How to build business credit like a boss
without using your SSN? Have you heard the big secret that you do not need to use your
social security number in order to build business credit and get business funding?
Well, you are absolutely correct. You can do it. I'm going to tell you exactly how. Let's go.
I'm going to share with you the exact step-by-step process for building business credit fast without
spending very much money in the process. I'm going to share with you the fastest way to get it done
today and you can start and have money in a couple of weeks. And last but not least, I'm going to
share with you the biggest secret that my student taught me on how to get over $100,000 in business
funding in less than a year. So, the awesome thing about business credit when we're talking about
building business credit is that there is a major difference between business credit and personal
credit. So, many of you guys are very familiar with personal credit. You know that there are
3 credit bureaus for your personal credit report. You have Experian, Equifax and Transunion. And on
those 3 personal credit bureaus, they will report all of your personal credit information, all of
the different cards that you have; if you have any credit cards, if you have a car loan, if you have
a mortgage, if you have student loans. Those will all be reported on your personal credit report.
But if you have business credit, none of those things will report on your personal credit report.
And that's what makes this absolutely awesome. So, when we were talking about business credit,
that is a totally different profile. And 3 totally different reporting agencies. So,
you have Experian business, Equifax business, and Dun and Bradstreet. Dun and Bradstreet being the
largest credit reporting agency for businesses. But the great thing about it even Experian
business and Equifax business, they do not report your personal items on your business credit or
your business items on your personal credit. Those are 2 separate entities and 2 separate profiles.
Your business credit profile is tied to your business or whatever business it is. It has this
EIN number and with Dun and Bradstreet, it has its own Dun and Bradstreet number. It has a D&B number
that you can get absolutely free. I'll share that with you in a second. So, what you want to make
sure that you know the difference between personal credit and business credit and you are already on
the right path to getting business credit. So, let's get to that part. So, step 1 when we are
talking about building business credit fast is you need to set up a business that can get funded.
You set the business up. And in many cases, you can set your business up in one day depending on
what state you live in. You want to register your business with the secretary of state,
you want to get an LLC, an S Corp or C Corp. Again, Noelle is not an attorney or a tax advisor
so I can't tell you which structure you want to get. But I'm seriously telling you you need to get
registered with the secretary of state is super important. The next thing that
you want to do is get your EIN number, get your professional phone number, your professional email
and a professional website. These things are not going to be only essential for your business.
These are going to be things that boost your credibility so that when lenders go to lend you
money for your business, they will see that you have all of these items and that they can find
you. It's essential. Make sure you get it done. So, when it comes to getting business credit,
the thing that is so important that I said to you in the previous step was the EIN number. The EIN,
I'm saying number but the N stands for number. EIN stands for employer identification number.
This is similar to your social security number for your business. And you can get
this absolutely free at irs.gov. Additionally, if you need help setting up your business, I'll make
sure to put a link below. I've made an entire video teaching you how to set up your business
so that you can get business funding. But it's very important that you know and understand
and get your EIN number as soon as possible. I've had many people that have gotten their
business set up and they've completely forgotten to get an EIN number because they're using their
social security number. If you really want to get to the point where you are no longer using
your personal credit and you really just want to rely on your business and your business credit,
you're going to have to get away from the social security number and start using your EIN. So,
the sooner you apply and get that EIN number, the better. The next thing you want to do when you get
your ein number that I didn't mention before and it is super important is you want to get
a business checking account. When you get that business checking account, it's going to unlock
so many additional sources of funding. Because now banks have tons of money set aside just to lend to
businesses, okay? Every administration puts money in some place. And the administration that we've
had recently has put a lot of funding towards businesses and you can go get that money. So,
when you go get your business account after you've done those few things that I said, in many cases,
they will offer you a business credit card or business line of credit right on the spot. And the
great thing about it is, they've already used your personal credit in order to kind of leverage this.
So, I know I said we were talking about not using your social security number, but in order to get a
business checking account, they're going to ask you your social security number, okay?
Yes, they'll ask you the ein number and all those things but they are going to check your personal
credit. But the benefit of that is if you have good personal credit right on the spot in many
cases, they will start offering you funding for your business. So, take advantage, don't say no
to those credit cards and lines of credit. I literally had a student that did that and
with his startup he got a 24,000 credit card in a couple of weeks. So, make sure you do that. Now,
let's quickly talk about how you get some trade lines added to your business credit profile so you
can start getting approved without ever using your social security number. You want to start building
trade lines. And there's going to be three different types of credit trade lines when it
comes to business credit. You have vendor credit, you have store credit, and you have cash credit.
Vendor credit is going to be from companies like Uline, Quill, Grainger, Suma. In fact,
I'm going to put a free link below where you can download a little cheat sheet that I've made just
for you. You can go ahead and you start building your vendor credit and then they will report to
Dun and Bradstreet once they start reporting the next step is to go ahead and get store credit.
There are companies like Costco, Dell... You know, different companies that will offer you credit
for your business name but it will be store credit. Once you have those trade lines going,
you will graduate to cash credit. Those are going to be like your Chase cards, your Bank of America
business cards and Capital One Spark cards and all of these great business credit cards that exist.
So, you have to go through the process and make sure that you don't go from vendor credit all the
way to the American Express. You want to take it step by step. I told you i'll give you the
process. And additionally, I made a whole video if you want to see that video as well where I
break down all of those different accounts and how long you have to wait. But it is super easy
to do and you can get it done (again) in weeks not years. Okay, I'm going to give you some bonus tips
because this is Noelle and I love just sharing tons of information with you. So, the next thing
that you want to do in a weather way that you can start getting some real funds for your business
even if you have some credit issues, if you have credit issues and you're having trouble getting
a business checking account, I'll put a link below to north one bank. That is a bank that you can use
and you can do it digitally. In other words, you can get that account set up online. You can do it
in less than 3 minutes and you can access your funds from anywhere in the world. Additionally,
they have a very large network of ATMs. The next thing is Nav. Nav is a company that will
help you get funding for your business no matter where you are. And in many cases, they are very
affordable and sometimes they're free depending on what service you're using of theirs. Again,
I'll put a link below and they can help you get business funding. If you have really bad credit
and you're really trying to get this done, another company... Again, I told you I'm just going
to share everything is a company called 5-Star Processing. They are literally giving startups
money right now. They will give you a merchant processing account with as low as a 350 FICO score
and they are lending business credit to people that have just opened up their business in the
past few months. They are definitely for a new entrepreneur and they are here to help.
Now, I put links again below so you can access all of this and I even have a free download that
has links to all of these absolutely free for you. Check it out. Make sure you're doing this
because this is how you do it like a boss. So, there you have it. Now you know exactly how to
build business credit like a boss without using your social security number at all. So, if you
need more information or if you would like a full training, I have created one absolutely free just
for you. Go to noellesfreetraining.com. That's noelle (n-o-e-l-l-e-s). noellesfreetraining.com.
I've created a complete course just for you. It was a little bit too long to put up here
but it'll outline and identify everything that you need to do and give you a full training
again absolutely free. I 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.