Step 6.1 Advanced Building: Tier 3 | Lyfe Funding DIY

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BUSINESS CREDIT & FUNDING PLATFORM

STEP 6.1 – ADVANCED BUILDING: TIER 3

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 3 of trade accounts further builds your business credit reports. Another 3 trade accounts reporting brings you to a total of 9.

WELCOME TO TIER 3! YOUR GOAL IS TO GET AT LEAST 9 TRADE ACCOUNTS REPORTING ON YOUR BUSINESS REPORT TO MOVE PAST TIER 3. PLEASE SCROLL TO APPLY FOR TRADE ACCOUNTS AND DON’T PROCEED TO THE NEXT STEP UNTIL THE TRADE ACCOUNTS ARE REPORTING.

APPLY FOR 3 TRADE ACCOUNTS

You currently have at least 6 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.

To ensure that your vendor’s report your payments, make a purchase of $50 or more. Need help? Call our Advisor Team for details.

On average it takes 30-90 days for your trade accounts to report and to complete this step.

REPORTS TO:

Experian

TERMS: Full balance payment or Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

D&B, Experian and Equifax

TERMS: Net 7

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, Equifax and CreditSafe

TERMS: Net 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B and Equifax

TERMS: Net 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Revolving

PG / NO PG:

Personal Guarantee Required

REPORTS TO:

Equifax and Credit Safe

TERMS: Net 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B

TERMS: Net 5, 7, 10 or 15

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 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, Experian and Equifax

TERMS: Net 7, 10, 15 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 Equifax

TERMS: 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:

Experian and Equifax

TERMS: Monthly billing or Installment

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

Equifax

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: 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, 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 and Experian

TERMS: Net 15

PG / NO PG:

Personal Guarantee Required

________________________________

________________________________

REPORTS TO:

D&B

TERMS: Net 10, 25 or 30

PG / NO PG:

No Personal Guarantee Required

REPORTS TO:

D&B and Experian

TERMS: Net 15

PG / NO PG:

Personal Guarantee Required

step6-1

complete step 6

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