How to Get Business Credit Fast: Expert Tips for New Entrepreneurs | Episode 16 - The Real Estate UNLOCKED Podcast

Episode Transcript
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Joseph Marohn (00:12):
What up everyone and welcome back to the real
estate on live podcast.
I'm your host, Joseph Marohn,and today we're going to be
showing you guys how toinstantly increase your
purchasing power to create moreinvestment opportunities.
A smart way to leverage fundsfor your property renovations.
One of the best ways to enhancethe credibility and reputation

(00:36):
of your real estate business.
Today, we're going to be doinga step-by-step walkthrough on
how to build your businesscredit.
Be doing a step-by-stepwalkthrough on how to build your
business credit.
Business credit is a financialtool that allows businesses to
borrow money and access fundingbased on their own credit
profile.
Establishing strong businesscredit enables businesses to

(00:58):
secure funds, tap into largelines of credit and gain
favorable terms with suppliersand lenders.
It also helps provide a crucialsafety net for navigating
financial challenges.
Ultimately, business credit isa powerful tool that can help
unlock the full potential ofyour real estate ventures.

(01:20):
Now, if that sounds likesomething you're looking to
implement into your personalbusinesses, then stay tuned,
because we're going to provideyou with all the necessary tools
and information.
You need to get started with ittoday.
Now you know how we do it onthe Real Estate Unlocked podcast
.
If we're going to do it, we gotto do it right.

(01:42):
We can't just bring on anyoneto speak about business credit.
We got to bring on Mr BusinessCredit.
Today, our special guest on thepodcast is Terrence Spencer.
Terrence is not only a jack ofall trades, but a
multi-dimensional leader withover 20 years of experience.

(02:05):
Since 2020, terrence has beenlaser focused on all things real
estate, bringing in his passion, leadership and expertise into
the Sub2 community starting inFebruary of 2023.
Terrence is also the co-leaderof California's very own Orange

(02:25):
County Joint Ventures.
He has developed a passion forbuilding business credit with
access to unlimited funding andis now helping other business
owners do the same.
Terrence joins us today to helpeducate us all on how to start
building our own business creditprofiles so that we can propel

(02:48):
our businesses to new heightsand unleash a whole new world of
opportunities.
So, without further ado I'vebeen talking long enough,
everyone if you will, pleaseallow me to formally introduce
to you Terrence Spencer.
Terrence, what up, brother?
How are you doing today?

Terence Spencer (03:10):
I'm doing great , my brother.
Thank you for the intro.
Wow, I mean very humbling.
I appreciate you, man.

Hey, that's how we kicking things off over here,
man.
We got to do you right, man.
You know we appreciateeverything you bring into the
table today.
So thank you, man.
We got to do you right, man.
We appreciate everything youbring into the table today.
So thank you, man.
I know we've been talking aboutdoing this for some time here,
Terrence.
So glad we can finally get youon.
But you know what?
We're finally here, brother, solet's make it happen.

That's right.

Let's do it right as we should, right as we
should so well.
First off, t welcome to theReal Estate Unlocked podcast, a
place where we bring value tonew and intermediate investors
by bringing on guests who areextremely knowledgeable, as
yourself, to cover real estatetopics on a very basic entry
level.
Now, terrence, I know you'reextremely busy running multiple

(04:00):
businesses, bro, so weappreciate you for coming to
hang out with us today to talkabout such an important topic
that we should all understandhow to properly use so we can
scale our businesses and tapinto more opportunities.
So thank you.

Absolutely my man Anytime, I appreciate you
having me on man.
Thank you Very humbled again.

Thank you, absolutely, absolutely.
So we're going to talk aboutbusiness credit here today and
there's going to be a lot ofgems dropped on this episode,
but before we get there, Ialways like to kick things off
and put the spotlight on myguests.
First, terrence.
Walk us through your journey,bro.
What sparks your interest toget into real estate?
Like, what was it that drew youinto this industry?
Was it out of necessity?

(04:41):
Did you have a family member inthe business, or did you just
feel like you always had agreater purpose in life?

You know, let's take it back.
Actually we're going to gobefore the recession, so we're
talking 2000.
Yeah, man, we're talking 2005,2006 and fresh out of college,
2003 graduated came out and youknow it's funny because you did
say a jack of all trades in thebeginning.
And so, coming out of college,you know my degree, just like

(05:08):
probably a lot of people whodon't really have a direction
outside of maybe what theywanted to do out of college, I
got my degree in communicationsand so with communications there
is such a broad level ofdifferent things you can do and
I've always loved sales, alwaysbeen involved with marketing,
always been involved withmarketing, always been involved
with building relationships andconnecting with people, and so

(05:30):
it's interesting.
But I remember when this surgeof people going into the loan
industry, the mortgage industryand that was huge because back
then I was in the fitnessindustry I came out doing well
in the fitness industry and Iremember having guys come in
getting memberships and theywould just drop $900, $1,200,

(05:53):
you know $1,500 on memberships,you know just right up front,
like, and I would go hey, whatdo you do?
And I remember I had a numberof people say I'm in the
mortgage industry, I'm likemortgage industry I need to get
involved in the mortgageindustry.
I'm like mortgage industry, Ineed to get involved in the
mortgage industry.
So I took a look at themortgage industry and I said, oh
wow, this is just again, thisis just sales.
It was already what I was doing, and doing as well, in the
fitness industry, and I wentokay, let me take a look at this

(06:18):
.
So I was doing it part-time andit's interesting that doing
mortgages part-time, I wasmaking more doing mortgages
part-time than I was full-timein the business industry.
So I'm like, okay, I'm missingthe ball here, Let me get
involved full-time now with themortgage industry.
So I did.

He's like I'm on to something here, right.

Yeah, I'm on to something, man, and so I did.
I jumped into the mortgageindustry and, lo and behold, man
, yeah, it was a match made inheaven.
I ended up making a really high, six-figure income, you know,
really, really quickly, you know, in that industry.
And so, as the ball was rolling, I, of course, you know,
accumulated, you know, my magiccar, the house and all that good

(06:55):
stuff right.
And then what happened in 2008?

Recession.

Recession, you know, lose everything, just like
everybody else.
At that time, um, lost, youknow, my house lost, my cars
lost, everything, you know, um,and it was a really tough time,
yeah, super difficult, and so Ihad at that time.
So you know what?
I'm going to go ahead andembark on a different journey of
life, and so I did.
I ended up getting involved ina slew of different things that

(07:23):
I just felt like, wow, ok, I'm aniche here that I'm really good
at.
Niche is here I was really goodat, and all the while, I was
still involved in leadership, nomatter what area of life I was
involved in, you know.
And so I just decided to keepgoing at that trade until I even
got an education back in 2013.
And I ended up becoming I ranthrough education, you know was

(07:43):
an assistant, you an assistantin special needs, and also
became a teacher as well for afew years, and then I actually
made it to dean of students at aprivate school as well, and so
I became a dean of students.
And then guess what happens?
Again, covid hits.
So I just can't get away fromdisasters, right?
And so COVID hits and I sayI've always had a passion,

(08:06):
though.
Uh, for real estate.
Always inside of my heart, I'vealways loved real estate.
I used to be that kid thatwould play monopoly hours on end
.
You know, and um, you know meand my boys.
You know we'd have six hourmonopoly games.
You know seven hour monopolygame Coming out of Monopoly game
.

That's a good theory, man.

That's a good theory.
It's from fights broke outplaying Monopoly.
You know what I mean.
So it was great, man.
But when I learned that Monopolyis actually what Robert
Kiyosaki said in his book, hesaid, when you play Monopoly,
you're really just playing realestate in real life.
But they help you to is a game,but it's really real life.
And I thought that that wastrue, especially getting back

(08:45):
into real estate in 2020,because COVID had hit and it was
an opportunity, I think, for alot of people who may have been
maybe trapped into a career thatmaybe they wanted to expand out
of but didn't really know how.
But COVID really was sometimesan open door for a lot of people
who had bigger dreams.
And so that was really myavenue to really get back into
the real estate game.

(09:06):
And I did, and I started inwholesaling YouTube University,
you know, and YouTube Universityand getting into wholesaling at
that time in 2020.
And I actually, man, just Iblew it out of the park.
You know it was.
It was sales all over againthat really fired that passion
to me to get back into the realestate game.

(09:26):
You know, made some really goodlump sum checks in a very short
amount of time and I mean myfirst two checks were bigger
than my salary.
You know that I had as a Dean.
I mean it was.
It was incredible.
And so, getting back into thefold of that, I realized I need
to stay in real estate again.

(09:47):
So I did that, even became aleader in that industry as well.
I was with a company in NewportBeach where I helped establish
their acquisitions anddispositions departments and
really helped train theirspecialists there to help sell
real estate and get housesacquired and houses disposed.
And then, as you know, 2023came into sub two and it's been
game on since then, know, sincethen, and obviously have a great
team of people around me.

(10:07):
Big shout out to OCJV, orangeCounty, jv, my people Love you
guys.
They're amazing, amazing bunchof people, plus our leadership
there, great guys and gals, andso really appreciative of that.
And business credit has nowtaken the spotlight because it
really does lend towards growingyour real estate business.

(10:27):
And that's where we are heretoday and I found a gem and a
golden nugget in business creditwhich will unlock it really
takes that capacity to maximizeyour capital, maximize your
funds, to a whole nother level,and it's untapped.

(10:51):
You can do this as many times asyou want to, throughout the
life of you building businesscredit.

So love it, man.
Well, first off, big shout outto OCJV man.
Everybody in OCJV is awesomepeople.
What I love about your story isthat you faced all these
adversities, all thesechallenges going on, just like
everybody else that started inthat time.
I started in the game a littlebit later.
I didn't face those 2008challenges and even the COVID

(11:19):
challenges, but what I likedabout that is you went through
all these struggles, wentthrough all these adversities
and you didn't give up, man.
You just kept pushing forward.
You may have put it offtemporarily, you know, during
that time, but you came back toit because you felt you had a
calling.
And look at you, man.
Look at you now, bro, like youare excelling at a great pace
and I love watching you grow,bro.

(11:40):
So you know that's awesome man.
And look at you, man, now youplaying Monopoly in real life,
right, I appreciate it, man.

But I mean, Joe , I appreciate you, man, I
appreciate the dibs on that, bro.
Thank you, man.
But more importantly, I want tobring it to you as a spotlight
as well.
As you already know, I believein what you're doing, especially
with building your podcastright now.
Even when I first met you, Isaid this dude, he's got
something special, you know and.
I think everybody has somethingto them.

(12:10):
I think I heard this quote, butI'm not sure who it came from.
But everybody has MichaelJordan talent somewhere in some
area of their life, right, andso I think for you, you know
even your Michael Jordan sizetalent.
Man, even when I said I firstmet you, I'm like man.
Your personality is amazing.
Even the way you connect withpeople is amazing.
I mean the comfort level youhave being around people that

(12:31):
you don't know says a lot aboutyou as a person.
You know what I mean, and so Iwant to give you a big thumbs up
, a big dab, just for yourcharacter and who you are as a
person.
I've watched you grow so greatjob on what you're doing, bro.

Hey, I love that man.
That means the world to me.
I appreciate you, t.
Thank you a lot, man, but yeah,let's get back on.
So I know you talked a littlebit about diving into business
credit, but where did you firstlearn about business credit, and
what exactly was it thatintrigued you about this tool
that made you want to divedeeper?
Sure?

Now, interesting, it's actually a
gentleman who's actually in subtwo, which is amazing, right.
Big shout out, big shout out,and he's going to watch this at
some point.
So big shout out to my boy,mikey Carcamo.
Mikey is also in sub two, but Iactually ended up getting a big
wholesale deal and with those,of course, as you know, when you

(13:22):
get big wholesale deals, it'salso a way for you to either put
it into something else that youwant to grow, or to even use it
to pay off debt and reallybuild up your credit.
And I built up my personalcredit profile to a huge level.
I mean, I had my personalcredit was at about 780
something at that time when Istarted paying off you know just
different things just becauseof the money I had earned

(13:42):
through doing wholesaling, andso I had ended up applying, you
know, for a, for what you wouldcall a now, which is what I know
as a hybrid type of formatcredit card, you know using
Chase and you know usingCitizens Business Bank, and I
ended up talking to Mike and hesaid have you ever thought about
, like, building business credit?

(14:03):
I'm like I have no clue how todo that.
What is that?
Talk to me about it, right, andso, just like most people,
right, I'm like what is I don'teven understand business credit,
what is that?
And so I only understoodpersonal credit and how to build
up your personal credit.
So I think it was breaking downdifferent avenues, you know, of
business credit, helping me tosee the details of how it worked

(14:23):
.
I went, oh my gosh, this is big.
This will change the game, notjust for me but for other people
if they discover how thisreally works as well.
And that was, I think, aneye-opener for me that I said
I've got to attack this.
And it's funny because I talkedto Mike on the phone a couple
of days ago and he said talkedto Mike on the phone a couple of

(14:46):
days ago and he said, darren,sometimes you can be a little
compulsive.
And I said I sometimes can.
I said but when I see somethingthat I know that I can get out
the park, I will go after it andI will go after it with a
vengeance.
I mean I will go after it anddrive it home, just like real
estate.
And obviously, seeing this, I'mlike, okay, this is something I
can really build out and it canbecome a legacy for my family.

(15:07):
It can open up doors that I'venever seen before.
It can allow my real estatebusiness to take off to new
heights.
It can do so much that I'm notseeing right now, but I know, I
feel it and I know that it cango to that level if I put my
heart and my passion into it.
And that's what I'm doing rightnow with Business Friendly.

And that right, there is your superpower man.
So absolutely, man, you'reabsolutely doing the thing, bro.
So I think we can all agreethat most people understand what
personal credit is, but there'sa lot of people that start out
in their businesses or they getinto real estate and yet don't
realize they have access tosomething called business credit
.
So what happens?
They start using their owncapital, they're applying for
personal loans, reaching out toprivate money lenders, maybe

(15:52):
they borrow from a family memberor 401k.
But what if they understood howto start acquiring business
credit and how to properlyleverage it?
That could be the missing skillin their entire business
Terrence.
I know I talked a little bitabout it in the intro, but can

(16:12):
you give us a brief overview ofwhat business credit is and why
you feel it's important forevery real estate investor and
business owner to establish Sure?

So business credit, it is totally separate
than your personal credit.
Building business credit, itshould be at a place where you
develop it and build it enoughwhere it stands on its own
without you having to personalguarantee anything such as a
credit card, a line of credit ora loan, if you build up your
business credit to a point whereyou have enough trade lines.

(16:40):
Now, again, this is gettinginto some of the details.
So some of the details, butagain it's very simple.
When you talk about businesscredit, what you're really
talking about is being fundable,getting your business to a
place where it's fundable.
Fundability that's really thebasics of what I teach people is
how to be a fundable business.
And you say, well, how do you dothat?
Everything has to be cohesive.

(17:01):
We talk about the basics ofbeing cohesive your address,
meaning you have a businessaddress that you have not a
mailing address such as a UPSstore or USPS box office, but an
actual physical address thatyou can get that you you know
there's several of them Regents,you've got.
Alliance, you have, you know,northwest.

(17:21):
You can get an actual physicalbusiness address.
Email address, that's aprofessional email address, not
a Gmail or Hotmail or Yahoo.
Right?

A company address .

Yes, a company address, something that is
professional, so that when alender sees this, they're able
to go okay, that's a realcompany and this is not a
fictitious company.
This is a real company and thisis not a fictitious company.
This is a real company.
Okay, also, making sure thatyou have everything else lined
up as well, such as a NIACS code.
What is a?

NIACS.
I didn't know what the heck a.

NIACS code was your N-A-I-C-S code.
It is the industry in whichyou're involved and it comes
with an actual code.
It's how they recognize whatkind of business you have.
It's what a lender uses to seewhat industry are they involved
in.
You can actually go to NAICScomand you can look at what are
high risk codes and what are lowrisk codes and you want to be

(18:15):
able to pick one that alignswith your industry.
That is a low risk.
That way it expands yourfundability options and it
doesn't limit your fundabilityoptions.
And on top of that, it's reallyjust making sure that you're
setting up your normal thingsthat you would, even in real
estate your business bankaccount, very simple and even
when you set up your businessbank account, they're going to
ask you I'm not sure if manypeople know this, but your

(18:38):
banker asked you what industryare you in or what's your NAICS
code?
My banker asked me that and Ihad no clue.
When he said industry, I'm like, oh okay, industry, I'm in real
estate, but really it matters.
It matters when you open upyour business bank account to
make sure you actually have anestablished NAICS code and give

(18:59):
that to your banker, becauseyour banker, they are going to
push that out to all of thelenders who are going to ask for
any type of.
They're going to push that outto all of the lenders who are
going to ask for any type of.
They're going to ask for yourNIAX code.
They're probably going to lookat your business banker as well
and go what did they put down?
So these are all importantfactors, right?
So getting your businessfundable in that area, which is
having everything cohesive, andthen you're able to apply for

(19:21):
what I like to call tradevendors.
Trade vendors are vendors thatyou can use all the time and you
actually are using a lot oftheir products all day long but
you're able to get vendor creditthrough them and they will
establish an actual 30, should Isay a net 30 term, a net 15
term, a net 60 term?
You say what is that?

(19:42):
It's an actual term that thevendors establish with you that
allow you to pay back the debtwithin 30 days, or you can pay
back that debt within 15 days or60 days, whatever the term is.
But the beauty about these net30 terms, or above or less, is
that they actually report to thebusiness credit bureaus, so

(20:02):
they help you to establish tradelines, and trade lines are the
number one reason why you willbe able to get extended credit
and higher terms on your creditis the amount of trade lines
that you have on your businesscredit report.
And so you want to start fromthe beginning, work your way up,
and I actually have a greatsystem and software in place
that helps you, step by step,walk through that entire process

(20:26):
, including you got some helpfrom me too, so, again, this is
just a little gold nuggets tohelp you move forward.

Man, you are already dropping game on them.
Man, I don't even know if weshould still continue.
Man, we're giving them too muchinformation right now.
No, I'm kidding, no, but hey,terrence.
So when I first started off inreal estate, it only took a few
months for me to realize thepower of business credit and
what it can do for my businessRight.
The problem is, no one in myinner circle really talked about

(20:52):
it, so I didn't have theability to reach out to someone
to really show me how this stuffworks.
So I did what everybody elsewould probably do Started
Googling, watching YouTubevideos, listen to podcasts.
Started Googling, watchingYouTube videos, listening to
podcasts, but the informationwas all over the place.
Then I decided to pay for aprime corporate services
business credit program.
Now, it's important to know atthis time I already had an LLC

(21:15):
and a business bank account, sothey had me start off by filing
for a DUNS number.
About a few weeks later Ireceived the DUNS number.
Then they gave me a list oftier one net 30 vendor accounts
and told me to apply for threeand, once I was approved, start
utilizing them right away.
That way I can establish apaydex score Now, before I start

(21:36):
getting into the heart of myquestion.
I want to make sure we don'tlose anybody here.
What is a DUNS number and why?

do?
I need that Right.
So Dunn's number.
So Dunn and Bradstreet is agreat credit bureau.
They actually are the you wouldsay, the face of business
credit when it comes to thebureau side Dunn's and
Bradstreet and they actuallyhave what is called a paydex
score, which is from zero to onehundred, and you want to be
able to establish that paydexscore.
That DUNS number is directlyconnected to your paydex score.

(22:07):
So when you get your DUNSnumber, that just simply means
you now have trade linesreporting through Dun Bradstreet
and you can start building thatDun Bradstreet paydex score up
and you identify through that,through your DUNS number, and so
you have any business, anybusiness that is establishing
business credit, you need tohave your DUNS number.
It is one of the basics ofgetting your business credit

(22:29):
profile established is havingthat DUNS number in place.
Also a BINS number.
You know say, what is a BINS?
I had no clue what a BINSnumber was.
I'm like I have a BINS numberright on my car.
What's a BINS number?
A Ben's number is the actualExperian credit profile.
So when you have an Experiancredit profile you have what is
called a Ben's number.
That's B as in boy, so B-I-N-S.

(22:52):
Okay.
So Ben's number having that andyou want to report those trade
lines to that Experiancommercial side as well, which
is also your business bureaucredit report.

Awesome Now.
Okay, cool Now.
So going back to like how Istarted establishing my business
credit with the help of PCS, Idon't necessarily know if that
was the best way to go about it.
Some say the startup countsaren't even necessary, but I
will say it worked for me and itdid help establish my paydex
store.
With that being said, what arethe first steps that you would

(23:23):
recommend we should take tostart building our business
credit?
Are there any specific steps,any order?
If somebody wanted to starttoday, what would they start
doing?

First, you want to make sure that you even have
an entity.
You'd be surprised that thereare even a number of people
doing real estate that don'thave an established entity.
What I mean by that is an LLC,a C-Corp or an S-Corp.
And, of course, the best way tostart off if you're just
getting into business is to getyourself an LLC.
And once you get that LLCthrough the IRS, you want to

(23:56):
make sure you get your EIN.
You want to apply for an EINand get that EIN, because that
now is your employmentidentification number, which now
takes you out of the personalside.
You are now an operatingbusiness.
People think it's prettydifficult and they go well, I
don't have a business.
How do I establish a business?
Well, it's pretty simple.
It's actually not verydifficult at all.
In fact, you can get itestablished within less than 30

(24:19):
minutes, sometimes online, andjust go right through the
process and put your informationin and then apply for an EIN
and have that EIN attached tothat entity, to that LLC.
Okay, so that's the first stepsget an entity, get a business
started.

Right Cause, you're not cause.
You're not building credit onyour personal name, you're
building it on your business,which requires an entity Correct
.

That is correct .
And I want to add this too,because what I learned from my
mentor is actually to doeverything in reverse.
So you say, wow, what do youmean by reverse?
So, even as I know that I'mgetting ready to get an entity
started, what you have torealize is that, as you're
getting this entity and this LSE, c Corp, s Corp that is
actually with the Californiasecretary of state or whatever

(25:01):
state you choose you should haveyour business address
established, because that's whatyou are going to have to
provide when you build thatentity, or should I say when you
put together that entity.
So, for me, when I startedbusiness credit, I had to go
back and put a new address in.
I had to go back and put a andredo my NIACS code.

(25:23):
I had to go back and do a lotof different things, because I
should have done that at first.
Got it.
You know that, that that thatIRS and also the secretary of
state with the entity.
So I had to go back and put abusiness address in, so know
what your business address isgoing to be and again, you can
receive help with that.
You know, and of course I'malso here, available and we're

(25:43):
going to provide someinformation, of course, after
this where you can get incontact with me, where we can
help you do that in reverse,before you set that entity up,
to make sure you're positionedright with the right foundation.

Yep, and I want to note that you know, don't
overthink the business address,because you know you don't have
to actually have, like abuilding or infrastructure you
can ask.
So me personally, I use iPostal, which is basically just a
virtual mailbox, and I use that,and as long as you have some
type of address you can put downother than your personal

(26:16):
address, then you should be goodto go.
So don't overthink that part.
Okay, so now that we have abetter understanding of how to
start building our businesscredit realistically, how
quickly can you build a goodcredit score?

That's a very good question, awesome.
So the industry standard.
If you're not diligent withbuilding business credit, it
could take you nine to 12 months, which is still actually much
better than if you were to tryto do your business credit I
mean, sorry, your personalcredit on that side, for
somebody who's diligent and theyreally go after building their
business credit, it really onlytakes you between three to six

(26:51):
months to build your businesscredit, which is really nothing,
because some of these processescould take a week or two just
to change and you're good to go.
And now you've moved one stepcloser to building your business
credit.
So it doesn't take very muchtime to build business credit
and you can actually startgetting funding right now.
Depending on what we'd like tocall it, kind of a hybrid state,

(27:13):
if you may have some prettygood personal credit even
sometimes average personalcredit along with building your
business credit, there arefunding opportunities even right
now that people qualify forthat they don't even understand
that they can qualify for.
Just by having your entity andjust by having yourself
positioned in the rightfundability factor, you can get

(27:33):
yourself credit right now.

Okay, and then how much credit can a new
business owner expect toaccumulate in the first year if
they line everything up properly?

In the first year.
Oh boy, A year is a long period.
If you're diligent and youreally establish business credit
the way you're supposed to andthe way that you're taught and,
again, the system and softwarethat we use helps you to go
through that process.
And so, if you're going to beon that and you're going to do
it efficiently, you shouldn'thave anything less than $100,000

(28:03):
, anything less you should not.
If you have anything less than$100,000, there's something that
you did wrong when it comes tothe flow of the process, Because
, again, business credit doesn'ttake very long to build at all.
It's a very short process andso the minimum I would say would
be that about 100K.
If you don't have anything morethan that, there's something

(28:25):
again we need to check to seewhat did you delay or what went
wrong here, Because you shouldhave much, even much more than
that after that first year Induration.
I'd say that first year yeah.

Okay.
So, terrence, you and I, wecome from the same community,
sub two right, where we havelearned how to acquire
investment properties utilizingthe power of creative finance,
which typically means, most ofthe time, we're buying
properties with no bank loans,no credit checks, no bank
statements or any of that stuff.
Right, yes sir, why would I needbusiness credit man, what type

(28:57):
of real estate transactions orwhat are some of the things I
can buy in my real estatebusiness to take full advantage
of these new credit lines thatI'm working so hard for?

Man, I can't even.
I can't even say you asked abetter question because you
couldn't ask a better question.
Bro, I love that question.
Everybody's thinking it, man,everybody's thinking I know they
are.

I love that question Everybody's thinking it
, man, everybody's thinking it Iknow they are.

They have to be thinking it because it was
actually something that, even inmy own mind, when I started
looking at business credit, Isaid to myself wait a second,
you mean to tell me that thereis lines of credit available to
me, there are credit cardsavailable to me on the business
credit side that have 0%financing for 12 months, 18

(29:40):
months, some of them even higherthan that at high limits I'm
not talking 5,000.
I'm talking high limits 20,000,30,000, 50,000 and up.
So I said to myself, wow, itwas a huge deal.
Said to myself, wow, it was ahuge deal.
I remember even first comingeven in the sub two and looking
at getting a private moneylender and saying, man, okay,

(30:01):
private money lender, 10, 12%,sometimes even higher, depending
upon the terms in a transaction.
And I said, well, wow, thischanges the game.
You actually really don't needa private money lender If you're
able to untap and unlock thepotential of business credit and
you can get yourself all of thecapital you need at zero

(30:21):
percent interest, literally zeropercent interest.
So I said to myself, would Irather pay zero percent interest
or 12 percent interest?
I think that's a no brainer andI think it should be a no
brainer for everybody else aswell too.
Right as you're looking at thatgoing okay, so you can actually
do that and not have to putyourself in a position to pay
back those types of monthlyfunds when you could just not

(30:42):
pay anything for that.
0%, absolutely.

Yeah, it's so funny you say that and we're
going to piss some private moneylenders off right now.
But you know what?
No, you were going to.
Terrence said it, not me.
So it's funny, man, becausewhen I first got into Sub2,
we're in the community, rightand I was asking people and I
was like, hey, what's this aboutbusiness credit?

(31:06):
Who's doing what with businesscredit?
And then people were kind ofjoking around and they're like
credit, we don't need no creditman.
We buy properties with nocredit checks, no bank loans or
none of that.
And I come from I come from, youknow like I built up my
personal credit and I seen thepower that I can leverage that,
you know, into my day to day.
You know things that I dooutside of business.

(31:28):
So when I started thinkingabout it, I'm like they've got
to have like zero percentinterest cards, just like
personal credit cards, just likepersonal credit.
And if I can get it, you know,12 months, 18 months, 24 months,
man, like are these people justnot seeing the same vision that
I'm seeing?
Because I'm like dude, I canuse this for entry fees on
properties, I can use it forfurnishing costs for properties.

(31:50):
Dude, like you know, like youreally are only limited by what
you can think of what you canuse business credit for, you
know.
So it's funny we say that youknow and then it's like I
understand.
You know the power of privatemoney lenders and you're not
always going to be able toleverage business credit, but
you know, if I could getsomething 0% versus 12% it's a

(32:11):
no brainer, right?
So brainer.

Absolutely, absolutely, and one of the
reasons why we also say it'suntapped right is, yes, building
business credit doesn't have tojust be with the entity that
you established in the businessthat you have right now.
You can actually produce moreentities.
You can have more LLCs, you canhave more S-Corps, more C-Corps
.
You can continue to build out.
You can continue to build outhowever large you can see and

(32:37):
vision.
You can build your businesscredit.
It doesn't have to be justattached to whatever Again, llc
or entity you have right now.
Build more and then you buildmore business credit.
It's unlimited, it's untapped.
You just keep going, which iswhy we say it's the number one
way to get yourself funded.

(33:09):
Now, can I actually physicallytake this money out and use it,
or do I have to use it on aspecific transaction from Chase
Bank?
You can actually pull thatmoney out and still keep it at
0% and put it into a piece ofreal estate.
You can do however you want todo with that money and, again,
it's going to depend ondifferent lenders.
Some lenders will not allow youto do that because they will
charge you a very high cashadvance if you were to do

(33:30):
something like that.
There are a lot, though, thatallow you just to take that
money as just real cash and useit as you want, and so, again,
there'll be no penalty for that.
It will still honor the sameinterest rate of that 0% for
that 12 or 18 months Awesome.

Okay.
So when we're talking aboutpersonal credit, 680 to about
740 is a good score, would youagree?
Absolutely, absolutely Okay.
So anything above that ispretty much an excellent score.
Correct what would beconsidered a good business
credit score?
And are there any apps similarto something like Credit Karma
that you can use for free totrack and improve our scores?

So interestingly when you actually
so let me let me break this downfor you.
If you were to go directly toExperian and that's commercial
Experian and also Equifax aswell commercial Equifax and D&B
they have separate programs thatyou can purchase and buy into
to monitor your credit score.
So as far as in monitoring themfor free that's kind of the

(34:31):
caveat when it comes to businesscredit is you actually have to
pay these actual bureaus inorder to track your credit score
.
Now here's the other thing,though with the software that I
have and the program that I have, you actually pay one fee per
month and they are able toaccurately in time track your
Experian Equifax and Dun.

(34:52):
Bradstreet score and report allin one throughout the entire,
month in and month out, ofhaving that program, so you're
able to track it all the time,versus there's no other process
you can do that with.
You'd actually have to godirectly to the bureaus in order
to track it, and so, yeah, theywill not allow you for free to
track it, unfortunately, like acredit karma does on the

(35:13):
consumer side.

A lot of reasons for that too.

I want to mention this A lot.
Of.
The reason for that is when youget denied credit on the
consumer side A lot of reasonsfor that too.
I want to mention this.
A lot of the reason for that iswhen you get denied credit on
the consumer side, they have togive you a reason why they
denied you.
When you get denied credit onthe business credit side, they
don't have to provide anexplanation to you.
So, again, that tells you a lotright there, right, that kind of
gives you a little bit of thethinking of building business

(35:37):
credit, because if you figure itout, then guess what?
You're going to get a ton ofbusiness credit if you figure
out what the problem is.

And you're right about that, because I believe
there's a website called NAVright and NAV you could track
your credit score, but it's apaid service.
I believe you need to pay like$49.99 a month to actually track
this every month.
That's right and it's not inreal time.

So NAV is behind a bit, I can tell,
because my program that I haveis Bureau Insights that's the
name of it.
Bureau Insights works directlywith my organization and so you
can only get Bureau Insights ifyou are affiliated with my
organization.
You can't just go buy them onyour own.
You can't type it in and sayI'm going to get Bureau Insights
.
You can't do that.
But you can do it through thesoftware, the program that I

(36:27):
have, and it tracks it everysingle month and it shows you
exactly where you are inbuilding your business credit.
And so the other firms yeah,you're right, You'd have to go
pay those separately in order totrack it.
But again now, yeah, it's alittle bit off when it comes to
the timing in which you can getthings in.

OK, so, and now?
Do you need to have a goodpersonal credit score or to
build a business credit, or cansomeone with a poor personal
credit score still succeed inthis area?

Absolutely.
You do not need great personalcredit at all.
You don't need good personalcredit.
You don't need all rightpersonal credit.

(37:12):
You can have very poor personalcredit and build out great
business credit.
That's the beauty of buildingbe great on its own.
You can have again bad personalcredit and you can actually use
your business credit to buildyour personal credit.
That's sometimes what peoplemiss too.
As you're getting these linesof credit and you're getting
these loans and these creditcards a lot of times you can use
them just to pay off yourpersonal debt, which will build

(37:34):
your personal credit score upwith your business credit, and
also you can use those two aswell to get even more funding
and bigger funding.

Right, and so I mean I've heard of, like some
you know, companies actuallyrequiring a personal guarantee,
a PG.
Do you happen to know what thatprocess looks like?
Like, am I signing, you know?
Am I signing documents,paperwork?
Am I giving blood?
Am I giving my social security?
I mean, what are we giving yourbirth certificates?
Like, what does that personalguarantee process look like?

So if you're going to do a personal guarantee
it's interesting you mentionedthis because I was at a meetup
about I think it was about twomonths ago.
I was at a meetup and you knowit's interesting.
But a lot of business ownersthink, hey, I've established
business credit because Iactually got a business credit
card.
And then one of the questions Iask is I said is there, wait,
did you have a personalguarantee, that credit card?
Yeah, yeah, yeah, I had apersonal guarantee, but it's

(38:29):
still a business credit card.
So I got business credit andbut it just hurts me.
Only if I do bad, if I don'tmake a payment right, I go.
No, that's not true businesscredit.
You know, it's a, it's a hybridform that I'd spoken to you
about earlier is that if youhave good personal credit, you
can actually apply for businesscredit, which is great for those
.
But those business credit cardsare also attached as a personal

(38:51):
guarantee.
They're PG, they're personallyguaranteed, meaning that if you
are late on that payment it'sgoing to hurt your personal
credit.
Got it Now, if you have abusiness credit card and it's
only your business credit card,it doesn't affect your personal
credit if you happen to be lateon that credit card because it's
a true business credit cardthat has nothing to do with your

(39:14):
personal credit.
Got it?
Makes sense.
I understand, though you dohave days beyond term.
So DDT, let's say, if I'm lateon a business credit card, you
don't ever want to be late onany credit card, but personal or
business.
But if you are late on abusiness credit card, business
credit cards don't go on theconsumer side of that.
When you're looking at thebusiness credit card side, they

(39:34):
go by what is called days beyondterms.
So if you're one day late offof a business credit card, it's
one DBT day beyond terms.
Now the consumer side is 30, 60, or 90 days.
You have 30 days to be late andthen they'll count it towards
your credit report.
So DBT on the business side isone day so you can have that
report at the end.

(39:55):
So you got to be careful still,even if you're doing the
business and with that, one dayhurts you substantially and if
it does, how do you overcomethat?
Is there a way to you know?

(40:15):
Maybe I do like three months.
It could take forever to getthat off of your consumer side.
When you're doing it on the DBTside, you actually have a 90-day
window where you can startbuilding that up and it will
start to creep off of yourreport and have more weight on
your on-time payments, which iswhat your lenders are looking
for.
They're going to look at theday beyond term and go okay,

(40:35):
this guy was two days beyondterms on this particular account
, but on these other accounts hedid really well, so they
actually will disregard the 2DBTbecause of what you're doing in
these other areas of yourcredit.
On the consumer side, man, youcan have one 30-day late and
that will mess you up witheverything Right, right, moving

(40:56):
forward, not necessarily withbusiness credit.
They always look at the biggerpicture, the bigger picture of
things.
Versus this one time you werelate for 30 days.

OK, so let's say we do everything right.
We do the net 30s, we're payingthem on time, we establish a
good base history.
What's our next action step?
Do we start applying for storecards?
Do we start cold calling Bankof America to get the CEO on the
line?
Like, what are we doing here?

I love it.
It's kind of.
What I explained to you earlieris that we have ours broken up
into three tiers, so tier one,tier two and tier three.
So as you start to build thefoundation of fundability and
you become a fundable company,then you're going to get your
tier one credit.
That's your vendor credit, aswe talked about earlier.
You know vendor credits areUline.
You know you have Granger, youhave CEO, creative, creative

(41:46):
Analytics.
These are just differentvendors that offer you net 30
terms.
Whereas you stay on time withthese, it builds your trade
lines up, where you have tradelines to report in your business
bureaus, as you're able to getas you even said, even with PCS,
they have that on track too asyou get at least three trade

(42:07):
lines reporting.
That will allow you to move tonow your tier two credit, which
is what we just talked aboutright now your store credit,
your Home Depot, your Lowe's,your Walmart, your Amazon.
You're looking at yourNordstrom even.
You're looking at these storecredits now that you can apply
for.
That are really high limits aswell.
Okay, and on top of that, nowyou're moving in less time when
you get to at least those sixaccounts.
You're moving less time to tierthree.

(42:28):
So tier three is your biggersize.
That's now your MasterCard,your Visa's, your American
Express's.
That's fleet credit.
That's auto loan credit as well.
You know that you can actuallyget an auto loan credit with the
amount of trade lines we haveat least 12 trade lines
reporting you can actually get aGMC trade line, a Chev trade
line, a Ford trade line.

(42:49):
They give trade lines up to$200,000 to $300,000 to go get
fleet credit.
That's crazy, that's crazy.
And again, you don't have to owna fleet company to do that.
You can go to GMC and say, hey,you can send in your report,
get all of your ducks in a rowand you have at least 12 trade

(43:09):
lines reporting at a specifictimeframe.
Again, this is all tracked andour software does track this for
you.
But if you have those tradelines established, you can now
apply for that fleet creditwhere you can get those type of
uh, those type of uh fundings togo get a vehicle of your choice
with that particular brand, forchevy, gmc, all of them I'll

(43:31):
tell you something funny.

Man uh started getting some tools shipped to my
house.
My wife's like what hey, whatare building?
What do you plan on doing?
You don't get it, baby, it'snext level stuff right here.
Like I'm building somethinghere.
Man, she's like yeah, what areyou building?
I said I'm building credit.
She's like huh.

What are you talking about?
Right, what are you talkingabout?
Yeah, that's really what youhave to start with.
A lot of times when you arejust beginning to build business
credit, these starter vendorsare the best vendors to go with,
because it helps you with thosetrade lines.

Right, right Terrence.
What's your favorite business?
Credit card man.
What's your personal favorite?
Chase, Chase, Chase.
Why?

Because Chase is very lenient.
When I say lenient, when I saytheir terms, their terms are
very lenient terms.
I have 18 months with them of0% interest.
They started off right away outof the gate.
They gave me 8,000 and thenthey lifted it up almost right
at about 20, another 10 withintwo months and so, again, they

(44:38):
want to give you that credit offthe bat.
They want to see that at leastyou make a couple of payments
and they lift you up off the bat.
Citizens Business Bank isanother one.
So, citizens, they will giveyou credit right away and as
soon as you make one to twopayments, they'll increase yours
another 10 to 15,000.
And so have theirs juststarting off.

(45:00):
I mean and again, these arejust they just want to see that
you can pay it a couple of timesand they want to see you pay
over the minimum payment.
Once you do that, they're ableto just start throwing more
money at you, more and more andmore money at you.
As more as you can beresponsible with, they'll give
to you, which is the great.

That's awesome, okay, so what are some of the
common mistakes you often seelike new entrepreneurs making,
like when they're trying tobuild their business credit, and
how, how can they avoid them?

Sure, just not being cohesive.
As I said before, you know,really having their fundability
foundation laid out, they'llhave an address from, they'll
have a home address and they'llyou won't.
It's hard to get lending whenyou have a home address that
you're using.
Okay, lenders are looking atthat and, again, a lot of these
are through FinTech.

(45:49):
I'm not sure if you knowthrough FinTech, finance
technology but FinTech is just a.
It's an electronic system thatthese lenders use to see if you
are a fraudulent company or ifyou're legit, and they have that
criteria of fundability laidout, just as I'm explaining.
They're going to look at theaddress, they're going to look
at the email address, they'regoing to look at the phone

(46:10):
number, they're going to look atthe NYX code, they're going to
look at the DUNS number, theBINS number.
They're going to check all ofthese factors to make sure that
everything is lined up in theright way.
And if something is off, theyget denied right away.
And that's what a lot of youngentrepreneurs don't understand.
Is that, why did I get denied?
And they don't have a reasonwhy they got denied.
But when I take a look at thestructure of their business, I

(46:30):
go okay, I can see exactly whyyou got denied.
There's nothing that iscohesive around the board and
nothing is streamlined where alender can say this is not a
fraudulent company.
They have to be convinced thatthis company is not fraud.
Over 60% of denials come becausecompanies think that your
company is fraudulent.

(46:51):
That's what most people don'tunderstand.
And then we say well, what doyou mean fraudulent?
That's because it's notcohesive.
Things are not lined up theright way for it to be fundable.
So they look at it as they'recrawlers.
Remember the FinTech?
They said it as this is afraudulent company.
And you're saying to yourselfthis is not fraud, this is my
company.
They don't know that.
What they see is that thingsdon't line up right and so you

(47:13):
got to have a 411 listing to putyour, put your company on
Google, put it on 411.
I have all that set up.
I have all that streamlined.
So if you see my business,everything that a lender needs
to see to make sure that mycompany is fundable it meets all
the criteria.

So when I go apply, I know that there's no
way for me to get denied becauseI know that everything is in
sync around the board get denied, because I know that everything
is in sync around the board,smart man, and that's a good way
to go about it Make sure youhave the websites, the business
emails, the address.
Everything just has to line upso if they do go to do a search
on you, they can go and findyour company at ease.

(47:50):
They don't have to go dig inand think that you're like a
fraudulent company.
So good points on that.
Now, terrence, you are the CEOof a company called
Expandemonium.
I see you got that fresh fittedon right there, bro, which is
an awesome name, by the way.
Talk to us a little bit aboutthat.
What exactly does your companyoffer in regards to helping
people build their businesscredit?

Sure.
So again, let's get with thename.
You know the name, I thoughtexpand the money.
I'm like, yeah, because Ithought about the name
pandemonium.
I'm like, when I think aboutthe name pandemonium, you know
I'm an old football head man,you know I'm old school, you
know I'm like and I thinkpandemonium, being on the
football field and I'm justeverybody's running everywhere,

(48:34):
we're just crazy out there,right, and I'm just everybody's
running everywhere, we're justcrazy out there, right, and
there's a lot of growth thattakes place.
And I remember our coach usedto say we used to always be at
practice and we'd have thesehard workouts.
We would go it's pandemonium inhere.
You know, we just say that,right, and we go there.
He goes again it's pandemoniumin here.
And so when I thought aboutthat, for some reason in my mind

(48:59):
I thought, man, it's all aboutscaling, scaling a business,
expanding a business.
And then when I said the wordexpand, the word and demonium
came to my mind and I thoughtexpand ammonium.
You know, it just hit me expandammonium.
I said I want to help businessowners really expand their
business and just have an.
Just make it.
Expand ammonium.
They're just going, they'rescaling at all levels of

(49:19):
building this business.
And so for me, expand ammonium.
It's the slogan at the bottomdon't die.
When I say this here, it saysdon't die, but expand.
I like that.
Don't die, but expand.
Many businesses, as you alreadyknow, they die.
More businesses die thansucceed, unfortunately, and the
number one reason why businessesdie is because of a lack of
capital.

(49:40):
So that's my job.
Our job in Expanded Money is tohelp business owners build
business credit so they canproduce funding that's going to
help them sustain and scaletheir business, and that's what
I tell anybody, as far as evenan elevator pitch.
That's what I do, and so helpthem build that business credit.

Okay, so let's say they sign up for your
services.
Now do they still have to doall these first steps that we
talked about in the beginning ofthis podcast?
Or is it something that theyjump in with you with no
experience, no credit, and youguys basically walk them through
this process?
And what does that look like?

Sure, both.
It's both.
It depended upon where you arein your journey, because
everybody has an individualjourney and there are people who
I even had presentationsearlier today this morning,
where I had a guy who actuallyhad no personal credit.
I mean, literally, he's like Ihaven't even established any
personal credit, but I have abusiness that is pretty nice and

(50:35):
he actually has a little bit ofrevenue, which is great.
I actually talked to a gentlemanearlier too.
They earn about $45,000 permonth in his business and it's a
transportation business.
He said but I use so muchpersonal credit to build this
business.
I now understand I got to buildsome business credit as well.
So he's actually my new clientthat just started earlier today,

(50:56):
which is great.
Well, so he's actually my newclient that just started earlier
today, which is great, and so Ijust again told him about
really the importance ofbuilding business credit and
really establishing that.
So those are two differentjourneys that these gentlemen
are on and they are going totake a different approach.
So if we need to establishsomething on the base side of
things, I'm there for that inthe program and the software
will help guide you through that, and there's a very large

(51:18):
advisory team that I have inplace that will help you with
the seven step system, becauseit is a seven step system to
help you get that four to sixmonths of solid business credit
and solid business funding thatyou can get, and so that helps
you to keep walking through that.
Plus, you have access through me, so I've put myself out there
for those who want to take thatjourney and really start

(51:39):
building that business credit.
I'm going to be there for youwhere you can call me.
I'm going to have a link thatyou can use that you'll be able
to access me two hours everysingle week to be able to help
you and guide you through thatprocess of the business credit
building process.
On top of that, I think anybodyknows the industry standard.
If you've looked into anybusiness credit the industry
standard for really a program tostart building business credit

(52:03):
a lot of the gurus out therethat I say they're building
business credit.
They have programs that are$3,500 all the way up to $6,000
to start building businesscredit For me and for this
podcast.
I want to put a special offerout there for everybody.
So if you go on my website,expandemoniumvip, you'll see
that my standard price is $24.97.

(52:24):
That's a one-time fee $24.97.
And again, that's lower thanthe industry standard, which is
amazing because of the valuethat you have and the bonuses
that you have that come withthat.
So that already is a greatdiscount according to industry
standards.
But for this podcast, I alsowant to put another one out
there and I'm going to have thisrun until the end of August.

(52:44):
So anybody who sees this andanybody who's interested in
getting help with building theirbusiness credit, I'm going to
take $1,000 off of my basealready lower price, and it's
$14.97 only for those who arewatching this podcast.
On top of that, you'll have thetwo hours of help from me each
week and on top of that I'mgoing to add on one more.

(53:06):
You guys see that I'm hereright now at the beautiful
Huntington Harbor.
Right here, this is our FreedomBowl Club location.
So what I'm also going to do aswell is I'm going to add in for
those who are watching thispodcast.
I'm going to add in a two-hourboat ride as well for those who
want to jump on board and getinvolved in this podcast.

(53:26):
Yeah, so I'll be able to offerthat to you as well, and we can
ride around the harbor and giveeverybody, including their
family, a trip around the harborfor two hours as well, whoever
wants to come on board.
So extendemonium on that VIP,and you can take a look at
everything in there, includingdownloading a free ebook and
looking at all the details ofwhat it takes to go step-by-step
, to build your business credit.

(53:47):
On top of that, you'll haveaccess to me and you'll have a
lower price on that too.
So I got you.

That's love brother Cause you know.
Terrence didn't even offer methat boat.
I still love you, bro, you know.
But it's all good though, youknow, but no, that's a.
So you guys, there you go, man.
Twenty four, ninety seven isalready pretty much almost
identical to what I was payingPCS, but now you're getting a

(54:14):
thousand dollars off of that.
So if you guys are watchingthis right now, make sure you
guys take advantage of that.
And if I heard you right, itdoesn't matter where you are in
your journey, right?
So you could be just startingout or you could already have
business credit established, andthen it's a different
conversation, right, correct,correct, okay.

Correct People have to understand.
That is that there's accessiblethings that you have as an
established business owner withbusiness credit, things that I
can unlock and help you to seethat maybe you're not aware of.
And also, if you're juststarting and you're green, you
don't really have any knowledgeof business credit.
Now you can start learning howto do it from the ground up,
without having to get rid of badhabits right or be retrained.

(54:54):
You can start things fresh andon the right path.

So that's the coolest hey, I appreciate you,
man.
So, terrence, what final, whatfinal piece of advice would you
give to someone just starting toexplore the world of business
credit?

um, I would say make sure to be humble and be
coachable.
Be humble and be coachable.
Um, it's very.
It sounds maybe too simple, butit's really not too simple.
I can tell you why.
Even when I began on my journeywith business credit, a little
bit of my arrogance and ego cameinto play, overlooked that,

(55:27):
just to find out that I neededto go step by step right.
I needed to be somebody who wascoachable, who follows the
process to a T.
If you follow the process, Ican guarantee you, if you follow

(55:47):
this process to a T, you willunlock so much funding for
yourself in such a short amountof time that it will literally
spin your head.
But you have to be coachableand you've got to be humble to
do that.
So if you're willing to do that, man, you're going to go a long
way.
You're going to go a super longway.

Yeah, I love that .
Now I know we covered a lot ofinfo here today on business
credit Terrence.
Basically just gave us all theblueprint on how to get started,
so I hope you guys were takingnotes, by the way, but anything
you can think of that we mighthave missed or didn't cover here
today.

T.
Let's see what else.
Other than that, I would say,if you're not a 49er fan, then
there's some things you got toprobably think about too,
because I do see that hat.

But it's okay, I forgive you.
Hey, don't be taking the offeroff the table now.
Man, don't take the offer.

Don't, don't hurt, won't hurt the followers
man because of the great thingright here.

You know I'm joking with you.
You know that was a good one,though I just had to throw it
out there you know real quick.

but, on a serious note, I think we did
cover a pretty good gambit of it.
Um, however, there is a lot, asyou already know, jo.
There's a lot that goes withbusiness credit.
It's not hard to understand,it's simple, but again, it's
just getting the information,and we know that those who have
the information are the ones whoare able to make informed
decisions.
So, hopefully, as you got theinformation today those who are

(57:09):
out there listening you can makesome informed decisions on how
to positively move forward withthis opportunity, versus sit
back and just think should I andI think that's probably a
problem that most people can runinto is that procrastination?
And should I?
No, you should, especially ifyou're trying to expand and grow
a business.
You need it's not a want, youactually need business credit.

(57:32):
It's what is the lifeblood ofyour business.
Just like we talk about in realestate, leads are the lifeblood
of your business.
Without leads, you have nobusiness.
Without business credit, youreally have no business, because
you need capital to build abusiness.

Awesome.
Well, Terrence you, the man bro.
You brought a bag with youtoday and just made it rain on
all of us.
So appreciate you, man.
You're super knowledgeable toyou on a real talk.
You're very well spoken and,from what I can see, you're
always giving game out to othersand leading with value.
So thank you.

Brother.
Thank you For all of you guys.
Man, keep listening to my boy,joe Joe again, you're a special
guy, dude.
You bring so much value to thetable.
You have such a level ofcomfort, man, when it comes to
doing these podcasts.
So I got nothing but love foryou, bro, and I can't wait to
see you grow and do some great,amazing things in the future.
My man.

I really do T.
Where can people get ahold ofyou?

Well, you can actually go by.
Actually, let me go ahead andgive you the for those of you
who need to contact me.
This is on this podcast here.
So here's my direct access.
Okay, you can go to my emailaddress TS.
So this is Terrence Spencer.
Ts at expandemoniumvip sothere's the name there
expandemoniumvip.

(58:49):
Okay, that's my email addressand you can reach me directly on
my direct business line at949-516-1529.
I'll say it again 949-516-1529.
That is my direct businessaccess on my direct business
line.
So make sure, if you have anyquestions, you have any

(59:12):
inquiries, feel free to reachout to me.
As Joe knows, I am definitelynot one who is abrasive in any
way or confrontational in anyway.
I embrace and love every singleperson who comes with questions
To me.
There's no dumb question.
You have to ask all of them andwhen you ask every single
question, hopefully you get theanswers and I can give you those
answers.
If not for me, I can providethe person who has the answers

(59:34):
for you.
Let's go.

Now, if you guys are finding value from this
podcast, don't forget to showyour boy some love.
If you like what we're bringingyou, don't forget to subscribe.
It helps us continue providingvalue to others by reaching a
broader audience.
We're out here to serve, learntogether and help as many people
as possible.
Make sure to also smash thatlike button and drop a comment

(59:57):
down below.
If you already started workingon your business credit, I want
to know what your favoritebusiness credit card is.
Appreciate all the continuedsupport and, guys, stay tuned
because we're pumping theseepisodes out every two weeks.
I got some awesome topics andguests coming up next.
That will change the entire wayyou do business.
You definitely don't want tomiss out.

(01:00:18):
Best, believe I'm going to keepbringing you that fire.
Don't die, expand.
Thank you, terrence.

Terence Spencer (01:00:26):
Let's go Got you.
My bro, take care.
Welcome to our Channel.
Today we show you how to make aSuper Cool, super Cool, super
Cool, super Cool, super Cool,super Cool, super Cool, super

(01:00:56):
Cool, super Cool, super Cool.

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How to Get Business Credit Fast: Expert Tips for New Entrepreneurs | Episode 16

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.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}How to Get Business Credit Fast: Expert Tips for New Entrepreneurs | Episode 16