there are certain things that these unsecured  lenders are looking at and you'd be surprised   at how picky they are especially right  now some of the most watched videos   about business credit now you would think that I  would double down on business credit information   considering I've gotten over a million dollars of  business credit but I don't want to let me tell   you why I've been very standoffish about providing  more business credit information because I feel   like in our culture there is an air of people just  want to get something for nothing like people are   just obsessed with business credit because they  think that it's free money and so I thought about   it rather than me just not giving people what  they want videos about business credit maybe I   can help out some of those people who think that  business credit is free money and they're trying   to really just take advantage of the system maybe  I can actually educate them to show them how this   is a really powerful tool so that they can avoid  going bankrupt so in this video I am going to give   you three really amazing tips on how to properly  manage business credit so you don't go bankrupt   and also I have an amazing surprise for you at  the end no it's not some surprise where I'm trying   to pitch something to you it's like a real life  surprise for it at the end so make sure you stay   tuned the first tip I have for you for managing  your business credit without going bankrupt is to   manage all of your accounts on a spreadsheet this  is so important chances are if you get approved   for one business line of credit worth say five  thousand ten thousand fifty thousand dollars   you probably also going to get approved for 8 10  possibly even 20 other lines of credit so why not   go for all of them so if you and your personal  life you've you've never had business credit   you've been managing I don't know 10 accounts  your cell phone bill your regular credit card bill   your car note your mortgage or your rent payment  that say that's 10 accounts that you manage and   you have to keep track of then all of a sudden  now you've got 20 more accounts that's 30 lines   of credit or responsibilities that you have  to remember to pay every month trust me do   not leave it up to your brain to remember all  that it will drive you absolutely nuts so you   want to set up a spreadsheet let me tell you how I  have my spreadsheet set up it is very very simple   okay you're going to have a spreadsheet with the  First Column is going to be the account name and   then the next column is going to be the reporting  date whatever date of the month that that account   reports and then the next column you're going  to have the URL where you would pay the account   the next column is going to be the username and  the next one is going to be the password you're   going to sort everything by the reporting date  so this is a spreadsheet and that is one sheet   then that is going to be your central location to  house all of the major information for all of your   accounts then you're going to need to actually  track everything you're going to have another   tag where you're just going to have uh one column  with the account name the next column is going to   be the reporting date for every single month so  you're going to have it look something like this   every month at the beginning of the month you want  to copy down the dates that main column from the   first sheet and then you're going to drop it in to  your actual reporting sheet and every single month   you want to use this to track what needs to be  paid by when so you can log in maybe once a week   and pay the stuff from the previous week or the  stuff for coming up for the next week however you   want to do it but you're going to need something  to keep everything Central to help you understand   your responsibilities and how to manage them  properly now some of you may be wondering how do   I get 30 different business lines of credit that  is what the surprise at the end is I'm going to   tell you how you can do it and yes trust me if you  can get one business a line of credit you can get   a lot of them but they have to be done properly  and strategically so make sure you stay tuned to   the end end of this video the second tip this one  is really important your business activities have   to outperform the minimum payment of the debt  your business activities that you expanded on   have to outperform the minimum payment on the  debt what does that mean if you borrow fifty   thousand dollars keep it very very simple and  you take that fifty thousand dollars and put it   to work the return that you get on that from a  nominal dollar amount has to be higher than the   minimum payment let's say the minimum payment is  five hundred dollars that fifty thousand dollars   needs to be bringing in at least five hundred  and fifty dollars so that this whole business   credit thing is actually profitable if you take  fifty thousand dollars and your minimum payment   is five hundred dollars and that fifty thousand  dollars only earns you two hundred dollars a month   this is not good okay this is not good you need  to figure it out this means that your business   didn't have a money problem your business had  an infrastructure operations a marketing a sales   Problem whatever I don't know what the issue is is  it could be a million different things but this is   not something that money will solve and business  credit may not be for you if you cannot calculate   to some degree of confidence that hey I'm going  to borrow this money and it's going to outperform   the minimum payment now keep in mind real estate  is going to be a little bit different because a   lot of times we as developers if you're brrrr-ing  properties you're buying them and you're rehabbing   them you're going to have a good amount of time  you're not going to bring any money but your   exit strategy needs to outperform your minimum  payments so if you borrow fifty thousand dollars   and your minimum payments for the entire year is  ten thousand dollars by the time you exit out that   property you need to at least be able to pull out  sixty thousand dollars at least that's the fifty   thousand dollars in debt that you borrowed plus  the ten thousand in the minimum payments or the   interest payments depending on how it's set up if  it's not just interest payments your payments are   going to eat away at that principle but you kind  of get my very crude math it needs to outperform   it this money needs to be profitable it needs to  be working no one likes an unprofitable worker and   my last tip is do not borrow money get business  credit for a business that does not have proof   of concept what do I mean by that you need to  know that your business brings value to people   I'm going to rephrase that you need to know for  sure not a reasonable certainty like I said before   we're not talking about a reasonable certainty we  are talking about for sure you know that people   believe that your business brings value now some  of you have businesses and you have business ideas   I'm not talking about real estate we want to put  that one to the side for just a minute you have   business ideas and you run these ideas by your  family members and your family members are like   oh my goodness this is a great idea that is not  proof of concept you need to be able to sample   the market put something out here to see if people  really do want it there may be instances this is   really important I used to run across this all the  time when I had a digital marketing agency years   ago people had ideas that sounded like really  amazing ideas it sounded like something that   would really help people something that people  would love but when they put the product out to   the marketplace the marketplace didn't respond  for a there's a number of reasons that's a whole   Business Development conversation and a business  conversation that we can have but people need to   believe it how do you know is if you sample it if  you actually bring your product to the marketplace   if you have an idea that really does require a lot  of startup money to even sample it and bring it   to the marketplace you don't want debt you want  to raise money through Equity you want to go to   someone and say hey take on this risk with me  do you believe in me take on this risk with me   that's different than debt that means you got  to pay back no matter what equities someone's   saying hey yes I will take on this risk with you  in exchange I want a portion of the business I   want to have ownership of the business and  so there's a trade-off there but that is a   better way to raise money for a business that  doesn't quite yet have proof of concept now   this final Point The Reason Why Real  Estate is so sexy for business credit is   because real estate has proof of content  it's been having proof of concept since   tens of thousands of years ago humans have been  around for 200 000 years okay I can guarantee   you if they had the proper tools to go back  and look and see what humans were doing 150   000 years ago guess what they was renting out  properties I promise you it might not look like   I would look today they was trading berries for  a Hut they were streaming berries for a cave okay   real estate is a proven concept we already know  what it is now it differs for how people run their   business the contractors they hire the type of  tenants they bring in but at the end of the day   you really do have a iron clad group blueprint to  actually outperform the minimum payments on that   business debt okay okay so this is what I'm gonna  do I have a really good friend Eric Eric runs a   business funding specialist business he's gotten  our members of the better than success real estate   League millions of dollars in business credit  he's also gotten me a good amount of business   credit and this is also like real life my friend  so what I wanted to do is recite these tips and   I'm going to share them with him and then we are  going to call him and see what he thinks about   my tips about business credit management making  sure you do not go bankrupt and making sure we are   responsible with this and understand that this is  not free money so let's hop over and FaceTime Eric   all right Eric you saw my notes about how to not  go bankrupt with business credit and so you are   a business credit specialist you are a business  funding specialist you have gotten our members a   lot of money you have a more accurate running tab  of that number but um you gotten our members a lot   of money and I completely trust you in this area  what did you think about my tips well I looked   Nicole you're most people don't hit it hit it on  the head right so I saw those tips what I really   got out of it was that you understand and number  one you're out there using it so I love to see   someone who's using business credit explain how  they're managing it properly because that's that's   what that's what I do right being a real estate  investor of over 20 years right I I really I think   points one and two that you made about using the  spreadsheet as well as making sure that you're not   getting involved in Opportunities where you're  not able to out earn the interest that you're   paying or the two key pieces of putting it to  use properly so for me personally right I just   want to add a little bit to what you said about  using that spreadsheet for me I've been using   what I call my CCM my credit card management  spreadsheet for the past 15 years and yes you   will have multiple when you build business credit  right you're going to have multiple multiple lines   that you need to stay on top of so a spreadsheet  is awesome in my spreadsheet not only am I keeping   track of you know when when the pay dates are the  payment dates are for a lender I'm also keeping   track of when if if a business credit card is on a  promotion when that credit card promotion is going   to expire I want to know that want to know that  um another thing that's important is what's the   current interest rate on it so imagine if you had  one you had a snapshot of all the different lines   of credit that you were using where you could  know the Blended interest rate as a real estate   investor as a business owner what's that Blended  interest rate that you're paying on the multiple   lines in an instant so so our spreadsheet and the  spreadsheet that I've been using to manage four   of my llc's for the past 15 years combines all of  that so I love I love the idea of the spreadsheet   um you know my background's in engineering so  I'm a spreadsheet you know spreadsheet King   Excel Champion they call me uh in my past life and  and to me just having all of that information in   one spot that you can access within seconds is  is the key um one other thing I'm going to add   with the pay dates right so when you're making  your minimum payments I personally I do not set   up online payments with every single business  credit bank or lender I manage that from my main   business checking account and make the payments  out of their bill pay system so that I can pay a   little bit more than the minimum payment if the  minimum payments twenty five dollars a month I   want to pay thirty dollars helps you to build  that business credit uh and the limits up over   time and for you to you know keep killing it in  in terms of building up building up the access   see I like to I like to log in because I like  to see what my balance is like I don't rely on   those paper statements the U.S snail mail is a  nightmare right now and so um I like to log in   and I want to see what's going on with my balance  is what you know whatever so but you know I'm I'm   here for whatever option people have to really  know when something's due and not forget you know   whatever so okay you have this famous spreadsheet  yes before we even I want to know how can people   get access to the spreadsheet but before we go  in I want you to give everyone maybe like a 30   second quick bio about what it is and what you do  all right so I am Eric Mauz owner and Lead funding   strategist of MB Capital Solutions we specialize  in helping small business owners and primarily   Real Estate Investors in accessing opportunity  money right opportunity money meaning unsecured   revolving lines of credit under the business that  you can use for opportunities in your business for   real estate deals to make sure that you don't miss  out on a deal due to lack of access to Capital and   credit and that is my number one goal as you know  as a as a strategist helping you know thousands of   Real Estate Investors let's set them up let's make  sure they don't miss out on a deal due to lack of   access okay so now that we know all that good  information about you why don't you share where   people can get access to this amazing spreadsheet  that you have all right so um every client right   everyone that becomes a client of ours gets access  to the spreadsheet if someone's interested in   in obtaining that ahead of time or just wanted  just as a reference point to use um hit me up with   a with an email with a quick text let me know  you're interested in that in that spreadsheet   um and and myself and my team will make sure that  we get you a copy of a of a blank spreadsheet that   you can populate and start to use okay where how  can people text you or email you so my email is   is my first and last name Eric Moz at MB Capital  solutions.com and my direct line is 856-556-0830 and if you hit them up as a result of watching  this tell them that I sent you because Eric has   a little discount for you if you decide to move  forward so let me just say this too for people who   think that they can go out and get business credit  alone right they want to watch a bunch of YouTube   videos and say okay I'm going to get business  credit alone why would they use you versus doing   it alone I know the answer but why would they use  you tell people why they need to work with someone   like you versus going at these individual banks  by themselves I mean it's it's the data right   I've I've talked to a number of business owners  a number of Real Estate Investors that have gone   to the same banks that we utilize yet they were  working with the wrong Banker at that bank and   didn't know how to position the application  position the profile the credit profile ahead   of time to make sure that when you get in front of  that underwriter you're set up for optimal success   um and also the credit side right there are  certain things that these unsecured lenders   are looking at and and you'd be surprised at  how picky they are especially right now I mean   they are they want a A plus type profiles so the  little the little tweaks that you could do to to   boost up that that personal credit profile to go  out there and get more access or to get approved   for for business credit I think are two two key  reasons why it's it's nice to have the expert   in your corner and you focus on your business  focus on finding finding the next opportunity   also too like um we talked about going for a round  of credit like from multiple lenders and multiple   Banks if you try to do that by yourself that's a  lot of hard work it's a lot of heart you're gonna   be taking time off from your business and I will  tell you the times that I've gotten money from   Eric and the times our members got money from  Eric is this like a couple phone calls you know   we Eric is and one thing I love about Eric is he  got a time so I'm calling a code from 205 to 207.   we have our little quick little powwows he was  like hey Nicole what's up how you doing I'm doing   good you worry how the kids are doing okay call  your mom right and so like if he's not wasting   a lot of your time we have our business calls  obviously they're a little longer but like he's   not wasting your time so you can go and focus on  your business because he's got a whole business   that he's focusing on as well right no one's here  to be sitting around taking our time filling out   these long applications trying to figure out  what the lender wants all that stuff and so   um they already know they have relationship  with these lenders I'm not here to sell them   I'm just really here to tell you this is how  I've gotten a million dollars in business credit   love it um so before we head out of  here this is a real important question   can you share one or a few reasons  why you see one of the common reasons   you see when people do end up defaulting on  business credit like what most common thing   you know I hear a crazy story what happens and  why does it happen and how can people avoid it   I think I think two main things come to my mind  right one is they're not looking they don't review   it they don't take the time once a week once every  couple of weeks to look at what they have going   on look at that spreadsheet to just make sure that  they're on top of it and that the minimum payments   are set up so that's the second side of it is set  up the auto pay set up those minimum payments you   know maybe you want to pay a little bit more than  that but at a at the very least make sure you have   auto pay set up with these lenders and and these  Banks so that it's automatic right you want it   to be as automatic as possible um and then you  know one one thing that you touched on in this   was making sure that there's an opportunity and  that there's an opportunity for using the funds   in something that's a proven concept like I think  of real estate being a great opportunity because   there's always that exit strategy right you can  get into a deal you can buy it you can flip it   we pay back the lines think about same thing  with the when you're buying renovate and then   refinancing you're going to use the refinance  to pay back the lines if you're a contractor and   you have a toolbox and you're out there  and you take a tool out of the toolbox   and you're done at the job site you don't forget  to put that tool back in the toolbox because then   if not you walk away without the tool it's the  same thing same way you need to approach the lines   of credit and business credit use it as a tool for  the opportunity in front of you but then make sure   you put that tool back by paying back the line in  the short term right when the opportunity when the   exit strategy is complete because if not you find  yourself using a short-term product in a long-term   strategy and that's another another big reason why  many fail at utilizing business credit properly thank you so much Eric so why don't you tell  everyone where they can again where they can   get in contact with you if they want to learn more  about your services so they can get some lines of   credit responsibly nice so check out our website  MB Capital solutions.com and then hit us up at 856-556-0830 love to uh create value for  you and and help you continue to grow   all right thank you so much Eric and  everyone subscribe to the channel   hit that notification button and I will  see you all later live long and prosper