Hey guys, my name is Mike Berrien, and I’m the founder of TrueBuild. First off, I want to thank you for visiting our website. I’m excited to share with you what the TrueBuild program is all about and why it’s the largest business credit-building program in the country. We’ve been in this business for 23 years, and our five-step, seven-layer process, which we pioneered decades ago, has helped over 100,000 companies successfully build their business credit.
So, how do you get money for your business? There are three main avenues:
- Revenue
- Personal Credit
- Business Credit
If you have all three, you’re in a prime position to secure substantial funding. We’re talking about SBA loans for half a million dollars or credit lines from your bank worth hundreds of thousands, often with automatic approval. But let’s be honest, not all of us are in that situation.
That’s why it’s essential to be proactive about improving your financial standing. If you’ve been in business for a while and have revenue, you might be tempted by revenue-based loans, specifically MCA loans. Here’s my advice—avoid them at all costs. These loans are predatory, and there are thousands of vultures out there trying to trap business owners with them. Instead, focus on proving your revenue through legitimate means like bank statements and tax returns to access better funding options.
Now, let’s talk about personal credit. Many startups fall into the trap of something called “credit card stacking,” which is another dangerous practice in the business funding industry. These companies target your good personal credit, promising 0% funding without disclosing that they’re simply filling out credit card applications—something you could do yourself in minutes. This practice can wreck your personal credit and leave you in a worse position than before.
So, what’s the smarter alternative? Business credit. Building business credit is crucial because it’s completely separate from your personal credit. By using your EIN and building credit on your corporation, you can secure significant funding without risking your personal credit. Whether you need trucks, equipment, or high-limit credit cards for operational expenses, you can get it all through your business credit.
If you can align all three—business credit, personal credit, and revenue—you’re setting yourself up for success. This combination opens up massive funding opportunities, even with bad personal credit. But if you can combine excellent personal credit with strong business credit and steady revenue, the sky’s the limit. You’ll be able to secure substantial funding that can propel your business to new heights.
The key takeaway? Avoid the landmines that could derail your progress. Focus on building your business credit, grow your business smartly, and take advice from people who know what they’re doing. I’m here to help guide you on that journey. Thanks for your time.
