Tag: #businesscredit

From Faith To Funding: How to finance your business without spending your own money.

Posted on by Ebby LeBlanc in Business Credit
Photo by Peter Olexa on Pexels.com

Christian entrepreneurs and visionaries!

Today, we’re diving into a crucial topic for realizing your dreams: funding your business. Whether launching a startup or taking your venture to the next level, securing the right funds is like fueling your faith-fired engine. So, grab your notepad, because we’re about to explore some savvy strategies to make those financial blessings rain on your business journey.

1. Prayerful Planning: Begin with the foundation of prayer. Lay out your business plan before the Lord, asking for His wisdom and favor in every financial decision you make.

a woman drinking coffee with a purple backdrop. 30 ways to monetize your God-given gifts.

2. Business Credit: I know you’ve heard not to use your own money to start your business. This is where business credit comes in. Read the Post, How to Get the Perfect Business Credit Score.

3. Faith-Based Grants and Contests: Many faith-based organizations and foundations offer grants and entrepreneurial contests. These opportunities can provide much-needed capital and recognition for your business.

4. Business Loans: Approach banks that align with your faith and values. Many institutions offer loans with favorable terms to entrepreneurs who are committed to ethical business practices. The Business Credit from Scratch course shows you how to build a relationship with the bank to get higher loans. Join the Wealth Builders Club to instant access to the Business Credit Course.

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5. Online Lending Platforms: Explore online lending platforms that cater to small businesses. These platforms can offer fast funding with flexible repayment options.

6. Ministry and Church Support: Your church community can be a powerful source of support. Share your business vision with your congregation; some members might be willing to invest or provide financial backing.

Remember, fellow entrepreneurs, that seeking funding is not just about money—it’s about finding partners who believe in your vision, share your values, and want to see you succeed. So, as you embark on this journey, keep your faith strong, your dreams alive, and your financial strategy firmly rooted in God’s grace.

The Road To Financial Freedom is This way,

The EL Consulting Group

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From Faith To Funding: How to finance your business without spending your own money.

Christian entrepreneurs and visionaries! Today, we’re diving into a crucial topic for realizing your dreams: funding your business. Whether launching a startup or taking your venture to the next level, securing the right funds is like fueling your faith-fired engine. So, grab your notepad, because we’re about to explore some savvy strategies to make those…

Ebby LeBlanc's avatar by Ebby LeBlanc

The blueprint for a lucrative, budget-friendly Passive income startup

In this fast-paced world, the need for multiple income streams has become more apparent than ever. As Christian entrepreneurs, we navigate our businesses with a unique perspective, seeking not only financial success but also a sense of purpose aligned with our faith. But let’s be honest, the idea of working 24/7 is far from the…

Ebby LeBlanc's avatar by Ebby LeBlanc
A group of women sitting on the beach. Join our accountability group

Bust the Myths! Unveiling the Truth about credit

Posted on by Ebby LeBlanc in Personal Credit
a jean pocket with Mastercard credit cards in it.
Photo by Pixabay on Pexels.com

Are you aware of the common credit myths that might be hindering your ability to effectively manage and build your credit? It’s time to debunk these misconceptions and equip yourself with the right knowledge to take control of your financial future. In this article, we will expose the top 10 credit myths you should be aware of:

  1. Myth: Paying Collections = Deletion
    Truth: Paying off collections doesn’t automatically erase them from your credit report. While it’s crucial to settle your debts, collections may still appear on your report for a certain period.
  2. Myth: Credit Karma is Accurate
    Truth: Credit Karma offers valuable insights into your credit health, but keep in mind that their scores may differ from those used by lenders. It’s a helpful tool, but lenders may use different credit scoring models when evaluating your loan applications.
  3. Myth: Late Payments Can’t be Removed
    Truth: In certain cases, you can have late payment remarks removed from your credit report. By reaching out to your creditor and explaining the circumstances, you may negotiate the removal.
  4. Myth: You Need a Perfect Credit Score to Buy a House
    Truth: While a good credit score is beneficial when applying for a mortgage, you don’t need a flawless score. Lenders consider various factors, including your income, debt-to-income ratio, and overall creditworthiness.
  5. Myth: Bankruptcies Can’t be Removed
    Truth: Bankruptcies can have a significant impact on your credit, but they are not permanent. With time and responsible credit management, you can rebuild your credit and improve your financial standing.
  6. Myth: Having Multiple Credit Cards is Bad
    Truth: The number of credit cards you have doesn’t automatically harm your credit. Responsible management of multiple cards, such as maintaining low balances and making timely payments, can actually help build a positive credit history.
  7. Myth: You Need Perfect Credit to Build Business Credit
    Truth: While a good personal credit score can facilitate the process, a perfect score is not a requirement for establishing business credit. Check out the post How to Get the Perfect Business Credit Score
  8. Myth: Hard Inquiries Can’t be Removed
    Truth: Although hard inquiries may initially impact your credit score, you can have them removed. If you identify unauthorized inquiries or can prove that they were made without your consent, you have the right to request their removal from your credit report.
  9. Myth: You Can’t Use Credit to Fund Your Business
    Truth: Credit can be a valuable tool for financing your business endeavors. Whether through business credit cards, loans, or lines of credit, responsible credit usage can support your business growth and cash flow. Join the Wealth Builder Club to try our Business Credit Course for FREE HERE
  10. Myth: Income Helps/Hurts Your Credit Score
    Truth: Your income does not directly influence your credit score. However, lenders may consider your income when assessing your ability to repay debts. Factors such as payment history and credit utilization have a more significant impact on your credit score.

Now that you’re aware of these credit myths, you can confidently navigate the world of credit armed with accurate information. Remember, responsible credit management and financial discipline are key to achieving your goals.

If you have any questions or need further clarification, feel free to reach out. We’re here to support you on your credit journey! Click HERE for a Credit Consultation with our Team!

The Road to Financial Freedom is this way,

EL Consulting Team

women walking in the street. the Words, Wealth Builders club: Minding our faith and our business membership

Try Business Credit Course for $37

Posted on by Ebby LeBlanc in Business Credit
Photo by OVAN on Pexels.com

You’ve probably heard about business credit and how you can use it to fund just about any business need. In fact, you can even use it to fund a business startup plan.

Things You Can Do Using Business Credit

Buy a Laundromat

Start your AirBNB

Buy Rental Property

Start a Daycare

Buy a Vending Machine

Buy a car

Do you know why you should build business credit? There are numerous benefits to building business credit and leveraging to build wealth. Here are some reasons why you should invest the time and effort into establishing and nurturing your business credit:

  1. Separation of Personal and Business Finances: Building business credit helps you separate your personal and business finances. This distinction is crucial for protecting your personal assets in case of business debts, legal issues, or financial challenges.
  2. Access to Funding: Strong business credit opens the door to various funding opportunities, such as business loans, lines of credit, and business credit cards. These sources of capital can be invaluable for growth, expansion, and day-to-day operations.
  3. Lower Interest Rates and Better Terms: Good business credit often translates into lower interest rates and more favorable financing terms. This means you can borrow money at a lower cost, saving your business money over time.
  4. Business Growth and Expansion: With access to credit, you can confidently invest in your business’s growth and expansion. Whether it’s opening new locations, hiring more staff, or expanding your product line, credit can fuel your ambitions.
  5. Cash Flow Management: Business credit can help you manage your cash flow effectively. It provides a financial buffer during slow periods and ensures you have the resources to cover operational expenses.
  6. Vendor and Supplier Relationships: Building business credit can lead to stronger vendor and supplier relationships. When your business is seen as creditworthy, you may enjoy more favorable payment terms, discounts, and better access to essential goods and services.
  7. Professional Image: A strong business credit profile enhances your business’s professional image. It conveys reliability and stability to potential customers, partners, and investors, which can boost your reputation in the market.
  8. Preparation for Unforeseen Challenges: Life is unpredictable, and businesses can face unexpected challenges. Having established business credit can serve as a financial safety net during tough times, helping your business weather economic downturns or unexpected expenses.
  9. Asset Protection: Business credit can protect your personal assets. If your business faces financial difficulties, creditors typically cannot go after your personal property, such as your home or personal savings.
  10. Long-Term Viability: Building business credit is an investment in your company’s long-term viability and success. It sets the foundation for sustainable growth and provides stability as you navigate the ups and downs of entrepreneurship.

So, how do you get access to our course for $37?

You can join our accountability group. Wealth Builders Club: Minding our Faith & Our Business and get instant access to the Business Credit From Scratch Course at $297.00 value. This course teaches you how to build business credit from scratch without using your personal credit. It also teaches you how to leverage credit to build wealth. On top of that, you will have instant access to our Private Facebook Accountability Group, virtual meetups, and connections to professional who’ve gone before you to help ensure your success. You can access the full course now for just $37. I believe in the membership and the course, so I’m offering it with no obligations. That means you can cancel anytime. Try it out today!

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Read what others have said about the course!

“The thought of business credit was always very daunting for me and seemed unattainable for someone like myself just starting off. Wow, oh wow, was I wrong. This course is a must for your business.”

— Rachael Doucet

I just have to shout out EL Consulting for helping me to get started with establishing my business credit. She was able to break down a lot of theories that I had in the past and put me on the right track. She even offered me a link to set up one of my first Tier vendors. She made it super simple for me to establish what I needed to get started. Thanks, Ebby!

— Zoe Dominio Thomas

If you prefer a one on one approaching, you can book a call with one of our experts, HERE. Listen, building business credit and having accountability is not just an option; it’s a strategic move that can significantly impact your business’s financial health, growth potential, and overall success. By establishing and maintaining good business credit, you position yourself for a brighter and more prosperous future.

The road to financial freedom is this way, are you coming?

EL Consulting Group Team

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