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Establishing Unlimited Business Credit

Establishing Unlimited Business Credit, BJ Norman

In learning the techniques to establish unlimited business credit, take moment to absorb yourself in a fail proof method, designed to help you learn how to build your own business credit.  First, and foremost it is important to know that the information provided here is not based on what has been read or heard, via other sources, but based solely on 100% trial, error and success.

Step One: There a many aspects to starting a business, but first you need to consider licensing your business entity.  You can apply for your EIN number online or you may download the form and send it via snail mail

There are three main types of business types: 

1. Sole Proprietorship: A type of business that is owned or managed by one person

2. Partnership:  A legal form of business that is owned by two or more persons.

3. Corporation or LLC (Limited Liability Corporation) A legal entity with authority to act, and have liability separate from it's owners.

Here we will we focusing on the Limited Liability Corporation.

Step Three:   The process of establishing a limited liability corporation (LLC) is a very simple process, and we chose this type of business structure because of its simplicity.  This type of structure provides the owner a limited amount of liability for the debts and actions of the corporation.  There are also many tax benefits to establishing this type of structure.  You will establish this corporation so that you may begin to build your credit under the LLC, instead of using your own personal credit.

Visit your State Corporate Division's website to download the LLC forms you will need.  This can be easily done by using the following keywords "Virginia State Corporate Division (substituting your state)

Before completing the LLC form, you need to conduct a search for available names for your LLC.  Please be sure to read all pertinent information on the site, as some states are different from others.

     Once you have completed the form, you will then need to type up a form called an Article of Organization, which basically provides information as to who will be running the company.  After you have completed both forms, you will need to copy them and submit the requested fee, usually $100.00 to your states corporate division.  The application process will usually take about 30 days.

Step Four:  While waiting for your LLC documentation to return, you will need to open a business checking account.  Be sure to take all necessary documents regarding your business when opening your business account. 

Two type of account that can be used for business

1. A regular business account can be opened with about $100.00 at most banks, only requiring your business license and the fee. This type of account is recommended.

2. A DBA account Doing business as, can be attached to a regular checking account, and will allow you to cash and deposit your business checks.

Step Five:  You will need a business phone number listed in your business name.  A business listing is mandatory to your business credit building efforts.   Establishing your business listing will cause you to start receiving various business solicitations from various credit card companies.  If you are unable to get a standard business phone or listing, you may want to research information on remote call forwarding, and check with the company to see if they will allow that number to be listed.

Step Six:  Next, you will begin opening some net 30 day accounts, which are accounts that allow you to make a purchase and pay within 30 days.  The below accounts do not require very much verifiable data.  You will want to start by opening a minimum of 5 net 30 day accounts.  Make monthly purchases and pay those accounts in advance of 30 days.

  In learning the techniques to establish unlimited business credit, take moment to absorb yourself in a fail proof method, designed to help you learn how to build your own business credit.  First, and foremost it is important to know that the information provided here is not based on what has been read or heard, via other sources, but based solely on 100% trial, error and success.

List of Net 30 day Business Credit Accounts

http://www.uline.com  Order catalog online, place small order via fax, pay within 30 days

http://www.quill.com  Register and order catalog online, place minimum of $50.00 fax order, pay within 30 days

http://www.nebs.com  Register online, order catalog with this one I did a mail order paying 50% of my order and leaving the rest to be placed on account.

http://www.ShopAramark.com Register online, order catalog, Check bill me and fax your order.

http://www.reliable.com  Register online, order catalog, place order and pay within 30 days.

Step Seven:  Open the following Shipping Accounts

1.  http://www.fedex.com/us    2.  UPS shipping account

Making regular and consistent orders, then submitting payments early, over time will make this next step a lot easier.

Get an additional List of 22 other Credit Accounts for your Business for $5.00

Only $5.00 This $5.00 will help us to maintain and update this list to provide you with current information.  We thank you for your help.

Step Eight:  Applying for your Dunn & Bradstreet Account after 3 to 6 months of using your net 30 accounts.  Usually most of the the 30 day nets will have already sent in a rating on your account.  A paydex score is a score used to rate your business credit worthiness.  Visit http://www.dnb.com and apply for a D&B number.  This usually takes about 30 days, if you do not use the D&B business builder plan with cost at this time $400.00. 

Within 30 days you will received your D&B number, and most of the 30 day net accounts will have already begin reporting, giving you a pretty good paydex score.  Now, that you have your D&B account, you will want to use the list of 22 Credit Accounts above to apply for additional credit.

We thank you for visiting this site, and if you have contributed for your list of 22 Business Credit accounts, we will send you updates as we add or remove vendors from the list.

This article can be reposted as long as you include the authors by-lines.

Author:

BJ Norman, Work at Home and SEO Expert with more then 20 years of experience in the work at home industry. BJ Norman, holds an Associates of Computer Science, though Centura College, and currently working on her Bachelors of Business Administration.  She has provided work at home services and opportunities, as well as consulted on newly implemented work at home opportunities. For more information please visit http://www.newwork-at-home.com/wordpress or learn more about Starting a Business.

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