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Understanding the Process & Services
Business Credit
What is Business Credit?
Business credit is credit that is obtained in the name of a business. One key thing we need to understand about business credit is that it is NOT built on the same credit system personal credit. It's attached to your EIN number and once you're in compliance with what financial institutions use to qualify potential clients, including using the correct business structure you can build and utilize it get business credit cards, and funding to help grow your business.
Why Do You Need Business Credit?
If you are incorporated "a legal entity" you need to create a barrier between Business and your Personal credit. It's an important tool for any business and can be extremely useful for obtaining funding and maximizing a business owner’s borrowing power.
Compliance
Compliance is where a business accords to established guidelines or specifications for doing business by state, local or industry governing agencies. Compliance is also important because underwriting departments for insurance or funding will not do business with you if you are not compliant.