I heard about getting a Dun's # and all, but you need vendors that will report to Dunn & Bradstreet right? It just seems like an uphill battle getting that initial line of credit. Any shortcuts out there that can help speed up the process of building business credit?
How does a new company establish business credit?
- Thread starter hanks75
- Start date
Brian R
Member
You need to personally co-sign for you own company. Get a credit card for your company first....even if it is a secured credit card. Then use it to buy everything. Just pay it off and never use more than 50% of the card.
If you wanna be a top banana, guess where you have to start off?
If you wanna be a top banana, guess where you have to start off?
rhyde
Member
small credit lines with local vendors as Brian mentioned you will probably need to co-sign and you will likely hit with higher interest rates as a new business.
as a new company i'd be more concerned about building business vs. credit I've know people that have
started businesses and relied on credit at the startup only to be slaves to the credit line's monthly payment 2 -3 years on ...just saying be careful credit if used wrong can be huge trap
as a new company i'd be more concerned about building business vs. credit I've know people that have
started businesses and relied on credit at the startup only to be slaves to the credit line's monthly payment 2 -3 years on ...just saying be careful credit if used wrong can be huge trap
