Many small businesses could benefit from having extra capital available to free up their cashflow, but unfortunately most will never know that they can establish and build business credit for their business without using their personal credit.
There are 3 critical things that any small business can do to make sure they are building business credit.
Don't apply for credit cards that say they are business credit cards, if the application asks for your personal information such as your social security number. This is a dead give-away that it's a personal credit card in disguise as a business credit card.
Prepare Your Company's Documents
Make sure your small business is setup properly from the beginning. That means having your articles of corporation filed properly with the secretary of state in the state you do business in, as well as filing with the IRS for a Tax ID number (sometimes called an EIN number). These pieces of information are critical to filling out a true business credit application.
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