All Forum Posts by: Michael Evans

Hi Nam and Simon, I used US Bank for my LLC financing for the auto loan (it was a secured business loan - the vehicle was the collateral for the loan) and the unsecured credit line. Also, I was able to get a credit card in my LLC name through American Express with a PG.

Hi Mary, I'm glad that you found this post useful! Things are going well. I developed a relationship with the same banker who set me up with my LLC auto loan and just last month he helped set me up with an unsecured credit line in my LLC. Bank after bank will will turn you down (I approached many when trying to first get my LLC auto loan hosing) and then you find one who really wants to work with you :)

For anyone interested in this post, I was able to successfully finance my car in my LLC name using my EIN. As expected, I had to personally guarantee the loan but it's now in my business name and reporting to my business credit. The same bank that set me up with the loan set me up with a business credit card, as well.

Tyler, that's good to know - Thank you for the information.

Thanks Daniel, this is exactly what I was looking for - Very useful. Thanks for the advice!

Hi everyone,

Do banks use your EIN, DUNS number, or both for business financing? Also, can you use one or the other? I have an American Express Business credit card for my LLC which was setup with my EIN and backed with my SSN. However, I would like to finance a business auto loan in my LLC name in order to help further build up my business credit. My end goal is to establish enough business credit to get approved for some business lines of credit.

Any advice would be greatly appreciated!

Thanks,

Mike