I started an online internet company in may 2007. So far we have built up several domain names, established and online and just got our EIN, federal tax id#, I need to know what the quickest way is to build business credit without using my personal fica score? Right now our business has no credit except for the net worth of our company, valajio networks!
What is the quickest and easiest way to start building business credit?
The best way to establish credit is to ask the people you wish to establish credit with. Go to a bank and ask them. They'll probably advise you to borrow some money on a 90-day note. You may have to put something up for collateral, including cash in an escrow account.
Reply:I assume you have a bank account in the company's name. Get income, pay wages, pay taxes.
Only a fool would loan you "business credit" at this time. Any and all credit will be based on your FICO score and will be underwritten by you. If the business fails, they will expect YOU to pay them back.
Reply:What about opening a secured credit account?
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