EP275: Master Business Credit: Fund Your Growth Without Personal Guarantees with Murray Beaulieu

PROFIT With A Plan

Master Business Credit: Fund Your Growth Without Personal Guarantees

Many business owners struggle to secure funding without risking their personal assets. Relying on personal guarantees leaves them vulnerable, and it can feel impossible to get the credit they need to grow.

Imagine trying to scale your business while constantly worried that one misstep could put your personal finances—and even your home—on the line. It doesn’t have to be this way. Most entrepreneurs aren’t aware of the hidden strategies that the big corporations use to access credit without the personal risk.

In this episode of Profit with a Plan, business credit expert Murray Beaulieu reveals how you can build strong business credit, avoid personal guarantees, and tap into new opportunities for funding. Learn the insider tips to protect your assets, manage cash flow, and set your business up for long-term financial success.

Key Takeaways:

1. Boosting Your Business Credit

   • Timestamp [00:00:07]: Marcia introduces the topic of how to build business credit without risking personal assets.
   • Murray emphasizes that most businesses under $100 million lack the resources to leverage business credit properly.

2. Using Business Credit Without a Personal Guarantee

   • Timestamp [00:13:05]: Discover why it's essential to avoid personal guarantees and keep your business liability separate.
   • Murray shares how to build credit under your EIN, reducing personal risk and protecting personal assets.

3. Transferring Business Credit When Selling Your Company

   • Timestamp [00:16:36]: Marcia and Murray discuss how building a strong business credit profile can increase your company’s value when selling. Learn how to transfer business credit with the sale, making your exit strategy smoother.

4. Floating Accounts Payable & Receivable

   • Timestamp [00:21:11]: Murray touches on managing cash flow with business credit, using lines of credit, and loans against accounts receivable or inventory to maintain flexibility.

Other Highlights:

• The Difference Between Personal and Business Credit

  • Timestamp [00:09:00]: Business credit isn't automatic like personal credit. You must be intentional and proactive to build it.
  • The importance of consistency in business data (addresses, phone numbers, etc.) across all platforms to avoid credit rejection.

• The Power of Leveraging Business Credit

  • Timestamp [00:14:30]: Business credit opens doors to better terms, lower insurance premiums, and credibility in the marketplace. Murray shares how a small business used business credit to outbid a larger competitor for a government contract.

• Tips for Building Business Credit

  • Timestamp [00:25:01]: Murray shares actionable steps to ensure your business looks credible to credit bureaus, including maintaining consistent addresses and registering with business credit agencies like Dun & Bradstreet.

Actionable Advice:

• Transition personal expenses used for business (like phones, utilities, etc.) into your business name to start building credit.
• Regularly check your business credit report and ensure all information is up to date and consistent.
• Avoid using personal guarantees whenever possible by building credit through your EIN.

Call to Action:

Want to learn more about how to build your business credit? Connect with Murray Beaulieu on LinkedIn and get a free business credit report evaluation as a special offer for podcast listeners! Mention you heard about him on Profit with a Plan.

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This episode is sponsored by Infinite Profit ® —We don't just talk profit — we deliver it!

Is your business ready for explosive growth? Visit InfiniteProfitConsulting.com to learn how Marcia and her team can help you boost profits and set your business up for long-term success.

Grab Your Free Resource: Looking to supercharge your profits? Download Marcia’s Profit Booster Playbook at BoostingProfit.com to uncover three essential strategies to increase your bottom line today.

About Marcia Riner. She is a business growth strategist who helps business owners dramatically increase their revenue, profit, and the value of their company. In fact, she can show prospective clients a clear pathway to profit and an impactful ROI for working here before hiring her firm. Through her proven Profit Booster® strategies, she gets results. Marcia is the CEO of Infinite Profit® and more information can be found at https://www.InfiniteProfitConsulting.com

Got questions? Reach out to Marcia and her team at [phone] ♾️