What We Do
Our job is to help you secure capital for your business, without having to rely on your personal credit. On the foundation of your existing corporation or one of our aged 'shelf' corporations, we offer advanced, proven strategies to help you secure real corporate credit.
How Does the Process Work?
Purchasing a corporation is just the first step. After purchasing one of our shelf corporations, we'll help you to take care of all the other details involved in building credit, including:
1. Perform name change
We electronically file a name change with the secretary of state of Colorado. In some cases you can choose the corp. name. The formation date remains unchanged. This is normally done within 2 weeks of purchase.
2. Establish a physical location
We setup a physical office location In Colorado where you can receive mail phone calls (which are forwarded). The setup fee is $135 and the monthly cost is $95. This is an added cost but is critical to the processof obtaining credit.
3. Get listed with 411
Technically this is part of the process of setting you the office but included in the monthly price you are given a local Colorado phone number that is registered with local Qwest information and propagates through the entire information system.
This is one of the most critical steps because creditors must find you on the information system before you can get approved for any business credit. This is started within the first 2 weeks, but can take a month or more to propgate.
4. Get your EIN number
Your EIN is like the fingerprint of your corporation and it is how creditors will identify your business as separate from you personally. This is the number that is given on credit apps instead of your Social Security number.
This is completed electronically and is done within the first 2 weeks.
5. Get a D&B number
Getting a DUNS number is crucial to establishing a profile with Dun and Bradstreet, one of the major business credit bureaus that most creditors check before extending your business any credit. We can get your DUNS number electronically at no additional cost.
This takes about 2 days to receive and is done within the first 2 weeks.
6. Establish a corporate bank account
Your business is not really established until you have a corporate bank account. We help you establish one by taking the complete file that a banker needs to open your account. They still contact you and send you the signature cards via Fed EX for you to sign.
This step can normally be achieved within the first 2 weeks.
7. Get 5 vendors reporting to credit bureaus
This is the most fundamental step to building a successful credit file. When creditors check your file they want to see that other vendors have posted your payment history so they can see you have made on-time payments and how much credit you have been entrusted with.
Most business accounts don't report your credit history at all! However we work with vendors who will extend credit and report your payment history right away! This process can take a month or more.
8. Get three major credit cards
This is accomplished once you have 3 trade lines reporting to either Experian or D&B. Once approved it generally takes 7 - 10 days to receive your first credit card. The limits on you first starter MasterCards range from 3k to 5k, but can be quickly increased to 10k once you have made several on time payments. This usually takes 1-2 months.
9. Develop forward-looking financial statements and bank packet
Once you have 5-8 trade lines you can begin developing your financial statements that will be needed to apply for higher lines of credit. This can take a few weeks get ready.
10. Apply for high limit credit cards & lines of credit
Once you have 5-8 trade lines and your financial statement, we direct you in the process of where and how to send your banking packet. This process can help you secure lines of credit ranging from $25,000 to $50,000.
Arriving at this step typically takes between 3 to 6 months.
How a Shelf Corporation Can Help Your Business
It's impossible to build business credit as a sole-proprietor without a personal guarantee. Even if you have formed a corporation, you won't qualify for business credit if it's too new (less than 2 years old).
A shelf corporation, however, enables you to secure financing for your business without a social security number or any other personal information. A shelf corporation is 'aged', generally several years old, and ownership can easily be transferred to your business.
These corporations are blank slates, never used before, and represent a solid foundation for building corporate credit.
Other Types of Accounts
After your initial lines of credit are established, you will be able to get approved for Net-30 accounts, major credit cards, vehicle installment loans, lines of credit with major banks, leases for equipment and more!