fix business credit

January 15, 2018 By Tagrid Shunia Leave a Comment

Four Creditworthy Tips for a Business Loan Application

In an article in Wall Street Journal “Bankers are mystified by the sluggish expansion in corporate borrowing” If you are seeking a new business loan, here are some credit tips to help you secure a new business loan for your business. Four Creditworthy Tips for a Business Loan Application

Debt Service Ratio: Perhaps your monthly debt maybe over the lender’s guidelines, even though you are planning to consolidate most of the debt into the new business loan.

Check Your Personal Credit before You Pull a New Credit Inquiry with the Lender: You can order a three in one credit report with Equifax and not be penalized for a credit inquiry, since you are not requesting new credit. It is good to check your personal credit before you apply for any type of loan, especially a business loan; you don’t want to build up new credit inquiries on your personal credit report. Make sure your personal credit scores exceed the lender’s underwriting guidelines.

Check Your Business Credit Reports: You may have some UCC filings that have not been released off your business credit reports. Also, there could be some erroneous reporting from your trade affiliates that misreported your account status or payment history which reduces your Paydex Score with Dun and Bradstreet and business score with Experian Business and Equifax Business

Prepare: Plan a refinancing strategy before you apply for a business loan. For example: A past client wanted to consolidate his business debt and refinance his balloon note with his lender. Unfortunately, his current lender did not extend the balloon note and needed an exit strategy fast. At that time, the client’s personal credit was in the high 500s, he was unaware of how low his credit scores were and why one creditor reported him late. He also checked his business credit with Dun and Bradstreet, Experian Business and Equifax Business, two out of the three business credit reports had erroneous reporting. Not only did this client fix his personal credit before he refinanced his business, he also fixed his business credit reports prior to any additional business loan applications. This client succeeded in securing a new business loan which he consolidated his business debt and refinanced his balloon note, which saved his business over $18,000 a month.

For more information on how we can help you locally with business loan, business credit restoration and personal credit restoration in Fort Myers, Bonita Springs, Naples FL and Marco Island, 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.

September 18, 2016 By Tagrid Shunia Leave a Comment

Fixing Your Credit is as Sweet as Honey

More clients are requesting to start our credit restoration services. Two clients who just completed our credit restoration process, one is purchasing a home and the other client is refinancing his business. It has been a sweet success for our clients to overcome their personal credit and business credit obstacles; it’s awesome to watch the good transformation of our clients’ finances.

fixingyourcreditissweeterthanhoney

Credit is More Important than Ever Before

Are you frustrated or feel stuck because of your bad credit? Bad credit will not go away on its own, start by acknowledging first to check your credit and second fix your credit and settle your distressed debt. Don’t waste your money on DIY credit repair systems, they do not work, you will only frustrate the credit bureaus. Our personal credit consultations and business credit repair consultations are thorough and free, sometimes that is all what the client needs without enrolling in the credit restoration process. Carefully read what credit repair companies offer on their sites, some online credit restoration companies use a computerized software system, the system scans your credit report and kicks out your generic credit disputes, this type of restoration does not work. Make sure the credit restoration company you select is completely hands on. Choose a credit repair expert who has years of experience in restoring personal credit and business credit. Make your credit repair a sweet success by contacting us today.

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For more information on how we can best serve your customized credit repair and business credit repair in Naples 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 on our Testimonials page.

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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 16, 2015 By Tagrid Shunia Leave a Comment

Fixing Business Credit and Personal Credit Who What and Why

If you’re a small business owner, you understand that it is important to keep good business credit and personal credit. Who and why should a small business owner trust to fix their business credit or personal credit? Good question, what company you would choose:

Company A: There are a number of online generic credit restoration companies that use software for computer generated credit disputes. Besides having a computer system scan your credit report and spit out your credit disputes, you also have to pay a non-refundable processing fee, a setup fee, and the monthly fee, the credit consultation is not free.

Company B: There are very few small credit boutique firms that use hands on, thorough credit disputes which are processed manually because not every person has the identical credit issue, each person is different. Our credit dispute techniques are very thorough and much tailored for each client’s circumstances, whether it’s fixing business credit or fixing personal credit.

What is the correct answer? The answer is company B. you don’t want to waste time or money with a company that will take your credit report, scan it through a computer software system, spit out the generic disputes and charge you the junk fees without even providing you a free credit consultation.

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):

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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.