How to Get Business Credit
Getting business credit is essential for growth. To get business credit, start by establishing a separate legal structure for your business, such as an LLC. Ensure that your business is registered with the right authorities and obtain your Employer Identification Number (EIN). The next step is to open a business bank account to separate your personal and business finances. This is crucial to building credibility with lenders and vendors.
Establish Your Business Entity
Register your business and get an EIN. Having a registered entity is the foundation for getting business credit. It acts as your business’s legal identity and sets the groundwork for financial transactions.
Build Relationships with Vendors
Start by building relationships with vendors that report to credit agencies. Paying them on time can help establish a positive credit history.