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Many small SpiderMan could benefit from having extra capital available 1955 Topps baseball cards free up their cashflow, but unfortunately most will never know that they can establish and Millie the Model business credit for their business without using their personal credit.

There are 3 critical things that any small business can do to make sure they are building business credit.

Watch Out For "Business" Credit Cards

Don't apply for credit cards that say they are "business credit" cards, if the application asks for your personal information such as your social security number. This is a dead give-away that it's a personal credit card in disguise as a business credit card.

Prepare Your Company's Documents

Make sure your small business is setup properly from the beginning. That means having your articles of corporation filed properly with the secretary of state in the state you do business in, as well as filing with the IRS for a Tax ID number (sometimes called an EIN number). These pieces of information are critical to filling out a true business credit application.

Get Your Company Listed Properly

Make sure your company is listed with business credit reporting agencies such as Dun and Bradstreet. You can visit them at dnb.com and see if your company is already listed in their system.

Establishing and building business credit is the most important thing you can do to help grow your business. Following these critical steps will help ensure you are able to properly build business credit.

Having these things in place for your small business prior to applying for a business loan or line of credit can mean the difference between being approved or being denied.

Want more info about how to Establish and Build Business Credit? I'll give you a FREE subscription to my world-famous, no hype business credit mini course, Just for visiting me at my Business Credit Website.

// posted by yemdgptoe @ 7:11 AM 0 comments