21. Apply for CD Secured Business Loan

This is what we’ve been working towards! If you have followed the steps from BizCredit Builder so far, you have put yourself in place for the first bank loan for your business. This loan must report on your business credit so it begins establishing your credit and demonstrates the business as credible.

Get the First Business Bank Loan

This might seem difficult, but if you have followed the steps so far, you should be in good shape for your first business bank loan. When applying for the loan, it should be in the exact name of your business, under the federal EIN that you established earlier. It should also report to all reporting agencies, especially Equifax Small Business and Experian Business.