Building Business Credit For Your Home Based Business

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Building Business Credit ... Simply a matter of taking your business seriously!

Now here's the dirty little secret bankers don't want you to know.

You really win when you start building business credit for your home based business this way. Your personal credit report does not show this credit line at all. You will be able to leverage your good credit much better than if you were to apply for a personal loan through your bank.

4 Simple Steps to Building Business Credit

Building Business Credit for your Home Based Business is a simple process when you use this little known secret to financing your home based business.

Use these four simple steps and you'll be on your way to building business credit for your home based business.

1. Establish yourself as a professional. Give your business a Professional name.
2. Set up your business as a legal entity. There are a number of legal structures for business you can use, but by far the simplest and most commonly used is the LLC. (This stands for Limited Liability Company).
3. Once you've registered your LLC, you will want to obtain an Employer Identification Number with the IRS (sometimes this number is referred to as a TIN).
4. Apply for Credit using your newly formed LLC.

For a complete step by step guide for how to register your legal entity visit: Steps to Starting a Business.

Start Building Business Credit - Where Do You Apply?

The best credit card offer for any new business is the ADVANTA card. Why? Because they offer 0% interest for the first 15 months your account is open. Then your rate will be set at a fixed rate of 7.99% . You must keep your account current and pay on time to keep that rate, but you will be hard pressed to find a bank that will lend to your new business at any rate close to that.

When establishing business credit using this method, you set yourself up as a professional. Your business wins and so do you!

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