Would you like to get business credit for your EIN, that's not linked to your personal Social
Security Number? Well I'm about to reveal to you exactly what you need to know to build business
credit that requires no personal guarantee and no personal credit check. I'm going to show you
how to get business credit even as a startup business even if you're in a high risk industry.
I'm going to show you how to build business credit without having any collateral without
needing any cash flow and regardless of consumer credit quality, I'm going to show you the starter
vendors you need to use to initially start your business credit profile score and how
to build your business credit to get all kinds of credit including fleet credit, computer leases, cash
credit, even being able to get credit at almost all major retailers. I'm going to sprinkle in some of
my best tips and tactics along the way to help you get the highest approvals, and if you stick
around to the end I'm going to get you access to our business credit building guide that's
been downloaded over a million times that gives you even more in-depth step-by-step information
to build your business credit, we've got a lot to cover so let's dive in and get started.
So when we talk about business credit, we're talking about credit that's obtained in
your business name, without being linked to your personal social, so this is basically
a credit profile that's linked to your EIN that's separate from your personal credit profile that's
linked to your personal Social Security Number, a lot of benefits by building business credit
first of which, it's a way to get money even as a startup even an existing business when you can't
get any other kind of financing. Look for almost all other kind of financing you need to have
cash flow credit or collateral to get approved but you don't need any of those with business
credit, as a matter of fact, you can oftentimes get business credit when you can't get any other kind
of financing. Even if you can qualify for other financing business credit's the key to getting
the most money at the best terms, look all lenders credit issuers are pulling your business credit
profile and score to determine, if you should be approved or denied, how much money you should
get and the rates and terms you should pay. So if you want to get the most money the best terms
business credit is the key to making that happen, plus with business credit you're able to get very
high limit revolving credit card accounts, I mean I'm talking about being able to get $10,000 limits
30 to 60 days into the business credit building process, and being able to get 20, 30 $50,000 limits
6 months into the business credit building process. And you can get this at almost all sources
that offer regular consumer credit so almost every retailer that offers consumer credit cards
actually offers business credit, from stores like Sam's Club, Costco, BP, Chevron, Sunoco like fueling
stations, all the way to Office Depot, Staples, Home Depot, Lowe's even Nordstrom, and Macy's
offer business credit as well as also Walmart, Amazon, I mean I could run out of retailers but they
almost all offer this kind of credit without a personal guarantee, without a personal credit check.
Plus it's really easy and fast to get approved, you can go from having no business credit to
establishing a business credit profile score and getting real revolving credit within only 30 days and
it's just as easy to get approved as it would be a normal credit card. But one of the most important
reasons that you need to build business credit is because one it separates your personal business
liability you're not personally liable for your business debts, it gives your business the ability to
fund itself and it really gives you a good reputation. Your business credit reports are seen by lenders
credit issuers but they're also seen by suppliers, competitors, prospects clients, potential investors,
it's publicly accessible information. So with a credit profile that anybody that wants to can see
you really need to focus on building your business credit, not only just to become more lendable
but to give your business a better reputation as well. Now that we've talked about what business
credit can do for you how do you actually build business credit, well the very first step
is something that you might not even think about it's actually improving your findability, look
all lenders and credit issuers have a secret set of criteria you must meet to get approved .
If you don't meet this criteria you oftentimes get that dreaded message that you'll hear by
mail in 7 to 10 days whenever you apply that means that they manually underwrite the
file and almost always deny, okay but if you meet the fundability requirements this is where you get
automated and immediate approval. So what's in this fundability criteria well there's over 125 factors
that tie into fundability, but some of the basic ones are you need to make sure you have a
business address. Stay away from PO Boxes stay away from UPS addresses, try to even avoid home
addresses, you need a real physical location your location or try a virtual address instead. You can get
a virtual address at creditsuite.com/virtual or you can go to any number of different sources
Alliance, Davinci, even Regus offer these kinds of business addresses. Get a business phone number,
never use a mobile phone or a home phone as the phone number for the business on an application,
and make sure that your business phone number is listed with 411 this is one of the basic
requirements. The starter vendors have a lot of starter vendors so you need to make sure that that
business phone number is listed in 411 and that it's a toll-free phone number. Set up a website
for your business and an email address make sure that they're congruent, so my email address is
info@creditsuite.com our domain is creditsuite. com so you want to get your domain and make sure
that your email addresses are congruent with that domain, you want to stay away from Gmail, AOL
type of email addresses, you want to avoid that at all cost. If you can get a business license in your
industry and you're counting your state get one. There's one source I'll tell you about a little
bit later they'll give you a $2,500 credit line just because you have a business license, so if you can
get a business license make sure you get one make sure you set up your business entity before
you apply for business credit. Business credit's built for your EIN not your social, so you've got to
get that EIN for free from the IRS, and you can do that at irs.gov to even start building business credit
and before you jump into the next steps you want to set up your business bank account as well, no
they're not going to verify your bank statements but they'll oftentimes ask
you for a bank reference which you won't have if you don't have a business bank account set up. So
like I said there's over 125 factors at time to fundability if you follow or other trainings we'll
talk about many of those but those are some of the core fundability aspects you want to work on
building and improving before you get to the next business credit building step. Once you've improved
your fundability then it's time to start getting real usable credit and this is done through what
we call starter vendors. Now there's a shortcut but Ii'll tell you about that in just a couple minutes.
So starter vendors are vendors that do two very unique things, first of all they'll give you credit
even when you have no credit reporting now, okay a lot of vendors that will offer business credit
especially without a personal guarantee credit check they make sure that you have a credit
profile established before they'll give you credit. Well that will help you if you're just
getting started so starter vendors will give you credit when you have none and they report
the credit they give you to the business credit reporting agencies, very important over 97%
of vendors that issue you credit do not report the credit to the business credit reporting agency.
So we've got to find vendors that will give you credit when you have none, and actually report the
credit now these are called starter vendors, and one of my favorite starter vendors is Uline. Uline
reports to Dun and Bradstreet and Experian they'll give you credit when you have none they
report to the business credit reporting agencies, as I mentioned D&B, and Experian so it gives you
2 payment experience the payment experiences the reporting of an account to a reporting agency. Well
Uline gives you 2 because they report to D&B and Experian. Now in order to get approved you
need to have a business set up you need to have an EIN number you should have your DUNS number
set up with Dun & Bradstreet, you need your business address your business phone number
set up your phone number needs to be listed with 411 and they'll often times ask you for a bank
reference as well. So as long as you meet that criteria you can get approved with Uline and all
you have to do with any of these vendors is go to their website find stuff you want put it in your
shopping cart set up an account online with them and then they give you some kind of option like
invoice me that you select upon checkout, and then once they notify you they've shipped the items
so congratulations, that means you're approved. Now if you're not getting approved as I go
through these vendors then the reason is is your fundability is messed up, so you got to improve
your fundability to be able to get approved for these starter vendors. Now another starter vendor
is Crown Office Supplies. Now Crown Office Supplies reports to Dun & Bradstreet, Equifax, and
Experian, and they sell like all kinds of office supplies Uline sells shipping supplies so all kinds of
stuff you probably are using right now that you could start getting on credit
while building your business credit. Crown office supplies is the same way they sell
a ton of products through their online marketplace or online store other office supplies that you
could use to grow your business and you get 3 payment experiences because they report to D&B,
Equifax, and Experian very much the same thing on all these vendors and what they're looking for
DUNS number, entity setup, EIN number, business address, business phone number set up as well
and when you meet those criterias even if you can get a business license it helps you
then you can start to get approved, now yeah another third source that I want to tell you about
is Grainger. Now I love Grainger it's one of my favorite vendors to start building
business credit they report to Dun & Bradstreet but one of the reasons they're my favorite is
that they'll give you a $2,500 credit line just because you have a license. So if you can get
a business license for your company whether it be for your industry or county your state
then please do so because if so it helps you get approved with all these starter vendors, and even
more vendors that offer revolving credit you get approved with in the next tier which i'll
tell you about in just a couple of minutes. But with Grainger, you get a $2,500 credit line again
the approval requirements are very similar to what we've already talked about now yet another starter
vendor you can use to build initial business credit is WEX fleet, and a WEX fleet card you
can use for like major fuel stations to get fuel for vehicles repair vehicles maintain vehicles
they report to Dun & Bradstreet, and Experian. Now you have a couple choices here when it comes
to getting fleet card through places like WEX you can either get approved initially as a starter
vendor and they'll ask you for a $500 deposit and a personal guarantee or you can wait till you have
about 5 to 8 payment experiences on your credit report then you can skip the guarantee
skip the deposit and get approved without both. So you have your choice of where you use
WEX in the actual equation now a shortcut if you don't want to use starter vendors is a program
called credit line hybrid, and with credit line hybrid you can get approved for as much as a
$150,000 dollars in credit lines with 0% rates for 6 to 18 months.
A lot of these credit lines report to the business credit reporting agencies so you build real usable
credit and get like 150,000 credit lines even as a new startup business but with credit line
hybrid you have to have good personal credit. So you'd have to have good personal credit yourself
or a guarantor that has one now 50% of the clients we use help with this shortcut are using somebody
else as a signer their credit's not good they're using a guarantor family member friend
potential investor whoever it may be, but whether it be you or a guarantor or somebody around you
you need a 680 plus FICO score how much money you get depends on the highest revolving credit
limit account you have, now how many inquiries you have on your credit report what your utilization is
if you want to take that shortcut and get approved for credit line hybrid, go to
creditsuite.com/getfunding that's creditsuite.com/getfunding and you can get approved
right now. So those are the first two initial steps of building business credit we got to
improve or build that fundability, then you've got to get a handful 5 payment experiences
from one of those two paths either using starter vendors or the shortcut of credit line hybrid, now
when you have 5 payment experiences on your business credit reports now it's time to move the
next step. So at this point, you should know about credit suite.com/monitoring if you
go to creditsuite.com/monitoring you can get business credit monitoring for only $24 here's why
this is important. Dun & Bradstreet, Equifax, and Experian credit reports will cost you $249
a month if you go to them direct. We want this to be really easy and cost-effective for you
so we've actually worked to get the lowest credit monitoring that exists anywhere in the world
24 bucks a month for you to get D&B, Equifax, and Experian you can only get it at
creditsuite.com/monitoring so go there to monitor your business credit reports that way you can
see this handful of payment experiences start to get reported. Once that happens then you can move
on to start getting approved for retail credit. Now retail credit is available like almost every
major retailer so Sam's Club Costco, Staples Office Depot, Lowe's, Home Depot, Amazon, Walmart even
Macy's and Nordstrom, almost every major retail or even Best Buy they all offer business credit. Now in
order to get approved for revolving credit cards with these sources, you need to have at least 5
payment experiences now I stress at least because some of them want you to have 6 I want you to
have 8 some of them want you to have 10, but when you have 5 you can start to get approved
for retail revolving credit cards with almost all major retailers. Now why that's a big deal
well think about it what what do you spend money on your business I can tell you here at Credit
Suite we spend a ton of money on Walmart or Amazon. We use our corporate credit cards for that,
so a lot of the money you may need to grow a business you don't need a credit line you don't need
a loan you just need credit at these major retailers places like Amazon or Walmart or if you're in
the transportation industry you need fuel cards like uh BP, Chevron, Sunoco when you have a
handful of these payment experiences you can get retail credit. When you have about 8 accounts on
your business credit reports then you can start to get to those gas stations Conoco, Sunoco, Pilot
flying J almost all major fuel stations will offer you no personal guarantee no credit check no deposit
revolving credit cards you have 8 accounts in your business credit reports. And then the final
tier is like 14 accounts, when you have 14 payment experiences on your business credit reports and
at least one of those has a $10, 000 high limit then you can start to get approved for computer leases,
Apple, HP, Dell you can get approved for auto financing, Ford, Toyota, GM, Ally, you can also
get approved for cash credit, Visa cards and Mastercard like Bj's MasterCard for example
that you can use anywhere and that's the final tier once you've hit 14 accounts you can start
to get all that money without a personal guarantee without a personal credit check
you could basically use the business credit profile and score you've established for your
business to actually fund itself. Now one extra tip I want to throw in is you got to actually use the
credit that you're getting, I see a lot of people try to shortcut this process and they just want
to get vendors to get to the next step and just want to get retail credit to get to the next step.
The problem is is that if you want higher limits you've got to use the credit you're actually
getting like credit issuers that will give you future high approvals are looking at how much
you're spending on the approvals you already have. So if all you do is spend $100 on every credit card
you get nobody's ever going to give you 10 $20,000 limits but if you're getting credit with
sources you're actually really using to grow your business, then you're using the credit then other
credit issuers see you're using a thousand bucks 2,000 $5,000 and they'll give you really high limit
approvals after this, you got to use this credit on a regular basis to continue to get higher and
higher limits to grow your credit profile and score. So that's it those are the steps to build
business credit for your EIN that's not linked to your personal social how to get the credit without
the personal guarantee and without the personal credit check. The one final tip I want to give you
is that when you're applying for revolving retail credit they're going to ask for your Social
Security Number if the credit card you're being issued is issued by major banks let me give you an
example Office Depot and Staples are underwritten by Citibank, Citibank required by the government
to verify the identity of anybody opening up a new account with them. So you have to make sure if
you ever supply your social you're not authorizing a guarantee you're not authorizing a personal credit
check or they'll check your credit and that's your personal guarantee you want to make sure
you're only giving them that information just so they can actually verify your identity as
they're required to by law. So now that you know the steps to build business credit if you want
the details of the steps go to creditsuite.com/einguide that's
creditsuite.com/einguide if you got value for this make sure you like and subscribe and
you're entitled to a free consultation with us we'll get your Dun & Bradstreet, Equifax,
and Experian business credit reports for you for free, we'll give you tips and tactics to build your
business credit we'll do a fundability assessment to see what needs to be fixed or improved there,
and then we'll also do a funding qualification we'll tell you all the loans and credit lines
you can qualify for right now, so if you want that free consultation give us a call at 877-600-2487
that's 877-600-2487 or you can schedule your consultation online at creditsuite.com/consult.
Again don't forget to like and subscribe and I look forward to seeing you on our next
training we're talking about more cool ways to get money to grow your business.