(EMAILWIRE.COM, February 18, 2009 ) Detroit, MI - Susan Carter met with Mark Maupin, an experienced real estate investor and instructor at Wayne County Community College in Detroit, Michigan, to explain how she got money for her business ventures by understanding how personal credit impacts a person’s ability to get business credit.

Many individuals have great marketing ideas, but can’t get their business up and running because of a combination of bad credit and no capital for their business. With the proper knowledge, Susan explained how both of these problems can be remedied.

“I’ve been an accountant for over 25 years. I’m very familiar with business credit and how to avoid the pitfalls of using personal credit to obtain money for your business. I found out the hard way that using my own personal credit would be very costly.”

“When I started my first two businesses, I didn’t understand how to use a tax ID number (IRS assigned EIN) to fund my business instead of using my own social security number. I pushed my FICO scores way down below an acceptable level because of the credit card balances that were caused by my business expenses showing on my personal credit reports. My debt-to-income ratio was really poor because I didn’t know how (at the time) to obtain business lines of credit and vendor credit under my company names. I thought only “big” companies could get credit. I paid dearly for this mistaken knowledge.”

“For many years I had poor FICO scores that cost me with high interest rates on everything from my car insurance to my credit card finance charges. The personal stress was so great at times that I just wanted to give up my dream of ever having a successful business I could call my own. I finally learned from reading books, going to seminars and buying credit repair programs exactly I was doing wrong.”

“I now have a separate legal entity for all of my businesses and each one has its own tax ID number. I have a business VISA credit card that does not report to my personal credit, and I have opened separate business checking accounts for all of my businesses. I never mix personal expenses with business expenses, they are kept absolutely separate.

“I’ve worked very hard at cleaning up errors on my personal credit reports so that when I start a new business – if I have to give a personal guarantee – I know that my high FICO scores will greatly improve my chances of getting the business line of credit or the vendor credit card.”

“All of this knowledge came from a learning process that was tedious and time consuming. I realized that many other people are trying to get their dream business off the ground and I knew that all this information was not readily available in one place, so I decided to help this situation.”

“I’ve written an e-Book that gives step-by-step instructions on how to name your business, how to register it with the State and how to make your business appear “established” so that when a vendor or lending institution looks at your company they will find everything they need to approve your application. I’ve taken all of the information I’ve collected over the years and put it in a concise format that anyone can follow. There is still work that has to be done to get your business off the ground, but I’ve given you the tools to start out on the right path to success – without risking your personal credit.”

“The name of my e-Book is Basics of Business Credit. You can find out more about it – and the bonuses that I’m giving away for free – on my website: http://www.susansbooks.com

Contact:
Start with the Basics, LLC
Phone & Fax: 248-399-7808
Email: Susan@SusansBooks.com


This press release was submitted by the Right Now Marketing Group, LLC

Contact Information:
Start with the Basics, LLC
Susan Carter
Tel: 248-399-7808
Email us


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