I started an LLC and looking for financing but keep meeting raod blocks because of my personal credit. I am tiresome to establish business credit separate from my personal. I know if I can get early financing I can make the business work.
A right business credit card is a line of credit that is taken in the name of the business, under the business’ credit. Activity, whether excellent or terrible, is reflected on your business’ credit report through D&B and additional financial institutions, and the liability for any debts incurred and bills owed is with the business.But, some companies out there offer "business" credit cards which they require a person guarantee for. These institutions will often question for a personal guarantee, and will nearly always question for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts – you are.When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that questions for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business’ credit, while avoiding making problems with your own.
Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo. Search for "strong business credit" (just like that in quotes) to find services that sell the information.
Excellent luck,
Ilya Bodner
Small Business
Owner Early Underwriting Group
Go to http://www.score.org/ and in the upper left hand confront, penetrate your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor.
SCORE is a nonprofit association dedicated to entrepreneur culture and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).
SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.
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A right business credit card is a line of credit that is taken in the name of the business, under the business’ credit. Activity, whether excellent or terrible, is reflected on your business’ credit report through D&B and additional financial institutions, and the liability for any debts incurred and bills owed is with the business.But, some companies out there offer "business" credit cards which they require a person guarantee for. These institutions will often question for a personal guarantee, and will nearly always question for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts – you are.When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that questions for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business’ credit, while avoiding making problems with your own.
Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo. Search for "strong business credit" (just like that in quotes) to find services that sell the information.
Excellent luck,
Ilya Bodner
Small Business
Owner Early Underwriting Group
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