How to start a business with bad credit.
Are you ready to start your business but your credit is a disaster?
Well, I have been in that exact same situation where I had terrible credit.
And I needed to start a business.
So, you definitely can do it.
And I am going to show you how to get it done.
Let's go.
I'm going to share with you a detailed step-by-step process on how to start a business even if
you have the worst credit.
And I'm going to share with you the most important thing about starting a business with bad credit
mainly the one thing that you need to do differently.
And I'm going to share with you my biggest secret on how I started a multi-million dollar
business that I have now with terrible credit.
Starting a business is one of the smartest things you can do.
As an entrepreneur, there are so many benefits.
I used to work in corporate America and now I'm an entrepreneur.
In fact, I make millions of dollars per year and I run multiple businesses.
But I started from my parents' basement with no money and bad credit.
But now, I don't have that situation because I was able to turn it around as an entrepreneur.
As an entrepreneur, you'll be able to set your own schedule.
You can own your time.
You can decide when you start working and when you stop working.
Another thing that is so important is you get to decide how much money you make.
As an entrepreneur, you decide on your prices for your products and your services.
There's no cap on your income.
When you work a job, you have a salary.
And maybe you can work overtime or get bonus.
But as an entrepreneur, you get to set how much money you make.
There are years that I've made hundreds of thousands of dollars.
There's been years that I've made a couple of million.
And then there's been years I made even more than that.
Each year, I just keep growing and growing in my business.
And my income keeps growing and growing.
But that is my choice.
If I wanted to say, "Okay, I made a million this year.
I'm going to take it all easy.
And I only make a half next year", that's my choice.
I get to do that.
There's no one dictating to me how much money I can make or how much money I have to make.
I get to decide.
In other words, being an entrepreneur is truly all about freedom.
I like to say time plus money equals freedom.
And that's truly what entrepreneurship has done for me.
So, let me tell you how you can get it done.
So, the first thing that you need to do when you are building a business is you have to
set the business up.
Whether you have good credit or bad credit, you still need to set up a professional business.
Meaning, you need to get (1) your business registered with the secretary of state.
You need to get either an LLC an S-Corp or a C-Corp.
Now, Noelle is not a tax advisor or an attorney so I cannot advise you on what type of business
entity or structure that you just set up.
But I will say from my experience when I first got started with bad credit, and I started
a business, I always use an LLC.
You can get it registered (in most cases) in just one day depending on what state you're
in.
And it's going to range you anywhere from $50 to $500 again depending on what state
you are in.
But this is so important getting business registered with the secretary of the state.
Because I'm going to tell you some other things that you will be able to do later that you
won't be able to do if your business isn't registered.
The next thing that you're going to have to get (and this is absolutely free) is an EIN.
And employer identification number.
And again, this is absolutely free, through IRS.gov.
Once you have your business registered, you can go and get an EIN absolutely free.
This is so important because it will work like your business's social security number.
In fact, when you go to apply for business credit cards and business loans, you won't
use your social security number.
You will use your EIN, your employer identification number.
And again, absolutely free, IRS.gov.
The next thing, super simple.
A professional phone number, a professional email and a professional website.
Once you get these 5 things set up, you are far ahead of most people that have a business.
I can tell you there's so many people that just started a business or they just have
a website or they use Gmail or a Yahoo and they're not able to do all of the things in
the business that I am going to be able to tell you that you can do.
Yes, you can have a business and do hair or do nails or make-up or whatever it is and
just use Gmail.
But I'm going to tell you how you can unlock hundreds of thousands of dollars in business
credit if you do the things that I said.
And trust me, you can get all of those 5 things done in one day depending on what state you're
in.
I have students that really get their business set up in one day.
Just do those 5 things and then we'll get on to the next thing.
The second thing that you're going to need is a business checking account.
And this is so important.
So many people will have no idea of the importance of a business checking account.
A business checking account literally can unlock hundreds of thousands of dollars for
your business.
Just being able to show a couple of months of business bank statements, there are tons
of lenders that will lend to you even as a start-up business.
Most businesses don't even ever get a business checking account.
And this is why they are not able to take their business to the next level.
Once you have just the business license and the EIN, you don't even need the website and
all those other things.
I suggest you get them before you get the business checking account.
But even if you don't you can get a business checking account.
Now, here's where most people with bad credit get tripped up.
A lot of times, you cannot get a bank account if you have bad credit.
But there are tons of banks that will give you a business checking account with bad credit.
In fact, I have a bank called NorthOne.
I'll give you a link below.
NorthOne bank, and they can get you a business checking account really quickly.
And in fact, in less than 3 minutes, all online.
It's an amazing bank.
I absolutely love them.
And they do not necessarily care about your credit score.
It's ane easy way as a virtual bank to get a business checking account, quickly even
if you have bad credit.
Now, if you have really, really bad credit, the worst ever, I still have an answer for
you.
I made an entire playlist on how to get a business checking account with bad personal
credit.
I put it on YouTube and I'll put a link below for you.
It's absolutely free and it really goes into detail if you're not able to get a business
checking account with NorthOne.
But in most cases you should be able to and access your money all online through thousands
of ATMs.
It's an amazing situation.
Now, this is so important because like I said, there's lots of lenders that will lend to
you with just 3 months of business checking account statements.
I absolutely love this.
You get the business checking account set up.
You start putting money into that.
You set it up to some of the things that I'm going to tell you next.
And in a matter of months, you can have your business rolling.
The next thing that you want to get set up for your business (and this is super important)
is the ability to accept credit cards.
So, Paypal and Square.
You can get both of those accounts for your business so that you can accept credit cards.
This is so important.
No matter what business you have even if it's a real estate, you need to be able to accept
credit cards and checks and things like that.
You want to be able to accept payments, okay?
You're a business.
You want money.
And I feel like there are so many people that fail in their business because they really
don't set up a way to get paid.
And you want to do this before you ever even have customers.
You can set up a Paypal business account and a Square business account.
And they will even send you one of those little card reader so you can take cards right over
your phone.
This is so important.
Again, making sure that your business can accept payments will allow you to start asking
for payments.
If you have that little thing right there and you cans swipe a card, you are 100 times
more likely than someone who doesn't have to be able to start getting credit card payments
into your business.
Make sure you do this and you can do this even with bad credit.
The next thing that you want to do is you want to market your business.
You want to set up social media accounts for your business.
Not just personal accounts.
You want to set them up for your business.
Make sure your business has a Facebook and Instagram, a LinkedIn, a Tiktok, a YouTube,
okay?
Make sure your business has every single social media platform that there is.
And more importantly, you need to post on all of those social media platforms.
Now, I get it, when I first started my business, this is not something that I did.
And yes, I still made a ton of money.
But I am telling you if you are starting from a scratch where you don't have much money,
you don't have any customers and maybe even have bad credit, you want to take advantage
of all of the technology and the free opportunities that are out there for you.
I literally get so many customers, hundreds of thousands of dollars worth of customers
just from social media, okay?
This is an amazing opportunity that so many entrepreneurs are missing out on.
And they are wasting their time posting that have nothing to do about your business.
Use social media for what it is designed for.
It is media.
It's an ad agency.
You can post on social media as many times a day as you want.
I can post 5, 10 videos on YouTube if I want to.
And they pay me for my content, okay?
Instagram, no they don't pay you but you can put as many ads of your commercials, your
little videos, your post.
Those are your ads for your business.
And you can put as many as you want per day.
What I find is most people do not even use social media to ability that they could.
It's free.
You can post 4, 5 times a day every single day and get as many customers in your business
as possible.
Why wouldn't you?
It's free.
It's effective and it works.
Even with bad credit.
And then last but not least, you must start business credit.
Okay?
So many people take too long to go ahead and start building their business credit profile.
And this is something you can do at a very, very low cost.
And in many cases, absolutely free.
I've made an entire video series, a playlist on YouTube where I teach you how to build
business credit.
Make sure you watch that entire playlist because it will teach you how to build business credit
and unlock hundreds of thousands of dollars, even millions in my case of business funding
for your business.
This will allow you to grow your business exponentially faster than anybody else that
you're dealing with.
Most of your competitors have no idea about business credit.
And they don't even know the power of getting like a 25,000-dollar credit card and turning
that into hundreds of thousands of dollars for your business.
I know how to do that and that is what I am teaching you absolutely free.
So, make sure that you start building your business credit especially if you have bad
personal credit.
This will allow you (again) to not use your social security number when applying for things.
You will use your business's EIN number and it will have it's own credit profile.
Your business will become an entity.
It can borrow money and it will be responsible for that money.
Not you.
This is the key and you can build this quickly.
Get into it.
Okay, so please check out NorthOne bank.
I have put a link down below.
NothOne bank will allow you to open a business checking account even with bad credit absolutely
virtual.
You do not have to go into any bank.
And in many cases, you can get this business account set up in less than 3 minutes.
This is the opportunity that you need to take your business to the next level.
And this is truly helping people.
I just want to make sure that you have all of the resources, all of the tools and all
of the knowledge that you need to be successful.
This is Noelle, to your success.