cancel
Showing results for 
Search instead for 
Did you mean: 

Business Credit 101

Moderator

Re: Business Credit 101


suaveone wrote:

I'm sorry but I'm very new to gaining credit for my company.  I have been in business since 2010 but got the D&B for grant writing purposes.  Trying to carry my not-for-profit under a for profit for investment purposes can I use the same D&B the intitial name is the same but the next name has investment inc .  QPRI (inital name) Q investment Inc as the for profit name. My true question is I see that you need a pg I don't understand what is pg the acronym of? private goods? don't know please help.


PG=Personal Guarantor.  Means that you you are personally responsible for the credit debt.

Super Contributor

Re: Business Credit 101


suaveone wrote:

I'm sorry but I'm very new to gaining credit for my company.  I have been in business since 2010 but got the D&B for grant writing purposes.  Trying to carry my not-for-profit under a for profit for investment purposes can I use the same D&B the intitial name is the same but the next name has investment inc .  QPRI (inital name) Q investment Inc as the for profit name. My true question is I see that you need a pg I don't understand what is pg the acronym of? private goods? don't know please help.


Welcome to the forum

Not sure you can take a non-profit and then turn into profit due to every dime needing to be spent at the end of the fiscal year....Good question tho and probably better answered by an accountant or lawyer....I would think you could create another company as a parent company and bring both under the new Corp but this by far is more technical and in need of professional services

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
New Member

Re: Business Credit 101

Why doesn't ATT report to any of the bureaus? I have had an account with ATT for the business with me as a PG for about 2 years now. Any advice on what would be the next step? 

Established Contributor

Re: Business Credit 101

I read all the pages and as I was 3/4 of the way to the end, I felt like I was late to the party and missed out on some great business credit 101 strategy.

Tuscani - can you unsticky this post & publish a new 101 guide, with an up-to-date strategy?

myFICO
FICO 8: EQ 663 | TU 657 | EX 663 (8/17)
Trifecta: EQ 667 | TU 632 | EX 664 (8/9)
Established Member

Re: Business Credit 101

there is something in the original thread i am unsure of.  when you are applying for your initial net 30 trade lines he said to only apply for 6 to 8 to avoid having your duns file flagged.  But later on when he is suggesting you add more trade lines after those initial 6-8 he suggests waiting 2 weeks between each app to avoid getting your number flagged.  my question is when you are applying for your first 6-8 trade lines should you wait 2 weeks in between each app cause he didn't state you should. i was just wondering cause i dont want to get my file flagged for applying to soon.

vantage 3.0 scores TU 645,EQ 645. fico 8 EX 659.
credit cards: capital one quicksilver 800$, capital platinum 500$, chase freedom unlimted 700$, my best buy 2000$ Updated 6/4/2016
Frequent Contributor

Re: Business Credit 101

 
7/16 Fico8 - 672eq/707tu/692ex Inq/19tu, 13eq, 11ex bk6/12 / Accts Kohls 1K, Cap1 QS 4.3K, Cap1 QS 3.75K WMSC 6K, CU 3.5K, Bcly 2K, WMMC 8K, Disc 5K, LL Bean 2.5K Blispay 2K, Sam's MC 8K, Marvels MC 8K, Stash Visa 8K, PPMC 6K, Ebates Visa 8K