Here are 7 steps to build your startup’s business credit

No credit? Big problem.

In the startup world, venture capital is often viewed as the penultimate goal, yet for many startups bootstrapping is often the reality. And self-financing puts the emphasis on business credit.
If you’re a small business owner, navigating the lending world today can feel like one big Catch-22 loop. Traditional lenders and
commercial banks are typically reluctant to loosen their purse strings until you’ve proven yourself with a strong credit history. But that begs the question: how can you develop a good record when no one will lend to you in the first place?

For this reason, many small business owners lean on their personal credit to fund their business. However, this means that your mortgage, auto loan, and personal credit cards will affect your ability to qualify for a business loan and for how much. Using business credit separates your personal accounts from that of the business. Your business credit is dependent on your company’s payment history, assets, cash flow, and other financials. It doesn’t include your personal debts or other personal financial obligations.
A strong credit history is the foundation for fiscal success, since it lowers your interest rates and can give you access to more capital when needed. To start building your business credit, here are the seven initial steps you should take:

1. Set up a business entity

It’s important to realize that a sole proprietor can’t apply for a business loan or business credit; sole proprietors can only get personal loans, whether they need that money to hire a software developer or buy a new car for personal use. In order to receive a business loan or investment, you need to separate the business from your personal finances and this means setting up a legal business entity such as a corporation (C Corporation or S Corporation) or LLC. Your CPA can advise you on the best legal structure for your particular situation, as your choice in entity can have some pretty significant implications on your taxes.

2. Get a Tax ID Number (EIN)

Just like each individual has a social security number, every business must have a tax ID number (also called the EIN). This is a nine-digit number assigned by the IRS to business entities operating in the U.S. You’ll use this number to open your business bank account and it’s the basis for building your business credit profile. You can apply for your business’ EIN online through the IRS site ⎯ it’s fast, simple, and free.

3. Open a business bank account

In order to build credit, your business will need at least one bank reference. Ideally, your bank account will be at least two years old if you need to apply for a loan. For this reason, it’s smart to apply for a business bank account as early into the life of your business as possible. It’s also critical that your business bank account reflects a cash flow (i.e. average daily balance) that’s capable of taking on the level of business debt you’re seeking.

4. Get Listed with the Business Credit Bureaus

Dun & Bradstreet (D&B) is one of the main business credit bureaus and runs its own business credit score. D&B gives your business a separate credit file number (known as a D&B or DUNS number) that rates your credit profile. The number is how lenders will determine your business’ creditworthiness; most business credit card and lending companies will ask for your D&B number during the application process.
The first step is to go toto find out if your business is already listed and has a score. If not, you can begin the process by applying for a free DUNS number, once you’ve established your business entity and have your EIN.

5. Establish business credit history

Just like with your personal credit score, the more vendors that report a good payment history, the better your business credit will be. Check if your trade vendors are reporting your payment history to one of the major reporting companies, like D&B.
Often times, smaller vendors won’t be reporting your payment history to D&B. In this case, you should compile a trade reference sheet with at least three trade references (include their name, contact information, and credit limits) to augment your official business credit report.
While opening new credit cards isn’t always advisable, you should consider opening a credit card in the name of the business and use it wisely. This means keeping your balance low and always making your payment on time.

6. Keep up to date on your business taxes

Failing to file your business taxes can mean your business is not in compliance. And this will have a negative effect on your business credit. As a step toward building business credit, be sure to file tax reports for your business, and pay what you owe when you owe it. If you’ve gotten yourself into a particularly sticky situation tax-wise, it’s smart to seek advice from tax experts who specialize in small businesses.

7. Maintain a good personal credit rating

While the whole point of establishing business credit is to separate your business and personal activities, your personal credit will still come into play. If you’re a relatively new or small company, don’t be surprised when creditors want to look at your personal credit (or the personal credit of any shareholders with more than 20% ownership of the company).
In today’s lending environment, you should expect to be asked to sign a personal guarantee on any kind of loan or credit of the business (this isn’t always mandatory, but it has become common practice in the lending industry nowadays). As a result, anyone with a 20% share in the company should keep a close eye on their own credit rating.

Final thoughts

The most important thing to remember is that you can’t build business credit over night. Savvy business owners should be thinking about their business credit from day one. Even if you don’t need a loan right now, you never know what challenges or growth opportunities will develop down the road. Having access to credit can help you adapt to changing conditions and position your startup for success.

But Noah found grace in the eyes of the LORD. ( Genesis 6:8 )

My Dear in Him,

Please follow me to study this words of hope from the beginning to the end of the messages so you can found grace in the eyes of The Almighty Father in obedience to The Divine direction to His prophet.

The word “grace” appears for the first time in the Bible in this verse. Noah lived in the midst of the most heinously evil society the world had known, but because he had found grace, God favored him with personal instruction about the coming catastrophic judgment and the details for a new beginning on earth.
The language of Genesis 6:8 gives us insight into Noah’s character. “Found” is a simple active perfect verb, not a passive one. Thus, Noah found favor—grace—in God’s eyes because he was actively looking for it. Likewise, Adam found no helpmate from among the animals that was suitable for him (Genesis 2:20), and Noah’s dove did not find rest for the sole of her foot (Genesis 8:9). Laban did not find his household images that Rachel had stolen and hidden (Genesis 31:35), and Hilkiah the priest found a book of the law of the Lord given by Moses
(2 Chronicles 34:14-15). God could have used a passive verb in reference to Noah, but He did not.
What can we learn from the life of this great man?
Evidently, God intended for us to know this key factor: Noah’s life was righteous—in spite of the horrible condition of the world of his day. He was looking for God’s direction and for the answers to his heart’s cry. Noah wasn’t merely hanging around waiting for the inevitable destruction that he sensed must come as a result of the awful rebellion that surrounded him. Noah was anticipating a response from God—and when God finally did give him instruction, Noah “found” the favor that he sought!
Captain of Industry
Many centuries later, God warned Ezekiel of future judgment that would happen to the land of Israel because of its wickedness. God identified three men—Noah, Daniel, and Job—as examples of the best “righteous” men in history (Ezekiel 14:14, 20). If that comparison has any meaning, Noah was much more than a mere chance recipient of God’s grace.
Job was “the greatest of all the men of the east” (Job 1:3). His livestock resources (mainly those for caravan duty) were enormous. That certainly meant that he was a successful trade broker and possibly a source for prized stock. He had multiple houses and land—so much so that “bands” from nearby nations were necessary to destroy his wealth.
God had labeled Job “my servant...there is none like him in the earth, a perfect [blameless] and an upright man, one that feareth God, and escheweth [shuns] evil” (Job 1:8). Job was much more than a “nice guy.” He was probably the wealthiest man of his day, and yet he was of such godly character that God used him to teach Satan a lesson!
Daniel was one of the king’s descendants and nobles from Judah taken captive by Nebuchadnezzar (Daniel 1:3). The account of Daniel and his three godly friends is well known among Christians, but the young adult experiences of Daniel often overshadow the long life that he led as the leader of the “scientists” (learned men) of that day. He was commissioned as a “great man” by Nebuchadnezzar and “sat in the gate of the king” (Daniel 2:48-49). Daniel served in some form of senior political and advisory position for six kings over some 70 years. Not bad for a captive!
God identified Daniel as a “man greatly beloved” (Daniel 10:11). He was privileged to have unusual spiritual insight, which he could have used to his personal advantage. But he always made it clear that he was gifted by God’s grace—to whom he always gave credit. Furthermore, God used Daniel to record several of the most remarkable prophecies in all of Scripture. Scholars are still discussing the book of Daniel. He was a significant person indeed!
If the comparisons of the righteous men listed in Ezekiel 14 are to be genuine comparisons, Noah must have been a person of significance in his region—if not well known throughout the world of his day. He clearly possessed or had access to the resources and skills needed to accomplish the monumental task that was assigned to him. Since God’s instructions to build the Ark are somewhat general, it is not beyond reason to assume that Noah ran an architectural and contracting business of some kind.
The pre-Flood civilization would certainly have been advanced enough for such an enterprise. The evolutionary cloud has mesmerized most of the world into relegating the “ancient” world into some sort of pre-human existence—living in caves and grass huts with animal skins for clothing. The Bible paints a much different picture! There were cities during Noah’s day, as well as developed technology that included metallurgy and the skills to build and market musical instruments (Genesis 4:17-22). Somebody had to construct the habitations for the growing population, and someone had to coordinate the distribution and development of those manufacturing places that produced the products needed by that society.
The world of Noah was very wicked, but it functioned with much the same needs as our current world. When the Lord Jesus wanted to emphasize the suddenness of the destruction in the coming end-times judgment, He did it by drawing a comparison with the “ordinary” life of the populations around Noah.

And as it was in the days of Noe, so shall it be also in the days of the Son of man. They did eat, they drank, they married wives, they were given in marriage, until the day that Noah entered into the ark, and the flood came, and destroyed them all. (Luke 17:26-27)

Noah was an important man in his day. Whether he was a general contractor, an architect, or a business baron is pretty much an educated guess. But the fact that he found grace is important. Noah was fully dedicated to the work of God during his life.
Walked with God
The Bible says that Noah was one of only two men in all of history who “walked with God” (Genesis 6:9). The other is Enoch, who may be more well known since he was taken up into God’s presence without dying (Genesis 5:24). Efforts by some to portray Noah as a bumbling, drunken hypocrite are simply not true. God’s commentary is that Noah was “just” and “perfect” (upright, without blemish). The Creator entrusted him with a monumental task that is unique in all of history.
Noah was “just.” That simply means that he was known for his equitable dealings with others. Even in the wicked world that disgusted the Creator, Noah was “justified” in his dealings. He charged reasonable prices for his work. He gave a good product (whatever it was) to those who employed his services. His honest dealings gave rise to his influence in the community. He was proven to be a man of integrity (Genesis 7:1).
Noah was “perfect.” That precious reputation, at least from God’s perspective, means that he was a man without condemnation. His “just” dealings resulted in a “blameless” record. Whatever the wicked people of his day may have said behind his back, they knew that Noah was above reproach. Just as folks today often resort to rumor-mongering and distortion of facts to cover their own guilt, those around Noah no doubt employed some of the same practices to discredit righteous Noah. He may well have had that kind of treatment, but God saw that he was “perfect.”
Preacher of Righteousness
Peter called Noah a “preacher of righteousness” (2 Peter 2:5). Think of what that means in the context of Genesis 6! The whole earth was “filled with violence” and “every heart” only thought of evil. The social milieu must have been a real mess. Yet Noah had the guts to stand up publically for the righteous behavior that just about everyone else openly and loudly rejected.
Perhaps his extended family members, and even some or most of his employees, were under his influence. But by the time the judgment of God fell, only Noah, his wife, and three of their sons and their wives were willing to follow his leadership into the Ark. Many would consider a ministry with such results a failure today, and yet God insisted that Noah’s faith not only “saved” his family but the future world from extinction (Hebrews 11:7)!
We are not told in Scripture what Noah preached about. Enoch (the other man who walked with God) preached about the return of the Lord in judgment (Jude 1:14-15). Noah may well have preached about the coming judgment of the Flood and the desperate need of the world’s people to turn back to their Creator for salvation. Whatever he may have preached and however he implemented his heart’s desire, Noah was labeled a “preacher of righteousness” by the only Judge that ultimately counts.
God’s grace is always available. It is not hidden from anyone. But it must be “found” by God’s servants as we “come boldly unto the throne of grace, that we may obtain mercy, and find grace to help in time of need” (Hebrews 4:16).

My Most Beloved,

If you look for God with your whole heart you will find Him and He will remove that affliction out of your life, family, marriage and business.

God is great and also the wisest personage in the universe. Your decision to look for Him today as the solution to the problems that have weighed you down in this life is the only key to the problem.

You might be among those who are searching for God but not with your whole heart. You might also be searching for God and at the same time going to the places you know from your heart that is not pleasing to God Almighty.

God is everywhere you go though not accessible from all places you have fixed your heart for the solution to your needs.

So many people have looked for this God through many gods of various religions and yet they are still confused of life and why they even came into existence.

Others have believed that joining different kinds of Self Realization organizations is the key to actualize and realize what they are looking for.

I have seen others who are tired of other gods of other people but now they have decided to create their own gods to worship. Can a man create God?

Yet many men have created gods and deceived you to worship them.

Many are calling upon the names of other gods they do not know about simply because they want to try a certain kind of worship and see how it can be with them.  Some others are busy looking for a place to discover another strange god which is not yet discovered by any other man.  If we move a little into the Bible book we will discover the exact message of God concerning searching and developing gods in any other scientific method which the Bible rightly stipulated, “Thou shalt have no other gods before me.

Thou shalt not make unto thee any graven image, or any likeness of any thing that is in heaven above, or that is in the earth beneath, or that is in the water under the earth:

Thou shalt not bow down thyself to them, nor serve them: for I the LORD thy God am a jealous God, visiting the iniquity of the fathers upon the children unto the third and fourth generation of them that hate me;

And showing mercy unto thousands of them that love me, and keep my commandments.” – EXODUS 20: 3-6.

God is warning you from this portion of the scripture to stop developing any form of worship that will entice you to worship other gods.

God is also warning you in particular to remove and throw away those gods you kept in secret places which men do not know you are worshipping. 

Stars and other things in the skies are not made to be worshipped by The Almighty Father and the Creator of universe. God commanded you also never to worship gods of woods, silvers, gold and iron.

God spoke to us through  Moses and said. “And the LORD commanded me at that time to teach you statutes and judgments, that ye might do them in the land whither ye go over to possess it.

Take ye therefore good heed unto yourselves; for ye saw no manner of similitude on the day that the LORD spake unto you in Horeb out of the midst of the fire:

Lest ye corrupt yourselves, and make you a graven image, the similitude of any figure, the likeness of male or female,

The likeness of any beast that is on the earth, the likeness of any winged fowl that flieth in the air,

The likeness of any thing that creepeth on the ground, the likeness of any fish that is in the waters beneath the earth:

And lest thou lift up thine eyes unto heaven, and when thou seest the sun, and the moon, and the stars, even all the host of heaven, shouldest be driven to worship them, and serve them, which the LORD thy God hath divided unto all nations under the whole heaven. - Deuteronomy 4:14-19

God is angry with you as you are bowing down to them and this is the source of those problems that refuses to go out of your life. The Almighty Father does not want you to worship the gods of your land.

Some people do carry the gods of their lands in wooden form to another country for worshipping purposes but The Almighty Father cannot be carried in a wooden form because He is accessible from any place and any condition you can call Him in truth and in Spirit wholeheartedly.   

There is no good gods in seas and oceans. There is no marine good gods that is capable to do what Almighty God cannot do for you.

He warned you never to bow down to any of them. Your destiny is purely in the hand of The Almighty Father. None of your blessings comes as a result of worshipping idols.

God is jealous and will not be happy if you are giving the glories that are due to His Most Holy Name, Jehovah to other gods of nations and other gods who have ears but cannot hear.

If you believe me today, and decide to drop those gods you are serving and to come to The Almighty Jehovah through His Son, Jesus Christ.

The Bible warned, “As many as I love, I rebuke and chasten: be zealous therefore, and repent. Behold, I stand at the door, and knock: if any man hear my voice, and open the door, I will come in to him, and will sup with him, and he with me.

To him that overcometh will I grant to sit with me in my throne, even as I also overcame, and am set down with my Father in his throne.  He that hath an ear, let him hear what the Spirit saith unto the churches. The Revelation of Saint John  3:19-22.

Why not decide right now as you are reading this message and give your entire life to your Creator so it shall be well with you, your family and all your businesses?

Will you continue to serve the gods that demands for the blood of your children for ritual purposes and sacrifices so as to bless and protect you?

Will you serve the gods that takes away your fertility in other to give you unrealistic financial blessings and fame?

Reason well before you go.

God is telling me that some group of people is trying to initiate you into a cult, an occult group, a satanic system of worship.

Please beware and run away for your dear life so you will not regret the final outcome of it.

There is nothing absolutely good in Satan. He is a liar and father of all liars.

If you believe this message is for you in particular and you wants to be saved before it is too late. Why not call my attention for my direction to establish your faith in Jesus Christ?

Accept and Confess the name of Jesus Christ so He shall come into your life and be your God as you have totally dropped all form of other gods with sincere heart.

Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.
If ye had known me, ye should have known my Father also: and from henceforth ye know him, and have seen him.- JOHN 14:6-7

Am available to assist you to develop your faith in God and also to pray with you for instant divine solution to those problems that has taken you far and wide without hope for solution.

“And thou, Solomon my son, know thou the God of thy father, and serve him with a perfect heart and with a willing mind: for the LORD searcheth all hearts, and understandeth all the imaginations of the thoughts: if thou seek him, he will be found of thee; but if thou forsake him, he will cast thee off for ever. - I CHRONICLES 28:9.

God bless you for giving a listening ear to this message of God that is specially made for you today for your upliftment.

If you are moved by the Spirit of God to support this work. Please don’t hesitate to tell us of how you are led by God to assist. Or you can send us your Check to our office below for our mission to Africa and building of schools for Orphans and Orphanage .

We need an offering and a monetary donation motivated by the Spirit of God for the poor and less privileged because God loves a cheerful giver.

Please kindly send us Check of the amount placed in your heart by the Spirit of Most High GOD JEHOVAH to-
Bishop Uchenna Celestine  Okonkwor
472 Amherst St
Suite 732225
Nashua, NH 03063

U.S.A.

Tel: 781-569-0201.

Alternatively, I will also suggest that you forward your donation to us for the poor through Our Payoneer Bank Account details below to make the deposit…

Bank Account Holder: Uchenna Celestine Okonkwor
Bank Name: Bank Of America
Account #: 00003503352939167
ABA (Bank Routing) #: 061000052
Account Type: CHECKING.

You may as well send your financial donation in support of this missionary work through our paypal account at zionagency@yahoo.com.

You can visit our outreach and ministerial sites below for perusal to enable you understand our mission practically well.  We need up to $2,ooo,000 to facilitate the schools building project for the poor and less privileged. This will have primary, secondary and University educational system. We are pleading that you give us your financial contribution and support as you are capable and also led by The Spirit of The Almighty God.

http://www.recoverywisdomtoday.com./

http://www.success-grace.blogspot.com/

http://zionmissioncenters.blogspot.com/

http://agnes-orphanage.blogspot.com/

God bless you.

Bishop Uchenna C. Okonkwor

472 Amherst St
Suite 732225
Nashua, NH 03063

781-569-0201. 

U.S.A.

JESUS CHRIST IS THE LORD.