Essential Steps
Build Your Business the Right Way with Essential Steps to Establish Your Business and Build Credit
Follow these essential steps to lay a strong foundation for your business and build its credit profile. These actions will help you operate professionally and improve your financial standing.
What’s Included
Inside Your Essential Steps to Establish
Your Business and Build Credit Service
Virtual Address Setup
Consider getting a virtual address if you prefer not to use your home or business address. This helps maintain privacy and professionalism.
Dedicated Business Phone Number
Set up a dedicated business phone number. It helps keep personal and business calls separate while maintaining a professional presence.
Obtain EIN from IRS
Obtain an EIN directly from the IRS at IRS.gov. It's free, quick, and essential for your business tax identification.
Register Your Business Entity
Register your business entity (LLC, S-Corp, C-Corp) with your state’s Secretary of State. Ensure compliance with state-specific regulations and get your NAICS code for registration.
List Your Business Online
List your business on platforms like 411, Google, and Yelp. Lenders often verify these listings when evaluating your creditworthiness.
Create a Professional Website
With an easy, user-friendly platform that includes built-in tools and a quick turnaround—so you can establish your online presence fast and start attracting customers.
Key Points
What You Should Know About
Building Business Credit
What You Should Know About Building Business Credit
Advantages
Separation of Personal and Business Finances: Business credit helps you keep personal and business finances separate.
Access to Business Loans and Credit Lines: A strong business credit profile can help you access loans and credit lines for growth.
Better Vendor and Supplier Terms: Having business credit can help you negotiate better terms with vendors and suppliers.
Important Considerations
Building Credit Takes Time: Establishing business credit takes time and consistent effort.
Monitor Your Credit Score: Regularly monitor your business credit score to ensure you're staying on track.
Keep Credit Utilization Low: Maintaining a low balance on credit lines can help improve your credit score.