Business credit book suggestions?

[Darius Tracy]

I was wondering if anyone had any recommendations of books with practical useful knowledge on how to build business credit with no personal guarantee. Thank you for your time.

[Michael Ealy]

Originally posted by @Darius Tracy:

I was wondering if anyone had any recommendations of books with practical useful knowledge on how to build business credit with no personal guarantee. Thank you for your time.

That's tough.

If you don't have the time (meaning, you can't wait 12 months), then you need a guarantor who can start a business line of credit for your but using his/her credit to start.

If you can wait and you have some cash, what you can do is go to your local bank and get a SECURED business line. You can deposit, say $30,000 and get a certificate of deposit. Then, you can open a $30,000 secured Business line using your $30,000 CD.

Then use that business line. You'll get charged interest on the money you use but they give you interest income on the entire $30,000 CD. The reason you want to do is to build your business credit over time (you will still need your personal credit at first though but your business line won't be reported under your personal credit unless you default).