Building Corporate Credit

Having corporate credit established for a business is key to its success. Throughout the history of a company the need to establish corporate credit will most likely arise. Establishing the corporation ’s credit should be started before the company needs it. No lending institution wants to lend money to a business in need of cash flow. The business can start out using the owner’s or officer’s credit to gain approvals under the business name, but as the business gets growing it should start to establish it’s own corporate credit history and credit profile in order to take on corporate credit of it’s own. This is possible with a Corporation or Limited Liability Company (LLC) using the corporation tax identification number.

Corporate Credit vs. Personal Credit

When officers and owners use their own personal credit profiles to obtain credit for the business, they risk the chance of lowering their own personal credit scores. There are two reasons business owners should try not to use their personal guarantee on corporate credit. First, the individual signer is liable if the business cannot make the payments and second the credit obtained for the business can affect the person's personal credit score.

Keep in mind, your personal credit score is based on several factors, including: available credit, the amount of available credit used, late payments, and much more.

Establish Corporate Credit and Get:

• Retail Business credit cards
• Lines of credit with various companies
• Equipment leases
• Auto leases
• Even buy real estate, and more !!!

All without a personal guarantee or the need for personal credit checks.

Establishing corporate credit for a business is a process that should be established over time. The older the business the more options the business will have to build corporate credit and obtain loans and leases without the use of personal guarantees. It is not easy to do this, but yet it is not impossible. The first step is to start building the corporate credit today.

Business Credit Services has developed a unique patent pending process that compresses the normal 3-4 years of building corporate credit down to only 3-4 months! The goal is to establish a credit score of 75 or better. In comparison a corporate credit score of 80 is like having a personal credit score of 800, that's excellent credit.

Business Credit Services has assembled an impressive list of over 3,000 companies who will provide corporate credit. Part of the program is providing this list of businesses that will grant credit to your corporation solely based on your corporate credit information and are willing to report payment experiences to the credit bureaus all without a personal guarantee or the need for personal credit checks.

Source: David Gass, President & CEO, Business Credit Services, Inc. Business Credit Services, Inc. specializes in helping businesses build business credit and establish an excellent corporate credit history. Download their free booklet How to Build Business Credit at http://corporatecredit.biz

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