Building Your Business Credit – Best Practices

August 24, 2018 By 0 Comments

Last week, we chatted with Charli Flanders and learned all about the basics of building up your business credit!

You can catch the full recap right here: https://www.crowdcast.io/e/bizcredit

Password: werkitbiz

Here were the key takeaways:

Cover the BASICS for CREDIBILITY:

  • Establish an LLC
  • Request your EIN Numbers from the IRS
  • Get a commercial, business address (not a P.O. Box)
  • Have a business phone number separate of your cell phone (1-800 or a Google Voice)
  • Have a business website
  • Setup an email address with your website domain (not a @gmail.com)

Build up our BUSINESS CREDIT one step at a time:

Tier 1: Create business accounts with starter vendors: Quill.com, VistaPrint etc

Tier 2: Apply for store credit cards under your business

Tier 3: Get a business credit card with one of the 3 major credit card companies (Visa, Mastercard or American Express)

Tier 4: Apply for an auto loan under your business

Tier 5: Apply for a business loan from your bank

See you at our next webinar!