Author: Catherine Tardy

Building business credit is a key component of the creation of any business. So when first starting out, entrepreneurs often ask their friends and family to invest in their businesses, and they also will draw heavily on their personal funds. That kind of investment might be the easiest to get, but it’s also usually a limited pool (unless your uncle is Bill Gates or Warren Buffet). Eventually, you’ll need to get banks and other credit companies involved.

This is what you’ll need to do to convince someone that you’re a good investment:

  • Write a business plan. There are websites and apps out there that will help you do this and make it look professional, but you’ll still need to make sure that it’s well written. Get one of your friends that was an English major to help you out by reading it over (and maybe give them a couple of bucks for their trouble). It should be more than a few pages but less than a slew. It needs to include some detail and thought about:
  • Have your paperwork up to date. If there are licenses or registration that your business requires, you absolutely need to make sure that everything is up-to-date before you seek additional funding. If you don’t have the licenses and other paperwork current, that’s a huge red flag to a lender that you may not be responsible with their money either.
  • Pay on time. Another thing that lenders are going to look at when making decisions about your business credit is your previous history. As you pay your bills on time and monitor your cash flow properly, your credit score will rise.
  • Product(s) or services
  • Pricing
  • Estimates
  • Competition and other obstacles
  • Basis for your cash flow projections
  • Your business structure

There is something that we can directly help you with on this score. We will review our client’s financial statements before they send them to the bank or lender. We make sure that they give an accurate view of the financial health of your company. If you need additional advice or just assistance with business credit or finances in general, you should consider calling us at (505)255-1617.

Catherine Tardy, is a CPA at Tardy & Co., PC. As a consulting accountant, she helps startups, small and midsize businesses plan out and establish or expand their companies.

Catherine Tardy, CPA
Tardy & Co, PC.


Balanced Scorecards – Measuring to Understand MORE

Most small businesses start out relying on intuition.  Their gut told them to do this thing they love for a living.  Their passion circumvented the risks and challenges.  They checked the bank account balance every day to be sure they have enough...

Typology and your business

Author: Victoria Silva Wilger Typology is the study of systematic classification of types that have characteristics or traits in common. Typology can be used across all industries and disciplines including theology, anthropology, psychology, politics, education,...

What to look for in your Mentor

As a long time mentor, please allow me to share some thoughts on mentoring.
I have loved living my life as a serious, successful, and serial entrepreneur. I have been fortunate in finding the perfect mentor at the most needed time. I was willing to watch, listen and learn.

How to make an impact

Alice Waters, the founder of Chez Panisse restaurant in Berkeley, California, didn’t plan to revolutionize the way people cook, eat, and think about food. But in 1965, when she returned to the U.S. from France, she did know what she wanted. She wanted food that was fresh and that tasted good—like the food she had eaten in France.

How to choose the best health mentor

Medicine as a path to health has changed over time, and in recent years we have come to understand that traditional medicine is not getting us the results we want. Everywhere we look these days we are told, “Call your doctor, call your doctor . .