Maximum Business Credit

Environmental Tax Incentives

As the "green" movement continues to get more traction, so do the programs available for helping people to become green. Hence, I did some digging around to see how Uncle Sam is participating. Here is what I found.

Federal

The Unitied States federal government is offering a $.60 / square foot tax incentivs to businesses who build or update buildings in 1 or more of the three following ways:

1. the building envelope
2. lighting
3. heating and cooling systems

In order to receive the maximum $1.80 / sqare foot benefit, the energy savings from these updates must aim to achive a %50 reduction in energy used for heating and cooling.

This tax incentive is available through 12/31/08.

 Additional Resources:

• IRS Notice 2006-52 (6/2/2006)
• ENERGY STAR Brochure for Commercial Tax Deductions
• Commercial Building Tax Deduction Coalition
• Department of Energy Web site on Tax Incentives
• Special Offers and Rebates from ENERGY STAR® Partners

State and Local Programs

Many state and local programs offer discounts, sales tax incentives, and even cash grants to businesses. For instance, here in Washington, Puget Sound Energy (PSE) offers grants to its customers who install efficiency upgrades to their existing equipment or facility. Grants often range from several hundred dollars to over a hundred thousand dollars, and typically pay for about 50% of a project’s cost; sometimes up to 70% of the installed cost. Common projects for energy efficiency grant incentives include:

• Lighting Retrofits  
   
• HVAC Systems & Controls (natural gas & electric)  
   
• Efficient water heating (domestic, heating, & process)  
   
• Adjustable Speed Drives  
   
• Compressed air system upgrades  
   
• Industrial process systems & equipment  
   
• Building commissioning  
   
• Adjustable Speed Drives

Here is a list of resouces available from state programs:

Resouces Courtesy of Business.gov

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Technorati Tags: federal grant, grant, green grant, green loan, green tax incentive, rebate, tax incentive

I found the following story on Digg, and it got me thinking about creating some tools and templates to help you start building your business credit. The finance tools listed in the article are worth checking into, and, I recommend subscribing to the MaximumBusinessCredit.com RSS Feed so you can get updates on the tools lists I create.

Story Found on

"It seems like banking and financial services are either designed for individuals or giant corporations, with very few options for those small business owners in between. Thankfully there are a few good new and old tools and tricks that work especially for the small business owner. I rely pretty heavily on these 10."

read more | digg story

Popularity: 60% [?]

Technorati Tags: business credit, small business, small business finance

SBA loans provide your small business with a way to obtain fiancing even when your collateral doesn’t meet conventioan lending standards.

Benefits Of SBA Loans

Flexible terms

• Option for interest only periods
• Lines of credit with seven year commitments – non-SBA lines typically are one year
• No balloon payments necessary
• Limited pre-payment penalties

Minimal costs

• Minimal loan packaging and SBA guaranteed fees
• No points or origination fees
• Interest rate caps based on deal size

Keeps cash in your business

• Low monthly payments and flexible terms – as long as seven years for working capital, 10 to 15 years for equipment, and up to 25 years for real estate
• Low down payment required
• Allows for up to 90% financing for new purchases and offers solutions for financing soft assets such as goodwill
• Ability to finance closing costs versus paying them out of pocket

Since SBA loans are a quick and sometimes intelligent way to leverage business credit, I constantly keep updated on rates and news regarding SBA loans.

Here Are Some Useful Articles on SBA Loans

SBA Basics: 504 Loans

When a conventional loan is not possible, a 504 loan may be the answer. The SBA 504 Loan Program gives small business owners the following advantages: generally a lower down payment; below- market, fixed rate financing, which avoids the …

Todays Sba Loan Tip: Sba Loan Requirements Vary By Lender

Today’s SBA Loan Tip comes from Andy Dobrov at Premier Business Opportunities:"Everyone in my circles talks about the fact that equity lines have dried up recently and that SBA loans are far more difficult to get than they were just six …

Todays SBA Loan Tip: Not All SBA Lenders Play By The Same Rules

"Everyone in my circles talks about the fact that equity lines have dried up recently and that SBA loans are far more difficult to get than they were just six months ago. In spite of the gloomy anecdotes, I just completed a Quiznos …

Seven SBA Loan Myths

But the confusion surrounding SBA loans may perplex or frustrate even the most astute entrepreneur. Conflicting information from your trusted advisors or the internet may not help to bring you closer to separating fact from fiction. …

Patriot Express – SBA Loan Program for Veterans

The SBA introduced the Patriot Express Pilot Loan Initiative in June 2007, modeling the program after its Express Program started in 2002. This federal program turns military veterans into entrepreneurs, recognizing their …

Procuring a Small Business Loan through the SBA

The SBA guarantee loan program works much in the same way as a student loan guarantee. The loan is actually procured through a commercial lending facility. However, the SBA helps by offering their guarantee to the lender. …

Fed – Tighter Standards for Small Business Loans

Need help finding the right lender or telling your story the right way? Read "Matchmaking for Business Loans" and give me a call! Tags : Federal Reserve , small business , business loans , factoring , asset based loans , SBA.

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Technorati Tags: business credit, business loan, sba loan, SBA Loans, small bussiness administration loan

I found this article written by Mike over at mybusinesscreditblog.com

Getting an 80 paydex score (a perfect business credit rating) is getting harder and harder but this is actually the first key to building business credit. Clients have been emailing and calling me constantly to figure out how they can get an 80 paydex score in a shorter time and we have been compiling some information on the quickest way to get the 80 paydex and this is what we have come up with.

The best resource on the page are the 4 links to companies which are known to report to Dunn and Bradstreet quickly, and offer Net30 terms.

The following table contains D&B’s description for each of the PAYDEX score levels. As you can see, 80 means prompt, which is good enough to get just about any line of credit or credit card you would need for your business.

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Technorati Tags: business credit, dunn and bradstreet, paydex

The first step in establishing your business credit is getting DUNS number from Dun & Bradstreet. Unfortunately, if you try to do this yourself, when you call D&B they will try and charge almost $600 to get it.

The good news is there is a way to get your DUNS number absolutely free:

It’s so simple, you’re not going to believe it:

Call 866-705-5711 and state you are applying for federal grants/contracts and you need a duns number. They will give it to you on the spot with no solicitations.

Before you call, go to FedBizOps.Gov , and click on the opporunities button boxed in red in the picture below. On that page, find an opportunity that matches your business and write down the code (solicitation number) that is just below the link. If Dun & Bradstreet asks, give them the opportunity name and solicitation number.

Click Here For Rull Size Image

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Technorati Tags: dun & bradstreet number, dun and bradstreet, dun and bradstreet number, DUNS, duns number

This 60 minute video explores some very unconventional yet amazingly effective strategies for creating a corporation, establishing business credit, and making the funds you need to succeed available to you. After watching the video, please take some time to post your comments and questions.

Popularity: 20% [?]

Technorati Tags: business credit, establish business credit, getting business credit

This video does a really good job of explaining the difference between personal credit vs. business credit.

The most important fact is that carrying a balance on your personal credit card above 40% of your maximum immediately lowers your credit score.

With business credit, the only thing that matters is payment history.

Popularity: 13% [?]

Technorati Tags: business credit, personal credit

This 4 part video series comes from Tom Kish from WhoHasMyCash.Biz

While I do not promote his system, the he does cover some great information on protecting your personal credit, most interestingly, by using business credit.

Part 1 – Personal Credit
Understanding the factors that constitute your <tag-tec>FICO</tag-tec> <tag-tec>credit score</tag-tec> will help you to understand how to build and protect personal and business credit. Also, having average (620 – 690) or better personal credit will make establishing and building you business credit much easier.

Part 2 – Establishing A Business Entity
Tom covers creating a business entity, this means an LLC, LLP, C-CORP, S-CORP, or other non-sole proprietorship. He explains why you want to have a business and file tax returns for that business. You’ll also learn what the physical requirements are for creating your new business, including having an address that is NOT a P.O. Box.

http://www.youtube.com/watch?v=ADRhLC2r1kw

Part 4 – Applying For Credit

Popularity: 19% [?]

Technorati Tags: business credit, business entity, protection

Dustin Mathews is one of the foremost experts on establishing business credit very quickly; creating $93,000 worth of business credit in 90 days!

This is an excellent interview that dispells the myth that you need 24 months to establish your business credit and get the money that you need.

Filled with valuable tips and tricks, I highly recommend watching the entire video. When you’re done, please leave your questions and comments!

-Steve

Popularity: 33% [?]

Technorati Tags: business credit, credit video, dustin mathews, establish business credit