Tips and tricks to crack the credit mystery

shelf corporations with bank accounts
It is a truism that most businesses cannot survive without credit or finance from outside sources. You can blame this on the capitalistic mode of the economy that incentivizes people to take risks with others' money. But we are not here to blame anyone. Instead, we are here to give advice that can help you resolve the credit conundrum! As one of the reliable shelf corp providers in the US, we meet many people who are apprehensive about approaching banks for business credit. They think that banks will decline their request without looking at it properly. Well, that's not how the process works, if you have done your homework well. What we mean by that is you need to follow all the principles of finance and take note of the advice that we are about to give.

A good beginning is essential

When you think of starting out, then you must put your best foot forward to give your business a fighting chance. One of the most reliable ways to do this is to take the shelf corp route. Buying a shelf company will make sure that your business already has a history. You need to build on that and start operations as soon as possible. As the company comes with all the necessary formalities in place, you need to open a bank account yourself or ask the seller to do this. Most reliable sellers will help you with all these formalities, as they have experience in such matters, and can get things done much faster than any newcomers.

Behind your shelf corporations with bank accounts are ready for action, you need to start transacting with your suppliers and buyers. Make your first payment to your supplier, or deposit a cheque from a client. Continue with the regular course of business. Make sure that you pay all your creditors before the due date, as this is one of the critical factors that will decide the fate of your credit application. If you do this correctly, then you will get a Paydex score of 80 or above. Then you will find that the route to credit has eased up for your business. You first need to apply for an unsecured corporate credit card. After getting this approval, you can move onto other financing options. Building a proper track record for your shelf corporation will boost your chances of additional funding in the future!

Comments

Post a Comment

Popular posts from this blog

Things You Didn't Know About Aged Shelf Corporations.

Image
  In a business world where established longevity and convincing operating history inform the credibility of a business, purchasing an Aged Shelf Corporation  continues to be an easy option for many entrepreneurs. The value of rich business history can never be overstated especially when it directly affects the level of confidence potential associates such as clients, suppliers, and lenders place in a business.    Here are 4 things you probably didn’t know about aged shelf corporations;   They Are Very Legal    Historically, shelf corporations were created to be sold off to individuals that wanted to start a company without going through the effort of incorporating one. This remains one of the major reasons for purchasing aged corporations together with a host of other benefits that include obtaining an established business history, and perhaps a solid credit rating. Shelf corporations are created for legitimate purposes and even come with valid VAT registra
Read more

Are Aged Corporations Legal?

Image
  Having learned the invaluable benefits of entering the market through an aged corporation , you are probably questioning the legitimacy of the whole concept. The fact that you are having doubts about a shelf corporation's legality makes you the right person to purchase a shelf corporation. It means that you are planning to use it for legitimate purposes only and wouldn’t want to be associated with something that goes against corporate laws. You wouldn’t want to pick an investment vehicle that will turn out to be financial and legal nightmare in the long run.    What is considered Illegal?    To understand whether or not aged companies are illegal, first, let’s examine what makes anything illegal? From a basic Google search, something is illegal when official laws do not sanction it. Any entity that operates contrary to set authorizations is termed illegal. By the same definition, there is nothing illegal in the registration of an aged corporation. Neither does the law forbid
Read more

Can I Buy A Shelf Corporation With Existing Line Of Credit, Tax Returns, or Financials?

Image
  By definition, a shelf corporation is a duly registered company that is kept inactive "on the shelf" to age to be sold later to an individual or a group of people. “Naturally,” shelf corps do not have any assets or liabilities given that they do not engage in business activities during the aging period. Therefore, it is impractical that a shelf corporation would come with an existing line of credit, tax returns, and declared financials.    Regardless, you will still come across shady vendors online advertising aged corporations that come with cash lines of credit, tax returns, and financials. Such aged corporations come in hefty price tags and promises of instant guaranteed funding. First, we need to establish that there is no way a shelf company can magically come with these valuable credentials after several inactivity years. Second, not even the oldest aged corporation on the shelf can guarantee your business instant funding. Aged corporations can
Read more