Getting Corporate Credit Faster
It isn't going to be a cake walk but it doesn't have to be something that sends you to the brink of insanity either.
Do what you can for your business from the start so you can stop going in circles when it comes to getting that credit set up.
Before you apply for a business credit card or a line of credit, you need to establish accounts in the business name.
You can take a few thousand dollars and open up a business checking account.
You want to keep it completely separate from your personal accounts.
You only want the business name on the checks and you only use them for business related expenses.
Don't wait until the day you open the doors for business.
You want to get that checking account in place while you are still putting the finishing touches on things.
Put a decent amount of money into that account and leave it there.
Write checks for what you need for your business only from this account.
It shows lenders that you have done well separating your personal and business expenses.
You can also use the date you opened that account as the start date on your applications for corporate credit.
Make sure you have a good idea of who you are asking for the corporate credit.
If you do your homework you will discover who is definitely going to turn you down, who is a possibility, and who will likely say yes.
This way you can apply where you feel you will get the best results.
Otherwise it is just a waste of your time and you will quickly get tired of the process.
While you are finding a lender, you need to see what other people have to say about them.
You should be able to communicate openly with them as well.
This is an opportunity to develop a long lasting relationship.
You can't do that if you feel they don't take your interests to heart.
You also want to make sure you are getting fair rates on the credit you do have offered to you.
Before you complete any application, you need to check that business out with the Better Business Bureau.
Find out how long they have been in business, any complaints against them, and what other consumers have had as far as their own experience with them.
This information is free as well as very valuable to you.
Business credit is going to be a vital piece of your business that you have in place.
Do all you can to make the process as simple for yourself as you can.
Don't get discouraged at the process or at being denied.
Continue to do all you can until someone gives you the opportunity you have been searching for.
One you have your foot in the door, it gets easier from there.
Make sure you protect your corporate credit so it isn't tarnished.
You want to be able to get the credit you need later on without any hassles.
As long as you have been responsible with what you have they will be greeting you with open hands to give it to you.