Small Business Finances
I've been spoiled by the world of consumer credit and a good credit score. Need a credit card? No problem, here you go. Need a mortgage, car loan, etc...? No problem, here you go.
The small-business-with-zero-credit-history world is a little different.
I actually got turned down for a (Visa) credit card from Suntrust bank last week. (I had to wait a week for them to tell me that.) I was going to use that credit card to setup all my hosting services for Pudding. You can imagine how crushed I was when it was denied!!! I don't want to put the business expenses on my personal credit cards for obvious reasons!
The same day I got rejected for the Suntrust Visa credit card, I applied for an American Express card. They couldn't "verify my business name" through their online application so after a couple of days of phone tag I finally reached some one on the phone, and got it sorted out. I'm now approved!
Unfortunately, the card won't arrive in the mail for a while so I'm still waiting on that in order to get the Ataraxis Software and Pudding web sites up. I actually finished the "beta" site for Pudding, and created the (ultra-lame) placeholder for ataraxissoftware.com. But the ataraxissoftware.com site will have the "sign up for a beta" system in place. Something which I wish I had setup about 15 months ago.
I'm still waiting for approval on my merchant account, again I'm going with Suntrust. Hopefully, I'll hear back from them this week. That's really the final puzzle piece toward launching. (I still have to write the code to interface with the payment gateway, but I was going to do that during the beta testing.)
The small-business-with-zero-credit-history world is a little different.
I actually got turned down for a (Visa) credit card from Suntrust bank last week. (I had to wait a week for them to tell me that.) I was going to use that credit card to setup all my hosting services for Pudding. You can imagine how crushed I was when it was denied!!! I don't want to put the business expenses on my personal credit cards for obvious reasons!
The same day I got rejected for the Suntrust Visa credit card, I applied for an American Express card. They couldn't "verify my business name" through their online application so after a couple of days of phone tag I finally reached some one on the phone, and got it sorted out. I'm now approved!
Unfortunately, the card won't arrive in the mail for a while so I'm still waiting on that in order to get the Ataraxis Software and Pudding web sites up. I actually finished the "beta" site for Pudding, and created the (ultra-lame) placeholder for ataraxissoftware.com. But the ataraxissoftware.com site will have the "sign up for a beta" system in place. Something which I wish I had setup about 15 months ago.
I'm still waiting for approval on my merchant account, again I'm going with Suntrust. Hopefully, I'll hear back from them this week. That's really the final puzzle piece toward launching. (I still have to write the code to interface with the payment gateway, but I was going to do that during the beta testing.)
Labels: business_of_software
posted by Michael Sica at
10:18 AM
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