This page will
attempt to take you on a detailed step by step
process of establishing business credit, and
obtaining business cards.
Step One: There a many
aspects to starting a business, but first we
will talk about licensing business entity. You can apply for your
EIN number online or you may download the
form and send it via snail mail
Step Three:
The process of establishing a limited liability
corporation (LLC). This I found to be a
very simple process, once I decided to save my
$500.00 and undertake it on my own. A
limited liability corporation give you 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 corporation, instead of using
your own personal credit.
Visit your
State Corporate Division's website to download
the forms you will need. Before you begin
completing the form, you should be sure to do a
such from the site to be sure that the corporate
name you plan to use is available. This
can be done online for most states. Read
all pertinent information on the site, as some
states are different from others.
Once
you have completed the form, you will 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
request fee, usually $100.00 to your states
corporate division. The process will
usually take about 30 days.
Step Four: While
waiting for you 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
account.
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. Often times after you complete a
step, you will automatically be pushed into the
next step. Establishing your business
listing will cause you to start receiving
various business solicitations from various
credit card companies. An additional
option for getting a business listing is toe
call your local phone company and ask for
information on remote call forwarding. See
if they will allow you to have this set up using
your business name and cell phone number.
When you begin apply for credit you will give
them your remote number.
Step Six: Now we
are going to begin opening some net 30 day
accounts, which are accounts that allow us to
make a purchase and pay within 30 days.
The below accounts I will give you 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.
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.
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 $3.00
This $3.00 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.
