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Does anyone on here have experiance with building business credit from scratch?


Antoine Skrine Orlando, FL

I would like to start a business and would preferably like to start building credit in my business name before I get it going. A lot of YouTubers cover this topic, but most are selling their services and do not go into detail on how this is done.

28 September 2021 4 replies Small Business



Samantha Kim New York, NY

Hi Antoine,

Thank you for your question. While I can't personally speak to building business credit, I found these articles that include some things to keep in mind as you enter the early stages of starting your business:

Additionally, I encourage you to utilize our "Community" tab to search for advisors who may be experienced in Small Business - they might have experience building their own business credit and could provide some pointers. I hope this helps!



29 September 2021 Helpful answer


June Webb Washington, DC

Hello Antoine,

The first step to building a business credit is to get an LLC with an EIN number under a certain state. You then get a bank account set up for under the EIN number and get a vendor for transactions that you do for you business. Get a physical business address and apply for something as small as a gas card under the business name and address. If you can support your business by funding it to lease a car under the EIN and write it off under your business you can build faster credit that way as well.

Your business is like another person and the EIN is the identity that you will use with your accountant to file taxes. After one year you can check into applying for other credit sources. I also find that vendors like Squareup and PayPal business track your transactions by algorithms and after a few months you can apply for a loan from them with no credit check required.
I am on LinkedIn if you would like to connect with me there.
Best of luck,
June Webb

13 October 2021 Helpful answer


James Watters Norman, OK

Staff Sergeant Skrine -
Here are two websites to explore
“How to Establish Business Credit That’s Not Linked to Your Personal Credit Score”. Click on the download now button and fill in the information.

Ways to Build Business Credit Fast …
1 Register your business entity. 2 Get an employer identification number (EIN). 3 Open a business banking account. 4 Establish a business address and phone number. 5 Apply for a business DUNS number. 6 Open credit lines with your suppliers. 7 Get a business credit card or business line of credit. 8 Borrow from lenders who report to business credit bureaus. 9 Keep business information current with the bureaus. 10 Pay all business bills and loans early or on time.

Good luck Sergeant

9 October 2021 Helpful answer


Jordie Kern Amherst, MA

From my experience, the banks will view your personal credit and expect you to personally guarantee any loans. What helped me when I started...

You need to develop a reputation as paying loans back on time.

As soon as you have an extra $500, $1,000 or more, go to your local bank and take out a business loan. Give them the cash as collateral. Then pay it back ON-TIME...make sure you stretch out the loan to at least a year. Pay about 15% more each month. So your month installment is $100, pay $115.

Also sign up for credit tracking service like Expedia. You may be able to contest some of the marks on your record.

There are tons of FREE resources on Youtube. You do not need to buy services to help you. Good luck!

23 October 2021 Helpful answer

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