2006-07-21 05:05:45 · 5 answers · asked by SPIKEware 2 in Business & Finance ➔ Small Business
One of the biggest mistakes I made in business was not establishing a line of credit. To say that "if you make money you won't need it" is a mistake.
2006-07-21 05:23:26 · answer #1 · answered by Paul McDonald 6 · 2⤊ 2⤋
Get a small business AMEX credit card. Charge a couple things and pay them off quickly. You can also establish a line of credit at most office supply stores and then creditors can request a credit reference from these companies.
2006-07-21 12:08:43 · answer #2 · answered by pasoftballmom 2 · 0⤊ 0⤋
Building business credit is not a quick process - it takes time, normally around 3-4 years. Other than paying a company to do it for you, here are some ways you can build a business credit fast:
1. Register your phone in your business name
2. Get a business checking account
3. Register with DUN & BRADSTREET and get your DUNS Number
4. Find vendors who can give you lines of credit (start with Staples or DELL)
5. Apply for a business credit card - giving your business EIN instead of your SSN
2006-07-21 13:41:14 · answer #3 · answered by imisidro 7 · 0⤊ 0⤋
GET A BUSINESS CREDIT LINE OPEN TO YOU THEN BUY AND PAY OFF AND REPEAT THIS OVER AND OVERASABLISHING CREDIT FOR YOU
2006-07-21 22:27:58 · answer #4 · answered by Aaron J 3 · 0⤊ 0⤋
If you're making a profit, money will be coming in and you won't need to get loans. You need to find investments for your excess funds.
2006-07-21 12:10:43 · answer #5 · answered by Anonymous · 0⤊ 0⤋