FAQs

FAQs

Asked Questions about “Corporate Fast Track (CFT) and the Fast Track Business Credit and  Start-up Training Program”


 

Q: How fast can I build my business credit?
A:
It dependes on how your company ranks in the lenders, vendors and suppliers eyes. In the first few days of beginning the program, we evaluate your position before you apply for any credit. So, it could be 15 days to 12 months.

Q: How fast can I start acquiring business credit?
A: Again, it depends on the evaluation outcome. It could be 15 days or 12 months.

Q: What is Corporate Fast Track?
A: Corporate Fast Track, established in 2000 and owned by BDC, a Maryland corporation since 1996, is an online video training and coaching service, whose main function is to assist entrepreneurs, start-ups and small business owners with building and establishing their Business Profile. The Business Profile is a “separate” profile that is evidenced by a separate entity with its’ own credit file that is different and separate from the personal credit file.

Q: What is Purpose of Corporate Fast Track?
A: The purpose of CFT is to assist business owners, entrepreneurs and start-ups on how to build a business entity that is separate from their personal entity by signing them up for the Fast Track Business Start up eleven (11) month Training program.  Another CFT purpose is to provide documentation to support the existence of a “credible and compliant business entity at the end of the 11 month Fast Track Buisness Start up program.  CFT’s additional purpose is to help clients in the 11 month FTBS program learn how to apply and qualify for the SBA loan up to $25,000. There is normally a $295 Technical Assistance fee charged for various services CFT provides when assisting with the SBA loan, but as a member in good standing, there is no fee.

Q: Can I establish a Business Line of Credit regardless of my personal or business credit?
A:
CFT will give you a $5000 business line of credit to start your business. This is a line of credit that is reported to the business credit bureau as a “CASH” line. It is not based on personal or credit. $1100 of this LOC is used to pay for our 11 month program. This line of credit can be used to purchase other CFT products and services. It also can be used as a financial line of credit when you apply for other cash credit lines for your business.

Q: When is this line of credit reported on my business?
A:
We report the $5000 line of credit once you have shown at least 4 monthly payments on the loan. The monthly payments are $97 per month. It charges no Interest fee, but will charge a $15 late fee if not paid on time. It will also report if you default on the loan.

Q: If I cancel my account will I still have to pay back the loan?
A:
If you cancel your account after 4 payments, we will issue a credit for the balance of the loan and still report the loan and your payment history. You will not be entitled to a refund. If you cancel before the 4 payments, we will cancel the loan, not report the loan and you will not get a refund of the payments you have made.

If you need immediate assistance, the following option is available:

The most direct way to obtain assistance with starting your business is to fill out a Service Request Form and schedule a paid 30- or 60- minute consultation with Iris Carter, which is normally scheduled within 24-48 hours. Who is Iris Carter?

Q: Is Iris Carter available for one-on-one?
A: Yes at $500 for 60 minutes or $295 for 30 minutes, she will provide any of the following:

  • Review of business and/or marketing plan for submission to lenders
  • Verbal discussion of the Business Evaluation
  • Verbal discussion regarding a lender denials and recommendation actions (what to do to fix the problem for approval)
  • Assistance with review and writing of supporting documents needed by lenders to assist with approvals
  • Discussion of your particular strategy to determine the best direction for your business’s greatest funding success
  • Discussion of your personal credit solutions in more detail to improve chances of getting funding approved
  • Participate in a phone call between you and the lender to determine the rationale for a declined loan request
    and other business related topics of concern

Q: What Corporate Fast Track does not do?
A: CFT’ does not guarantee any loan approvals or approval amounts. It only guarantees the loan of $5000 that CFT provides.

Q: Why should I have a Separate Business Profile when I start my business or if already in business?
A: You should have a separate business profile so your business can apply for its’ own credit and evidential support itself without having to always rely on using your personal credit.  Obtaining a separate business profile gives the business the ability to obtain financing under the name of the business entity based on the assessment of the business. In today’s financial industry, it is not uncommon for lenders to “ask” for your social security number to verify who you are. The Patriot Act (link) requires this information.  Requesting your social security number does not always mean the lender is “using” your personal credit to “approve” your business credit.

Q: How does Corporate Fast Track assist business owners in building a separate business entity/profile?
A: CFT assist business owners in building a separate business entity by signing them up for the Fast Track Business Start-up program. This eleven (11) month program that allows CFT to evaluate their current business structure (if one exist) and assist with making the business compliant and the business has the requirements to be viewed by lenders, vendors and suppliers as a business with its’ own identity. CFT provides an eleven (11) month training program that teaches its’ clients using various online tools, videos/instructional videos, conference calls and other documents that are in it’s members area, to accomplish this goal.

Q: Can I obtain corporate credit without a personal guarantee?
A:  Many people ask this question.  The answer is YES, provided you have the all the criteria the lenders are looking for. This is just a quick list of what you will need. Your business must have be at least 3 years old. It must have some good credit established on its’ own and reporting for at least 2 years with Experian, Equifax and D&B.  You must be able to show the lender that you have the ability to repay the loan. This may mean an established relationship with the lender, a savings and checking account for the business, providing a balance sheet and profit and loss statement, as well as, in some cases a business plan. This is a limited list, in some cases more or less may be required. We will show you how you can get to this point, but it is a process that begins with building a credit file for the corporation, getting a D & B number, obtaining the required rating and scores, and paying your bills to build a positive history that the bank can review. We have several national banks that we have relationships and as part of one of our training modules in the member’s area, we talk about those banks and what they require.

Q: There are many programs on the Internet like this…. How is yours different?
A:  We tell you the truth. If we feel you are not right for the Fast Track Business Start-up Program, we have NO PROBLEM letting you know and offering to cancel your membership and not charging you for any future months. It is not only up to you to decide if the program is right for you, it is also up to us. Yes, you can always cancel at anytime, but we can also cancel you if the program is not a good fit. We don’t just want your money; we really want to help you. This is why we are the “first” in offering the building the corporate profile service through our Business Start-up program. We have been in business since 1996 with no complaints with the Better Business Bureau. NO OTHER Credit or Business Start-up program can make that claim!

Q: What do I get for my money?
A: You’ll receive:

  • Up to $25,000 SBA loan processed within 30 days of signing up for the Fast Track Business Start-up program (we do not guarantee loans)
  • $5000 Business Line of Credit to be used with Corporatefasttrack.com (reported to business credit bureaus after 4 payments)
  • A written Business Evaluation, a $497 Value, that determines what your business needs to be credible and start the business profile
  • Extra Month Free (that’s 12 months) access to the members area
  • Investigate and determine if  business has any “Red Flag” areas that need correcting
  • Assistance with how to  “successfully” apply for and completing a Dun & Bradstreet profile and acquiring a DnB number.
  • Assist clients on how to develop a Paydex/Intelliscore of 75 or better based on payment history with trade references. (Module that teaches how to add trades to Experian.com & DnB)
  • Twelve months access to training area, which includes free coaching for your specific problems you may have or experience while implementing the program via our support area.
  • Free reviews of completed processes “before” you continue to the next module. We want to make sure everything is correct as you go through the process.
  • Free access to “Live Web Broadcasting”calls and email notices that keep you  up-to-date on changes in the financing industry and discover even more ways to leverage your credit
  • Coaching via “Video Conferencing” discounted fee for members. Limited to 15 participation per coaching call.
  • Two other bonus gifts worth almost $1,500
  • Certificate documentation that evidence a separation between corporate credit and personal credit. (This special documentation can be submitted with loans to assist with better approval rates)
  • An absolute guarantee that that the Fast Track Business Start-up Training Program, when followed correctly, will deliver the strength and flexibility your business needs

Get Started No MONTHLY PAYMENTS REQUIRED NOW… GET STARTED using our Fast Track Credit Builder program!

 

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