CREDIT TIPS

Business Credit Without Personal Guarantee Offers Many Advantages

Business credit without personal guarantee is the only way to get funding without risking your own personal credit or personal items. However, it can still provide you with the capital you need to start or look after an existing business.

There should be no other option in your mind when you are thinking about applying for a credit card or loans; it should always be an unsecured line of credit.

Some of the advantages of busness credit without personal guarantee include:

1. No Collateral Is Needed -- Secured lines of credit require something personal in order to be approved for a loan or card. The collateral is then used if you default on the loan or card.

The money amount your collateral is worth will be transferred over to the lender as payment. Credit without personal guarantee does not make you risk any of your personal things for your business.

2. Just As Easy To Apply For -- Business credit without personal guarantee is not any more difficult to apply for than secured business lines of credit. As a matter of fact many lenders now offer same day acceptance or denial procedures, meaning you will know if you have been accepted or denied by the end of the same business day you applied.

The easiest part about the application for business credit without personal guarantee is you will not have to provide your social security number for anything related to the business. It is not connected to your personal credit in any shape or form.

3. There Are Many Options Out There -- business credit without personal guarantee is not difficult to locate. Just about every lender has a business credit without personal guarantee option. There are even lenders out there that only offer unsecured credit to owners.

So do not think that you are going to have to spend hours and hours looking for a single place that offers credit without a guarantee. Your local lender should have some options for you to choose from.

4. Will Build The Same Amount Of Credit -- Some business owners think one type of credit builds more credit than a different kind. This is not true. An unsecured line will build the same amount of credit as a secured line. As long as you make the monthly payments and do not default on anything, your credit will be great!

So business credit without personal guarantee is the only way I would suggest you get business credit.

You do not need to risk your personal home and credit to get funding for your business.

There are other options out there. You can build a business. But keep the personal things you have worked so hard to get.