Tier 7 Checklist

What’s going on guys, welcome to this particular module, the tier 7 account blueprint. So at this point you already know what it takes to get to tier 7 account. So I’m going to outline just three, but I want to make it clear that tier seven accounts are going to be those accounts that are going to be, you’ll be able to use this cash or be able to leverage. So if you’re new business, then also going to break down a tier seven vendor lists and what to do if you’re not new in business. So if you’re new in business and you feel like you don’t have the financial strength right now, just continue to build up your corporate credit file with the additional net term accounts and revolving credit cards that have already broke down in the previous tiers. Okay? If you’re in a pinch for a large amount of financing quickly, then I recommend you use your personal credit and do something even better.

You go out and you go sell something. Okay. You go out and go close somebody. Right? So there’s and that’s where the high income skill based comes in. So if that’s, what if you really need to cash, right? Because again, you should be producing cashflow. All right. Now, have you been in business from less than a year, but have some revenue coming in each month, then you also want to look at other types of hybrid lending. Now, in my opinion, I don’t recommend you do any of these cash advantage things or merchant advances or revenue funding. It’s just not worth it. Now, one thing you can do, and this is why I recommended Stripe earlier in this particular program is Stripe has funding based off your merchant transactions. Two years ago, back in 2019, I was able to get a twenty-five thousand dollar loan from Stripe.

They advanced me the money upfront and they just took a small percentage. I think it was like 2% or two or 3% of every sale for about 15 months or whatever the case was until I paid it off. So that’s a solid option. So really what I’m saying is go make some money. Okay. Do get some cashflow coming in. And then if you’re already at your particular bank, go and apply for those banks. If you applied with chase, if you opened up a Chase bank account, you can open up. You can reach out at that point, if you have good personal credit, which is by recommendation, you can go and get a Chase, not a Chase freedom, but the chase ink cards, those cards are awesome. All right. So I’ll recommend going through your personal banker and getting one of those banking cards there.

Okay. So Dell, this is a strong one. That’s going to report to Dun and Bradstreet only definitely gonna be tier seven credit here. American Express is I have a love, hate relationship with American Express. It says net 30, but it’s basically a charge card. Alright. So once you get into an American Express family, you’re in their family. So their business gold card is a really, really solid one. I would not recommend doing the platinum. I would at the very least do the business gold card or the Lowe’s card. Those are two either the business gold card or any of their plum cards are really solid one but any of those cards, because you should have good personal credit and the credibility as a business. Alright? So this is a solid, solid option, but you to understand these are revolving accounts, American Express is one of those like net net accounts. It’s like a glorified net account, really with American Express. And they’re really, really stingy with their money and they want their money paid in full. They will hound you, but American Express is a solid option, especially if you have at least I would say a 700 in a personal credit score, maybe even a 680 with a few missed payments, but no collections at all, no collections it’s even better to already have an American Express account on the personal side and then transitioned to the business side. And the hack that you could do is become an authorized user of somebody else’s American express account. Make those payments on time for a few months, then apply with your own. Alright, and then Ford, believe it or not Ford reports at Dun and Bradstreet and a half commercial financing applications, and it’s going to vary based off your vehicle fleet card or leasing line. So if you’re looking to get a company car, this could be a solid option as well. Ford and Lincoln are together. Lincoln has some really nice vehicle options as well, but you can apply for financing through Ford. And this could be another option, but these are the options that I’m going to have in a vendor tradeline list. Outside of that, you want to be going to your particular bank and figuring out which one of your bank, which bank is going to offer you that solid financing. Alright, so that’s it. That’s going to wrap up this particular module and I’ll see you in the next one.