Applying for business credit without sound advice.....

Applying for business credit without sound advice.....

I have been reading these lists of responses coming from well intended individuals, but allow me to say, if you are not clear on what is necessary to file for a business structure or even what a business structure might be you should search the web or consult an attorney. Next, before anyone delves into seeking "business credit" you should follow the necessary steps regulated in your home state.

In Washington where I live I started an LLC by filing an application/articles of organization with the Secretary of State (Corp. Div.), which issued me an Unified Business Identification # (UBI), then I filed a Master Business Application with the Dept. of Licensing and registered my legal and trade name or Doing Business As (DBA), then I applied for my Tax Employer Identification Number (TEIN) with the Dept. of Revenue. Lastly, I contacted my city and county government offices to find out whether I needed to obtain a license for having a principal location (my business) in their city and/or county.

Now, I know there are those out there who oppose incorporating the services of a "business credit builder" program, but I believe unless YOU are capable of knowing ALL the checks for compliance and know how to access ALL the "business credit" bureaus, namely, D&Bradstreet, Experian, Equifax, FDInsight,, ClientChecker to list a few, you are in a position of ruining your business credit forever!!!

Since, the government does not have any regulations re: how the business credit bureau manages our credit profile, we are at their mercy!! If I were you, I would pay the cost of hiring a "business credit builder" program. This way you will have a coach/specialist who can guide you through the compliance process, register your business with all of the credit bureaus, create a credit profile for your business with all the bureaus and seek out vendors and trade references for your business. This will allow you to start off on a healthier note and avoid any "traps" (i.e., pre-qualified cards, having your credit run by too many lenders, offers of loans without a "personal guarantee" (PG), etc),

Lastly, I hope this info. will help just one person not end up losing everything they so diligently worked for in just one or two phone calls. Beware, filling out those online applications, unless you are certain/guaranteed to have your application approved. Just my advice!!!

And He called his ten servants and gave them a sum of money and said,....Occupy till I come....Do business till I come....Put this money to work...until I come back....Buy and sell with these while I go and then return....Invest for him.... St. Luke 19:13