When you think about getting financing for your business, what’s the first thing that comes to mind?

Back in the day, you’d probably answer, “Taking out a loan.”

Nowadays, you’re more likely to respond with “venture capital.” Pitching to VCs in particular seems to dominate the conversation. So much so that most people who participate in the discussion have forgotten something very important:

Just how are you supposed to get funding if you’re not an early stage startup?!

There’s a vocal community of entrepreneurs who preach bootstrapping and crowdfunding as alternative means of getting financed…

…but nobody seems to remember that good old business credit is still an option!

Not only that – it actually holds quite a few advantages compared to other funding options:

  • You can get different types of financing, like loans and lines of credit.
  • Any kind of business-related activity can be eligible for credit.
  • Unlike with venture capital, you don’t give up your business equity.
  • You don’t have to be a groundbreaking startup.

Even if your company is tiny; even if it’s just six months old; and even if you don’t have the perfect personal credit score – you can still make use of business credit.

And in today’s episode of the Get Genius podcast, we’re going to help you answer two questions:

  1. Should you go for it?
  2. And if yes, how can you get the best terms?

To help us do that, we’ve invited Ty Crandall on the show. He is the Genius of business credit, and we’re extremely lucky to have him!

Here are just some of the awesome things you should know about Ty:

He is an internationally known speaker, author, and business credit expert, with over 17 years of financial experience. Ty is the authority in business credit building, scoring, and financing.

Ty is also the author of two bestselling books on consumer and business credit: “Perfect Credit”

and “Business Credit Decoded.” He has written hundreds of published articles on the subject, and appeared on countless news shows, radio and TV programs across the country. Thanks to his expertise, Ty has also been featured in Forbes, Entrepreneur, and Inc. Magazine.

Ty currently serves as the CEO at Credit Suite. With Credit Suite, he consults with and advises

companies on business credit building and scoring. He has overseen the business credit

building for thousands of clients and has helped create and grow the most credible business

coaching operation in the United States. Ty has also created the largest business

credit provider network in the world – and he continues to coach them.

Ty is an avid pilot and sailor, spending much of his free time in the skies and water around

Tampa. His favorite pastime is spending time with his family and playing with his two kids Cash

and Chanel.

In this episode, Summer and Ty will discuss:

  • How business credit can help you grow your company faster, take more calculated risks with bigger payoffs, and bounce back from disaster.
  • The difference between consumer and commercial credit (and what it means for your business).
  • The best ways to monitor your credit reports.
  • How to get financed even if your personal credit score is damaged.

And more. Enjoy the show, and don’t forget to check out Credit Suite’s monitoring tool in the show notes!

Click here for full transcription

Here’s what you will learn:

[00:15] Introducing Ty

[04:22] Ty’s background and how he transitioned into business credit

[08:55] Some little-known tips about credit reporting from Ty

[10:25] Ty’s step-by-step process for applying for business credit

[14:13] Maintaining a commercial credit – and how it’s different from consumer credit

[16:34] How to monitor your credit reports

[17:56] What Ty’s website can offer you and what you can expect as a client

[20:23] How Ty helps even 6-month-old companies get financed successfully

[28:06] Ty’s advice for those who have damaged personal credit

[33:40] Where you can get free information about business credit


Resources from Ty:

Credit Monitoring