How Do I Establish Business Credit?
Establishing business credit is vital for any entrepreneur. The first step is to incorporate your business, and then get an EIN, which acts like a Social Security number for your company. After this, open a business bank account to separate personal and business finances. Use your business account to start building your credit with suppliers and vendors who report to credit agencies.
Register Your Business and Get an EIN
The first step in establishing business credit is registering your business as a legal entity, followed by obtaining an EIN. These steps are necessary to start building a legitimate credit profile.
Open a Business Bank Account
Separating your personal and business finances is essential when establishing business credit. A dedicated business bank account makes this easier and is often a requirement for applying for credit.