business_credit_cardThere is an overload of internet based companies dominating good information about how you can establish business credit.  Promises and guarantees of up to $500,000 in unsecured business credit lines are presented as if it were an easy task.  Truth be told, actually three truths be told, they are correct and they can achieve these results for you easily.

The problem is, they charge on upwards of $2,500 just to enter their programs.  And as they act on your behalf and gain more credit lines, you are charged a percentage of the total amount and your small business is responsible for paying off the piece of pie they take.

Can you imagine, the debt you’re creating before you get to utilize a single dollar?  $500,000 in business credit lines can cost your business up to $100,000 in debt before you even get access to the funds.

I’m a firm believer in using other people’s money (OPM) to take risks with, but getting it and then giving it away is mind boggling to me.   Earlier I mentioned three truths and I’ve only covered two.

Let’s put at serious end to that right now! Read the rest of this entry »