I want to establish my business credit - what are some things I can do?
I started a business selling disputer letter templates for DIY credit repair. I'm in need of business funding but in order to get approved for vendors/store credits/cash credit, I first need to establish my business credit.
What are some of the easier tradelines I can get approved for my business? Are there any other steps I can take to improve my credit without personal guarantee?
To establish your business credit, you may first need to take the following steps:
1. incorporate your business or form an LLC (limited liability company)
2. get a federal employer identification number
3. open a business bank account
4. got a dedicated business phone line
5. register with Dun & Bradstreet to get a D-U-N-S number.
And I want to add that in order to build up your business credit without using your personal credit, you can apply for a business credit card. Use it on occasion and make sure to pay it on time. I suggest using a loan payments calculator to choose the best options (interest rates, your capabilities, etc.).