Home About Us Meeting the
Requirements! Three Phase Process Does Personal Credit
Really Matter? Finanicial Resources at
Your Fingertips! Contact Us Site Map

Small Business Credit & Personal Credit

How Does Your Personal Credit Affect Business Loan Prospects?

Your personal credit is determined by the breakdown of these categories:

New Credit
Types of Credit
Length of Credit History
Amounts Owned
Payment History

Just as your personal credit history determines whether you qualify for a personal loan, it also affects whether you can get small business credit and loans. The three main things lenders look for on your credit report are:

Late payments
Missed payments
Bankruptcies

The Importance of Separating Personal & Small Business Credit

If you've ever used a credit card, opened a bank account, or financed a car, you have a personal credit file. Your personal credit information is intended to help you find the money you need to run your household. However, not every business has a business credit profile, which is one reason why some creditors seek to check the personal credit information of a small business owner. But if you want to limit your personal liability while running your company, it's best to establish your small business credit separately and use it only to run your business. Using your personal credit to get money for your business may cause some problems. You may seem overextended. Because businesses require more cash to operate than personals do, your personal credit will not be portrayed accurately if you are using it to run your business.

Small Business Credit and a Bad Credit History

Typically, banks won't consider conventional loans or SBA guaranteed loans to applicants with a bankruptcy in the past three years. That doesn't necessarily mean you shouldn't try. The Tax Club is here to walk you through the process in determining the best course of action for building strong business credit whether you have good credit or bad credit.

Take the guesswork out of small business credit with help from The Tax Club. Position yourself for the small business financing you need and contact The Tax Club. to learn more about the My Business Credit Builder program.

The Tax Club is located on the 60th floor of the Empire State Building in New York City, America's financial capital. We look forward to our clients advancing in their business and personal goals, and The Tax Club is committed to providing excellent customer service so all of our clients' business and tax needs are fulfilled. Unlike other tax preparation firms, The Tax Club promotes constant dialogue between the client and their Personal Tax Advisor, without the hefty price tag. For a minimum monthly payment, our clients prosper from a better awareness and an unmatched education. Being able go online at any time for easy access to a bounty of tailored information or to pick up the phone and speak with a Personal Tax Advisor is a commodity we feel is essential to our clients' success.

testimonials

"I received immediate replies to my email questions. This is excellent service!"
- Rosa & Nathaniel R.

"I have had exemplary service through The Tax Club. Your CPA Mr. Maringanti has been extremely helpful and very reliable returning my calls and effectively taking care of and resolving issues from the IRA. I have been very pleased with your services. Your staff is courteous and efficient. I am especially happy that I could call and get expert advice any time and how they are easily accessible. I have tried many firms and yours have been the best so far in all the tax services. It is like having a personal consultant all the time by your side. Thank you for the service."
- Latha V.

"I just want to thank Adnan from the bottom of my heart for all his patience and concern while doing my 2008 taxes. I had so much information to deal with because I wear some many "hats" in my businesses. I was very pleased with the tax club. This is my first year to work with the tax club and, believe me, I was skeptical about the whole service. I was pleasantly surprised with my tax return. Adnan did the return in a timely manner and spent time asking me questions so that all the information was correct. I am looking forward to working with the tax club on this year's taxes and forming a great partnership for many years to come."
- Jennifer S.