AIPIS 102 - Ty Crandall - The Process of Building Business Credit

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Welcome to the AIPIS show for accredited income property investment specialists and those who desire to be. This is your host, Jason Hartman. We talk about increasing your income, your productivity and just generally having a better life while serving your clients better with America's most historically proven asset class income property. We have a great interview for you today and we will be back with that in less than 60 seconds. It's my pleasure to welcome Ty Crandall to the show. He is an expert in a, in something that I've long been interested in. I've done a show or two about it over the years. Just want to get one more guy off to hear more about the subject of business credit and how you can use this to buy income properties and invest in real estate and, you know, maybe do other things with it too as well. So we're going to explore that. Ty, welcome. How are you, Jason?

I'm great. Thank you so much for having me. I'm really excited to be here today.

Good to have you on. So, you know, when you say business credit, someone probably thinks, well, you know, I have a business of some sort and I want to get credit to expand my business. But a business could be an LLC that you form to buy real estate, right?

Yeah, absolutely. I mean, I think a lot of people have misconceptions about business credit. I think a lot of people go to apply for a quote unquote business credit card and think because they're approved that they actually have business credit. But when we talk about business credit, what we're really talking about, Jason, is just as you have a Social Security number and you have a credit profile that's linked to your social Real business credit, or sometimes referred to as corporate credit, is credit that's linked to your business ein number. So no matter what entity you choose, sole proprietorship or corporation, llc, you have an EIN number and business credit is ultimately building a credit profile and score for that ein number. So it's not linked to your personal Social Security number.

Okay, so why, you know, I mean, we've Heard these commercials, and frankly, they sound kind of like they're pie in the sky. You know, they're scammy, they're promising a lot of stuff that really doesn't seem like they can deliver on. And, and you know, they say things like this. They say, build business credit in 90 days and get, you know, hundreds of thousands of dollars in loans that nobody's responsible for. I mean, give us the truth about this.

Well, the truth is, is that your consumer credit was never designed to build a business under. And that's the decision a lot of us make. You know, statistically, the vast majority of people, almost nearly 80% when they go to build business, they're getting money from friends, they're getting money from family, they're using their own personal funds. And I think all of us have probably made this mistake in the past, but it's. The system isn't designed that way. Your personal credit really doesn't have the capacity that it should have to be able to handle business transactions. It was never designed to do so. So corporate credit, business credit, trade credit, this has really been around before consumer credit even existed. You know, Dun and Bradstreet, the biggest business credit reporting agency, has been a decade plus before the first consumer reporting agency showed up on the scene. So this has always been around. You know, businesses should have their own credit profile and score, not just because of the capacity element, but because of liability. You know, when you're building a business, the last thing you want to do is be personally liable if, for everything that happens in your business, especially if.

You don't but aren't with business credit, aren't you personally liable in a default? I mean, my understanding, Ty, is that this is the way it works. So please correct my, you know, any, anything wrong with this is that you can, you can take on more credit because it's, it doesn't show up on your personal credit report. But if you default, or if your business defaults, I should say, then you still are personally liable. You're still personally guaranteeing the debt, and the default will show up on your personal credit report. See, this is what bugs me about my Express Platinum card. Okay? I mean, we, my company, well, one of my companies, I should say, spends a fortune on that card. Maybe average, you know, 40, 50 grand a month. I think it's been as high as like $75,000 a month in the past. And it doesn't show up on my personal credit report, which I'd actually like it to, because, you know, we, we pay it off every Month. And I think it would be good to show that, you know, we're, we're borrowing a lot of, and paying a lot back and we're responsible about it. But no one would ever know unless I default and then it will show up on my credit report. So it seems like they're getting. That seems unfair to me. I'd actually like it to be the other way around.

Well, and that might make sense in some cases, but if you look at this, when you applied for that card, you supplied your Social Security number, correct?

Yeah, I'm sure I did.

So. So that's what creates your liability. When you build, you can still go out and you can get a real American Express car without even providing your Social Security number. And that's the difference between what we're talking about. So yes, when you're talking about business credit, some people will sign, will provide their Social Security number. Their personal credit is being looked at as part of the approval. And in those cases, sometimes those accounts report to personal credit. And in all times, you are personally liable. You are personally guaranteeing that debt, no matter where it reports. Real business credit, when built the right way is you obtaining credit without even providing your social. So this means personal credit is not even being looked at as part of the approval decision. So this means regardless of your personal credit quality, you can still get approved. But most importantly, they cannot under any condition pursue you personally. You are not personally guaranteeing the actual credit you're obtaining. So in worst case scenario, if you were to default, then they cannot report that on your personal credit report. All they could do was pursue the assets of the business and report it on your business credit report. Now speaking to.

So, so Ty, just before you go on. So we're peeling back the layers and we're distinguishing types of credit. There's personal credit. I think we all understand what that is. You know, just regular personal credit. There's, there are a couple kinds of business credit. There's the kind where you put your Social Security, you're personally liable. It doesn't show. It's like the American Express thing that I complained about. It doesn't show up on your credit report unless you don't pay, which I think is the worst of both worlds in a way. But if you want more credit, then I guess it looks better on your personal credit report that you don't have this other loan. So in a way that's beneficial. And then there's the type that you just talked about where it's completely separate and it's just the Business entity. Not you at all. Right? Not you as an individual at all. Is that correct?

That's correct. I mean, there's really three types of credit you have. You have personal credit, you have business credit, which is what we're talking about now. And you have a third kind of credit very few people know about, which is called bank credit. Banks have their own internal credit scoring and credit rating system for you as a business. So you are rated, they have a credit score. They will use that as one of the main drivers when you go to get into a bank loan, which is a whole different, maybe a whole different show. But when you talk about business credit, business credit is business credit. But there really are a few different kinds and we really refer to them is personal guarantee or no personal guarantee, PG or no pg. So if you're going to get a business credit card with a pg, that means you supplied your social, you're personally guaranteeing it. Now some of those will report to consumer reporting agencies, some will only report to business. But when you supply the social, you're providing that pg. There's the other kind where you don't supply the social, where you're obtaining credit not based on your personal credit history, but based on your business credit history. Your business itself is qualifying for the credit. And that type of credit doesn't require a personal guarantee. This is why you see, you know, companies like Walmart that have $50 million credit lines, you know, these larger companies, of course, their CEOs, their presidents, their owners are not guaranteeing that debt. And it's because the company has built enough credit to stand on its own. So the company actually qualifies for the credit, not the actual business owner.

Oh, of course, but those are giant companies. Everybody knows that. You know, when Jack Welch was heading up ge, he wasn't personally signing when they leased a copy machine. Right. You know, so that's certainly true. But does this really work for the regular, you know, middle and upper middle class person listening to our show that wants to develop, to use this credit to maybe invest in real estate?

I think one of the biggest misconceptions people have is exactly what you just mentioned. Well, yeah, they're big, so they have credit. It's actually quite the opposite. They got big because they use credit. So when you look at a company like Walmart, for example, 80% of what Walmart sells, they buy on credit before, and you pay for the item before they actually pay for it. So they'll go to Bounty, they have credit with Bounty. Bounty, they will buy paper towels Put them on the shelves, you'll buy the Bounty paper towels. They'll use the money you pay them to actually pay the creditor. This is how they become the biggest retailer of the world. So your larger companies build business credit because they kind of have to, to get that big. It's not that they got it because they're that big. And one of the things I do in a seminar is I show a simple example of this. The Mars company, Mars Bars, we're all familiar with them. You know, they have 22 Experian trade lines, but yet our clients, you know, four months into the process will have eight or nine. So that's pretty big. I mean, that's about a third as many as a massively huge public company because. Or privately owned company because they don't have. They haven't done a lot to establish their business credit. So any company can build business credit if you know the steps. Even as a startup, it's just you have to know the steps to do so.

Right, Right. Okay, so what do we do? And yeah, I mean, you. You seem to be establishing that this really can be done. It's not hype. People can go obtain credit without using their own credit report, and only the business will be liable. Is that what we're talking about?

Absolutely.

Okay. Wow, this is awesome. How do we do it?

Well, it's really done in a few basic steps. You know, the first thing to know is that just like you can't walk into Staples or your bank and get an initial credit card when you have no personal credit established, you can't do so in the business world either. One of the biggest mistakes I see is people say, hey, heard this guy on Jason's show. Sounds great. I'm going to go to Staples, leave my social off the app, and get approved. It won't work that way. The key to getting real business credit without providing your social is that you have to have business credit. So now, now we're in that catch 22. And I'll tell you how to get around it. The first step is to. You have to understand that when you're applying and leaving your social off the app, they're not looking at your personal credit. They're going to pull your business credit and see nothing. So this means initially they're going to scrutinize everything that's on your application. So before you apply, you have to legitimately have a business. You need to have an ein. You need to have an entity set up. You need a business address on the app, not personal you need a business phone number on the app, not a cell phone. You need a business email address. Not party dude 2015 at Yahoo.

Oh, come on. You don't want a finance party dude.

You'd be surprised. You'd be surprised. And that's when you.

Hang on, because I think that might be a sticking point that you just mentioned. Okay, not the party dude, but the business address. I mean, do you actually need a physical location or can your business address be a PO Box or the UPS store or, you know, mailboxes, et cetera? I don't even know if they're still around. I think UPS bought them, but whatever. You get the idea.

Yeah. Lenders use the same technology we do, and it tells them immediately if these things are home address, personal address, ups, PO Box. So here's the key. You need a physical business address, but if you don't have a physical address, then all you can do is you could basically rent one. There's companies like Regus, which is R E G U S, and there's many others out there that offer virtual addresses. So this is what you want to do. You want to. You're being scrutinized based on what's on the application. You want to see that you are a legitimate, credible, could be very large business perceived. From the credit issuer standpoint, that's really the first step. So if you don't have a physical address, then just rent one from a company like Regus and use that on your corporate documents on your actual.

Right now, I must say, you know, I've considered using Regis myself in the past for my companies, and it's, it's pretty expensive. I mean, you can, you can just, you can rent an actual space there that's real expensive. They nickel and dime me a lot. But you can just be a virtual tenant where they'll, like, receive mail for you and answer the phone and, and, you know, that'll still cost you, you know, 100, $200 a month. I think I'm certainly not up on their latest pricing, but I think when.

It comes to building credibility, Website, email address, phone. These things are cheap, right? These things are 10 or 20 bucks. You know, RingCentral's $15 a month, for example. So the most getting anything set up legitimately, I agree, is business address. And that could run as 100, $150 a month with a company like Regus. But that's kind of what you have to look at. It's not just a matter of having this. So you have the perception of Being a large credible company to credit issuers, lenders, but it also helps you have the same perception with customers. You know, we live in a, in a world today where people are looking at you on maps, where people are making judgments based on those type of things. So I, you know, it depends on who you are. It is $150 investment that is the largest part of sett, a business credit.

Okay, so, so you're going to spend 12 to $1,800 a year for that?

Yeah, for a virtual address, you know, and if that is the buy in to be able to get yourself into real credit that doesn't have a liability, especially when you're talking about literally like tens of thousands of dollars of real usable credit, then it might be a small sacrifice to get a big reward.

Right. Okay. Now you could probably have multi, you could have three entities or three businesses, and you could probably use that same address at Regis. They might work that deal out for you. So you might be able to amortize that, in essence, over a couple of entities. So. Okay, go on. It just sort of amazes me that a bank. Well, who, who makes the loan? Who, who is willing to make these types of loans? Is it your traditional bank? Are you going to walk into B of A or do you have to go some special places? Are there special lenders for.

You're not typically talking about loans when it comes to business credit. You're typically talking about business credit cards. So let's say you have a phenomenal business credit profile score, lots of trade lines, lots of high limits. You're going to walk into a bank to get a business loan. They're not going to say, okay, you're good, let's leave your social off. If you're applying for a $200,000 loan, they're still going to look at personal credit, but it would make it a lot easier to secure that business loan. Because what most entrepreneurs don't know is that they absolutely will look at business credit for your approval decision and deny you as a result. Even companies like On Deck, Right. That deal with very high rate merchant advances pull your business credit before they make the lending decision. So business credit is widely used, even a requirement for SBA 7 loans. You know, they'll look at your FICO SBSS score. So your business credit is being looked at when you go into secure loan. And having it established will really go a long way of helping you get that loan. Doesn't mean you're going to walk out with a $200,000 loan without a personal guarantee.

Okay, so in other words, what you're recommending is that the first thing you do, you establish your business, you have a real address, and then you start getting credit. Business credit cards. Right. Is that the method?

That's right. It starts with vendor credit. So in order to walk into a Staples, a Lowe's, a Home Depot, Walmart, they're going to need to see three things. You have trade lines, which are basically account that you're paying on that are reported to the business reporting agencies that in turn will give you a business credit profile and a business credit score, which are the second and third item. So if you have trade lines, credit profile and credit score, those three things are what's essential to walk into a best buyer, Amazon, to get a real, no personal guarantee business credit account. So you get those by what are called vendor accounts.

How do you get a vendor account? What's a vendor account?

Yeah, this is the secret sauce, really. When it comes to business credit building, it's not that much different than consumer credit building. Even the sources that issue the credit are much the same. But the difference is, is most people completely get stuck here. They don't know how to start it. So to start it, you get what are called vendor accounts, which are creditors that will give you credit on net 30 terms. Typically could be net 10, could be net 60, net 30. But these are not revolving accounts where you could put $300 on the credit card and pay $25 a month. This is where if you put $300 on the credit card, and it's net 30, you have 30 days to pay off the full $300. Okay. And, you know, the key is that you've got to find trade vendors that report to the business credit reporting agencies, because 95% of trade vendors don't report. And this is where a lot of people think they have business credit and they don't because they have trade accounts, but those accounts don't report. So some that will give you kind of a head start are Uline Quill. There's a company called Reliable Office Supplies. There's also another one called Lachlan and Associates. So these, for example, are vendors that will give you initial credit even if you have none but you.

So, okay, so here's the thing, though, Ty, and that's great. I love that you gave actual names. That's more than a lot of these business credit people give you. So. So Uline, I know that company. You know, they supply various containers for shipping things and all that kind of stuff. Right. But you have to actually buy something from Uline, right? You have to actually start using the credit.

Well, absolutely. But think about what your result is. You're trying to build a business credit profile in school, right? So in the business or consumer world, fundamentally, that process is the same. You go to a place, you get credit, you buy things on the credit, you pay the bill, the account reports. So that if you're talking about building a business credit in that. Right. It's the same as consumer credit. To make it work, you have to basically get credit with sources. You have to use that credit, you have to pay the bill and then those accounts report. But in the business credit world, we're not talking about large purchases here. So, for example, Quill, they sell office supplies, Jason. I mean, almost everybody I know that's in business needs pens and papers and some kind of office supply. So you can go to quill, buy $50 or more worth of stuff, just 50 bucks, and then you pay the bill as agreed, and then that account will report.

So, by the way, you know, it's so easy to use Amazon. Most people do. You'd mentioned Amazon before. Does Amazon do this?

Amazon won't work as a vendor account, but Amazon is one of the first revolving credit sources that our clients usually get approved for. So, for example, if you get a Uline at Quill, Lachlan Associates, if you get five of these accounts reported, usually it'll take 90 days for those accounts to report. Then Best Buy, Amazon, those are some of the very first actual retailers that will then give you true business credit without the personal guarantee.

So you do that. And what's next? What else do we need to do?

Well, the steps are you make sure that you're set up credible to get the initial vendor credit. Then you go to vendors, as we've just discussed here, these are very special vendors because they'll approve you if you have no credit established already. Okay. Just as long as you look credible on that application. So now you get five of these accounts. These accounts will report to the business credit reporting agencies. Dun and Bradstreet says it takes up to three reporting cycles, which is up to 90 days. So if you're monitoring your Dun and Bradstreet report or Experian report, you'll see these accounts start to report. Once the accounts report, you then have a business credit score. Then you have those three essential components we talked about. You have trade lines, you have a credit profile, you have a credit score. And then with that, you can then move on and take the next step. Of start getting real store credit. I'm talking about credit at places like Lowe's, at Amazon, at Best Buy to get started. Bp, Chevron, Walmart, Costco, Sam's Club. I mean, almost every major retailer will give you business credit. The only difference is some of them, like Staples, might require that you have 10 trade lines, while some of them, like Office Depot, might only require that you have five. So as you start to build, you'll be able to get approved with almost all major retailers. But in the beginning, Amazon, Best Buy, Walmart, Lowe's, these will be some of the ones you'll start with. And as you continue to get more and more credit accounts, then you'll be able to even get the harder ones to get, such as Staples. Okay, Once you have a total of 10 accounts reported, so it took you five vendor accounts to get to revolving store credit. Once you have 10 total cash credit account or total accounts including vendor in store, then you can move into cash credit. And then we're talking About Visa card, MasterCard that you can use anywhere. Discover is no longer in the game, American Express is. But you've got to have a lot more trade lines and depth to get an AMEX card. So you'll start with a visa and MasterCard, usually 5 or $10,000. Limits don't require a personal guarantee in total time. It'll take you about four to six months to get to that level.

Okay, so Ty, this all actually sounds plausible. I can't believe it. So congratulations, you, unless you're just telling us a great, you're spinning a great story here. This sounds like something you could really do. It sounds plausible to me. The listeners can make their own judgments. Of course. This is a lot of work. This takes time and attention and, you know, bandwidth. What about that? What does your company do? Do you make this easier for people somehow? What do you really do? Are you a guru who just kind of tells people all this stuff, then they got to go out and, and do it themselves, or is there some sort of service that'll kind of have a done for you type thing either.

Or, you know, I'm the kind of guy where, you know, I owned a mortgage company at the height of the mortgage industry and through the crash. So I got personally pushed about as close to bankruptcy as you can get without pulling the trigger. And when I discovered business credit, to be honest with you, Jason, I was angry. I was mad that this existed, that I'd never known about it. I considered myself a financial guru at that point and I really decided to Become an advocate to stand and scream at the highest mountain that this exists and to tell people enough information where they can do it on their own. So I like to give out a lot of free information to tell people this exists. And like you said, well, it seems plausible. I tell people all the time I didn't invent this. Right. Business credit's been around longer than consumer credit. It's just not as well known as consumer credit. That's the only difference really between the two. So our company, absolutely, we've got, you know, technology business coaches that help customers through every aspect of this. We've helped about nearing 10,000 people in the last four years build business credit and obtain financing.

But again, I assume, I assume that after the, you know, during the Great Recession when you saw a lot of people wisely, I'd argue in some cases just let go of properties and you know, do strategic defaults on various debts because, you know, the banking system just ripped off the American public and frankly the whole world. Right. You know, have you heard about Iceland? And so, you know, they've had their credit beat up and now they're looking for a solution. I assume business is probably pretty good for you.

Well, yeah, I mean, we definitely don't have a slow business, but you know, to me that's not what it's about. Look, if people want to work with us and have us help you along the way, that's fantastic. But that's not why I'm here. Why I'm here is to tell people this exists, exists and that, look, even if you don't use us, you can still do this as long as you follow this series of steps even on your own. You'd mentioned, hey look, I have this amex, it doesn't report on my consumer credit. I kind of wish that it would. That's kind of a rarity because you have to keep in mind that your FICO score, 30% of that score is utilization. So for an average business owner that does utilize a lot more than 30% on a business card and doesn't pay it all off, that can absolutely tank your personal credit scores, which could be used to get you higher level business loans. So you know, the key of business credit, there's a lot of it. One is to be able to get greater capacity, that you can get it much faster than consumer credit, that you don't have the liability. But another is that you don't have that consumer reporting, which is a huge benefit for most because you can use the credit as you see fit without having Any impact on your personal credit and without being judged that that credit's there when you try to go out and get things on the personal credit side.

Okay, so you talked about the agencies when it comes to the world of personal credit. Pretty much everybody knows about FICO scores. They know about Experian and TransUnion. And who's the other one now?

Equifax.

Equifax, yeah. Thank you. You know, we've heard about D and B reports done in Bradstreet. Is D and B or Dun and Bradstreet, the business credit agency? Are there more of them?

Well, there's a lot of reporting agencies the same as there's a lot of consumer reporting agencies that haven't been mentioned. I have an email that has 32 credit reporting agencies most people don't know about. But in the consumer world, you're right. TransUnion, Equifax, Experian are the main ones in the business world. Experian and Equifax Commercial are still players, but Dun and Bradstreet is the massive Goliath in the room. I mean, they have about, you know, 210 million records on file now compared to experience, 27 million. I mean, they're 10 times bigger.

So I have a whole bunch of entities that I haven't tried to get credit for. You know, I'm. I'm buying real estate in them. Some I'm loaning on real estate deals, doing other things with other ones. You know. Do they have a file at Dun and Bradstreet, these entities or. No, because I've done nothing active to try and create a file.

Well, it depends, you know, it depends on what you've done. You know, if they know about you, then they're going to create a file from you. So for example, they have a verified service that, that's out there that they'll make partially available for free and they'll charge you for aspects of it. That's whole purpose is just to get your information. They like anybody, just like the consumer reporting agencies. Their goal is to have every bit of business information on there. So there's a possibility they might. There's a possibility they might not. It's not just a matter of if you have credit on your business credit profile, public records will show up for your business. So if you've had tax liens, if you're involved in a lawsuit on either side of the lawsuit, those things will actually be mentioned. So it's a matter of they just like the consumer agencies have a lot of People that send them your data. And if any of those people have got ahold of your data incentives, they have a profile. But that doesn't mean you're going to have a score. Trade lines, those type of things unless you have credit with accounts that are reporting to them.

Yeah, okay, interesting. Very interesting, very interesting stuff. What else should people know?

Well, I think the most important thing to know is some of the things we already talked about. Make sure that you don't walk into a staples your bank and expect to leave your social off and get credit. The whole key to business credit is that for you to get the credit you want, store credit, cash credit, you've got to come in with that initial business credit profile score. You gotta follow those two steps. Making sure you're set up credible, getting approved with vendors, making sure those vendors are poor, making sure you do not include the Social Security number on the application and knowing that if you do, you are personally guaranteeing it and your personal credit is going to be used. Once you know that, then I bet.

A lot of those vendors will say oh no, you got to give your social.

Well, and a lot of them don't know any different. You know, it's not just vendors, it's store credit. You know, for example, we've had clients stand at the front desk of Macy, Macy's and Macy's tell them absolutely this is not possible. And then as they cycle through five managers to get to a regional manager, the regional manager says, oh yes, I'm very familiar with this. This is exactly how it's done. So you know, most front level people don't even know this is possible. They don't even know you can supply a credit report or a credit application without a Social Security number. You just have to in some cases, in those cases push them forward and force them to submit the application without it. And again, what they're going to do by default is pull the business credit report. If the business credit's strong enough, then you move forward and get approved. Which a lot of them aren't even aware that can happen.

Yeah, yeah, very interesting. So Ty, tell us about your business and really, I mean you alluded to this before, what it is you do. What are your offerings for our listeners? Do you have a book for example?

Sure. We've got a webpage credit creditsuite.com and that's creditsuite s U-I-T-E.come I n and if they go to creditsuite.comein we've got a step by step guide that walks them through in depth exactly how to build the business credit. It gives a lot more detail on the steps that I briefly talked about here that will walk them through the exact steps to build business credit.

So you have a website for that. What's the next level up where you do do people engage with you and what do they do? They hire your people to coach them as to how to do this?

Yeah, I mean, we kind of have two aspects. I think a lot of people come to us for free information. If you go to YouTube and type in business credit, you're going to find we're about 40% of that first page, including the first videos you'll see. So a lot of people come to us because we are so willing to give out free information on exactly how to do that. Then we also have a service where we do a few different things things we help business owners get business credit and all aspects of financing. So we have a product called the business finance Suite. That's an online system that clients can log into, go step by step through the process, guided by our business advisors that help them every aspect, every step of the way and finance officers that also help them with all aspects of business loans and financing of which many people are still not yet familiar with are available. So we help them with all aspects of building business credit financing. We are even in the business and the leaders in the space of helping people establish business credit and financing businesses. So even somebody that wants to take the next step of offering business credit and financing as a product or service, we also have a white label system for them to do that also.

Do you have an offer for our listeners? How much does that cost for that? What did you call that, that online service?

Well, we've got a lot of different options. You know, our main option that encompasses all of these where it's our business finance suite includes our business credit builder. It includes our business advisors for a year and our finance officers for five years and includes the whole package to actually be able to go out there and offer business credit and financing as a service and all the marketing and websites and everything that's involved with that. So our very top, top package that we offer clients is about $3,500. And if you have any customers that actually, or any listeners that actually want to come in and join us, us and that want any or all aspects of this, then what we'll do is we'll give them our top level package for our middle level pricing, which is $2,500.

So $2,500 for the top level package. What is the top level package called?

It is actually our VIP enrollment, so it's our VIP partner package. And the VIP partner package gives them their own business finance suite, which gives them all aspects of of the step by step system to build their business credit, make sure they're credible. We give them free access to Experian Smart business so they don't need to even pay for credit monitoring with us. We give them access to their free Duns number and help them get that set up, which saves them 800 bucks from dun and Bradstreet credibility. We help them with all aspects of getting the reports, understanding the reports. We have the largest supply of vendor sources, business credit, building sources to get the cash credit, the store credit, the vendor credit, all of that's there. And then it also they get access to our finance qualifier and our finance officers for five years. And that's another strength that we have because, you know, 98% of loans last year, according to the Department of Revenue in the business space didn't even come from conventional banks. They come from alternative lenders. So we deal with private investors, alternative lenders, sba, to offer all aspects of business financing, even when most people can't qualify at banks, so that's included. And then our entire partner package where they can actually offer business credit financing as a service. And they get like everything they would need to do at ebooks and email content, social media content marketing, flyers and websites, and all professionally done. So all of that's included in that top package?

Yeah. Interesting. Very interesting. Well, this sounds intriguing. I will say that it sounds like it's a lot of work now. It's something you really do have to pay attention to. You have to manage it. But, you know, most things in life are like that. So I'm not, I'm not saying that's bad. I'm just noticing it, you know.

Yeah. You know, one thing you want to keep in mind, Jason, is that, you know, you're business credit report's public record. I could pull yours right now if I wanted to. Cost me about $30 to do so. So, you know, this is something that should be front of mind with most entrepreneurs because, look, you know, other people, your competitors, your prospects, your clients, anybody who wants your business credit report can pull it. And knowing that that's the case, you know, it makes sense to control that perception, to control what they're seeing. Because even if you're not controlling it at lenders, credit issuers, and all these other people are looking at that same information that's being ignored. So you know, it's something to keep in mind.

Yeah, very interesting. Good stuff. Well, Ty Crandall, thank you so much for joining us and explaining this. This is quite intriguing and I just appreciate you being open about it and really giving our listeners a good bird's eye view as to what's involved. Thanks for joining us.

Thanks for having me.

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