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nikuk

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  1. Oh, I also got approvals for a Lending Club LOC with PG, didn't take it; as well as an Upstart IL, didn't take it.
  2. while I was on a roll with another entity, app'd 1/21 & got the letter today. Approved for New Egg Net55, $4k . "We were unable to assign a higher credit line for the following reasons: total amount of credit available on trades age of oldest account"
  3. Have some of you guys actually TRIED for a biz mortgage? It's not a unicorn... I talked to a couple of serial land lords and had 3 different bank referrals like it was nothing. Yes. No where as easy or cheap as a consumer mortgage. I did this ~3 years ago with an extended family member's home as part of Medicaid planning... some of the highlights: The loan (and title) is in the name of the LLC (taxed as an S corp) with no PG 65% LTV, which meant a large down payment - thankfully we were purchasing for the assessed value. 12 months cash reserves in the company bank account Proposed income (rent) had to be 125% of the proposed expenses. 5 year prepayment penalty. The rate was about 1.0% higher than consumer mortgage rates at the time.
  4. All I did for MSC was filled out the online app linked below. Couple days had a letter with an account # & credit limit; placed an order. https://onlineapp.dnbi.com/createApp/MSC+Industrial+Direct+Co+Inc?token=0imjEqDvYRmz7FdSRXudfw%3D%3D%0A Is there no way to pay an MSC net 30 invoice online??? nevermind, a 60 second online chat and this was setup on my account.
  5. This is a 5/2014 internet retail business. I had never bothered trying to juice the business credit with this one. Setup a few tradelines during the course of normal business, but they don't report of course. As of today this company has scores of Paydex 80 | Exp 89 | Equ 498. Exp is showing (1) tradeline & (1) revolver. Same for Equ. I will pay off the ~$400 revolving balance - and that CL was just doubled last week, so that should help a but too. I'll get Uline going for this company also. Other than that, business as usual But, are there any fun TLs I can get with this company with these scores?
  6. If you don't mind, what kind of revenue / profit did the tax returns show? Apologies in advance if that's asking too much.
  7. Thanks for the info on NASA - have added it to the "to-do" list. Small update - Experian has updated the company name & address to reflect the sec of state records (what I wanted them to be) and still shows: Business Type: Corporation Experian File Established: November 2012 Experian Years on File: 4 Years Years in Business: More than 4 Years Still going to wait a few weeks before submitting anything to them, or app'ing.
  8. Surprised that WF doesn't report, I thought I'd read here (and that other site) that it did. Will look into, thanks. Appreciate the info on the name change.
  9. Oh, and the only reason that I app'd CapOne already is because I know it reports to commercial Exp & Equ, and once I discovered that this corp has a Exp file I figured why not. Yes it's a PG, and I DO have a (2) personal CapOne cards; a different business CapOne Spark; and this corp's checking is with CapOne. I was pleasantly surprised when it went through, and that helped me make the planned timeline more aggressive. Also, along the same lines, is there ANY point in waiting on app'ing Wells Fargo? I basically expect to go with a $1k secured, but I'm on the fence about whether or not there is any benefit to waiting.
  10. I am in a scheduled lull of activity (gardening I suppose) at the moment so I might as well offer yet another recap thread. I hope it may help - though I don't know that anything here is groundbreaking. This is my 2nd business entity and as far as that goes is a B2B services company. 12/2015 - Getting started. Bought a LLC dated 10/2012. Filed name change with sec of state. Got an FEIN. Business checking / savings / debit card. Also opened a Paypal account. Using a public record address for the sec of state records (physical address) and a virtual office mail address. Setup a virtual 800# service. Bought a domain & forwarded @doamin email to personal email. Put up a 3 page website on the domain. Submitted into to listyourself; google places; and a couple others. Submitted to iupdate.dnb for a DUNS which was just issued. 1/2016 - Formalities The DUNS shows the business was created in 1/2016 because the system didn't find a record with sec of state - gonna see about correcting this next week. The company already had a experian file, but it was under the former name. Submitted a validation to update to reflect the name change (as shown on the sec of state website) to current. No Equifax file - no surprise Sent off 8832 to IRS to elect C Corp tax. Going to use the company for benefits, payroll, and retained earnings (after spending down). 1/2016 - Let's go! Approved for:MSC Direct ($500 NET30) Uline (NET30) Quill (NET30) Grainger (NET30) Amsterdam (NET10) UPS (NET30) Capital One Spark PG'd ($1,000) Declined:FedexOffice "Pending" AppsSunbelt Rentals Newegg NET55 (got greedy, I know ) Just to be sure I placed $75-100 orders with MSC; Uline; Quill; Grainger; & Amsterdam. Even bought a $12 tracking with UPS. I have already paid 4 of those, I'm waiting on the invoice to be cut for the last 2 and will pay them. The plan now is to try and sit on my hands. 1/19/2016 - Check on D&B file update 1/25/2016 - Get some contact details changed on vendor accounts to reflect mailing addresses, etc. Expecting to pay the last couple of opening invoices. 1/30/2016 - Check on Experian file update. If updated then probably setup monitoring service for the year. Curiosity killed the cat and all... supposedly can submit tradeline info too. 1/30/2016 - check and see if Equifax has picked up on the Cap One yet. If so then consider setting up monitoring with them too. 2/2016 - Setup Wells Fargo Secured, and possibly Kabbage (i've used them before in another business)3/2016 - Depending on progress, look at app WEX, Staples, Dell, Home Depot - potentially with PG.6/2016 - Depending on progress, look at app Amex Simply Cash, Chase INK, Amazon / Newegg (Synchrony), or other "tier 3" accounts. Absolutely no PG.1/2017 - Be able to (whether we do it or not) get standalone (no PG) approvals for auto & equipment leases.
  11. Depends on your goals. I use traveling mailbox (dallas location) for a mailing address, and a 'public service' address with my registered agent for the physical address. I have had zero problems in doing this. Admittedly the reasons that I use virtual on virtual is because I will be moving to 3-4 addresses within the next 6 - 10 months (selling home, moving out of state, looking for and buying a new home) - so whatever minor downfalls I run into aren't going to outweigh the ease of operation that this allows me. If that makes sense... Purely from the perspective of building credit? IDK, it hasn't slowed me down yet, but I've just gotten into the unsecured revolvers stage.
  12. Kabbage is like a short term LOC. The "fees" & "interest" that they roll in are generally pretty high. I've used and abused Kabbage for about a year now - more than $100k over 5 different "draws" used to buy fast turning inventory. If you pay it back early the total cost of the money comes down to a reasonable APR. Also, Kabbage DOES NOT report to business or consumer credit. I've begged them to report for the business LOL. Lastly, in my case, they didn't even pull business credit. They pull my revenue information from Amazon / eBay / Paypal / Shopify and base my CL on that.
  13. I've finally begun actively working on a business credit project, but I'm curious as to if you folks think it worthwhile to sign up for the CRA monitoring? Let me clarify that I am well aware of the scam that is D&B so I am not talking about them Specifically I'm asking about Exp & Equ. Just got an approval for a Cap One Spark with PG (I know that my Spark card on another business reports to Equ) so I expect it'll hit Equ. Obviously D&B Credit Signal is free and works for what it is... though I'm not very concerned about D&B. We have the starter tradelines in order and submitted an iUpdate to get the records correct & DUNS issued. I see that Experian DOES have a company file, but has the old company name. I just submitted an email to the "dispute" contact info with supporting state documentation to reflect the name change & address changes. Equifax does NOT have results for the company under either name which isn't a big surprise. Thanks for sharing your experiences, it has helped me, and many others, greatly!
  14. I just discovered that Cap one Spark is reporting as a financial on my Business Equifax. I was very pleasantly surprised. It looks like its been reporting there since a few weeks after we opened that one (7/2015). Soooo I went and app'd & approved for a Spark card on this 'new' business as well in the hopes of getting an Eq report going for it!

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