What to Know About Business Credit

Today, most entrepreneurs don’t know much about business credit.

This is credit that’s linked to your EIN number, not your SSN. Since this credit is not linked to your EIN, it offers a ton of benefits.

One benefit is that a credit profile can be built for a business that is completely separate from the business owner’s personal credit profile doubling the borrowing ability.

Credit limits and capacity on these accounts is MUCH higher than with consumer credit. Plus, business credit can be built VERY quickly… an initial profile only takes 30-90 days to get setup.

When done correctly business credit can be built without a personal credit check.

And business credit can quickly be obtained regardless of personal credit quality. Plus,there is no personal credit reporting of business accounts.

Another bonus of business credit is that most business credit can be obtained without the owner taking on personal liability, or a personal guarantee. This means in case of default, the business owner’s personal assets can’t be pursued.

 It’s important to keep in mind that anyone can see your business credit reports, so having business credit makes your more credible for prospects, clients, competitors, lenders, credit issuers and those interested in buying your company.

 Almost any business can get business credit as long as it has an EIN number and entity setup. You don’t need collateral and financials. You can be a startup. You just need to know the proper building steps.

 Contact us today to learn more about building credit for your business!