Step 5.1 Building Credit: Tier2 | Lyfe Funding DIY

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BUSINESS CREDIT & FUNDING PLATFORM

STEP 5.1 – BUILDING CREDIT: TIER 2

MAIN MENU

➡ STEP 1 – BUSINESS CREDIBILITY

• Step 1.1 Business Name
• Step 1.2 Business Address
• Step 1.3 Business Entity
• Step 1.4 EIN#
• Step 1.5 Business Phone # & 411
• Step 1.6 Business Email
• Step 1.7 Business Licence
• Step 1.8 Business Bank Account
• Step 1.9 Business Merchant Account
• Step 1.10 Wrap Up

➡ STEP 2 – ESTABLISH BUSINESS REPORT

• Step 2.1 Dun & Bradstreet
• Step 2.2 Experian Business
• Step 2.3 Equifax Business
• Step 2.4 Reporting- How to Fix Business Credit

➡ STEP 3 – START BUILDING: TIER 1

• Step 3.1 Start Building: Tier 1

➡ STEP 4 – BUSINESS REPORT MONITORING

• Step 4.1 Credit Monitoring
• Step 4.2 Monitor Dun & Bradstreet
• Step 4.3 Monitor Experian Business
• Step 4.4 Monitor Equifax Business
• Step 4.5 Request Lexis Nexis report
• Step 4.6 Request Chex Systems Report

➡ STEP 5- BUILDING CREDIT: TIER2

• Step 5.1 Building Credit: Tier2

➡ STEP 6 – ADVANCED BUILDING: TIER 3

• Step 6.1 Advanced Building: Tier 3

➡ STEP 7 – REVOLVING ACCOUNT: TIER 4

• Step 7.1 Revolving Account: Tier 4

OVERVIEW

Tier 2 of trade accounts further builds your business credit reports. Another 3 trade accounts reporting brings your total to 6.

WELCOME TO TIER 2! YOU NEED AT LEAST 6 TRADE ACCOUNTS REPORTING ON YOUR BUSINESS CREDIT REPORTS TO MOVE TO TIER 3. PLEASE SCROLL APPLY FOR TRADE ACCOUNTS AND DON’T PROCEED TO THE NEXT STEP UNTIL THE TRADE ACCOUNTS ARE REPORTING.

APPLY FOR 3 MORE TRADE ACCOUNTS

You currently have at least 3 trade accounts reporting, but now it is time to establish your business credit reports even further. Please select and apply for 3 more trade accounts.

Remember to use your correct business information when applying, as all information should match your business records perfectly.

When you make a purchase, do so on your net /credit terms. It is payments on net / credit terms that are reported.

It takes 30-90 days from the day you make your payment for your trade account to report on your business credit report.

If you have any questions, our advisor team is here to help.

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REPORTS TO:

D&B

TERMS: Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

Equifax

TERMS: Net 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

Equifax

TERMS: Net 30

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 15

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 15

PG / NO PG:

Personal Guarantee Required

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________________________________

REPORTS TO:

D&B

TERMS: Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B, Experian and Equifax (reports quarterly)

TERMS: Net 7, Net 14, or Net 20

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B, Experian and Equifax

TERMS: Net 15

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Net 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 15

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Net 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

Equifax

TERMS: Net 30, 45

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B, Experian and Equifax

TERMS: Net 30 or Revolving

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Net 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 30 or Revolving

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 15 or Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 30, 60 or Revolving

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 15

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 15

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 15 or Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B, Experian and Equifax

TERMS: Net 25, 26, 30, 60 or Revolving

PG / NO PG:

No Personal Guarantee Required

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REPORTS TO:

D&B, Experian and Equifax

TERMS: Net 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Net 30 or Financing

PG / NO PG:

No Personal Guarantee Required

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________________________________

REPORTS TO:

D&B

TERMS: Net 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 15, 20 or Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 15

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 15

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 15

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Net 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Net 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 15, or Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 7

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Revolving

PG / NO PG:

Personal Guarantee Required

step5-1

complete step 5

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