The TRUTH About Business Credit | Business Credit 101

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In this video, I will be breaking down the truth behind building business credit. When to apply for it, how to fund your business and things to look out for when it comes to applying for business credit and funding.
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#businesscredit #businesscredittips #businesscredit101 #businesscreditbuilding #businessfunding

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Опубликовано:

11 июл 2024

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Комментарии : 93

@iamDestinyAdams 11 месяцев назад

Let me know if y'all want more car rants 🤭

@mrslideinsideu2 11 месяцев назад

Yes more please. I love your channel

@sircool2746 11 месяцев назад

Yes, very insightful . And you’re fine

@PD-fe7dz 10 месяцев назад

You can't flip a negative and a negative to make a positive because this is not math😅😅😅

@djtappromo 8 месяцев назад

@@PD-fe7dz People Out here doing it everyday though.. Use bank funds to do business not your own money that u working for.. 🤦🏽‍♂️

@LaToyaAJones212 7 месяцев назад

Yes

@MishaLives 11 месяцев назад

Finally a realistic and honest person...

@iamDestinyAdams 11 месяцев назад

💯🤗

@babifacedlilthug 8 месяцев назад

Best video around! Wish I would’ve seen it when I first started.

@zionrose007 11 месяцев назад

Lil sis you are a God send. I was in a real estate workshop this morning with someone talking about business credit, but I didn't have a good feeling about how it was explained Confirmation! Thank you!

@crystallight7578 9 месяцев назад

This was so much more than a car rant! I subscribed after watching this. I love how you get right to the point, and your information is broken down and relatable! Thank you!!

@shawnb.3080 8 месяцев назад

this is that real talk that I've been looking for

@londasmith7738 9 месяцев назад

This video makes a lot of sense. Thank you!

@TanoshaRenee 11 месяцев назад

Love your videos Des, Thanks for this video it’s motivating and reminded me I need to stop being scared and start my business 💕

@iamDestinyAdams 11 месяцев назад

Thank you!! Yesss! Start scared, start small and readjust as many times as you need.

@juliuslindsey5280 6 месяцев назад

Great information Queen. I personally appreciate it. I just rebranded my business an started checking out different avenues such as the building business credit as well as other ways to capitalize utilizing my business. Great job by the way in your success. Continued blessings always.

@rc-pi9ie 5 месяцев назад

Love it, just do the work and learn how to manage your funds. Too many trying to shortcut and fail.

@Kool_Rich 11 месяцев назад

Thank you D! This was so necessary! So many people selling hopes and dreams in mass! You were always legit!

@iamDestinyAdams 11 месяцев назад

Appreciate that!! 💯❤️

@kareembarnes6947 6 месяцев назад

Love this information

@cherishu 6 месяцев назад

Thank you! Great information ❤

@AVCDFGHIJKLMNOPQRSTW 9 месяцев назад

Thanks, this video was very helpful

@jamesflyworks385 3 месяца назад

thanks for this info. I am glad you posted this as it is true of all these "Guru's" don't tell you this. I am glad I found your channel!! my business has been open for 3 years now but I am changing its model and looking to build my business credit. thanks again

@workforceinterfacetechnolo9138 9 месяцев назад

Facts first, honest keeping it real person I’ve seen on RU-vid pertaining to business Without trying to get in your pockets with a bunch of BS that will catch up with you later.

@tenichigarner2351 9 месяцев назад

Very informative. You should definitely do more

@conjaharris 10 месяцев назад

I'm just seeing your RU-vid channel 😢 I'm so glad that I did. I live in the Zoo 🤫 Congratulations on all your success and my God continue to bless you 😊🙏

@nevisss 11 месяцев назад

love your channel so much! been using your ai prompts about to wathc the funding ones bc i just created my business plan

@iamDestinyAdams 11 месяцев назад

So glad to hear this!!

@bk_sovereign 4 месяца назад

Great advice.

@Jay-yt3zf 10 месяцев назад

What she’s saying is the logical and hard way but legit. I think this is the way to go for sure…!

@darrenrainey2294 11 месяцев назад

straight like that thanks for telling it ike it is....

@ItsyagirlHoneyy 11 месяцев назад

Yasss I love this 💕

@iamDestinyAdams 11 месяцев назад

Thank you!!

@kareembacon8058 9 месяцев назад

Nice vid sis

@LaToyaAJones212 7 месяцев назад

Thank God for you!

@user-dx7ky6qc4v 5 месяцев назад

Good stuff you can't make a negative into a negative.stop getting big money just to get it.

@iamgwendolyn3792 10 месяцев назад

I found out it was allll LIES so thanks for sharing the truth girl …I love you for being authentic

@user-mw2jj9bw5k 11 месяцев назад

Finally someone said it 👏🏾👏🏾

@iamDestinyAdams 11 месяцев назад

💯!!!

@PrecisionLogistics 2 месяца назад

Come on sis 👏🏾🙌🏾

@inettabell5807 4 месяца назад

I agree with this lady. Please clean up your personal credit before you make a business move.

@robertvillarreal7590 11 месяцев назад

Amen girl 👍🏼

@strongkush1268 10 месяцев назад

You’re awesome

@mfundishi13crystalsun82 11 месяцев назад

Eye love your accent ❤️

@devonross2348 27 дней назад

❤❤❤❤❤❤Dope 💯

@bimmerblak 11 месяцев назад

yum yum

@iamDestinyAdams 11 месяцев назад

❤️

@karenjohnson2577 10 месяцев назад

I'm just starting a custom gift basket business. I'm so glad I ran across your YT channel. Question- There is a wholesale store that sells gourmet food I can possibly include in baskets. To sign up with them, they request my EIN number. Is that safe? It is a company recommended by another gift basket maker. I thought the EIN was like your business social security number. I suppose they want to make sure I have a real business.

@babifacedlilthug 8 месяцев назад

Hi! Small biz owner here and yes. This sounds like a business-to-business (B2B) company who only does business with other businesses, hence the name. To verify that you are a legitimate company, they will ask for your EIN. I recommend you ask for theirs as well and get a contractual agreement in place. There are templates online for both. Your EIN is like your SSN, but it’s not as secretive as your SSN. Your business has its own identity.

@tooraw718 5 месяцев назад

🔥

@asassisoul7881 11 месяцев назад

Love your videos! How long would you say it honestly takes to have a profitable business using your own money? I own a boutique, just launched this past April.

@iamDestinyAdams 11 месяцев назад

Thank you so much! It's hard to answer, because it is truly different for everybody. For me, my business was profitable after 3 months, but I did start in 2015. Times and the economy are different now. On average, I've seen anywhere from 1-3 years.

@edubbs779 3 месяца назад

What if you get a credit card from a major bank or Amex without doing the net 30 and 60 accounts. Do you still have to do the net 30 and 60 accounts?

@user-zs4ki9zm5w 11 месяцев назад

Thank you so much for this video. Gave me clarity. The streets will have you bankrupt.

@asassisoul7881 11 месяцев назад

I’m first 😝

@iamDestinyAdams 11 месяцев назад

Yesss you sure are! Thanks for the support ❤️

@pauldeleonfilm 7 месяцев назад

Thanks. I been invited to apply for business credit card. I don’t just want to buy office supplies I don’t need. Should I get one?

@shamoney8141 9 месяцев назад

Well the day you start business in the day you get incorporated is two different things you can have a business for multiple years before but you got incorporated this year so when they ask you how long you’ve been in business you just say three years ago

@Philomath9ether 11 месяцев назад

🎯

@iamDestinyAdams 11 месяцев назад

💯📍

@C2it69 11 месяцев назад

GAME…!!!! 😊

@iamDestinyAdams 11 месяцев назад

💯!!

@mfundishi13crystalsun82 11 месяцев назад

❤️

@guttagutta1981 4 месяца назад

Just tell them everyone can't be entrepreneurs takes discipline and drive and a good plan

@ritatruckinpreneur2912 3 месяца назад

I follow Robert Kiyosaki, author of Rich Dad Poor Dad. I took his advice and made my first hire in the business a Qualified Bookkeeper. The right bookkeeper can help you make sound financial decisions on spending, lending, and growing.

@Triplenet_Agent 3 месяца назад

Bootstrapping your business isn't normal . It's dome because of not having resources. Business credit been around because Credit Duite alone and a few others been around since before 2015 and back then shelf corporations were really a big thing and that's also when you could get it without using your personal credit. This all was before 9/11. After 9/11 is when they started making someone of the business using their social security number. Now all else I agree with.

@KingPryme21 11 месяцев назад

i think you mis understood what a lot of what these people are saying. If you just started a business you have to personal gurantee to get business credit.. and they say you get six figures from multiple banks, not just one. The only way youd get that much is on a commercial line of credit which takes years. From what i see they are telling people to clean up there personal credit that build an llc for 90 days and PG to get 10-20k in funding from 1 bank/credit union. Then you rinse and repeat to get 6 figures.

@iamDestinyAdams 11 месяцев назад

I get that. All I’m saying is don’t take credit if you don’t have a business that’s generating income.

@KingPryme21 11 месяцев назад

@@iamDestinyAdams we can agree to disagree but I see your point… 💪🏾

@daonetru 11 месяцев назад

@@iamDestinyAdamsdo not use credit that you’ve PG unless you have a business that’s generating income

@babifacedlilthug 8 месяцев назад

Right. But the gurus aren’t talking about the need to have your personal credit right and you won’t get funding if you haven’t been incorporated long enough and if your business isn’t generating income. It’s not as easy as they make it seem. That’s all she’s saying. I speak from experience. She’s actually speaking FACCCTSSS. You have to have proof of concept for your business model first. Just like she said, you have to prove you can flip other people’s money by proving you can flip your own money FIRST.

@hergv6649 8 месяцев назад

Is it really lying if that’s the projected revenue equating to %20 or more in profitable gains ?

@10-illmatic 11 месяцев назад

Getting money after you're already in business isn't a start up. Smh.... Brand new LLC and need money to START UP the business is the Start Up I need.

@iamDestinyAdams 11 месяцев назад

You can still make money in the beginning while being a start up. The term startup refers to a company in the first stages of operations.

@iamDestinyAdams 11 месяцев назад

Ideally I just want more to test the business idea before going into debt.

@babifacedlilthug 8 месяцев назад

Yes, it is. Most businesses are in start-up operations for 2-3 years. Speaking from experience.

@brewinsimsx8226 11 месяцев назад

What's invoices? How you use invoices and when do you use it? I'm very confused about them

@iamDestinyAdams 11 месяцев назад

Invoice is just another word for bill. For example, if I wanted to book you for a service, you can send me an invoice that details what I’m paying for.

@brewinsimsx8226 11 месяцев назад

@@iamDestinyAdams ok so someone bought something off my store. So I do not make an invoice for them?

@iamDestinyAdams 11 месяцев назад

@@brewinsimsx8226 Nope you don't. You'll only invoice if they wanted something thats not normally on your website.

@brewinsimsx8226 11 месяцев назад

@@iamDestinyAdams ohhhhh I'm so dumb thank you so much miss Adams I'm starting hair products business for Afro textured hair and beards next month on my birthday and I'm hoping my ready but I'm excited

@babifacedlilthug 8 месяцев назад

@@brewinsimsx8226you’d make them a receipt or a PAID invoice. 😊 an invoice is a document that shows products and services the customer hasn’t paid yet.

@THELAWOFOVO 10 месяцев назад

I hate to be a Debbie downer but this was so basic. No financial secrets. I did. agree with a lot what you said. But a lot of it was basic.

@Th33Vultur3 11 месяцев назад

I would rather put $1,000 for annual business revenue and estimated monthly spend I put $0 and got approved for $2000 each on the Blue Business Plus and Blue Business Cash and the same on the Amazon Prime Amex and got approved for Amazon Prime Business card. As a sole prop and I put less than a year and other as the type if I want to do something like do RU-vid videos on the side besides my regular W2 job.

@jorgemarquez7911 11 месяцев назад

Did you have great personal credit? Personal guarantee? I'm try to start a business but need funding. Right now i do deliveries and make about 8,000 monthly as an independent contractor