earning your cred: understand & leverage business credit
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Kabbage Kam Webinars#KabbageKam
Earning Your Cred:Understand & Leverage Business Credit
Featuring Speakers From:
•Basics of business credit•Why business credit is important•Business credit vs. personal
credit•Establish & grow business credit•What can improve a credit
score?
Meet the speakers…
Andres ThomasCustomer SuccessKabbage, Inc.
• MODERATOR• Case studies from business
owners who have leveraged business credit
Brian WardSenior DirectorBusiness Information ServicesExperian
•Business credit and loans•Kabbage credit: data vs. biz credit
Spencer RobinsonHead of Data OperationsKabbage, Inc.
Understanding Credit Reporting• Your credit bureau report is at the heart of building business credit• Credit data is collected from a wide range of sources
Primary Factors of Your Score
Score factors include, but are not limited to: • Derogatory public records: collections, liens, judgments and bankruptcies
• The status, recency, frequency and dollar amounts of any applicable liens, judgments or bankruptcies
• Trends in slow payment of obligations
• The number of business credit inquiries or applications that are generated by the business or owner
• The number of trade experiences, balances outstanding, payment habits, credit utilization and trends over time
• Years in business, line of business or SIC code, size of business and other demographic data
Just the Facts: Business Credit
You can view any business’s credit report
Your consumer score has no impact on your business score and vice versa
Personal scores are not the same scale as Business scores
Build Your Business Credit
• Act like a business– Establish accounts in your business name, not
your personal name
• Be visible – Ensure that your good behavior is reported
• Borrow then pay on time– Stay current to agreed upon terms
• Monitor your company’s profile– Check and correct outdated information– Be alerted of important changes in your
company’s name
Get Started Today1. Use the tips we provided2. Verify your business credit report at:
SmartBusinessReports.com
1. Use the tips we provided2. Verify your business credit report at:
SmartBusinessReports.com3. Learn how to improve your business
score:SmartBusinessReports.com/scoreplanner
Get Started Today
Business Credit for Loans
+ Are you a business?
+ Do you have any existing liabilities?
+ Do you have existing business relationships?
+ Will you try to pay back a loan?
+ Can your business support the payments?
+ How/where will the loan payments come from?
+ Etc.
What do lenders look for?
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Kabbage Data Enhances Traditional Data
• Verifies business entity
• Historic business relationships
• Payment history
• Focus on historic behaviors
• 360° view of business model
• Verifies business entity
• Focus on the current behaviors
Kabbage Data Business Credit Profile
The more services you link, the better we understand your business.This allows us to possibly increase your credit line.
Who is the Kabbage Customer?
Customer service is already amazing, the UI is
very impressive, and it’s an incredibly fast
service! Not sure what could improve at this
point!
“ Honestly you guys are a god send for small
businesses and, in my honest opinion, doing more
to kick start the economy than our government.
Thank you!
“”
+ 1-25 employees
+ Years in business > 1 year
+ Industry: All small business verticals
+ May or may not exist in traditional business credit databases
+ Varying needs for capital over a period of time
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Kevin Pereira: Wet Shave ClubShortly after starting his own business, Kevin Pereira found himself with a good problem to have: his company, Wet Shave Club, was growing too quickly.
“We were in a situation where we couldn’t keep up with the membership requests we had,” Kevin said. “We were getting more and more members, but we didn’t have the inventory to fill all of our requests. We needed working capital from somewhere.”
Cristina Garza: Accountingprose.com
Having access to a line of credit from Kabbage helped free up working capital and empowered Christina to be more proactive in her hiring.
“I was able to lean on Kabbage to hire four new employees and cover payroll. With more people, I could take on more clients, so I was able to see returns quickly.”
Annie Kamiya: Curtis Kamiya MusicLike many small business owners, Annie and Curtis Kamiya were working seven days a week for their small business. Their business was growing, and they were looking for a loan to bring on additional staff so they could focus on launching new online project.
“We knew we had something to offer, but we just needed a little breathing room to accomplish our goals,” Annie said. “It was important for us to have extra working capital so we could make sure that bringing on new staff was the right move, without needed extra income to cover the expenses.”
Kabbage Kam Webinars#KabbageKam
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