Name: 5 steps to build your business credit.
Uploaded: 2023-05-11T02:52:21+00:00
Duration: 1 min 27 s
Description: 1. Form your LLC (Limited Liability Company) or S Corps or C Corp or Sole to ensure your company is seen as a separate business entity. You can do this with your state. (Legalzoom.com can help you) 2.

1 year ago

1. Form your LLC (Limited Liability Company) or S Corps or C Corp or Sole to ensure your company is seen as a separate business entity.

You can do this with your state. (Legalzoom.com can help you)

2. Obtain a federal Employer Identification Number (EIN)

This is done at IRS.gov, takes 5mins.

3. Open business bank accounts in your legal business name, once you get your documents for your LLC and your EIN number.
Use Chase or Bank of America (normally less requirements)

4. Set up a dedicated business phone line in your business name and make sure it's listed. Use a Brick-and-Mortar (Not required but preferred) and get listed on google maps.

5. Make sure your personal Credit is over 680 with no collections and low hard inquiries.

Bonus:

After your bank account is set up, wait a week, go back to your bank (walk in) and ask for a business credit card. You should get 5k to 10k limit on your new credit card.

Stop making this so hard.

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