Foothill Ranch, CA (PRWEB) June 20, 2006
BusinessFinance.com announces a tool that allows business owners to know the approval requirements for obtaining vendor lines of credit before they apply.
Eighty percent (80%) of all financing in the United States is done business to business or by “vendor” financing. Vendor lines of credit are not for cash, but rather for products and services that every business needs.
What business owners don’t know is that there are over 500,000 vendors that extend credit in the United States, but only 6,100 the are reporting business credit payment histories to the three main business credit agencies. “Businesses must have vendor lines of credit not only for the things their business needs but also to help build good business credit scores” says Corey Pierce, Founder of BusinessFinance.com. ”To establish good business credit scores, businesses must have five vendor lines of credit that are all reporting” says Pierce.
The Business Finance Coach shows business owners exactly which vendor lines of credit they qualify for and which ones are reporting to the business credit agencies. The Coach also shows business owners which business credit cards they qualify for and how to obtain a bank loan, all of which will report and help build good business credit scores.
In addition to providing detailed information about vendor lines of credit, the Business Finance Coach instructs businesses on 20 other items that every business must complete prior to submitting any business loan applications. More information about the Business Finance Coach can be found at http://www.businessfinancecoach.com.
To complement the Business Finance Coach, http://www.BusinessFinance.com features the Internet’s largest Business Funding Directory. The directory has 4,383 sources of business capital. Business owners can search it for free and match their capital needs to the approval criteria of those funding sources.