Start Building Business Credit Fast
What’s the best way to start building business credit fast?
If you want to start off fast and build your business credit file as soon as possible then this post is for you. We are going to cover five proven ways to establish credit in your company’s name while protecting your personal credit at the same time.
So, whether you need access to working capital, accept credit card payments, conserve cash flow or manage fuel costs; you can start building business credit fast with each one of these.
First, before you take action you will want to set up a separate legal entity for your business. Secondly, obtain an employer identification number (EIN) which is not only used for tax filing but also to establish a unique credit identity for your business.
It’s also crucial that your company is ‘credit ready’ meaning that it meets the standard requirements that banks, lenders, suppliers, retailers and vendors use as part of their credit decision making process.
By the way you can find more details on lender compliance in our post ‘How to Build Business Credit Step by Step’.
Here are 5 ways to start building business credit fast:
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