business credit,installment

[Anthony Vanson]

Hello, I just have a few questions regarding establishing business credit

I've read on here about depositing $500 as collateral for a loan of the same amount and then paying it off in an installment plan. They mentioned it in regards to personal creddit though.

1-Could I do the same with a business?

2-if I use that strategy with 5 different banks, will that hurt my score since I've opened up 5 accounts at once?

3-will they automatically report my payments to the credit bureaus or do I have to specifically instruct them?

4- is installment credit sufficient to build a paydex score of 80 or above if I always pay on time and pay off the entire amount due to all 5 banks after 6 months? Or do I also need to get revolving lines?

5-After 9 months or so months or so of paying off multiple installment and lower tier credit lines, will I then be able to acquire significantly higher credit lines from some of the major credir bureaus?

My personal credit is good if that helps,though I plan on increasing that as well.

Anthony