Business Credit for Start-ups

[chuff1026]

I have recently registered a C-corp and got a phone line and stuff like that and been reading about getting business credit and there are a few companies liek staples that will give me right away.....anyone has experience with this?

[Cole Taylor]

Oh the Irony....

Look at your sig.

[radreality]

Oh the Irony....

Look at your sig.

that's kind of funny

______________________________
Robert Falk
Business Developer / Investor
RADReality.com

[chuff1026]

i know
but not just credit cards
building business credit is much different than personal credit

[radreality]

building business credit is much different than personal credit

not really. I have found it to be pretty similar actually. Both take time, you just need to be patient.

Since your a C-corp, you should have an EIN. So just search for business lines of credit / credit cards that report to your businesses tax id and not to your personal credit (they will most likely still require you for a personal guarantee, just in case you default).

Although, its really hard/impossible if you don't have any revenue coming in. I think it took my business about 1 year of having decent revenue before it was able to get a credit card. And in about 3 years its increased to about $30k in available credit that isn't reported on my personal credit.

______________________________
Robert Falk
Business Developer / Investor
RADReality.com

[chuff1026]

i just got my first decent credit line
my business been regitered for 4 months
got a few net30 accounts and just got a dell account for 10K
yay

[jasaunders]

Lol, anyone can get a Dell account. Unfortunately their starting APR, even for people with good credit, is around 20%.

[chuff1026]

mine was 9.9%
and thats a small business account
no personal guarentee

[carrera87]

very nice keep up the good work