Where can I apply for business credit without using my personal info?

Question

I own a construction company and I am trying to establish credit for my business as well as find a legit credit repair company to repair my personal credit, my company pay taxes, we have the tax ID #, and we are incorporated. I have used my personal credit for my business as it has caused my scores to go down. Appreciated if anyone could help!

Answer 1

US banks and other lending institutions are required by federal law to identify all owners of a business account. Lenders are in the business of LENDING money with an expectation that it will be repaid, so they want to know who is handling the affairs of a business.

If you're too irresponsible to fix your own personal credit problems, why would you expect a lender to provide more money to you, even if you think you're hidden behind a corporation?

Repair your own personal credit... there is not a "legit repair company" which can do you any amount of good. And falsifying information on your credit report is a felony... so even a "illegitimate repair company" could land you in more trouble than you've already put yourself in.

Answer 2

I work for Dun & Bradstreet (the Business Credit Bereau). Many small companies secure everything in their personal name because they have never established business credit. When you apply for loans, credit cards, etc. they pull your D&B Report. If you don't have adequate Business Credit, they will personally guarantee it with your Personal Credit. As you said, this will lower your scores, and eventually you will look over-extended to lenders. 90% of Banks use D&B to make Credit decisions for business loans. You've taken the important steps in getting Incorporated, next you need to update your report and add as many references as possible. I work for D&B, so you can call or e-mail me if you want, and I'll help.

Joshuah Smith
800-825-3867 ext 5116
e-mail: [e-mail]

Answer 3

Tim--buck-to