Introduction To Building Business Credit.
Business credit is obtained in the name of business using the business's E.I.N/Tax ID number.This is separate from business owners personal credit or social security number.Business credit is based on the company's ability to repay it's creditors obligations.A business will build it's business credit profile and score with the three major business credit reporting agencies Dun & Bradstreet, Experian and Equifax. With an established and strong business credit profile the business will be able to qualify for vendor accounts, revolving accounts, major credit cards, unsecured business credit lines and loans without using the owners personal credit.Here is a brief synopsis of the benefits of having business credit.By having business credit your business can grow far quicker than relying on personal credit.It can give the business extra borrowing potential in addition to using the owners personal credit.Businesses can obtain funding faster than relying solely on personal credit.Businesses also have a larger borrowing window than an owner using their personal credit.Here is some brief information how to get your business started and also below i have added links of a variety of different company's you can choose from that will accommodate you in building a successful business profile according to your budget at a very reasonable price.
Setting up a new business
To start the process of building business credit you must first understand that building business credit is a process and it takes time.Establishing and building business credit can take on average 4 to 6 months.When building business credit, you should never take short cuts.
This is the proper order you should follow when starting the process of embarking your business.
1. The name of your business.
2. The business address
3.choosing a business entity L.L.C, C-corp and S-corp.
4. Federal Tax ID number/ EIN number.
5. Telephone services.
6. Website & Professional Email Address.
7. Business compliance check list.
This is a complete list of legitimate businesses that will accommodate you in building your business credit and business successfully.
2. www.creditsuite.com/webinar Free business funding Consultation.
3. BRIDGEBUSINESSCREDITMN.COM get 5k to 500k Business credit E.I.N number only quick funding.
4. BADUENTERPRISES.COM Financial services.
5. wholesaleshelfcorporations.com Get up to $500k with aged shelf corporations.
6. NEWTEKONE.COM term loan sizes from $10,000 to $ 10 millon.Pay back terms 7 to 25 years limited or no prepayment penalties.
7. DELRAYFUNDING.COM Small Business funding.
8. SELFLENDER.COM Build your personal credit not business credit while you save.
9. cbaworks.org will walk with you step by step to help you start your small business.
10. creditsecrets.com will help you build personal credit & business credit.
11. www.navyfederal.org will help you build business credit.They are the largest credit union in the world with over 8 millon members.
12. www.corpcredit.net trusted business account experts will help you build business credit.
13. www.capitalone.com will help you professionally to build business credit.
14. www.howtogetbusinesscredit.com/course will help you build business credit with an easy to follow guide.
15. DNB.com provides a step by step guide to building business credit.