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Business Credit
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A Better Way to Get Business Funding
Establish Your Business Credit Fast & Easy
My Easy Capital helps you get business credit for your EIN that’s not linked to your SSN with no personal credit check or personal guarantee. Get approved even when you can’t qualify for a business loan with no cash flow or collateral requirements.
Obtaining Unsecured Business Funding is a vital element in growing your business credit profile. Establishing business credit is an important step for any new small business and helps you to: (1) maintain a credit history separate from your personal credit history and experience the business benefits of having good business credit, and (2) demonstrate separation between owners and the business. Alternative Funding provides options when you don’t qualify for conventional lenders programs.
Strengthen Your Financial Future
Why Separate Credit Histories?
By having a business credit history separate from your personal one, you can minimize the effect negative events on one might have on the other. For example, if you have some financial missteps that impact your personal credit history and score, they shouldn’t impact your small business credit if you have established a clear separation and vice versa.
Protect Personal Credit
Approach to Lending
Why Separate Business And Owners?
Unless you’re operating your small business as a sole proprietorship or general partnership, you need to demonstrate that the business is separate from the owners. One of the key benefits that corporations and limited liability companies (LLCs) provide the owners is protection of their personal assets. Keep this protection in place by consistently showing clear separation between the owners and the business.
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Build a Strong Credit Foundation
Eight Steps To Establishing Your
Business Credit
1
Incorporate your business
Even though you may be incorporated when you’re reading this, it deserves a mention. With sole proprietorships and general partnerships, the business is legally the same as the owner; therefore, there can be no separation of business credit history from personal. Incorporating a business or forming an LLC creates a business that is legally separate from the owner(s).
2
Obtain a federal tax identification number (EIN).
The EIN is basically a social security number for a business. It is required on federal tax filings, and is also required to open a business bank account in the name of the corporation or LLC. In order to comply with IRS requirements, many larger businesses also require an EIN from their vendors in order to pay them for services provided.
3
Open a business bank account.
Open a business checking account in the legal business name. Once open, be sure to pay the financial transactions of the business from that account. If you use a business credit card (see below) for many financial transactions, be sure to pay the credit card bill from your business checking account.
4
Establish a business phone number.
Whether you use a landline, cell phone or you use VoIP, have a separate number for your business and in your business’s legal name. List that number in the directory so it can be found.
5
Open a business credit file.
Open a business credit file with all three business reporting agencies: Experian, Equifax and TransUnion.
6
Obtain business credit card(s).
Obtain at least one business credit card that is not linked to you or any other owners personally. Pick a business credit card from a company that reports to the credit reporting agencies.
7
Establish a line of credit with vendors or suppliers.
Work with at least five vendors and/or suppliers to create credit for your company to use when purchasing with them. Ask them to report your payment history to the credit reporting agencies.
8
Pay your bills on time.
Perhaps it should go unsaid, but be sure to pay your bills on time. Like with your personal credit, late payments will negatively impact your business credit.
Stronger Business Credibility
Unlock More Financial Opportunities
Benefits Of Having Good Business Credit
Having good business credit can provide a number of benefits, including:
- Positioning your company for more favorable payment terms with new vendors and suppliers.
- Reducing the number of times you will need to prepay for products or services purchased.
- Allowing you to obtain better interest rates and credit terms from lenders and banks.
Once you have established and built good business credit, be sure to monitor and protect it, just as you do with your personal credit.
Strengthen Your Business Profile
Build Business Credit, With Ease
Now there is a new way to establish a creditworthy business, get credit and funding while protecting your personal credit scores. Our Business Credit Building System is the most simple and effective way to build business credit for your start-up or existing business…
Complicated Business Credit Building Methods Not Working For You?
Discover how to get your company’s credit identity and business credit ratings established with Dun & Bradstreet, Experian Business and Equifax Small Business all at the click of a button so you can maximize your funding potential.
Our system is comprehensive and will guide you through completing all necessary requirements to ensure that your business is in lending and credit compliance. This is the essential foundation of the business credit building process.
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Get set up an establish business credit scores with all three major business credit reporting agencies…Dun & Bradstreet, Experian Business and Equifax Small Business.
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Get private access to our vendor credit lines, fleet credit cards, unsecured business lines of credit, bank loan programs, funding programs and business credit cards that only report to your business credit reports.
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Build Credit Easily
Build a Stronger Financial Future
Here’s What You’ll Achieve With Our Business Credit Building System.
Leverage the power of business credit and obtain the funding your company needs once and for all…
Unlock More Funding Opportunities
Your Business Has Unlimited Funding Potential With
Our Database Of Credit Sources
Select from our database of hundreds of suppliers, creditors, lenders and banks
There are over 500,000 vendors extending credit, but less than 6,000 reports to the business credit agencies. Additionally, there are over 500 business credit cards in the U.S., but less than 70 of the report solely to the business credit agencies.
Foundation
Banks and lenders will require to see that your business is in lending compliance. Our system will guide you through the 20+ item foundation for building strong business credit scores. Each step of the system will provide you with all the necessary instructions to complete all items required to meet compliance in order for your business to be ‘credit ready’. You can go back and access all the steps to review and update any information.
Business Credit Analysis
We address the major components that make up the credit and financing potential of your business and see what funding programs might be available to you and offer alternative solutions. By improving and maximizing your personal and business credit scores, you will have much more capital (cash) and resources available to your business at better rates, terms, and pricing. You will have the opportunity to apply for a variety of funding programs if you qualify. If you do not qualify for a particular program, we will show you steps to take in order to become eligible.
Business Credit Reporting Agencies
We address your business credit files with all three major business credit agencies; Dun & Bradstreet, Experian Business and Equifax Small Business. Depending on your current status, this includes establishing new file(s) or making sure existing files are accurate. We wipe away any confusion concerning the Business Credit Reporting Agencies. Along with being able to access all three of your business credit reports, you will have a much clearer understanding of the business credit reporting process, including how your business credit scores are developed.
Vendor Lines of Credit
We teach you what each vendor requires for approval and which business credit agency it reports to. Optimizing business credit requires that your company acquire vendor lines of credit. A vendor line of credit is when a company (vendor) extends a line of credit to your business on “Net 15, 30, 60 or 90” day terms, or Installments 6, 12, 18, 24, 36, etc months. This means that you can purchase their products or services up to a maximum dollar amount and you have 15, 30, 60 or 90 days to pay the bill in full.
Business Lines of Credit
A revolving business line of credit account is one that allows you to pay a “minimum due” per month and not the full outstanding balance. These accounts normally report to Experian Business and sometimes to D&B and Equifax Small Business. Because of how they report, these accounts will help build your business credit on a larger scale than just the Net 30-day vendors alone.
Funding Programs
You will have the opportunity to apply for a variety of unique funding programs if you qualify. If you do not qualify for a specific program we offer, we show you how to meet the requirements needed to be eligible to apply. All business funding applications are first delivered to your funding analyst for review and pre-approval before full submission to underwriting. Remember, doing all the work to build strong business credit scores has a major goal, and that, of course, is to receive much more funding.