<![CDATA[Credittude Credit Repair - Blog]]>Tue, 07 Apr 2020 09:50:04 -0700Weebly<![CDATA[Why Purchase A Shelf Corporation For Business Credit?]]>Tue, 03 Mar 2020 16:38:35 GMThttps://credittude.com/blog/why-purchase-a-shelf-corporation-for-business-credit
Who needs business credit? We can help you get it

Why, exactly, do you need business credit for your company? We’ve got the answers here – business credit works for all business and not just brick and mortar companies!

Why get business credit from the start?

If you’ve got an EIN, then the Internal Revenue Service states you’ve got a business. Yet if you only have personal credit, then you’ll be responsible for your company’s debts, and its tax obligations. You’ll even be on the hook for its bankruptcy, if that happens.

You do not want this. Split business from personal credit and it will not be a problem.
And in particular, fleet credit will specifically help your trucking business. And gasoline credit cards will, too. We all know how expensive it is to fill up the tank these days.

How Do I Build Business Credit? The Relationship Between Fundability and Business Credit

Business credit is important to the fundability of your business.

​However, it is not the sole source of your business fundability. A foundation of fundability is necessary for business credit, and business credit is necessary for fundability. If you have poor business credit, your business cannot be fundable.

Likewise, if your business is not set up to be fundable, you will not be able to build business credit. So, now you are really asking yourself, how do I build business credit?

How Do I Build Business Credit Step 1: The Foundation of Fundability

If you ever want your business to be fundable on its own, apart from you, it must be set up in this way. That’s not to say that your personal credit will not ever affect fundability, but if you do not set your business up to be a separate entity, business credit will never even be on the table.

Like any foundation, it is best to start at the beginning. It will be faster and easier if you do. However, if your business is already up and running, you may not have that option. That’s okay. It’s never too late to start, but start now. The longer you wait the harder it will be, for several reasons. How do you set up a fundable foundation?

Separate your contact information

The first answer to the question of how do I build business credit, is to separate your business from yourself. One step in this process is to make sure you and your business have separate contact information.

​Your business needs its own phone number, fax number, and address. That doesn’t mean you have to get a separate phone line, or even a separate location. You can still run your business from your home. You don’t even have to have a fax machine.


In fact, you can easily get a business phone number and fax number that will work over the internet instead of phone lines. Even better, the phone number will forward to any phone you want it too so you can simply use your personal cell phone or landline. Whenever someone calls your business number it will ring straight to you.

Faxes can be sent to an online fax service, if anyone ever happens to actually fax you. This part may seem outdated, but it does help with appearances.

You can use a virtual office for a business address. This isn’t what you may think. it is a business that offers a physical address for a fee, and sometimes they even offer mail service and live receptionist services. Also, there are some that offer meeting spaces for those times you may need to meet a client or customer in person if you do not have a place.

Get Your EIN

The next thing you need to do is get an EIN for your business. This is an identifying number that works in a way similar to how your SSN works for you personally. Some business owners use their SSN for their business. However, it really doesn’t look professional to lenders, and it can cause your personal and business credit to get all mixed up. When you want to work on fundability and business credit, you need to apply for and use an EIN. You can get one for free from the IRS

Make sure you Incorporate

Incorporating your business as an LLC, S-corp, or corporation is necessary to both fundability and business credit. It lends credence to your business as one that is legitimate. It also offers some protection from liability.

Which option you choose does not matter as much for fundability as it does for your budget and needs for liability protection. The best thing to do is talk to your attorney or a tax professional. What is going to happen is that you are going to lose the time in business that you have. When you incorporate, you become a new entity. You basically have to start over. You’ll also lose any positive payment history you may have accumulated..

This is why you have to incorporate as soon as possible. Not only is it necessary for fundability and for building business credit, but so is time in business. The longer you have been in business the more fundable you appear to be. That starts on the date of incorporation, even if you were in business before that time.

Open a business bank account

You have to open a separate, dedicated business bank account. There are a few reasons for this. First, it will help you keep track of business finances. It will also help you keep them separate from personal finances for tax purposes.

Also, there are several types of funding you cannot if you do not have a business bank account. Many lenders and credit cards want to see one with a minimum average balance. In addition, you cannot get a merchant account without one. That means, you cannot take credit cards payments. Studies show consumers typically spend more when they can pay by credit card.

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<![CDATA[Get Credit for Small Businesses. Everything You Need to Know]]>Fri, 21 Feb 2020 03:00:46 GMThttps://credittude.com/blog/business-credit-for-small-businesses-everything-you-need-to-know
The idea of business credit for startups is kind of vague. I mean, a business that isn’t even operating yet can’t exactly get a business credit. The people who want to start the business can get a loan to get going, but it will technically be a personal loan, not a “business” loan in terms of a loan to the business directly.

Business Credit for Startups: Do It Exists and How Do You Get It?

The truth is, a startup isn’t just a business that hasn’t started yet. The term startup also includes any business that is still in its beginning stages. For example, they may be in their first round of financing, or still trying to get ramped up. Surprisingly, some businesses stay in the startup phase for up to two or 3 years.

Why does that matter? Because, if they have been operating for any amount of time, that changes the game. They could then potentially have business credit, which could help them get the funding they need on the merits of their business more so than their personal credit. These would be what we call business loans for startups. For many reasons, it’s harder for startups to get business loans.

Business Credit for Startups: Traditional Lenders

Not surprisingly, a lot of startups will not qualify for business loans from traditional lenders. Some will, but most will have to go the SBA route if they qualify at all. The SBA, or Small Business Administrators ation, offers loan programs through partner lenders. More startups will qualify for these loans. The reason is, their programs are government backed. As a result, the lenders are able to be a little more relaxed when it comes to eligibility and approval.


​There is a lot of red tape involved, but it can be worth it if you qualify. Here are some examples of SBA loan programs that may work well for startups.

7(a) Loans This is the Small Business Administration’s main loan program. It offers federally funded term loans up to $5 million. The funds can be used for expansion, purchasing equipment, working capital and more. Lenders include banks, credit unions, and other specialized institutions in partnership with the SBA who process these loans and disburse the funds.

The minimum credit score to qualify is 680. In addition, there is a down payment requirement of at least 10% for the purchase of a business, commercial real estate, or equipment. The minimum time in business is 2 years. In the case of startups, business experience equivalent to two years will suffice.

This is by far the most popular of the SBA loan programs, and the funds are available for a broad range of projects, from working capital to refinancing debt, and even buying a new business or real estate.
These loans are also available up to $5 million and can buy machinery, facilities, or land. They are generally used for expansion. Like 7 (a) loans, private sector lenders or nonprofits process and disburse these funds. They work well for commercial real estate purchases especially.

Terms for 504 Loans range from 10 to 20 years. Unfortunately, funding can take up to 90 days. They require a minimum credit score of 680, and collateral is the asset it is financing. There is also a down payment requirement of 10%, which can increase to 15% for a new business.

There is also 2 year in business requirement, or equivalent experience for management, if the business is in the startup phase.

Micro Loans

Microloans are available in amounts up to $50,000. They work for starting a business, purchasing equipment, buying inventory, or for working capital. Community based nonprofits handle SBA microloan programs as intermediaries.

Interest rates on these loans are 7.75% to 8% above the lender’s cost to fund, and the terms go up to 6 years. Similar to other programs, they can take up to 90 days to fund. The minimum credit score is 640, and the collateral and down payment requirements vary by lender.

SBA Express Loans

These loans max out at $350,000. They have a maximum interest rate of 11.50%. In addition, terms range from 5 to 25 years, and the SBA guarantee is less than it is with their other loan programs at 50%. To qualify, your credit score must be above 680. Another requirement is that you must have a debt to service ratio of 1.1 or higher. If the loan is greater than $25,000, collateral may be necessary. It depends on the lender.

The turnaround for express loans is much faster. The SBA takes up to 36 hours to give a decision. Also, necessary paperwork for application is less. As a result, express loans a great option for working capital, among other things, if you qualify.

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<![CDATA[Can Shelf Corporations Get Me Funding?]]>Wed, 12 Feb 2020 18:40:44 GMThttps://credittude.com/blog/can-a-shelf-corporation-get-me-funding
In today’s market place as a small business owner, it’s a great idea to look for ways to help your company grow and scale financially in business. However, there’s a difference between trying to get ahead and looking for shortcuts. Shelf corporations often, though not always, fall into the latter category.

Shelf companies are either old companies formed for the purpose of being sold off, after an excellent business credit rating has been established.

Our shelf corps come with employer identification numbers (EINs) from the IRS. A shelf corporation also will feature several years worth of filed tax returns and even a business bank account with a real financial institution “on some occasions”.

These steps are taken in an effort to ensure the corp is legitimate and well established in the eyes of others.


The reason a shelf corp is sometimes formed in the first place is with the goal of flipping it down the road to someone or it can as n be acquired filling a sensitive protocol. The buyer is usually someone who’s willing to pay for the value of the shelf corporation’s credit rating and age.

Where are most Shelf Corporations formed?

Shelf corps can be formed in plenty of states throughout the US. But.. they’re often formed in states with either low filing fees, low taxes, easy regulations, or some sort combination of all three.

Some of the most common states where shelf corporations are formed are:
  • Delaware
  • California
  • New York
  • Nevada
  • Wyoming
  • Montana
  • Flordia
  • Texas
  • ​Georgia & More

What’s the price cost of Shelf Corporations?

Our prices that we charged for shelf corporations range at different pricing, depending on the age of the shelf corporation and also the Dun and Bradstreet Paydex score.

To learn more or if you would like to inquire about our shelf corporations, contact us at 1-800-998-3452 and one of our reps will be more than happy to assist you.

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<![CDATA[Can Shelf Corps Make You Rich?]]>Tue, 04 Feb 2020 01:38:03 GMThttps://credittude.com/blog/can-shelf-corps-make-you-rich
If you are considering obtaining at least $300,000 business credit without being forced to use your personal credit for approvals; then you may want to consider utilizing a Shelf Corporation to get high end funding from major banks and creditors. A Shelf corporation is a type of company, that was in business and it dissolved or went out of business for personal reason. Some shelf corps were also established only for the purpose of being sold in the near future to a new principal.

The process of registration of such company and its sale is completely 100% legal around the world. As such some companies are formed just for sale and has no activity and their are also some shelf corporations that comes with an established Dun & Bradstreet Paydex score as provided at Credittude Credit Repair. Most known shelf companies as they are established to be put on a “shelf” in order to achieve “age”. It is because age increases the value and worth of these companies & then they can be sold for higher prices in most cases. Those type are called ‘reddi-made paper companies’ which are formed after fulfilling all the legal requirements.

These companies are also very beneficial for both company’s original owner and also to the one who purchases the ‘Shelf Company’. These companies are really important for those who want to start their small business immediately because these companies saves the time for registration process of establishment of new corporation which must be formatted correctly. Such shelf corporations provide several other detailed benefits for those who buy these corporations. Following are few important points that prove shelf companies are very beneficial.

As mentioned above, the most important purpose for these shelf corps is to save the buyer from a oustanding and complicated registration process that is required before the start of any business.

If you want to open a bank account immediately without the mess of establishing and registering a new company to assist with obtain six figures of corporate credit, then purchasing shelf corp is the best possible option for you. In most of the cases, you will be able to open a bank account in a single or couple of days without facing the nuisance of buying new company, Going through the yellow tape’s and red lines to fine-tune your personal situation.

Another important benefit for the buyer of Shelf Corporation is its age. There are several benefits related to longevity of a company! You will get an edge in the market as others will consider the shelf company as an established company and feel secure to do business with. Apart from that, you can easily get leasing equipments as leasing companies prefer to involve with corporations established few months or a year ago. corporate apartments and houses and the list goes on. There are few locations where a minimum period is required for companies to bid on contracts and shelf corporations easily fulfill this condition.

Our shelf companies at Credittude are also helpful in retaining the privacy of business in a legal matter as the whole procedure of formation along with sale and purchase of shelf companies is according to law.

For more details on obtaining a shelf corporation or if you would like to inquire about getting started on buying a shelf company, contact us today at 1-800-998-3452 to speak with a shelf corp expert.
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<![CDATA[What are the benefits of buying a Shelf Corporation?]]>Fri, 03 Jan 2020 13:44:06 GMThttps://credittude.com/blog/what-are-the-benefits-of-buying-a-shelf-corporation
When it comes down to Shelf Corporations and what they are beneficial for; you will hit several perks along the way. In the financial world, shelf corporations make it easier to obtain credit & loans. Aged Shelf corporations allow you to engage into business, credit, and real estate agreements as an established business without having to go through the long waiting timeframe of establishing a brand new corporation.


Most creditors and business resources are less likely to extend their credit and lend to new or up-start Company. By approaching them as an established corporation or company that’s been in business for some time; that’s the more likely your business will have the chances of more access to major credit lines, banking relationships, corporate leases, and much more.

It’s not a big deal if your existing corporation is less than 6 years old because you will still be able to obtain business corporate credit, but the number of banks that you can apply at will be most likely be limited. If you're thinking about starting a shelf corporation then this may be an option to pay attention to.


Shelf corporations will also offer a large increase in borrowing power as well as enhanced credibility for your company when talking to customers and lenders.


Always remember; the age of the owners does not necessarily have to correspond with the age of the company.

When the works famous H.J. Heinz Company advertises that it was originally established in 1869, it doesn't mean that all of the shareholders are over the age 100 years old lol. It simply means that the business was filed in that year. You can take advantage of similar credibility benefits when advertising to customers with your Shelf Corp.


The age of your shelf corp will always give greater credibility to customers & lenders than a brand new business that was recently established. So, purchasing shelf corps with established credit & existing credit lines wi give the business a big financial boost.

Here are the Top 5 Advantages of a Shelf Corporation



1. Saving time and expense of forming a brand new corporation


2. Instant access to contract and government contract bidding. Most states require that your company be in business for a specified minimum length of time.


3. Instant credibility and an appearance of corporate history.


4. More attractive to potential investors and investment capital.


5. Faster and easier access to banking relationships and lines of credit.



If you currently have a shelf corporation then you can use it to obtain credit card funding. As far as purchasing a shelf corporation, given the current credit crunch, banks want to see more than even being a 6 year old corporation. contact us today to get started at 1-800-998-3452 to find out more information about the shelf corporations that we offer.


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<![CDATA[How To Get Your Free D&B Number In 3 Steps]]>Thu, 26 Sep 2019 17:41:53 GMThttps://credittude.com/blog/how-to-get-your-free-db-number-in-3-steps
3 Steps to Get Your Free DUNS Number from Dun & Bradstreet

Get Your Free DUNS Number from Dun & Bradstreet – This is Amazing! What is a DUNS number? Your DUNS number is the key to unlocking business credit for your small business. You may be asking: do I need a Dun and Bradstreet number? You do!

No Dun and Bradstreet number, no business credit. It is truly that simple. But first, you need to get your free DUNS number.

But free DUNS numbers do not magically, mystically drop from the sky. You have to proactively go and get one.

The first method is actually just one step. You can get our Business Credit Builder Package from us Directly.

Get Your Free DUNS Number from Dun & Bradstreet HERE

Aside from our Business Credit Builder Package, there are a few other things you can so to get a free DUNS number.

Fortunately for you, there are three easy steps you can follow and voila, your small business will have a DUNS number.

Get Your Free DUNS Number from Dun & Bradstreet:

1. Get Registered on the Dun and Bradstreet WebsiteHow does Dun and Bradstreet get their information?

Here is how to get a DUNS number. Dun and Bradstreet requires that you register your company on their site before they will hand out a DUNS number.

Registration is free. Much like for so many website registrations we see on the internet these days, registration is fast.
Dun and Bradstreet does not ask for extraneous information it does not need.

Rather, it merely asks you for your full name, an email address, a password, and then to confirm that password.

Therefore, you can get a registered Dun and Bradstreet account on the Dun and Bradstreet website before you even create your small business! It is a good first step and you may as well do it early. Get into small business DnB ASAP.

Like with most online registrations, Dun and Bradstreet sends a confirmation email. And, by the way, you’re now on the Dun and Bradstreet mailing list. Which is kind of convenient. It goes both ways. Now, if you need to, you can send Dun Bradstreet complaints.

Get Your Free DUNS Number from Dun & Bradstreet:

2. Launch the D&B D-U-N-S Number ToolWhen you log in, you are immediately taken to your Dun and Bradstreet account dashboard. Your dashboard is divided into three parts:
  • My Business Credit
  • Risk Management and
  • Sales & Marketing
If you have not purchased any products (yet), you will see the names of products in a somewhat light font and links to find out more about them.

Let’s look at the latter two sections first.
Risk ManagementCredit Reporter (which allows you to evaluate other businesses) has a listing under Risk Management.

Sales & MarketingAnd finally VERIFIED (this product provides a means for you to verify your small business and thereby build credibility) has a listing under Sales & Marketing.

My Business CreditCredit Signal (their business credit monitoring system) has a listing under My Business Credit.

Launch the D&B D-U-N-S Number ToolAlso under My Business Credit, but with a dark, contrasting font is the Launch the D&B D-U-N-S Number tool.

Click Launch and you are immediately taken to a business search page. If you find your business, select the appropriate record and click Submit.

The next screen is a verification screen so that Dun and Bradstreet can confirm that you who you say you are. It is also to confirm that you are also authorized to view the company data you want to look at.

Personal Identification InformationYou must fill out a section with personal information such as your full name and address, and a business information section which includes your business email and title with the company.

Once you have filled these two sections out, click Next.

On the next page, you must select the last four digits of your Social Security number from a list of four. Then click Next again.
Authentication Questionnaire on the next page, you must fill out an authentication questionnaire, which may be different for people, depending upon their specifics.

In our case, Aww had to choose my correct previous telephone number. Note: none of the phone numbers were correct for me but I had to choose one, anyway. I also had to choose a county I had once lived in. Also, I had to choose a professional license I hold.
Your authentication questions will undoubtedly be different.

Once you have answered the questions, click Next again.

If everything is correct, you will get a confirmation screen. If you want to review the company account, then click the Home button.

A Fer-Instance using the Dun and Bradstreet number lookup, I was able to locate my father’s small engineering consulting business. And this is even though he has not done any paid consulting work in a few years and I searched under the wrong city.

The DUNS number lookup worked just fine. Try the DUNS company lookup before you buy anything! Just in case, you should know how to find a Dun and Bradstreet number.

3. Add a CompanyIf you look up DUNS number and your search did not turn up your company then don’t worry. Instead, from the company search screen, click on Click Here to Get a D-U-N-S Number.

The next screen presents you with three choices. One method is to go the free Dun & Bradstreet route and just get a DUNS number and CreditSignal.

Click on Get Started. You’ll end up at a screen which wants your personal information and company information. Fill everything out and click Next.

And that’s it! You’ve successfully requested a DUNS Number and you’ll get it within 30 days.
Get Your Free DUNS Number from Dun & Bradstreet: Bonus: A Bit About D&B ReportsOf course the reason you need to get a DUN number is to get your free DUN Bradstreet reports! So here’s a brief look at them.

A Dun & Bradstreet Report (also known as a D&B Report) is a database-generated report. The business services giant produces such free Dun and Bradstreet reports in order to help its clients in making decisions regarding new credit applications.

The primary reason for a client making use of such a free Dun and Bradstreet report is to engage in credit risk monitoring of merchants, suppliers, and business partners.

This helps companies make informed business credit determinations and steer clear of bad debt.

Dun & Bradstreet takes several factors into account in producing such a report. These include a predictor of payment delinquency; how financially stressed a company is compared to comparable businesses; an assessment of supplier risk; credit limit recommendation; D&B rating; and PAYDEX score.

Get a Dun and Bradstreet report free and let’s look at all these factors in turn.
Delinquency PredictorDun & Bradstreet uses predictive models to ascertain how likely a company is to be overdue with its payments. Predictive scoring is a means of using historical data to try to predict future outcomes.

​It involves identifying the risks inherent in a future decision. It does this by examining the relationship between historical information and the future event.

This represents an objective and statistically derived counterpart to subjective and intuitive analyses. Such scoring allows a business to rank and order accounts based upon the probability of an event occurring, such as delinquent payments. However, note that Predictive Scoring only exemplifies a statistical probability, and not a guarantee.
Financial Stress Percent Financial Stress Percentile compares the company in question to other businesses in the same region, industry, number of employees, or number of years in the business.

Financial Stress Score Norms indicate an average score and percentile for all organizations with similar demographic attributes. These Norms can be utilized in order to benchmark where this particular business stands in relation to the norm for its peer group.

Financial Stress ScoreDun & Bradstreet produces Financial Stress Scores to forecast the chance of business failure over the next twelve months.

D&B defines business failure in several ways. One is as a firm which gets legal relief from its creditors. Another is a company which discontinues its business operations without paying all of its creditors in full. Yet another is a company which voluntarily withdraws from its business operations thus leaving unpaid obligations

Another way is a business which enters into receivership or reorganization. Or it can be a company which makes some kind of arrangement for the benefit of its creditors. And all of this is based on the information found inside D&B’s commercial database.
The score ranges from 1,001 to 1,875. A score of 1,001 represents the highest probability while a figure of 1,875 exemplifies the lowest probability of business failure.

If your business has a lot of lawsuits and liens against it, those will negatively impact your financial stress score.

Financial Stress Risk ClassThis is a division of the scored universe into five distinct groups, ranging from 1 to 5. A 1 represents businesses which have the lowest probability of failure, while a 5 represents firms which have the highest probability of failure.

This Class makes it so a customer can quickly segment their new and existing accounts into various risk segments. This is to determine appropriate marketing or credit policies. For any businesses showed as being Discontinued at This Location; Higher Risk; or Open Bankruptcy, those records automatically get a 0 score.

Financial Stress Score PercentileA Financial Stress Score Percentile is shown as a 1-100 ranking where a 1 percentile has the highest probability of failure and a 100 percentile has the lowest probability of failure.

Supplier Evaluation Risk RatingThe Supplier Evaluation Risk Rating (also called a SER Rating) forecasts how probable it is that a company will get legal relief from its creditors or terminate its operations without paying creditors in full over next twelve months. The SER rating comes from D&B’s Financial Stress Score. The Financial Stress Score percentile serves as the basis for the SER Rating.

Once the Financial Stress Score percentile is determined for a company, a second set of rules are applied to figure the SER Rating. The SER Rating provides a probability of global supplier failure. Local nations’ failure ratings are indicated via a Class of 1 – 9. A 1 represents businesses with the lowest probability of supplier failure. A 9 represents companies with the highest probability of supplier failure.

Discover our aged shelf corporations, jam-packed with new ways to finance your business without emptying your wallet.
Credit Limit Recommendation

A D&B Credit Limit Recommendation includes two recommended dollar guidelines:
  1. A conservative limitation, recommending a dollar benchmark if a company’s policy is to extend less credit to minimize risk and
  2. An aggressive restriction, suggesting a dollar benchmark if a firm’s policy is to extend more credit with possibly more risk.
These dollar guideline amounts are based on a historical analysis of the credit demand of customers in the U.S. payments database who have a similar profile to the company being evaluated, with respect to employee size and industry. The guidelines do not address if a specific business can pay that amount or if a particular customer’s total credit limit was achieved.

Each set of limits comes with an assessment of the risk category a business falls into, or D&B’s assessment of how likely they are to continue to pay their obligations within the agreed-upon terms and how likely they are to undergo financial stress in the next twelve months.

D&B RatingA D&B Rating is designed to help firms rapidly gauge a business’s size and composite credit appraisal. The rating is based upon information in a company’s interim or fiscal balance sheet, and also an overall evaluation of the firm’s creditworthiness. This, too, comes from a DUNS and Bradstreet number.

Rating Classifications5A to HH Rating Classifications show company size based on worth or equity as computed by Dun & Bradstreet. The figure matters because a firm’s size can be a reliable indicator of credit capacity. Dun & Bradstreet assigns such ratings to firms which have supplied a current financial statement.

Composite Credit AppraisalThis is a number, 1 through 4, and it comprises the second half of a firm’s rating under the DNB rating system. It reflects Dun & Bradstreet’s overall assessment of that company’s creditworthiness.

Dun & Bradstreet’s analysis of company payments, financial information, public records, business age and other important factors, when available, are analyzed in order to generate a Composite Credit Appraisal.
When a company does not supply current financial information, they cannot get a Composite Credit Appraisal rating of better than a 2. Furthermore, the 1R and 2R Rating categories indicate company size based on the total number of employees for the company.
These rating categories are assigned to company files which do not contain a current financial statement.

Employee Range (ER) Ratings apply to certain lines of business not lending themselves to classification under the D&B Rating system. These kinds of companies are assigned an Employee Range symbol based upon the number of employees and nothing more.
As a whole, when Dun & Bradstreet does not have all of the information they need, they will indicate as much in their reports. However, the absence of some pieces of information does not necessarily mean a certain firm is a poor credit risk.

Get Your Free DUNS Number from Dun & Bradstreet: It’s easy. This vital step will get you that much closer to building fantastic business credit. now you know what is duns number. Get EIN CREDIT – this is how to start.
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<![CDATA[Can I Get $400k With A Shelf Corporation?]]>Thu, 26 Sep 2019 14:31:16 GMThttps://credittude.com/blog/can-i-get-400k-with-a-shelf-corporation

The current age of your company can affect the business you wish to conduct in most cases. The number of years a company has been in existence may affect the confidence of potential business associates such as buyers, creditors or suppliers have in a company.

Some reasons you may require a Shelf Corporation:
  • If you want to obtain $100,00+ bank loans, major corporate credit cards, leases and other credit facilities, an aged company will be in better standing than a new incorporation

  • Having a company image and business history may be important to you – the longer a company has been in existence, the more credibility it can be said to have​.

  • Distributors & manufacturers often require a company to have been in business for a certain period of time before doing business.
  • Similarly, other companies will do business with an older company before a brand new one. Showing longevity and enhancing your image with customers and lenders. In many countries, government contracts may only be awarded to companies that have been trading for a number of years – a Shelf corporation may be beneficial to secure these:

  • Obtaining a Business Visa or Work Permits for company directors is easier with an Shelf Corporation
  • To create an appearance of corporate longevity, which may boost investor or consumer confidence

  • To gain access to investment capital

  • To gain easier access to corporate credit

We have a number of previously incorporated companies that have never traded. These are one month to 10 years old, available for immediate transfer, and fully inclusive of all documentation. Established companies are guaranteed to be clear of any business debts or liabilities.

Advantages of a Ready Made Shelf CompanyBusiness and Banking relationships are established easier with an older previously registered company, rather than with a newly incorporated company. The older a company is the more confident business and individuals will feel in dealing with them.

Government Agencies, distributors and manufacturers often require a company to have been in business for a certain period of time and the age of a company is very often a major factor in corporate banking relationships, business contracts and important criteria in the awarding of government tenders.

Provides established longevity and operating history so as to improve and enhance your Corporate image – the older the better building corporate credit is easier with age.

Large companies will only do business with an older company rather than with a brand new company. There are certain companies who will only do business with old companies which have existed for at least 12 months or more.

Obtaining bank loans is easier when you can show you have history, the age is what matters most. Establishing credit with banks, investors and leasing companies (most lenders require a minimum of 2 and usually 3 years history in order to establish corporate credit history)

Obtaining corporate credit cards and leases – Most credit card companies require that the business has been in existence for at least 2 years.

Immigration Advantages – Business Visa for company Directors Work Permit Applications – having an established ready made shelf corporation with more than 6 years of track record or history is always better than registering a new company.

Definition of Ready Made – Previously Registered Dormant Companies Ready made established companies, sometimes called shelf or shell companies, are companies that were incorporated in the previous years and have remained inactive.

Our shelf companies will all come with a certificate of non-trading confirming that they are free from liens, judgments, our shelf companies have no business debts or liabilities.

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<![CDATA[Is Buying a Shelf Corp a Smart Business Move?]]>Fri, 06 Sep 2019 09:54:17 GMThttps://credittude.com/blog/is-buying-a-credittude-shelf-corporation-a-smart-business-strategy

In an effort to improve the chances of obtaining financing for your startup you may have heard that buying a shelf corp will open the credit floodgates for your new venture.

Sound too good to be true? Well, it is because there are many more factors that play into the creditworthiness of a company then simply its age. While the age of your business does contribute to the overall picture it should never be considered as 'the key to credit.' By sharing some insight with you on shelf corporations and what are the key business credit advantages will better prepare you in making a more educated decision if this is a strategy worth considering. Now, let’s first cover the basics.

What is a shelf corporation?

A Shelf Corporation, also known as an “Aged Corporation” (or “Aged Company” when referring to an LLC, for example) is a corporation that is already formed, but not in use, and ready for “purchase” by a new owner. There are many reasons that people purchase shelf corporations, and there are certain things to look out for when considering one of these “ready-made” corporations. Now one of the questions I’m sure you’re thinking is “Why should I purchase a shelf corporation?” Shelf corporations allow you to engage into business, credit, or real estate agreements as an established company without having to go through the long waiting period of establishing a brand new corporation. Most potential creditors or business resources are less likely to extend credit or lend to new or up-start corporations. By approaching them as an established corporation or company, the more likely your business has the opportunity to have access to credit lines, banking relationships, leases, and so on. For example, during the initial stages of building business credit there are some vendors that will only extend credit to companies that are at least two years in business. In some cases they also require a personal guarantee if the business is less than a year old.


What can shelf corporations do for your business?

By purchasing a shelf corporation that’s three or even ten years old can drastically increase the number of credit opportunities available to you. Now don’t worry if your existing corporation is less than two years old because you’ll still be able to get business credit, but the amount of banks that you can apply at will be limited.

If you’re planning on starting a corporation or setting up another corporation then this may be an option to entertain.

Shelf corporations can also offer a large increase in borrowing power as well as enhanced credibility for your business when talking to customers and lenders. Remember the age of the owners does not necessarily correspond with the age of the company. When the H.J. Heinz Company advertises that it was established in 1869, it doesn’t mean that all of the shareholders are well over 100 years old. It simply means that the company was filed in that year.

You can take advantage of similar credibility benefits when advertising to customers. The age of your company can give greater credibility to customers and lenders than a business that was recently established. So, purchasing companies with established credit and existing credit lines can give the business a big financial boost.


Here are the Top 5 Advantages of Buying a Shelf Corporation:

1. Saving time and expense of forming a brand new corporation
2. Instant access to contract and government contract bidding. Most states require that your company be in business for a specified minimum length of time.
3. Instant credibility and an appearance of corporate history.
4. More attractive to potential investors and investment capital.
5. Faster and easier access to banking relationships and business lines of credit.


As far as purchasing a shelf corporation for the purpose of obtaining a bank loan or line of credit, given the current economic conditions, banks are requiring seeing much more than simply the age of your company. There are bank ratings, credit history, NSF history, and other factors to consider especially if you request more than a $50k line of credit. So if your interest is in applying for bank financing keep in mind shelf corporations have no business history, tax returns, financials and existing revenue.


Another word of caution that you need to consider is there are many companies that sell shelf corporations that have done business in the past, DO NOT buy these! If a shelf corporation has done business in the past and you purchase it you also assume all past liabilities of that company. So if the company has had any lawsuits brought against the corporation from the past you are now liable because you now own the corporation.

It’s critically important that the shelf corporation you are considering not have any inherent or lingering liabilities. For the most part, this can be assured by looking into the history of the corporation and ensuring that the extent of its business activities was limited or nonexistent except for the application of an Employer Identification Number and maybe the formation of a bank account.
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<![CDATA[Get $200k-$500k With A Shelf Corporation]]>Wed, 28 Aug 2019 03:02:41 GMThttps://credittude.com/blog/get-200k-500k-with-a-shelf-corporation

How Shelf Corporations Improve Business Credit Funding

There has been a growing interest in shelf corporations from many of the investors, small business owners and entrepreneurs that We have the opportunity to speak with on a daily basis who are looking for ways to speed up the business credit building process.

We felt that by sharing some insight with you on shelf corporations and what are the key business credit building advantages will better prepare you in making a more educated decision if this is an option you’re thinking about.

Now, let’s first cover the basics.

What is a shelf corporation?

A “Shelf Corporation, also known as an “Aged Corporation” (or “Aged Company” when referring to an LLC, for example) is a corporation that is already formed, but not in use, and ready for “purchase” by a new owner.

There are many reasons that people purchase shelf corporations, and there are certain things to look out for when considering one of these “ready-made” corporations which I will cover shortly.

Now one of the questions I’m sure you’re thinking is “Why should I purchase a Shelf Corporation?”

Shelf corporations allow you to engage into business, credit, or real estate agreements as an established company without having to go through the long waiting period of establishing a brand new corporation.

Most potential creditors or business resources are less likely to extend credit or lend to new or up-start corporations. By approaching them as an established corporation or company, the more likely your business has the chances of more access to credit lines, banking relationships, leases, and so on.
For example, during the initial stages of building business credit there are some vendors that will only extend credit to companies that are at least 2 years in business. In some cases they also require a personal guarantee if the business is less than a year old.

By purchasing a shelf corporation that’s six or 25 years old can drastically increase the number of credit opportunities available to you.

Now don’t worry if your existing corporation is less than 6 years old because you’ll still be able to obtain business credit, but the amount of banks that you can apply at will be limited. If you’re planning on starting a corporation or setting up another corporation then this may be an option to entertain.

Shelf corporations can also offer a large increase in borrowing power as well as enhanced credibility for your business when talking to customers and lenders.
Remember the age of the owners does not necessarily correspond with the age of the company.

When the H.J. Heinz Company advertises that it was established in 1869, it doesn’t mean that all of the shareholders are well over 100 years old. It simply means that the company was filed in that year. You can take advantage of similar credibility benefits when advertising to customers.

The age of your company can give greater credibility to customers and lenders than a business that was recently established. So, purchasing companies with established credit and existing credit lines can give the business a big financial boost.

Here are the Top 5 Advantages of a Shelf Corporation

1. Saving time and expense of forming a brand new corporation
2. Instant access to contract and government contract bidding. Most states require that your company be in business for a specified minimum length of time.
3. Instant credibility and an appearance of corporate history.
4. More attractive to potential investors and investment capital.
5. Faster and easier access to banking relationships and lines of credit.
If you currently have a shelf corporation then you can use it to obtain credit card funding. As far as purchasing a shelf corporation, given the current credit crunch, banks want to see more than even being a 2 year old corporation. So if your only interest is in applying for bank financing keep in mind Shelf Corporations have no business history, tax returns, financials and existing revenue.

Caution!

There are many companies that sell shelf corporations that have done business in the past, DO NOT buy these! If a shelf corporation has done business in the past and you purchase it you also assume all past liabilities of that company. So if the company has had any lawsuits brought against the corporation from the past you are now liable because you now own the corporation.

It’s critically important that the shelf corporation you are considering not have any inherent or lingering liabilities. For the most part, this can be assured by looking into the history of the corporation and ensuring that the extent of its business activities were limited or non existent except for the application of an Employer Identification Number and maybe the formation of a bank account.

Shelf corporations can be a great option if the proper due diligence is taken and there are many aged shelf Nevada corporations, Delaware corporations, Wyoming corporations, offshore corporations and Canadian Corporations that are available but be sure you do your homework.

Are you considering a shelf corporation?

P.S If you are interested in a INC/LLC Shelf corporation that’s 6 - 25 years old let us know and we would be happy to help you. Contact us at 1-800-998-3452 Or Visit www.Credittude.com


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<![CDATA[Credit Repair 101]]>Fri, 12 Jul 2019 21:16:16 GMThttps://credittude.com/blog/credit-repair-101
Americans normally associate credit repair with people who have bad credit in most cases. Closer to the truth, however, is that nearly everyone needs to engage in credit repair at some time in their lives, and occasionally more than once if they really care about their credit.

Of course, it’s usually most necessary for those with low credit scores. But even if you have an average or good score, you may want to increase it even more, either to improve your chances of being approved for certain loan, or getting lower costs and better terms.
There may be some element of vanity in wanting to have the best credit scores possible.

But in financial terms, your credit score really does impact your bottom line. For example, a credit score of 700 might get you the lowest rate on a home mortgage, while a score of 550 may result in a decline.

No matter what your current credit situation is, sometimes you need to do more than just make your payments on time. You may need to work on getting some negative information removed, or restoring your debts to get your credit scores higher.

Each represents a form of credit repair, and that’s exactly what we’re going to discuss in this article.


What Is Credit Repair?

Credit repair starts out with two basic objectives:
  1. Eliminate your negative entries and information on your credit report, and
  2. Increase your positive tradelines

Eliminating Your Negative Credit Tradelines

The process starts with getting a copy of your most recent credit report and examining each line item. If any are showing negative information, those are the ones you want to zero in on.

In looking at the negatives, the first goal is to scan for any that may be in error. These can include collections that are not yours, accounts with negative payment histories that belong to someone else, or open balances you’ve long since paid.

By getting this information corrected, or removed from your report, your credit score will get an instant boost.

One of the biggest potential negatives that’s vague to most consumers, is excessive credit utilization. This is determined by what’s known as your Credit utilization ratio. That’s the amount you owe on your credit lines, divided by your total credit limits.

For example, let’s say you have five credit cards with a combined credit limit of $20,000. If you owe a total of $15,000 across the five cards your credit utilization ratio is 75% ($15,000 divided by $20,000).

A credit utilization ratio of 75% is considered excessive, and will weigh down your credit score. Credit utilization is the second biggest credit score determining factor, behind only payment history. It accounts for 30% of your score, so keeping this number at a reasonable level is mission-critical.

A credit utilization ratio of 80% or more is considered indicative of potential default, since you’re approaching maxing-out your credit cards. The lower the rate is, the better. But a ratio below 30% is considered ideal. If you have a good credit score, and you’re looking to improve it, getting the ratio below 30% may be the most important strategy.

Increasing Your Positive Tradelines

Increasing your positive credit tradelines can be equally important. Often times, a credit score is weighed down by a lack of good credit. It can even be held down by an absence of sufficient credit.

If you already have good credit, you’ll naturally want to continue making your payments on time.

But one of the best ways to increase your score is by paying off a loan or a credit card We’ve already discussed the importance of credit utilization, and that certainly needs to be considered if you want to improve your score.
But paying off a credit card completely, Open up a small credit account at a local jewelry store or an installment loan, is a way to boost your score a few points immediately.

The credit bureaus like paid loans, because they confirm successfully completed credit obligations. The more of them you have, the better. This isn’t to say that you need to pay off all your loans. But your credit report should reflect a healthy mix of both open and paid loans.

If you have poor credit, you certainly need to work on removing as many negative items as possible. But it’s equally important to add good credit to the mix.

You can do that by taking small loans, making the payments on time, and paying them off early in most cases.

What To Do if You Can’t Get Approved for New Credit?

If you’re unable to get approved for traditional loans or credit cards, look into secured credit cards or credit builder loans.
Secured credit cards usually require that you put up an amount of money equal to the credit line as collateral.

​Because the line is completely secured, the bank is highly likely to approve the credit line. But we honestly do not recommend those because it automatically flags you in the red zone when creditors look at your credit.

Credit builder loans can accomplish the same goal, except you can open one without any money at all. Many banks and credit unions offer credit builder loans.

You apply for a loan, and when the bank approves it, the funds are immediately deposited into a savings account to act as collateral for the loan.

Your monthly payments on the loan are paid out of the savings account. Since it happens by automatic draft, the payments are guaranteed to be on time.

It will happen completely out of sight for you, and will likely cost you less than $100 for the interest on the loan. Meanwhile, the bank will report your perfect payment history to the credit bureaus, as well as the paid loan status when the term ends.

Either method will enable you to add good credit that can work wonders to increase your credit scores.

Take the next step and contact us today for your free credit analysis at 1-800-998-3452
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