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Scalable Real Estate Investing

#28 Unlocking Business Loans Not Tied to Your Personal Credit with Stephen Wible

Jun 8, 2021
Stephen Wible, a Marine Corps veteran with real estate sales and credit-building experience, discusses the power of business credit, obtaining non-recourse debt, and the primary business credit reporters. He explains how most business credit cards are tied to personal credit scores and shares strategies to increase credit limits. Wible emphasizes the significance of business credit for funding day-to-day operations and obtaining loans. He also discusses factors influencing lenders, the impact of multiple bank accounts, and insights on the housing market.
51:20

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Most companies you transact do not report to the credit rating agencies unless you specifically ask them.
  • Business credit can be a powerful tool to unlock hundreds of thousands of dollars of non-recourse debt that’s not tied to your social security number.

Deep dives

The Importance of Business Credit

Business credit plays a vital role in running day-to-day operations as it provides credit for necessary business expenses. It allows businesses to access credit and establish relationships with vendors, suppliers, and other companies. Business credit can also be used to secure loans, acquire high-limit credit cards, and access various financing options. Building a strong business credit profile is crucial to demonstrating financial responsibility and qualifying for credit. By establishing good payment history and managing business credit effectively, businesses can gain access to higher credit limits and better financing opportunities.

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