http://BusinessCreditAmerica.com Understanding a 80 Paydex Score and Business Credit Score/Rating
In this video I explain to you the difference between a paydex score and a business credit rating.
First, understanding that a paydex score is based off a customer paying 3 to 5 trade credit vendors on time. Trade credit vendors commonly called Net30 Accounts give credit to start-ups or established companies. There is not a lot of factoring that goes into it.
Now lets look at a few important things that are used to factor a business credit rating.
1. A company's size and it's structure pay a key roll in it's credit rating. I explain these factors in my new ebook "The Insider Bank Secrets."
Click here to get the book
http://www.businesscreditamerica.com/business-credit-without-net30-accounts/
2. The industry risk code or SIC CODE AND NAICS CODE also help to factor your business credit rating. In my new ebook, I give you examples of good and bad risk codes in helping you to obtain business credit funding.
3. The outstanding balances of your accounts payable will also affect your business credit rating.
4. Paying your bills on time or earlier help determine you a good risk as well as your credit card utilization. Having high utilization, but low credit card balances also has an impact on your business credit score.
5. Having good public records and updated financials help boost your business credit score. When file those ucc-1 financials statements showing you paid a loan off, or paid a lien in full you are showing lenders your business is a good credit risk. Always keeping up to date financials on file to show the growth in your business also has a positive influence or your business credit rating. I explain all these steps in my new ebook "The Insider Bank Secrets."
Click on the link to get the book
http://www.businesscreditamerica.com/business-credit-without-net30-accounts/
6. The length of your credit history for the business also is important. This show the business has stability and profitability over a period of time. In our business credit forum, we show our members how to create this history.
Click on the link to get the ebook and check out the forum. http://www.businesscreditamerica.com/business-credit-without-net30-accounts/
How about when you get that call on the phone to ask if you would please buy a magazine subscription at a ridiculously low rate to help a particular charity to raise money? Again, most people would sign up because well, they like to read and always wanted that particular magazine. Normally you would not subscribe to it as it is an unnecessary expense. But now it is for charity so, why not? You get the enjoyment of your favorite magazine and the charity gets the funds it needs.
These methods are just some of the ways that charities have instituted to help them to raise funds. Rather than ask outright, why not give people something that they may already want while asking for a donation. Retailers have similar way of working. Product Red aka (PRODUCT)RED was formed to raise awareness to awareness and funds to help eliminate HIV/AIDS in Africa.