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1. Lender Requirements Overview(Introduction)18 Topics
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2. Come Up With A Business Name5 Topics
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3. Create a Legal Entity2 Topics
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4. Get An EIN1 Topic
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5. Get A Business Address & Phone6 Topics
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6. Get Business Licenses & Permits2 Topics
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7. Create Website & Business Email3 Topics
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8. Get a Business Checking Account2 Topics
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9. Get Business Insurance1 Topic
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10. Get An Accountant1 Topic
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11. Create A Business Plan1 Topic
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12. Business Credit Reporting Agencies
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13. Register With Dun & Bradstreet3 Topics
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14. Get Your Experian Business Report2 Topics
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15. Get Your Equifax Business Report2 Topics
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16. Business Credit Scores
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17. Business Credit Information Business Credit Information2 Topics
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18. Optimize Your Personal Credit4 Topics
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19. Adding Vendor and Credit Tradelines
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20. Apply for Vendor Accounts10 Topics
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21. Apply for CD Secured Business Loan1 Topic
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22. Ask Suppliers To Report To The Bureaus2 Topics
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23. Apply For Business Credit Cards3 Topics
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24. Business Term Loans3 Topics
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25. Equipment Financing3 Topics
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26. Business Line of Credit3 Topics
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27. Invoice Financing3 Topics
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28. Business Cash Advance3 Topics
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29. SBA & Long-Term Loans3 Topics
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30. Explore Business Credit Cards
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Your business credit should be separate from your personal credit. This means creating a legal entity specifically for the business. Usually in the form of a Corporation or LLC. An accountant or even paralegal can handle the entire process for you.
Establish A Legal Entity For Your Business
Creating a legal entity provides your business with a few options that other wouldn’t exist. Your business is separate from you. It’s now its own legal entity. It has more validity as a business operation, especially with the IRS. You can register it with Dun & Bradstreet and Experian. Suppliers and lenders are likely to take your business more seriously. You have more protection for your personal assets in the case of any legal business issues.
To begin creating your legal entity, speak with a financial consultant or an accountant about which corporation type best suits your business. There are several to choose from, including an S Corp, C Corp, and LLC (Limited Liability Company). Of the three, an LLC is the simplest form. Your business might have started as a sole proprietorship but this is not a legal entity. It is actually still you. Until you set up one of the three mentioned corporations, your business is still operating as you. Click here to ask questions from financial advisors who are online & ready to help you now.