There are several important factors that will determine if your business will be able to secure both cash and vendor lines of business credit. As you know, it is very important to separate your personal credit from your business credit. Step one is to form a separate legal entity. You do not want to be operating as a sole proprietorship.
Entries Tagged 'Incorporation' ↓
Factors Affecting Your Ability to Secure Business Credit
March 16th, 2010 — Business Credit, Dun and Bradstreet®, Incorporation
The Master Implementation Guide to CA$H for Your Business!
February 8th, 2010 — Business Credit, Dun and Bradstreet®, Incorporation, Merchant Accounts, Personal Credit, Starting a Business
- Incorporate or form an LLC for your business! If you have not done this yet, call Nevada Corporate Planners, Inc. at 1-888-627-7007!
- Stop using your personal credit cards to finance your business.
- After you form your LLC or corporation for your business, apply for a business credit card in the name of the LLLC or corporation.
- Set up a plan to pay down your personal revolving debt to the 5-20% range. Fist, develop a 8 month personal emergency fund. If you require $6K per month to live personally that means you will need $48K in savings first for your personal emergency fund. After that, start to pay down your personal credit cards. Do not pay them off each month. You will improve your credit score by leaving a small balance of 5% each month.
- Set up a merchant account to accept credit cards for your business. For the best rates and service contact Nevada Corporate Planners, Inc. at 1-888-627-7007 for a referral.
- Develop a D & B® profile for the LLC or Corporation. We would recommend you do not do this on your and contact Nevada Corporate Planners, Inc. at 1-888-627-7007 for options in this area. Continue reading →
Listen to Fast Business Credit and Nevada Corporate Planners CEO, Scott Letourneau as he is interviewed by Jordan Goodman on The Money Answers Show!
April 14th, 2009 — Audio, Incorporation, business credit
How to Form a S Corporation.
March 23rd, 2009 — Business Financing, IRS, Incorporation, S Corporation, Starting a Business, Taxes, business credit
Want to know how to form a S Corporation?
Before you start a business, be sure to do your homework. Hire a professional to help you through the process, review the advantages and disadvantages of each type of business, and establish business lines of credit so that you can have sufficient capitalization for your venture.
How to Form an LLC Taxed as an S Corporation
March 18th, 2009 — Incorporation, S Corporation, Starting a Business, Taxes
If you want to form a Limited Liability Company that will be taxed as an S Corporation, you’ll want to know some basic information before you start a business. Many people choose to form their companies as an LLC but with the S Corporation taxation election. Why? Continue reading →
