| One of the most important things in a business is | | | | Business credit bureaus are an important step. |
| getting credit. But how do we build a business | | | | Make sure you contact them, and open a file with |
| credit? | | | | them, the information provided is voluntarily. They |
| Not because you have a business, you | | | | are not the same as the personal credit agencies. |
| automatically have credit. | | | | The name of this companies are Dun & |
| Make sure that you separate all your business and | | | | Bradstreet, Experian Business, Equifax Business, |
| from all personal credit. The bank will always want | | | | and Business Credit USA, report your business |
| to make your loans personal, so they can have a | | | | credit history to them. This will give more chances |
| grasp on your personal credit. Make sure you | | | | for getting loans from banks when they look at |
| make the loan in the name of your corporation, | | | | your credit history. |
| LLC etc. Your personal credit will get affected if | | | | Get business credit cards that are not part of |
| you start using it to build your corporation credit. | | | | your personal credit. Apply for business credit |
| Identity is everything. To have business identity is | | | | cards from places like Staples, Home Depot, |
| the most important thing to do. You need to go | | | | Apple, Sam's Club, Costco etc. This report to the |
| to the IRS and get a Federal EIN number, that is | | | | credit agencies. Contact vendors and ask for small |
| like the social security of your company. Get | | | | credit. The more vendors you have the better |
| Permits on your business name as well as phone. | | | | for your company. Make sure you pay everything |
| The more things you have under your company's | | | | on time. If you have the money to pay the loan |
| name the better when the bank is looking into | | | | right away, don't do it, pay it little by little. This will |
| your business potential. | | | | give you more credit on the long run. Keep your |
| Maintain a balance on the bank for at least 3 | | | | credit profile active all the time. |
| month. The bank looks into your business | | | | It is not a complicated process it only takes time |
| statements. This is one of the most important | | | | to be build. Be consistent and you will build your |
| things. To keep working capital on your bank | | | | credit in no time. |
| account. | | | | |