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Articles from Kim Carpentier | Selfgrowth.com
- CHECK YOUR CREDIT REPORT FOR INACCURACIES - by Submitted on Aug 02, 2016 from Kim CarpentierFICO is “COLD”….And Justifiably So? FICO is a credit scoring system developed by Fair, Isaac and Company and has become the industry standard in the credit world. Lenders use FICO because it gives them a consistent, data based evaluation of a credit file and it’s fast. In ...
Views: 753 - CHECK YOUR CREDIT REPORT FOR INACCURACIES - by Submitted on Aug 02, 2016 from Kim CarpentierFICO is “COLD”….And Justifiably So? FICO is a credit scoring system developed by Fair, Isaac and Company and has become the industry standard in the credit world. Lenders use FICO because it gives them a consistent, data based evaluation of a credit file and it’s fast. In ...
Views: 692 - Three Business Credit Myths Debunked - by Submitted on Jul 25, 2016 from Kim CarpentierA 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 ...
Views: 639 - Business Credit Benefits You Should Know About - by Submitted on Jul 11, 2016 from Kim CarpentierA Personal Guarantee is “by making a guarantee you are putting yourself - and your assets - on the hook, by acting as the loan's cosigner. If your business dissolves, you will be responsible for repayment. Creditors will go after you in the event that your business fails to repay the ...
Views: 962 - Business Funding Options - by Submitted on Jun 20, 2016 from Kim CarpentierThere are many sources that offer business funding today. Knowing the different options will help you find the best funding solution(s) for your business. Here are a few: Business Charge and Credit Cards are a fast and easy way to access cash for business. You can use the money for any ...
Views: 904 - Free Credit Scores – Confusion and no relevance. - by Submitted on Jun 13, 2016 from Kim CarpentierEverybody has seen the commercials for free credit scores. While these scores can be called credit scores, most creditors do not use them during the approval process. The DOMINANT score, that 90% of all creditors use, is called FICO. Named for the company who developed the scoring model, Fair ...
Views: 1026 - Experian's Intelliscore - by Submitted on Jun 06, 2016 from Kim CarpentierExperian’s most recent score system released in 2008 is known as Intelliscore Plus, which they boast is the next level in credit scoring. Intelliscore Plus takes into account hundreds of variables to offer a business score between 0-100, with 100 being the highest. Intelliscore actually ...
Views: 1556 - Why Are FICO Credit Scores Different? - by Submitted on Jun 01, 2016 from Kim CarpentierMost consumers wonder why their FICO credit scores are so different. If you apply for a car loan, your scores will be different than if you are applying for a mortgage. Many people wonder why these scores are so different. There are many different scoring models available through ...
Views: 1366 - You should use Business Credit for business expenses. - by Submitted on May 23, 2016 from Kim CarpentierA lot of small to medium-sized business owners use credit cards in course of business. The problem is, many make the mistake of their personal credit cards. There are a couple of major problems with this: • First, if you use your personal credit cards for your business you are ...
Views: 968 - The Importance of Establishing a Good Business Credit Score. - by Submitted on May 16, 2016 from Kim CarpentierEstablishing a good Business Credit Score is sometimes the only method by which a business can get credit. Many owners have been taken task, on their personal credit score, and building a good Business Credit Score presents a lifeline to access credit for their business. Here is a breakdown of ...
Views: 1331 - Types of available Small Business Credit. - by Submitted on May 09, 2016 from Kim CarpentierIt’s all about Cash Flow!.....Most Small Business Owners do not realize that there is a massive amount of financing options currently available for small businesses to help them enhance their cash flow. Business credit is one financing type that works perfect for many businesses. Here are ...
Views: 1444 - Apply for an Instant 20% off - NAGI! - by Submitted on May 02, 2016 from Kim CarpentierEvery major retailer is offering an additional instant discount if you arewilling to apply for their branded credit card. On the surface, it sounds like a great idea….I buy $100 worth of stuff and they give me an instant 20% off. Twenty bucks and I had to do was apply for a credit card…..This ...
Views: 1467 - Re-negotiate Your Credit Card %. - by Submitted on Apr 18, 2016 from Kim CarpentierMany credit card issuers charge interest rates as high as 30% interest (APR) or higher. And most people do not realize that you can negotiate with your credit card company for a lower rate, especially if you've had any of your credit cards for a long time. To do this, all a consumer needs to ...
Views: 1277 - Review your Credit Card Statement! - by Submitted on Mar 28, 2016 from Kim CarpentierYou should review your credit card statements for several reasons: to verify transactions and payments; pay attention to the due date; look for fees and penalties; and note credit line/ limit and credit available. Transactions and payments Verify the transactions on your bill including ...
Views: 1279 - Does Wal-Mart Need Business Credit? - by Submitted on Mar 21, 2016 from Kim CarpentierWhen we think of Wal-Mart one of the last things we think about is a company who needs business credit and funding. In reality, Wal-Mart does use business funding and has over 520 open business credit accounts active. Wal-Mart doesn't need the money. But like most Major companies, they use ...
Views: 1361 - Some of your Rights under the Fair Debt Collection Practices Act (FDCPA) - by Submitted on Mar 14, 2016 from Kim CarpentierHere is a brief review of your rights under the FDCPA: •It details a person’s right to request more information about the alleged debt. The procedure is called debt validation and it’s a powerful intervention that we will be explaining in greater detail. Until then, understand that debt ...
Views: 1450 - Business Credibility is essential for Credit & Funding! - by Submitted on Mar 07, 2016 from Kim CarpentierOne big reason many people fail building business credit is that their business isn’t setup credibly in the credit issuer’s eyes. The perception lenders, vendors, and creditors have of your business is critical. Before applying for business credit a business must ensure it meets or exceeds all ...
Views: 1417 - Inventory Financing - by Submitted on Feb 29, 2016 from Kim CarpentierInventory financing is bank line of credit secured by the company’s inventory as collateral.With inventory financing, the borrower receives a loan in order to purchase inventory. The purchased inventory is then used as collateral against the loan. This is a great finance option for business ...
Views: 1417 - Getting Suppliers To Report Credit - by Submitted on Feb 22, 2016 from Kim CarpentierIf a particular supplier doesn’t show up on your business credit reports, it probably means that they are not reporting your payment history. Not all suppliers and vendors report credit, and some that do, fail to do it consistently. If you’re building business credit, every bit of positive ...
Views: 1548 - Keeping Business Credit and Personal Credit Separate - by Submitted on Feb 01, 2016 from Kim CarpentierIt’s important to keep your business and personal finances separate for a variety of reasons. One area where you’ll want to keep this separation as much as possible is in the area of credit. With that said, it can be difficult to get credit for a small business without a personal guarantee or ...
Views: 1249 - Multiple collection agencies for 1 account. - by Submitted on Jan 25, 2016 from Kim CarpentierCollection agencies make their living by collecting debt. They typically have little regard for reporting information correctly until they are forced to. There are different types of collection agencies; they will usually specialize in a certain area of collections like junk debt or ...
Views: 1338 - The 4 C’s of Business Lending - by Submitted on Jan 18, 2016 from Kim CarpentierIf you’re looking for money for your business, than you will be happy to know, you only need one “C” to qualify. When lenders are look to see if a client is fundable, they are looking for one of the 4 “C’s”. •The first C is Cash Flow. When you have an existing business, with good cash ...
Views: 1178 - How to Raise Your PAYDEX Score. - by Submitted on Jan 11, 2016 from Kim CarpentierOne of the most important sections of your D&B Business Credit Report Is the payment summary section. There are two scores in this section that Are critical to the report and can separate a good report from a bad one.While the two scores – the PAYDEX score and the PAYDEX score key Are ...
Views: 1493 - What Makes Up Your FICO Credit Score? - by Submitted on Jan 04, 2016 from Kim Carpentier95% of all financing decisions for individual funding i.e.: Mortgages, Vehicle loans, Credit Cards, etc. are dependent on your FICO credit score. I emphasize “FICO” because all other credit scores as nice BUT really insignificant in the financing world. Your FICO credit score is determined by ...
Views: 1124 - Three Business Credit Myths Debunked - by Submitted on Dec 17, 2015 from Kim CarpentierA 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 ...
Views: 1102 - The True Costs of Bad Credit! - by Submitted on Dec 17, 2015 from Kim CarpentierBad credit can cost you thousands of dollars a year in excessive interest charges. The difference between living life and struggling to survive is based completely on credit quality. Let’s look at a car as a simple example. Most people in today’s society need a vehicle to get around. A ...
Views: 1162 - Some Advantages of Business Credit! - by Submitted on Dec 09, 2015 from Kim CarpentierIf you are like most small business owners, growing your business is both hurting your personal credit and draining your resources that can be used for your personal expenses. According to a study done by the SBA, 92% of all business loan applications are done based solely on the merit of the ...
Views: 1135 - Building a Credible Business Credit Profile - by Submitted on Dec 04, 2015 from Kim CarpentierBuilding a Credible Business Credit Profile will give a funding source a proper view of your business. Your “Internal Reality” needs to be your “External Perception”. Internal Reality = External Perception Stop presenting your business as a Hobby. Getting funding sources to give you money is ...
Views: 1187 - Even Small Business Owners Should Utilize Receivables Financing - by Submitted on Nov 30, 2015 from Kim CarpentierA Receivables Financing or "invoice factoring" is a great way for a business to get money. Accounts receivable financing is not a loan; it's an advance against client invoices. These are a great funding option as they provide an immediate advance of cash to you leveraging your outstanding ...
Views: 1086 - A Few Words About Vendor Credit - by Submitted on Nov 18, 2015 from Kim CarpentierVendor credit is a very useful type of unsecured credit for businesses, both for managing cash flow and for building credit. Most vendor credit accounts have terms of 7, 10, 15, or 30 days. Some longer terms do exist, and there are even revolving vendor credit accounts, that don’t have to be ...
Views: 1149 - What to do when Denied Business Credit - by Submitted on Nov 12, 2015 from Kim Carpentier• Your business profits. Does your business have a healthy profit margin? Improving your profits by reducing and trimming down the operational excess and unnecessary business spending can help improve profits and boost your chances of getting approved. • Your business profits. Does your ...
Views: 1025 - Equipment Leasing - by Submitted on Nov 10, 2015 from Kim CarpentierDuring a past life of owning a copier sales and service company Equipment Leasing was the preferred manner of purchase for over 90% of our equipment sales. Over 80% of U.S. businesses use equipment lease financing to acquire equipment for their businesses. Using Equipment Leasing improves your ...
Views: 1210 - Three Business Credit Myths Debunked - by Submitted on Nov 04, 2015 from Kim CarpentierObtaining credit for your business with no personal credit check and no personal guaranty is very appealing. One might say this is the holy grail of owning a business, being able to obtain massive amount of funding using the business itself as collateral. There are many steps to building an ...
Views: 948