Business Credit Builder Statement of Work
On behalf of the entire Flyy Credit family, we’d like to welcome you to the Business Credit Building Program! For the past 5 years, we’ve helped businesses just like yours build and develop robust business credit. How do we do this? We guide business owners and entrepreneurs through the complex credit building process with an easy-to-follow approach that simply yields results.
A Step-by-Step Process
At Flyy Credit, we believe in a common-sense approach to a proven process of success. That means that each step in our program is important and builds upon the last. Our cumulative approach condenses a process that often takes years into months.
Step 1 – Business Compliance
We start with the basics—things like getting you incorporated (if necessary) through our partnership with one of the largest incorporators in the country, and establishing things like your business address, branding, website, professional email and voicemail, phone listing, and business documentation. We start with these seemingly simple things because they’re essential to the process.
These basics are the foundation of your business credit. As such, even if some or all of these have been established for your company, they need to be accurate and in full compliance for your business to maximize its business credit potential.
Step 2 – Develop Credit Profile
Once your business is legally compliant, it has a solid foundation to build upon. Our process guides your business, step by step, through the early stages of business credit development. This includes opening vendor and other business accounts, acquiring credit monitoring, making small net account purchases, and paying bills on time.
This is often the slowest part of the process, but it’s also one of the most essential. Developing a solid payment history for your business is an integral part of our credit building process. A solid payment history establishes your credit profile and lets lenders and bankers know your business is trustworthy and ready for larger financing amounts.
Step 3 – Put Business Credit to Work
Once your business has established a solid payment history and developed a robust credit profile, the fun part really begins. This is when your business puts its hard-earned credit to work and starts getting approved for non-PG (personal guarantee) credit cards, leases, and even business loans. But let’s not get ahead of ourselves.
First, we need to start at the beginning. Each step of the process, including the little things, work together to create robust business credit you can use to increase financing amounts, get better terms and lower rates, and acquire the capital you need to run your daily operations.
Our Commitment to You
Working relationships only succeed when both parties work together toward a common goal. For this reason, we like to lay out some of our responsibilities to your business. They include, but are not limited to:
• Researching your business from the perspective of bankers and lenders
• Providing research findings and laying out a path to full legal compliance
• Providing step by step instructions to guide your business through the credit building process
• Filing for DNB number online, or manually if necessary
• Completing vendor account applications
• Completing business credit card applications – All you need to do is sign them and fax/email them for approval
• Assisting with up to 5 credit disputes
• Scheduling and maintaining appointments
• In first month of program: providing 1 phone call/callback per week
• 2nd Month – 1 year: providing 1 phone call/callback once every 3 -4 weeks
Maximize Your Results
We get it, life is busy. Between the hustle of work and making time for family and friends the last thing you want to do is spend time worrying about your PAYDEX score. That’s why we’ve made our program so easy to follow. In fact, when you complete our easy-to-follow process in a timely manner you maximize your business credit potential and reap the most benefit from our program.
Because this is a working relationship, you also carry some responsibilities. Your responsibilities include the work we are restricted from completing for you as the business owner. These actions will be communicated via our support staff and our website. But, first and foremost, the most important responsibility on your end as the business owner is to always pay all credit card bills and invoices on time. The only way you can become credit worthy is by you being credit worthy.
Our members’ website contains a wealth of information on business credit. This includes how to
quickly and effectively build a robust credit profile for your business.
Depending on your specific situation you may have already completed many of these steps. Some of the most common early steps include acquiring an EIN number, acquiring business credit monitoring, setting up a website, business branding, using a professional email address, and even setting up a professional voicemail.
Each completed step brings you closer to reaping the benefits of a strong business credit profile. Remember, each step of our proven process is important and builds upon the previous step. In order to expedite the process and maximize your results please complete each step in a timely fashion.
This is a Partnership
You’re not alone—we’re in this together. We’ll walk you through the business credit building
process step by step. While most of our clients begin seeing results right away, please be aware this is a minimum six month up to one-year commitment to building the asset of business credit for your company. This program is not designed to be a “quick fix” to an immediate need, but a long-term solution for the life of your business! If after the completion of the one-year agreement, you wish to continue the program, a continuation fee may be required.
Let’s get started!
By signing below, you agree to work with the Flyy Credit support staff, to complete all necessary actions in a timely manner, and to diligently work toward developing robust business credit you can use to acquire larger financing amounts, lower rates and terms, and grow your business.
Program Goals and Outline:
Establish Tradeline Foundation & Corporate Funding Readiness
• Ensure your company meets industry standard credit compliance standards
• Establish your company’s profile with Dun & Bradstreet
• Build your company’s D & B Paydex score to 80
• D & B profile cleanup, remove derogatory comments from file
• Establish your company’s profile with Experian Business
• Build your company’s Intelliscore to 80
• Experian profile cleanup, remove derogatory comments from file
• Provide known transaction-reporting vendors and exclusive Trade Exchange vendors
• Open various Net 30 and revolving credit accounts to establish tradeline history
• Evaluate existing business credit profiles and scores to provide strategies that increase
the likelihood of credit approvals
• Access to CCNs exclusive membership website where you can learn everything youneed
to know about building corporate credit
• Access to our Corporate Credit Professionals who can answer your questions and provide real solutions
Corporate Credit Compliance Evaluation
a. Research your company from the lenders perspective
b. Provide low cost solutions to missing compliance items
c. Verify corporate status with your secretary of state
Credit Bureaus (within 30 days if needed)
- Set up files with DNB and Experian
- Get Paydex score and Intelliscore populated
- Evaluate Key Scoring Factors that affect your company’s ability to obtain credit
- Dispute derogatory information in your company’s credit reports
- Ensure the consistency of your company’s data across multiple credit reporting bureaus
- Learn the TRUTH about credit bureau products & services and how they can actually damage your chances of obtaining credit
Net 30 Vendor Accounts (within 60 days)
- Open 5 – 10 Net 30 No PG vendor accounts
- Obtain unlimited credit in vendor accounts
- Establish and evaluate reporting
Retail Business Credit Accounts (within six months)
- Open 1-5 revolving retail credit accounts
- $1K to $10K in No PG revolving retail credit accounts
- Establish and evaluate reporting
PG & No PG Business Credit Cards (six months to one year)
- Open 2-3 No PG & Non-reporting PG credit cards
- $10K to $50K in revolving credit card accounts
- Establish and evaluate reporting