Hello guys,
I hope that your business credit building journey is going well. Since I started giving away the Business Credit Bible, the interaction
with the readers has been great. I get a lot more emails with questions and concerns and I encourage you to keep asking questions. I will be answering all questions on the blog now. I got an email from a reader today about her specific situation. I am going to paste the email as it was sent and answer her questions in this post.
Hello Marc,
I read your book and am so excited to get started! It was very easy to follow and gave a step-by-step explanation anyone could succeed with.
I have a few questions:
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Q1. What comes with the monthly coaching you offer?
A1. The monthly coaching is a full service package. We at CreditRich do all the business credit building, and you sit back and receive cards and accounts in the mail. We have some clients who want a more hands on approach, and they simply have a bigger part to play in the process. In a siatuation where the clients wants to be more envolved, I personally guide them every step of the way, but most clients do not have much time and opt to have us do all the work.
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Q2.Could you go into detail about the shelf corporations you have for sale. Can I change the name to the name of my business and how does that effect the corporation name I will have?
A2. I have Shelf Corporations that are 3 years old with a clean credit file for sale for $1200. We do have a service that is a lot cheaper. You pay the monthly fee of $199 and I find you a Shelf Corporation using the system outlined in Shelf Corp Magic and you simply pay the $100 state fee. You can change the name of a Shelf Corporation but I always advise that you do a DBA instead of changing the name. When getting a Shelf Corporation, most people use them solely for Business Credit Building purposes and not to actually do business with. That reduces the risk of your actual business but still give you access to cash to run and grow your business.
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Q3.Since my company will be incorporated in a different state that i will be doing business in, is there anything special that I need to do on top of what’s in the book?
A3. For business credit purposes, there is nothing you need to do. If you plan on operating in a different state and taking payments and so on, the state may require you to file a foreign filing and to get a business license in that state.
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Q4. Since my business is food and I need a license to sell, but in order to get a license I need a facility, but I need capital inorder to get the facility how would I effectively apply for a DUNS# as well business credit?
A4. This does not directly affect you or hinder you from applying for a DUNS number or building business credit, but here is the thing. When applying for business credit, you have to look liek an actual company even if you are using a shelf to build business credit. If, when registering with DnB, you say that you are in the business of selling food, creditors can ask for the license needed to sell food. It is not likely, but it is possible. If I were you, I would either 1. Use a seperate entity to build business credit or 2. Set up your current company as a consulting company that consults on food projects(that way you may not have to change the name) and when you get the business credit, change your discription with DnB to the appropriate one. This is just a matter of choosing the appropriate SIC codes when registering with Dunn and Bradstreet.
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Q5. Would i change my “listed” address to the state where I will be incorporated or leave it at the state where the business will be?
A5. Your address will always be listed as the place where you incorporated. You can howevere, file a foreign filing in your home state so that both addresses can be listed on your credit file.
Thanks agian,
P.S. I love the news letters they are a wonderful source for people like me who have no clue about business credit!!
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I hope that her questions are similar to some of your questions and I look forward to hearing from you.
Marc Augustine
Build Business Credit before you need it
From what im gathering florida has a friendly sos site however i wonder if most people find them competitive when it comes to fees. nv seems to also be a good choice. can you tell us which states most people look in when trying to find a good entity?
Can any one provide me with the contact info, application etc needed to start the monthly full service package? I see where it exist, but I can’t find any of the contact info on how to apply for this program. I did try the phone No provided in the contact section of this site, but it was no longer in service!!! How do we start this and has anyone paid for this service and if so, how is it working out for you. Thanx for any infor you can provide.
Paul
Give me a call at 3054322921
I am interested in your monthly coaching business building program. I have some questions to ask. Do you accept calls on Saturdays? Thanks