Every type of business, whether they are new or existing, needs capital to operate
Columbus, Ohio (Vocus) July 29, 2010
Go BIG Network, the biggest online network connecting investors to entrepreneurs and small businesses, introduces a Business Credit Building service to get entrepreneurs the proper business credit they need for bank loan applications.
“Every type of business, whether they are new or existing, needs capital to operate,” Ilya Bodner, VP of Business Development for Go Big Network, said. “If you are looking for an angel investor, hard money lender, bank, or other accredited lending source, Go Big Network and our Business Credit Building service can help.”
Go Big Network allows users to work directly with its in-house Sr. Business Analysts to review a company’s current business or startup idea. The business analysts then help determine the right approach to meet individual fundraising goals for the business.
“In the world of tough lending conditions, successful entrepreneurs often use their company’s credit rating to secure startup or expansion capital,” Heerdt said. “We show entrepreneurs how to build a business credit rating that is separate from your personal credit.”
It is important to build strong business credit in order to secure business financing. However, not all businesses require external financing; often entrepreneurs will rely on family and friends for startup capital. Emergency financing may take precedence in cases like this. If a business is experiencing strong growth, such as a need to expand warehouse space, inventory, or work force, and the financing of such operation is beyond that which is available from friends and family, a strong business image and a strong business credit profile can aide in securing financing with lower rates and quicker approval times.
Go Big Network offers several credit-building products that allow startups to establish a rating with Dun & Bradstreet, open trade lines to show track record, and use their business credit score to secure a $10,000 to $150,000 line of credit.
In addition, joining the Go Big Network connects users with investors, angel investors, lenders, banks, and other qualified lending and investing members on the Network. Entrepreneurs can narrow down the search of 20,000 investors to the specific choices for their individual projects.
The Go Big Network credit-building plan provides many entrepreneurs the opportunity to fund their small business. For more information about credit-building options with Go BIG Network, visit http://www.gobignetwork.com/business-credit.
About Go BIG Network
The Go BIG Network is an online marketplace that connects the startup and small business community. The company allows startup companies, funding sources, advisors, and service providers to post requests for help on-line and have those requests routed to other members of the Network who can help them. Go BIG Network also provides online education resources like the Go BIG Network Fraud Prevention checklist, which provides common pitfalls that funding seekers can avoid.