Updated about 9 years ago on . Most recent reply
Ways to establish credit for new business LLC.
I'm about to start my first LLC in Illinois. Any tips on establishing business credit conventionally and creatively will be great. Any info on trusting HML's will be greatly appreciated also. Thanks BP Family.
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@Markese Williams This is a process that has to be taken step by step.
1. Get a corporate email, 411 listing, business address(Not a P.O. Box) a virtual office is good.
2. Open a business bank account. If you can put 10K+ for a "Low 5" business acct rating that's excellent but not required. Take your articles of inc to the bank with your business address and open acct. I have a business acct. with Citi Business and it was that simple.
3. Once the above is fulfilled you can start applying with starter vendors like Grainger, Quill, ITC, Seton, Successories etc... You can open Net 30 Accts with them. Make sure they report to either D&B, Experian Bus or Equifax.
4. Your gonna need a D&B profile. Come back to me when you have established 1-3 and I can help you from there. It's a process and most business don't get their first credit card W/O personal guarantee for 9-12 Months.