Pat Gage Discusses Credit Options and Business Start-up Loans

Keeping business and personal credit separate; start up loans and the SBA

One considering starting a business would be surprised by the financing options available to business before opening the doors. Pat Gage attended a meeting where he explained the three basic things needed to get credit for business start-up.

The first thing he covered was to register the business as a legal business entity, not a DBA. Second, one should have a business phone listing that matches their business’s physical address. Lending institutions use the national 411 directory to verify this information. And the third thing is to develop a line of credit with vendors and service providers.

Of course people began questioning already, saying “but, I need the money from the loan to do these things!” Pat explained that lenders understand this and offer credit for business start-up. To get this type of loan, one will need a sound business plan that shows how they intend to spend the start-up money (equipment, staff, computers, utilities, etc.). The plan will also have to show how the business will make money with the financing from their loan. A good source for these types of loans is the SBA. They will require a good personal credit rating in the beginning; there may be programs for bad credit business loans as well.

Pat covered obtaining business credit cards by using only business information. To build your business credit, get business credit cards with the business name on it. It is very important to keep personal and business credit separate.

It is a good idea to apply for a business line of credit, even before paying off the initial start-up business loan. By establishing this additional business credit line, the business has some financial protection should they need it in the future.
Pat covered the many options available for financing business and obtaining credit lines. There are many types available; all are covered on his free CD, Ten Steps to Money. “I have used Pat’s program and it works,” said Mark Maupin of The National Real Estate Network. “I wish I would have had Pat’s program when I first began investing in real estate,” said Mark.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty - starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach, but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

Contact:
Destiny Now, LLC
33006 7 Mile Road Suite 423
Livonia, MI 48152
Phone: 734-261-0688
Toll Free: 877-262-0688
Fax: 734-422-6168
Email: info@opportunitycreator.com
This press release was submitted by Right Now Marketing Group, LLC

Destiny Now, LLC
33006 7 Mile Road Suite 423,
Livonia, MI 48152
info@opportunitycreator.com
Phone: 734-261-0688

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

This release was published on openPR.