On creating business credit
There's an interesting article in the NYTimes Small Business section about establishing business credit. How to Improve Your Business’s Credit. It has a list of steps to take, none of which sound that hard, that will help your new business establish a credit rating. The basic steps are:- Name and establish your business
- Get an EIN from the IRS
- Get a business phone number
- Open a business checking account
- (all of these steps so far make sense even if you never want credit)
- Take your business phone bill and checking account info to your local Staples *(or any local/small town merchant who knows you personally) and get a line of credit.
- Ta-da!
posted by EA @ 3:31 PM
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