How to build a business credit line in 2 to 5 days

Personal Credit Lines Vs Business Credit Lines

When it comes to personal credit which is what most of us know about, we know that there are 3 credit bureaus —

• Transunion
• Equifax
• and Experian.

And on those credit reports, what do they usually report?

They put trade lines up there of all of the different credit lines that you have taken out.

So, all of your credit cards, all of your mortgages, all of your car loans, all of your student loans.

Those will all report on your personal credit report as trade lines.

If you pay those accounts on time, if you don’t run your credit cards up and things like that, you will have an excellent FICO credit score in the personal credit world.

As most of you guys know, you want a credit score over 700,
that is a good personal credit score.

And that is how most people will be able to use credit and access different credit cards, lines of credits, and things like that in their personal name.

So, let me tell you about another amazing world and that is the world of business credit.

The Other Type Of Credit

When it comes to business credit, they are looking at something entirely different
than they are with personal credit.

All of your personal credit cards, all of your auto loans, your student loans; none of those things will report on your business credit report.

Same like with personal credit.

There are still 3 credit bureaus. Instead of Experian, Equifax, and Transunion; you have

• Experian business
• Equifax business and you have a new player
• Dun and Bradstreet.

When it comes to business credit, Dun and Bradstreet is the major business credit reporting agency.

And just like personal credit, they will report all of your trade lines, different accounts that you have. But only the accounts that are in your business’s name.

Just like you have personal credit cards and student loans, you can get all of those same things.

You can get in your business’s name and it will report only to the business credit report.

Let me tell you what you can do with business credit because it is amazing.

Step one to getting this all done now that you know and understand the differences between personal and business credit is start getting business credit asap.

Get Your Business Credit Lines Now

That’s probably the biggest mistake that I made in my business.

One of the things that I feel like held me back, where I had to keep struggling before I could become a full time entrepreneur.

I literally now have students that are able to access business funding in weeks, not years.  And they’re able to quit their jobs and work in their businesses full-time.

Let me tell you how you get this business credit done.

The first step is going to be to set up a business.

I know this sounds super easy and you’re like ,”Done, Reggie”.

But most people just completely skip this step and they feel like, “Well, I do this. I do Web Design or I do Business Plans.

Or I do whatever business I do. And that is my business.”

But if you want to start getting business lines of credit and you want to do this fast.

Step one, you’re going to have to set up your business.

Let me tell you what that means.

The awesome thing with business credit is you can get this set up in one day depending on what state you’re in.

The first thing that you’re going to need is a business license, a business registration.

You’re going to need an LLC which stands for limited liability company or you can do a C corp or an S corp.

Again, you go to your state’s secretary of state and you register your business.

So, if you for example have a business and you call it Big Time properties, you will go to the secretary of state for example and see if Big Time properties’ LLC is available and you register that business.

And again, in most cases, you can do this all online and it’s really quick to do.

The second thing that you’re going to need to set up your business, super simple.  And again, completely free.

Business registration you are going to have to pay for but this part is free.

You’re going to need an EIN number which stands for employer identification number.

This is like your business’s social security number. And it is amazing.

And again, absolutely free. You go to irs.gov.  Again, after you’ve registered the business, you have to make sure you have a actual business register before you do the EIN.

I’ll also suggest a few other things that you’re going to need. 

You might do some of these things before you get the EIN number but you want to get the EIN number as soon as you can because this is like when your business is kind of started or comes to life.

A business is born

Now when people look to see when you got your EIN# this is  the age of your business.

So, you want to do this as quickly as possible. You don’t want to wait a long time to do this.

And again, completely free at irs.gov. The next thing and again, super simple. You’ll need a professional phone number, a professional email, and a professional website.

Many times you can you can do this all in one day, okay? One day.

This is not anything that’s difficult to do and this will set up your business in a legal way where you can actually accept payments and start making money and get funded.

So, let’s get to that part.  Once you have these things set up, you are definitely on your way.

You are literally probably 80% ahead of most business owners.

Just by doing those simple things that I said, those 5 things

• get your business registered
• getting an EIN number
• professional phone number
• create a professional email
• and professional website, okay?

Just doing those 5 things and those 5 steps will put you ahead of so many other businesses and put you in a position where you can start getting funding really fast.

Don’t Do It Like Me

So, let me tell you what happened with me because I did not do this and I waited way too long to start getting business funding.

But now, I have many credit lines in business funding, business credit cards, business lines of credit, business loans.

Like, you name it, I’ve got it.  And you can repeat this business after business after business.

This is a process that you can duplicate over and over as you start businesses. There is no end to this, okay?

I’m a Web Designer, Real Estate entrepreneur, single dad of 3 and I mentor. 

But I did not start there, guys.  I literally started on my brothers couch, was homeless and had no assets at all.

I tried to just be the stay at home dad with the wrong partner.

We lost everything and I literally ended up evicted, separated, embarrassed, and broke.  Okay?

So I had to start over with bad credit and no money, alright? And I did.

And I can teach you how I did that. But business credit is going to unlock something else and you don’t even have to use your personal credit at all in some cases.

You literally can start a business profile and forget about personal credit all together and just rely on your business’s credit.

Unlimited Funds

On top of that you can create other companies and other businesses and create credit profiles for those businesses as well

Which will allow you to get hundreds of thousands of dollars for every business that you have.

How’s that sound?

So, you don’t have to make the mistake that I did.  Follow these steps and let’s start getting you business funding today.

The next thing that you want to do. And this is how you are going to literally unlock business lines of credit.

And I literally cannot believe that I did not know this because I learned this is the easiest tactic ever – but not talked about?  So, the next thing that you want to do.

Like I said, you do those 5 things. You want to make sure you have a business checking account, okay?

Now, when you go to get your business checking account, you’re going to need the business license, the EIN number.

But it is very simple. And again, completely free. You’re going
to put the money in your bank account and it’s your money.

You can take $500 or $1,000 or whatever the minimum is and get you a business checking account.

Now, here’s my recommendations:
You don’t want to go to the largest bank.

So, we have the large banks –Bank of America, Wells Fargo, City and Chase.

Those are not going to be the best banks for a small entrepreneur.

You really want to start off with some of the mid-size banks.

You know, regions bank, BB&T,
Bank of Ozark, PNC bank. I mean, I could just go on and on. It’s like that next medium-sized bank.

I think you guys know what I’m talking about. Not the large 4 but that next tier of bank
because those banks have a lot of money for small businesses.

There’s a lot of funds available at banks for businesses. It’s incredible. These numbers are unheard of.  $20,000 to $50,000.