Experienced Accountant Crashes and Learns the Hard Way about Business Credit

Madison Heights, MI (PressExposure) April 10, 2009 -- Susan Carter, an accountant with 25 years experience, met with Mark Maupin, who has been one of the Detroit area’s major real estate investors. He is now a Wayne County Community College instructor and is teaching business marketing to entrepreneurs and new business owners. Mark met Susan in one of his marketing classes and decided to get together with her to discuss how she had finally succeeded in her business ventures. Susan started out by stating that “I’ve been an accountant for almost 25 years. I’m very familiar with ‘corporate’ credit, but I crashed badly a few years ago because I was using personal credit to obtain money for my startup businesses. I found out the hard way that using my own personal credit was an extremely costly mistake.” She went on to tell Mark that when she started her first two businesses, she didn’t understand how stupid it was not to use a tax ID number to fund her businesses. She used her own social security number instead. She drove her FICO scores into the toilet because her debt-to-income ratio was so bad that even if she knew how to apply for business lines of credit, or business loans, she couldn’t because of her poor credit. She thought only “big” businesses could get credit. She paid dearly for this mistaken knowledge. Susan said that “for many years my poor credit scores cost me with high interest rates on my car insurance and credit card finance charges. This stress was so great at times that I just wanted to cry and just give up my dream of having a successful business I could call my own. I finally got out there and learned from books, seminars and credit repair programs exactly what I did wrong.” “I’ve now got a separate legal entity for all of my businesses and each has its own tax identification number from the IRS. I also have a business VISA credit card that has a balance that does not go on my personal credit report. I have separate business checking accounts and I never mix personal expenses with business expenses. I know how to get business lines of credit, business credit cards that do not report to my personal credit, unsecured credit lines, unsecured business loans, and new working capital for my business.” Susan went on to say “I’ve worked very hard at cleaning up negative entries on my personal credit reports so that now when I start a new business venture – if I have to give a personal guarantee – I know that my high credit scores will greatly improve my chances of getting the lines of credit for business.” Mark knew that the collection of all this knowledge came from a long and tedious learning process. Susan acknowledged this and said that “I know that many other people are trying to get their dream business going and I know from personal experience that all this information is not readily available in one place or from one source, so I decided to help.” “I’ve written an e-Book that gives step-by-step instructions on how to register the name of your business, how to register it correctly with the State and how to make your business present itself to the business world as ‘established’. I’ve taken all of the date I’ve collected through the years and created a concise format that anyone can follow. I’ve got the tools to help anyone start out on the right path to success – without risking their personal creditworthiness.” Susan told Mark during their meeting “I want other people to get the benefit of my experience and knowledge because so many individuals helped me during my struggles and I want to pass on my gratitude by helping even more people.” “Basics” of Business credit is the name of Susan’s new e-Book. You can find out more about it – and the bonuses that she is giving away for free – on her website: http://www.susansbooks.com. When you purchase her e-Book you will also get a Free Credit Restoration Guide with 13 sample letters you can use immediately to begin to clean up the negative entries on your credit reports. This article was submitted by: Start With The Basics, LLC P.O. Box 71481 Madison Heights, MI 48071 Email: susan@susansbooks.com

About Start With the Basics, LLC

Susan Carter, author of “Basics of Business Credit,” has created an e-Book that provides instructions on how to set up a business entity correctly from the start. She has the knowledge to help anyone avoid the trap of having to use personal funds and assets to get their business started

Press Release Source: http://PressExposure.com/PR/Start_With_the_Basics,_LLC.html

Press Release Submitted On: April 09, 2009 at 6:12 am
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