1. Formalize your business. If you are a sole proprietor you and your business are the same and  the “business credit” you obtain is really personal credit. You formalize your business by setting up an Limited Liability Company (LLC) , corporation, not-for-profit or other formal structure.

2. Apply for a Federal Employee Identification Number (EIN). Obtaining an EIN is also necessary to separate you from y0ur business. You can apply for a free EIN for your business at www.irs.gov.

3. Get a business license if required by your state, county, or municipality.

4. Get a business phone line and get listed with 411.  Business lenders want to make sure they can talk to you directly.

5. Set up a commercial office location. This can be done inexpensively by using a virtual office, or shared office space.

It’s imp0rtant to lay the foundation of your business before attempting to get business credit, Business credit can be used

As a credit expert, I am constantly asked by business owners and entrepreneurs if I can help them establish business credit. The answer is…Yes! We are in the process of adding building  business credit education to our products. We are so excited! Stay tuned for more.