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How to buy business trade lines to build business credit?
Many business owners buy business trade line to help build their business credit. However, when purchasing these business trade lines, you may continue to face several challenges when trying to get funding for your business. One of those challenges is once you add the business trade lines, you may still need to have bank statements and tax documents in order to get qualified for funding.
Another issue you may have with adding business trade lines knowing if and when they’re going to show up on your business credit file. This is a big gamble because you cannot predict when the credit bureaus are going to report. This is why I try to encourage small business owner and entrepreneurs to focus on repairing there personal credit and pairing it with their company then apply for funding.
When you have good credit and a new business banks will start you out with business credit cards and business lines of credit. The reason for this is that you do not have a business relationship with the banks. You may also want to stay away from the business loans because they want your business to have been in existence for at least 2 years and you would have to provide bank statements and taxes.
So, if you’re trying to get funding for your business, I would encourage you to repair your credit and then apply for the funding under your business.
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