Lawn Care Business Forum Lawn Care Business Book Lawn Care Business Blog Lawn Care Software
Home Forum Contract & Flyer Templates Blog Software Videos Podcast Calculators / Estimators Store Mower Review Design It Yourself Lawn Business School

Go Back   GopherHaul Landscaping & Lawn Care Business Marketing Forum > Business > General Business Discussions

General Business Discussions A place to talk about general business discussions.

Building credit for my new LLC


General Business Discussions

A place to talk about general business discussions.
Reply
 
Thread Tools Search this Thread
  #1  
Old 11-28-2010, 02:00 PM
Paineless Creations's Avatar
Paineless Creations Paineless Creations is offline
Senior Member
 
Join Date: Jan 2010
Location: West Richland, WA
Posts: 205
Rep Power: 6
Paineless Creations is on a distinguished road
Default Building credit for my new LLC

Have any body done use this place to get started.

http://smallbusiness.dnb.com/

It looks like it is $229 to get started and it helps you build credit for your LLC Any opinions?
Reply With Quote

Stop guess-timating. Learn how to estimate and make money! $$$
Mow Time Estimator Lawn Care Price Estimator Mulch and Topsoil Calculator Snow Plow Estimate Calculator


  #2  
Old 11-29-2010, 09:36 AM
Steve's Avatar
Steve Steve is offline
Administrator
 
Join Date: May 2003
Posts: 37,118
Rep Power: 10
Steve has disabled reputation
Default

Lawn care business tipsLawn Care Business Book
Have they told you what they would be doing to help you?

I just can't imagine they are going to be able to do something that you aren't able to do on your own.

But I'd like to hear why you are thinking about this service.
__________________
- Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
Download your Free trial of Gopher Lawn Care Software.
Reply With Quote
  #3  
Old 11-29-2010, 11:26 PM
Paineless Creations's Avatar
Paineless Creations Paineless Creations is offline
Senior Member
 
Join Date: Jan 2010
Location: West Richland, WA
Posts: 205
Rep Power: 6
Paineless Creations is on a distinguished road
Default

Quote:
Originally Posted by Steve View Post
Have they told you what they would be doing to help you?

I just can't imagine they are going to be able to do something that you aren't able to do on your own.

But I'd like to hear why you are thinking about this service.
Well i agree with you, but when I you do a search on google asking how to build credit for my LLC this company is all over the net? So I thought I would throw it out there and ask you guys if anybody has done it. Seems expensive and I am not sure what for.
Reply With Quote
  #4  
Old 11-30-2010, 05:08 AM
picframer's Avatar
picframer picframer is offline
Andy
 
Join Date: Jan 2009
Location: Halifax, Nova Scotia
Posts: 2,885
Rep Power: 10
picframer will become famous soon enough
Default

Quote:
Originally Posted by Steve View Post
Have they told you what they would be doing to help you?

I just can't imagine they are going to be able to do something that you aren't able to do on your own.

But I'd like to hear why you are thinking about this service.
It's actually very easy to start with no credit and build it, the fastest way I know of is to get a secured Visa or MasterCard, basically you put a $500 and up deposit at your bank which is held in trust, you are issued a credit card for the same amount, use the credit card but keep it paid off each month or during the month, this activity is reported to the credit reporting agency's, after 6 months you should be able to get credit assuming you make all payments on time and generally speaking do not use more than 60% of the available credit.

Cell phones and utilities are easy to get credit wise, put these in your company name and keep them paid as it is also reported.

Vehicles would be the next step as a line of credit will be the hardest to get unless you are a sole proprietor, then you would be required to generally co-sign at which time they will look at your credit and the company assets.
__________________
Andy
Halifax, Nova Scotia
Reply With Quote
  #5  
Old 11-30-2010, 09:31 PM
MAKLawnCutter MAKLawnCutter is offline
Senior Member
 
Join Date: Apr 2010
Location: Central FL
Age: 30
Posts: 249
Rep Power: 5
MAKLawnCutter is on a distinguished road
Default

Cell phones by ANY provider do NOT apply a positive for any reason.

They only apply a negative if you do not pay and close your account with out payment.

Matt
Reply With Quote
  #6  
Old 11-30-2010, 09:59 PM
Paineless Creations's Avatar
Paineless Creations Paineless Creations is offline
Senior Member
 
Join Date: Jan 2010
Location: West Richland, WA
Posts: 205
Rep Power: 6
Paineless Creations is on a distinguished road
Default

Quote:
Originally Posted by picframer View Post
It's actually very easy to start with no credit and build it, the fastest way I know of is to get a secured Visa or MasterCard, basically you put a $500 and up deposit at your bank which is held in trust, you are issued a credit card for the same amount, use the credit card but keep it paid off each month or during the month, this activity is reported to the credit reporting agency's, after 6 months you should be able to get credit assuming you make all payments on time and generally speaking do not use more than 60% of the available credit.

Cell phones and utilities are easy to get credit wise, put these in your company name and keep them paid as it is also reported.

Vehicles would be the next step as a line of credit will be the hardest to get unless you are a sole proprietor, then you would be required to generally co-sign at which time they will look at your credit and the company assets.
Great advice thanks!!!
Reply With Quote
  #7  
Old 12-01-2010, 06:11 AM
picframer's Avatar
picframer picframer is offline
Andy
 
Join Date: Jan 2009
Location: Halifax, Nova Scotia
Posts: 2,885
Rep Power: 10
picframer will become famous soon enough
Default

Here is also a good read, reporting by Utilities/cell phone probably vary from company to company and the rules within the state, here in Canada it is the law that it is reported.

http://www.creditcards.com/credit-ca...eport-1282.php
__________________
Andy
Halifax, Nova Scotia
Reply With Quote
  #8  
Old 12-01-2010, 11:37 AM
Steve's Avatar
Steve Steve is offline
Administrator
 
Join Date: May 2003
Posts: 37,118
Rep Power: 10
Steve has disabled reputation
Default

What about financing equipment? Would that be a good intermediate step to build credit before purchasing a vehicle?

We had some discussion on here in the past about financing equipment.

I think it was Andy who said to put 25% down and finance the rest, or maybe I am wrong on that.

But how would that help and what % should be put down? Does that effect the building of credit?
__________________
- Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
Download your Free trial of Gopher Lawn Care Software.
Reply With Quote
  #9  
Old 12-01-2010, 12:57 PM
picframer's Avatar
picframer picframer is offline
Andy
 
Join Date: Jan 2009
Location: Halifax, Nova Scotia
Posts: 2,885
Rep Power: 10
picframer will become famous soon enough
Default

Quote:
Originally Posted by Steve View Post
What about financing equipment? Would that be a good intermediate step to build credit before purchasing a vehicle?

We had some discussion on here in the past about financing equipment.

I think it was Andy who said to put 25% down and finance the rest, or maybe I am wrong on that.

But how would that help and what % should be put down? Does that effect the building of credit?
I know with Deere it's 0% down and no payments for 365 days for commercial gear, I have used it twice but I still put 10 to 25% down, put the profit from the piece in a seperate account, when there is enough in the account, generally 6 to 9 months, I pay it off.

But yes, it will build your credit also.
__________________
Andy
Halifax, Nova Scotia
Reply With Quote
  #10  
Old 12-02-2010, 04:10 PM
Steve's Avatar
Steve Steve is offline
Administrator
 
Join Date: May 2003
Posts: 37,118
Rep Power: 10
Steve has disabled reputation
Default

Andy,

Are there any benefits to taking longer to pay off equipment? Possibly tax benefits? Or no?
__________________
- Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
Download your Free trial of Gopher Lawn Care Software.
Reply With Quote
Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Need help with building website Fluster33 Search Engine Optimization and Website Design Discussions. 15 08-06-2010 06:14 PM
Building A Buzz Steve General Business Discussions 1 03-06-2006 11:31 AM

» Recent Threads
  RatingTitle, Username, & Date Last Post Replies Views
I lost a long term...
Sprinkler Buddy
09-04-2011 02:24 PM
Today 08:23 PM
by Just for Cuts
13 3,291
Flag or no flag
Matther777
03-24-2015 02:41 PM
Today 05:50 PM
by Sprinkler Buddy
9 262
Office Administration...
Girlfriend
Today 05:40 PM
Today 05:40 PM
by Girlfriend
0 18
Office Administration...
Girlfriend
Today 05:32 PM
Today 05:32 PM
by Girlfriend
0 19
Billing methods
jcurr33
Today 01:33 PM
Today 01:33 PM
by jcurr33
0 32
introducing myself
chris2500hd
03-24-2015 11:16 AM
Today 01:22 PM
by chris2500hd
7 153
Commercial Jobs
CurbAppeal1
Yesterday 04:22 PM
Today 12:44 PM
by Steve
4 108
Mower vs lot size advice
jcurr33
Yesterday 09:29 PM
Today 04:49 AM
by avetslawncare
2 82
Finally got a warehouse
avetslawncare
03-12-2015 07:52 PM
Yesterday 08:57 PM
by SGL1
9 432
Is this tree beyond help?
SGL1
03-22-2015 05:35 PM
Yesterday 08:55 PM
by SGL1
14 442
hoa bid need help
bigdaveha12
03-24-2015 08:29 PM
Yesterday 08:04 PM
by avetslawncare
4 141
Opinions on truck wrap
Trupro
02-28-2015 03:21 PM
Yesterday 07:54 PM
by Trupro
33 1,463
How do you get...
ESREVER
Yesterday 01:30 PM
Yesterday 07:20 PM
by avetslawncare
6 119
Bid for large home...
lxarth
03-22-2015 11:06 AM
Yesterday 03:44 PM
by jrs.landscaping
7 234
Employee job training...
brookline
12-15-2014 07:15 PM
Yesterday 03:26 PM
by ESREVER
25 2,295
The New Wave!!!! Read...
Jamesw86
03-22-2015 08:33 PM
Yesterday 02:50 PM
by Steve
10 258
grass in the gas tank
robkattankate
03-23-2015 04:37 PM
Yesterday 02:36 PM
by Steve
5 141
Helping others
hansenslawncare
09-15-2011 08:50 PM
Yesterday 02:33 PM
by Steve
11 2,618
DOT Number
acrajchel
03-20-2015 05:56 PM
Yesterday 02:28 PM
by Steve
7 271
Michelin x tweel.
apmAkron
03-23-2015 04:22 PM
03-24-2015 12:40 PM
by Steve
3 98
Trepidation about...
michellemarvin
03-23-2015 07:46 PM
03-24-2015 11:47 AM
by Steve
1 95
spike aerator???
Bradcook21
03-21-2015 01:55 PM
03-24-2015 10:32 AM
by acrajchel
4 162
Hello from Maryland
michellemarvin
03-23-2015 12:44 PM
03-23-2015 07:33 PM
by michellemarvin
2 98
hello from south GA.
CCandALawnCare
03-23-2015 03:46 AM
03-23-2015 07:06 PM
by CCandALawnCare
2 94
Say Hello !!!
Steve
03-19-2007 11:18 AM
03-23-2015 06:14 PM
by jethro
1,218 379,811
Is anyone doing mosquito...
BWild
01-27-2015 11:30 AM
03-23-2015 12:28 PM
by Steve
9 798
35,000 Eddm
greenscaper123
03-18-2015 12:51 PM
03-23-2015 11:48 AM
by BLC7
18 436
Need some advice about...
Wolf4dk
03-22-2015 10:48 PM
03-22-2015 10:48 PM
by Wolf4dk
0 154
Should i take on this...
christw
03-17-2013 01:23 PM
03-22-2015 09:02 PM
by ExtremeLawncareServices
36 7,514
mower stalls when...
boog
03-19-2015 08:20 AM
03-21-2015 08:13 PM
by Wolf4dk
7 231
Weed and Feed
robkattankate
03-19-2015 09:00 PM
03-21-2015 01:53 PM
by Bradcook21
4 265
These are the days on...
ExtremeLawncareServices
01-11-2015 10:41 AM
03-20-2015 10:00 PM
by ExtremeLawncareServices
32 3,561
Hello Emily Reyes from...
Webster14829
03-20-2015 11:23 AM
03-20-2015 03:36 PM
by Steve
2 152
Finally going to give it...
jcurr33
03-12-2015 08:09 PM
03-20-2015 03:31 PM
by Steve
10 508
Weed id?
SGL1
03-17-2015 08:20 PM
03-20-2015 02:37 PM
by Steve
6 244
Mobile small engine...
luckylogger
03-15-2015 02:05 PM
03-20-2015 06:17 AM
by jrs.landscaping
15 437
Brad Cook 21
SC93
03-16-2015 10:40 PM
03-19-2015 09:04 PM
by Bradcook21
4 321
honest opinion please
uppercut
02-17-2015 01:30 AM
03-18-2015 02:55 PM
by Steve
15 1,266
Repair or replace the...
lxarth
12-17-2014 04:07 PM
03-18-2015 02:49 PM
by Just for Cuts
21 1,991
new to the site
bigdaveha12
03-17-2015 09:13 PM
03-18-2015 02:33 PM
by Steve
1 177
Small dovetail truck...
ExtremeLawncareServices
03-04-2015 06:47 PM
03-17-2015 10:14 PM
by ExtremeLawncareServices
17 824
New Site Hows it look
Infinitelawn
03-16-2015 10:32 AM
03-17-2015 08:15 PM
by SGL1
3 236
mulch questions
Bradcook21
03-08-2015 08:37 AM
03-17-2015 07:00 PM
by Bradcook21
23 933
Scag hydro w/b frame...
Just for Cuts
03-11-2015 03:32 PM
03-17-2015 06:37 PM
by lxarth
11 461
Buy new or used?
lxarth
12-26-2014 09:50 PM
03-17-2015 06:11 PM
by lxarth
14 1,665
New to 2015
Infinitelawn
03-16-2015 08:29 AM
03-17-2015 11:47 AM
by Steve
4 263
Pulling trailer was...
SGL1
03-07-2015 07:14 PM
03-17-2015 08:11 AM
by SGL1
30 1,093
Diesel conversion?
Just for Cuts
03-02-2015 09:59 AM
03-16-2015 03:26 PM
by Just for Cuts
10 602
trimmer racks.
apmAkron
03-12-2015 09:07 AM
03-16-2015 03:17 PM
by Steve
4 326
Ferris FW35 questions
Chilehead
03-10-2015 08:31 PM
03-16-2015 03:11 PM
by Steve
4 320
» Popular Tags
ad landscaping administration aerocore apartment bid apartment lawn care estimate applying auger billy goat brushcutter bush contract help curb appeal services deliquentaccounts design ditches door hangers employee problems equipment rental estimate facebook ferris foreman google gravely growing a lawn care business how to husqvarna introduction jobs john deere quik trac landscape services lawn lawn care lawn care busines plan lawn care business seo lawn care business website lawn care business website seo lawn care seo lawn care website lawn care website seo lawn mowing managing a lawn care business marketing marketing secrets mulch new mower per hour service pricing pto secrets to landscaping seo shell snow plowing square foot starting a lawn care business steep lawns theft toro toro grand stand tractor auger trailer trailer mate pro tree up sell employee virtual assistant web design website website design winterization wood wright stander rh
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 08:30 PM.


(C) 2011 Riggs Publications - Terms of use & Privacy Policy

All times are GMT -5. The time now is 08:30 PM.

(C) 2011 Riggs Publications - Terms of use & Privacy Policy