Tom Kish System
Hello Board
I was wondering whether there is anyone out here that has used "successfully" the Tom Kish method of obtaining Business Credit he promotes for sale. I am considering purchasing this system because it supposedly shortens the learning curve and even suggests the types of businesses to utilize and the banks that supply the credit NO QUESTIONS ASKED!!!
Please respond to this post so I do not make a bad purchase.
Thanks and GOD bless
We recently purchased this system and acquired two lines of credit totaling $15,000 in the first month, following exactly what his system said to do. You do get a list of banks that are best, and it does shorten the learning curve. It is definitely a smart purchase. It is a great tool and you are able to increase the lines quickly by following his system. Good Luck!
I do not own his program but have read bad things about it. I would suggest vising the credit boards forum and searching for posts on him.
There is nothing new; the info is avl at many sites. Form a LLC, get a cc on the new company name; most popular are Capitol one, MBNA, Citi; just fillout the pre-approved apps you get in the mail. That will be $399 please!
You can start with secured loan at the beginning. Wells Fargo offer secured credit card. Advanta, office supplies, gas and department store credit card are relatively easy to get.
Obviously the people who keep saying you have to use your personal credit score have not read his information.You use your tax id number not your personal ss #. The info states REGARDLESS of your personal credit history not after you clean it up.Your business monies/assets should be completely seperate from your personal stuff.
Yes you can have lousy personal credit and get excellent business lines of credit -keyword, BUSINESS
It’s not as simple as just using a “business” tax ID number instead of your SS number.
If your business doesn’t have any credit history, you will have to personally guarantee any loans.
So, one way or another, you still need to build credit – either for yourself, or for your business. Or, both.
: )
Based on personal experience, you will need generally a year or so of guarantee the debts and after that you will fairly often not have to do Personal Guarantees. Some companies like Home Depot etc about 95% of the time want PG and so far all the accounts/lines that I have have requested my SS even though my companies all have Fed IDs.
The major think is that none of them appear on my personal credit.
there are money people out there that will lend you the money for a share of the profits.
Same with partnering w/ an investor