- What is Corporate Credit?
- How much credit can I obtain?
- What types of credit can I get?
- Are there any restrictions on how I can use the credit?
- What kind of interest rates do I have to pay?
- Do I have to put up any property, collateral or company stock?
- What does it take to qualify?
- Do you require a personal guarantee or personal liability?
- How long does it take to get setup?
- How much does it cost?
- Do I have to give up a portion of my company?
- How much does it take to get started?
- How do these two options differ in cost?
- What is the guarantee that I'll get my credit lines?
- What if I don't have a high enough credit score?
What is Corporate Credit?
Corporate Credit are lines of credit given by various financial institutions to business entities. There are several types of Corporate Credit which most companies can obtain. The most common forms of Corporate Credit are:
- Corporate Credit Cards (American Express, Advanta)
- Vendor Credit Cards (Best Buy for Business, Staples, Dell)
- Bank Lines of Credit (Bank of America, Wells Fargo)
- Subsidized or Collateralized Lines (SBA Loans, Mortgage Loans)
Corporate Credit is typically established by slowly growing your company’s credit score either on the Dunn and Bradstreet (DNB) index or through the Paydex credit bureau. Properly using, maintaining and repeatedly paying off your existing lines of credit will result in your financial institutions positively reporting to these independent bureaus. As your credit score grows, your credit worthiness increases and you can successively obtain larger lines of credit.
Reasons to use Corporate Credit Services, Inc.:
- CCSI is FAST. The typical funding cycle for CCSI clients is 3 – 6 months.
- CCSI requires ZERO COLLATEROL.
- CCSI application process is EASY and takes less than an hour to complete.
- CCSI has NO EQUITY STAKE in your business
- CCSI provides PROFESSIONAL LAWYERS and MBA FINANCE experts
- CCSI provides a ZERO RISK GUARANTEE
- CCSI provides a MANAGED SERVICE to increase your credit scores
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How much credit can I obtain?
The minimum amount of that CCSI offers in its lines of credit is $300,000. For clients requiring substantial lines of credit, we can provide multiple rounds of funding to a maximum of $5,000,000.
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What types of credit can I get?
CCSI works with approximately 65 different financial institutions and we offer a diverse portfolio of Corporate Credit options. Through the process of building your credit scores, CCSI opens multiple lines of credit. The initial lines of credit we offer are Corporate and Vendor Credit Cards. We select various credit companies that will provide the maximum credit line possible as well as properly report your progress to the Credit Bureaus. As your score grows, we can successively open larger credit lines through our extensive network of banks. The bulk of your overall Corporate Credit will be via Bank Lines of Credit.
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Are there any restrictions on how I can use the credit?
CCSI acts as both your underwriter and your account manager. Our ultimate goal is to provide our clients with generous lines of credit while protecting our network of banks from excessive losses. Once a credit line is established, our clients are free to use them for whatever purpose suits them as long as the client remains in good standing with our lenders. Over extending credit lines or failure to make timely payments will result in the credit lines being revoked.
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What kind of interest rates do I have to pay?
Every financial institution that CCSI contracts with offers competitive rates. Credit and Vendor Card interest rates vary the most. Many provide special offers such as 0% for six months or low interest balance transfer options. Our bank lines of credit are extremely competitive and average under 10%. Your interest rates will be fully disclosed as each line becomes available.
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Do I have to put up any property, collateral or company stock?
NO. Our program was specifically designed to offer Corporate Credit without requiring substantial collateral. We offer unsecured lines of credit from our strategic banking partners.
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What does it take to qualify?
The most important qualification requirement is to have an individual with a FICO score of 700+ to act as the CFO. This individual can be you, a relative or a close associate. The CFO must also maintain their FICO score in good standing during the funding process as their credit history will be utilized obtain the initial lines of credit. The CFO should not purchase any homes or cars during the funding stage.
In addition to the CFO, the only other major requirement is covering the start up costs of the program. The start up costs cover the initial legal fees to formalize the corporate structure.
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Do you require a personal guarantee or personal liability?
YES but only for the first 9 – 18 months. Once your established credit lines have matured with no late pays, over the limit, your personal liability can be transferred to your business where it belongs.
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How long does it take to get setup?
The average client obtains their requested credit lines within 3 – 6 months. Established corporations take less time than start up companies. Larger credit lines usually take longer but can be expedited by providing audited financials.
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How much does it cost?
Our standard fee is 10% of the amount of credit lines CCSI opens. These fees are used to cover our legal, underwriting and ongoing account management services. Additionally, a portion of these fees are used to protect our network of financial institutions from loses. Our financial institutions consistently provide larger limits because we proactively manage our clients to prevent excessive losses.
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Do I have to give up a portion of my company?
NO. Unlike the Venture Capital process, CCSI does not require any ownership in your company. Corporate Credit is simply debt financing for your own company.
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How much does it take to get started?
We offer two options to our clientele:
Option A: $12,500 payable upon underwriting approval with 10% standard fee
Option B: $2,500 payable upon underwriting approval with 12% standard fee
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How do these two options differ in cost?
Our typical client is provided $300,000 in lines of credit. Depending upon which of the two options they select the costs vary significantly. As an example a $300,000 Corporate Credit line would be paid as follows:
Option A - $12,500 paid in + $17,500 drawn from lines of credit. Total $30,000
Option B - $2,500 paid in + $33,500 drawn from lines of credit. Total $36,000
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What is the guarantee that I’ll get my credit lines?
CCSI offers each client our ZERO RISK GUARANTEE. If CCSI cannot fulfill its obligation to meet the requested amount of Corporate Credit, all paid in Setup Fees will be refunded. This is our 100% performance guarantee.
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What if I don't have a high enough credit score?
CCSI's partner, Academy Credit, provides credit repair services. Click the banner below to find out more.
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