Pinnacle Business Credit

05/22/2020

05/02/2019

Thank you for helping me to reach my first 100 likes. Please share and invite your friends to like my page. There are so many Business Owners and entrepreneurs who can benefit from having the proper funding to start a new business or make an existing business thrive. With your help, I will reach my goal of 1000 likes/follows in the next 30 days.

05/02/2019

From Dun & Bradstreet… “It is unclear whether it is legal to use shelf corporations to access credit. It is clear, however, that this is a deceitful, unethical maneuver that serious entrepreneurs should avoid.” If the credit bureaus learn about the company being under new management, they will list it on their reports, effectively “re-aging” the company.

“Shell and shelf companies can be created domestically or in a foreign country. Shell and shelf companies are often formed by individuals and businesses to conduct legitimate transactions.

However, they can be and have been used as vehicles for common financial crime schemes such as money laundering, fraudulent loans and fraudulent purchasing. By virtue of the ease of formation and the absence of ownership disclosure requirements, shell and shelf companies are an attractive vehicle for those seeking to conduct illicit activity.” FDIC Special Alert, April 24, 2009.

04/30/2019

Shelf corporations are not looked upon favorably by regulators, lenders, or the business reporting agencies. Many say they are unethical, borderline illegal, and some call them a fraud.

04/25/2019

Many business owners think they have items reporting on their business credit reports that really aren’t reporting. But over 90% of trade vendors don’t report to the business credit reporting agencies. So chances are good that the negative information you think is on your report might not even be there.