The road to business credit begin with a properly built business.
If you are just starting today or have an already established business and ready to start building business credit, check out this list to be sure that you can begin adding tradeline and creditors. Stop funding your business out-of-pocket and get the funding that your business need to grow.
If you follow this process, you will be able to gain business funding within 90-120 days.
1. Create a Company Name & Niche
Choose a company name that best identify your company, values and mission. Determine your target market(s) and how you’ll serve them, differentiating your company from competitors.
Decide where your business will be located. Whether it be in your home address, commercial address or virtual address. You will want to decide this address when filing your legal documents. Note: If you use your home address, be aware that your address will become public.
3. Apply for LLC
Apply for Limited Liability Company status, commonly known as LLC. Go to your state’s Secretary of State website to file. Cost vary by state. Or you can use one of our trusted vendors.
4. Apply for EIN
Apply to establish your business with the U.S. Internal Revenue Service. Go to www.irs.gov.
5. Apply for D&B
Apply to establish your business credit file with Duns & Bradstreet. Go to www.dnb.com.
6. Create a Business Logo
Create your branding with a company logo. Easily find a designer at www.Fiverr.com
7. Get a Business Telephone Number
Register your company for a business telephone number. Build credit with Freedom Voice www.freedomvoice.com
8. Register with 411
Register your company business address and phone number with 411. www.listyourself.net
9. Register A Domain
With your branding and company name in mind, create and register an available domain name. Your domain, or web address, will serve to market your business and create a web presence.
10. Get Web Hosting
Where domain name is akin to a cell number, hosting is akin to cell service. Now that you have a domain, register for hosting service. You may be able to get hosting services provided by the same vendor as your domain name.
11. Get a Business Email Address
Register your company business address and phone number with 411.
12. Create a Website
Create your web presence with a website. A simple one-page website of your brand, services and contact would be sufficient.
13. Find Your Industry Codes
Find your NAICS and SIC codes that correlate with your business industry. This number is often used for banking and funding. www.naics.com
14. Open a Bank Account
Establish your banking presence by opening a business banking account. There are many fintech banks, or a local bank of your choice.
15. Freeze your Personal Credit
Take the option to freeze your personal credit report. This would prohibit financial institutions from being able to access your personal credit report when you're applying for credit. www.listyourself.net
16. Create your Social Media Presence
Start a social media presence for your business by creating pages on popular social media platforms. Try the following to get started:
16. Add Your Business To Web Business Listings
List your business on popular online listing and review platforms. This will allow your company to be searched.
Google My Business
By completing these steps your business is created and you're fully on the journey of business ownership. If you plan to add creditors or gain funding, you are now ready to apply for Tier 1 creditors and tradelines.