The advantages of unsecured credit limits

 

buy a shelf corp

In the past, running a business was not that easy. You needed to have capital, collateral, and lots of employees to make it big. It was easy for the rich to maintain their advantage over the others. However, with the dawn of the internet, information has democratized. A somewhat level playing field has been created, with the small business owners having a good chance to succeed if they have the creative skills and the business ability to win in the market. 

 

With the dawn of financial technology and data analytics, it has become easier to access finance for these companies. Banks now go by track record, and not your assets owned. If your firm has a history of repaying your creditors on time, then banks can take a bet on you. You do not need to go and please the bank manager, or just wait for your turn to come. The floodgates of credit have opened for all sorts of businesses. There is a high chance of accessing credit if your firm deserves it. Moreover, it is excess lending that has led to bank crises of the past. However, as a business, that is not your concern. You should try and take advantage of more accessible funding by positioning your business as the perfect borrower. It is not that hard to do.

 

Shelf corps and unsecured credit

 

One of the easiest ways to acquire credit for your company is to go through the shelf corporation route. First, you need to understand that this is not a panacea to the ills of your business. It can only accelerate the funding process. If you have significant issues in your credit record, you will have to look for other solutions in addition to this one. When you buy a shelf corporation, what do you get? You get a company with a blank slate. The plus side is that this corp has been existing for some time. Thus, you can leverage its vintage in different ways to benefit your business. For banks, you can show them that the firm has been in existence for a while, even though it has started making a profit recently. This adds to the bank's comfort when deciding whether to give its approval to your business loan application.

 

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