Republish "Building Business Credit for Small Business Owners"

Please Note: This page is for web site authors who want to post this article on their sites. To read the article, click here. Thank You.

Here you can get simple copy-and-paste code for the articles that you want to publish on your site.

The Code

Just copy and paste the code below to a page on your site. You may modify the code as you like as long as you leave the article and byline unchanged and the links active. Keep in mind that we do not own the copyright for the majority of the articles on here. Therefore, we ask that you respect the author's efforts and keep the links and byline intact. Note that you may get into legal trouble with the article's author if you choose otherwise. Thank you.

<html>
<head>
<title>Building Business Credit for Small Business Owners</title>
</head>
<body>
<h1>Building Business Credit for Small Business Owners</h1>

Entrepreneurs must separate their personal and business life.
They need to in order to be seen as a typical consumer for credit
purposes, so they aren&#8217;t turned down for a mortgage or car
loan just because their credit score is low from business
activity.
The key to understanding business credit is to know there are no
laws protecting the business owner from the business credit
bureaus, as there are with personal credit. For instance if you
look on your personal credit report and find &#8220;anything&#8221;
that is not accurate you can dispute it with the personal credit
bureaus (Equifax, Experian, TransUnion). The bureaus are required
to research the information for accuracy and then reply within 30
days or it has to be removed from your report.
For business credit reports there is no such law. You can have
misleading or completely false information on the business credit
report and no protection from the law.
I tell you this because of the value of having your business in
compliance with the business credit market before you apply for
credit under the business. Before you look at applying for credit
under your business name you must have a business credit profile
built that is separate from your personal credit and be in
compliance. For example, you must have a business phone line listed
with directory assistance and a business license. Without these two
items most lenders won&#8217;t even consider your credit
application. These are only two of hundreds of items lenders look
at for your company&#8217;s compliance.
By applying for credit under your business and not having first
established a business credit profile, which we refer to as
&#8220;being in compliance&#8221;, obtain basic business credit
without the use of your personal information and develop a business
credit score, you can waste lots of time, money, and resources.
In order to obtain the credit score you must find companies that
will establish credit for your business without using your personal
credit information and then report the payment experiences to the
business credit bureaus. By reporting the information a business
credit profile will be established.
The business credit profile can be established as a Sole
Proprietorship or Partnership in addition to a Corporation or LLC.
However, with a Sole Proprietorship or Partnership the
owner&#8217;s personal credit information may be included on their
business credit report and vice-versa. In addition, as a Sole
Proprietor or Partner in a Partnership you are personally liable
for the debts of the business and all your personal assets are at
risk in litigation.
Corporations and LLCs on the other hand afford the business
owner liability protection and a separate credit profile. The
owners may apply for credit under the business and obtain credit
without a personal credit check or guarantee, if the credit grantor
will do so. Our company, Business Credit Services, has researched
the trade credit market over the last five years and found that
there are thousands of companies that will do this if asked.
Our business focuses on getting companies in compliance with the
trade credit market and matching companies seeking credit with
those granting credit. It is extremely important for businesses to
meet all requirements of the credit market in order to ensure a
higher likelihood of an approval. In fact, not being in compliance
with the credit market can cause red flags with credit bureaus and
grantors. Most businesses will not grant credit to another business
that has not taken the steps to set the company up with the proper
licenses and local, state, and federal requirements.
Almost every business at one point will need some type of
credit. To lower the risk of using your personal credit and
guarantees and obtaining the best possible terms, start the steps
necessary to build a business credit profile separate from your
personal credit report. No one wants to find themselves in a
position unable to obtain credit for a mortgage or car loan when
you need it most.
You can discover the secrets of building a business credit
profile separate from your personal credit with David Gass&#8217;
program &#8220;Success Steps to Business Credit&#8221;.

<div>Author Info 
David Gass is the President and Founder of 
<a target="_new" href="http://www.businesscreditbuilder.net">Business Credit
Services</a> Inc. His company provides coaching programs for small
business owners and has developed a patent-pending process for 
<a target="_new" href="http://www.businesscreditbuilder.net">building business
credit.</a> In addition the company offers incorporation services
and business plan writing. Learn more about their services online
at 
<a target="_new" href="http://www.businesscreditbuilder.net">http://www.businesscreditbuilder.net</a>
</div>

Article Source: <a href="http://www.innoarticles.com" title="Your #1 Source For Quality Articles">InnoArticles.com</a>
</body>
</html>

Republish "Building Business Credit for Small Business Owners"

The Code

Related articles you can post on your site