How to Build Business Credit Fast

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When you need to buy things on credit but you do not want to use your personal credit, you can establish business credit to make the purchases you need. Business credit may start out as office supply store credit and can eventually turn into business loans for real estate. Work smart and not hard, build business credit fast.

  • CREATE A CORPORATION - Create a corporation or LLC to begin establishing your business credit. Register your corporation or LLC with your state if required.

  • ADDRESS - Obtain a business address and phone number. It is best if your business address and phone number are not your personal phone number and home address. They should not be from a company that gives you a private address without having a location that you use. Always write your address in exactly the same way every time you apply for business credit.

    Order a business phone line and have it put in the local yellow pages in your exact business name.

  • TAX ID NUMBER - Apply for a tax ID number for your corporation or LLC. You will need a tax ID number to use in lieu of your social security number. Once you have one, you will not need to use your social security number to apply for credit, but you can use it if you need to or want to.

  • DNB - Sign up for business credit reporting agencies such as Dun and Bradstreet and Experian to help establish your business. Having a Dun and Bradstreet number is essential for applying for certain lines of credit and for loans.

    Using Experian will help you to keep track of your business credit.

  • START SMALL - Apply for office supply store credit cards first. They are the easiest to obtain. Apply slowly only one or two credit cards at a time. Wait a month before applying for more.

  • GAS CREDIT CARDS - After you have established a couple of office supply credit cards, start applying for gas credit cards. They are slightly more difficult to obtain and sometimes require an owner guarantee. If you do not want to use your personal information, just wait until your business credit gets a little stronger.

    Knowing how to build business credit fast will help you to protect your personal credit.

  • COMMERCIAL SUPPLIERS - After six months of established credit, you can start to apply for commercial supplier credit such as Lowes and Home Depot. Even if you do not need the items that they sell, you are trying to establish business credit.

    Start establishing your business credit today.

    If you need more information about building business credit, look in the resources section below. Knowing how to build business credit will help you get the credit you need.

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