advance. Instead, the potential client turned down the offer but I made her aware at any time the creditor may forcefully demand the full face value of the payment. Again, this consultation was at no charge and the potential client was content of consultation, even though she did not enroll with our credit restoration process.

Example Three: A business owner was seeking business credit restoration, I asked the client to order his business credit report through Experian Business, the business owner wanted to fine tune his business information and one court judgment that was released. Within two weeks, my client’s Experian Business score went up from fair to good, not to mention his Dun and Bradstreet Paydex score and his Equifax Business score. Now, my client has the ability to purchase another business.

For more information on how we can help you fix your business credit and personal credit locally in Hollywood FL please fill out the online contact form about your concerns or give us a call at 855.477-9007. Read what our valued clients have to say about First Pro Capital and Credit Consulting Professionals on our Testimonials page.

March 27, 2015 By Tagrid Shunia Leave a Comment

A Commitment is needed to Restore Your Credit

Most of our clients are self-employed small business owners, real estate investors and independent contractors. Our clients who commit to our credit restoration process are very determined and committed to fine tune or fix their personal credit or business credit or both. For Example: A small business owner downsized his business; he closed one of his store fronts. Our client was determined to get his scores back up in the 700s. Our client did not mind the continuous rapport with the banks and lenders that reported him erroneously late. It was a difficult case because he was misinformed by a mortgage banker which resulted in unnecessary late payments. Within two months our dedicated client went from a 525 mid score to a 693 middle credit score, he had not seen his credit scores up like this for two years because of the horrible advise he was given by the mortgage banker. We have a few more accounts to work on, but now his new credit scores give him leverage that he did not have before for new business credit and new personal credit

Keep good personal credit and business credit, it is the key to a business’ longevity, even though you had a distressed situation, you can fix or fine tune your personal credit and business credit to look good again.

March 3, 2015 By Tagrid Shunia Leave a Comment

Q’s and A’s on Paying a Collection Account

Question: I am applying for a short term business loan for my business and I was just notified by my bank representative that I have a collection account which is reporting on my business credit. I have called the creditor numerous times to negotiate some type of settlement but they refuse, so now what?

Answer: Is the business collection with a collection attorney or is it with a collection agency? Usually, collection attorneys rarely settle well, you’re better off settling the collection account with a collection agency than a collection attorney. If the collection agency refuses to settle, our recommendation is to hire a third party credit expert like us who will handle settling the debt and fixing the credit rating on your business credit report. Even though the collection is a business account, if you signed a personal guarantee, chances are the collection will appear on your personal credit too.

Question: I have three medical collection accounts on my personal credit; however, the medical collection agency refuses to take a settlement offer, so now what?

Answer: More and more medical collection agencies are refusing to settle medical collections for less, it is in the contract between the medical facility and the collection agency when they are hired to collect the debt. Unfortunately, this has become more of a common practice with medical collection agencies, especially with accounts that owe between $500 -$1000.00. Our approach to these types of collection conflicts is hands on, we approach the collection agency with the client to re-mediate the debt, if this approach does not work, we later execute a credit audit, which successfully works.

For more information on how we can help you fix your business credit and personal credit locally in Palm Beach and Palm Beach Gardens FL please fill out the online contact form about your concerns or give us a call at 855.477-9007. Read what our valued clients have to say about First Pro Capital and Credit Consulting Professionals on our Testimonials page.

~ Allow our team of professionals to assist you!

December 4, 2014 By Tagrid Shunia Leave a Comment

Commercial Hard Money to Loan or Not to Loan is the Question

Commercial hard money does not fit everyone’s purpose for commercial real estate financing.

Not to Loan Commercial Hard Money

We have teamed up with national lenders in assisting us with our customers with commercial financing If you have decent credit scores and enough equity in your property to finance, a conforming commercial loan with a low interest rate would best fit your circumstances. Even if you are a few points away from conforming commercial financing, we suggest fine tuning or fixing your personal credit instead of first considering commercial hard money.

If you are seeking the best financing options for commercial lending, your credit score requirement for conventional financing would start at 680 or better. If you do not have the credit score requirement of 680 or better, a minimum credit score of 625 with equity will work for your alternative commercial lending transaction.

To Loan Commercial Hard Money

For Example: A recent client of ours had a 640 credit score, he was approved for a commercial hard money loan for his mixed use property. The key factors of this loan approval were:

1. The property was free and clear, there were no existing liens on the property.
2. The client had past good mortgage history
3. The client requested only a 25% loan to value on the property

Making this loan sounds easy, however, it was not, there were other obstacles in this transaction, however, we worked well with lender who approved this transaction

Please send us your commercial loan scenario, whether it is conforming or non-conforming commercial financing. We work with popular nationwide lending institutions who have been in business for decades and ready to work for you. We take no upfront broker fees for business loans or commercial real estate loans. Consultations are free.

For more information on how we can help you locally with commercial lending in Naples FL, Bonita Springs and Fort Myers please fill out the online contact form about your concerns or give us a call at 239.260.4602 . Read what our valued clients have to say about First Pro Capital and Credit Consulting Experts on our Testimonials page