Manage episode 215717963 series 2394241
For this podcast I interviewed Ty Crandall who is an internationally known speaker, author, and business credit and financing expert. He is the CEO at Credit Suitewhere he oversees the biggest business credit coaching operation in the United States.
Many entrepreneurs are not as aware of business credit as they should be. Business credit works almost exactly like personal credit but is based on your companies EIN (Tax ID) number instead of your personal Social Security Number. Getting credit through your business has many benefits. In fact, almost all businesses today are run with business credit and not using it will disadvantage you greatly. Business credit is available to non-US citizens and can be built in all countries where you can incorporate.
During the interview we thoroughly go over most of the important things you need to know when building business credit.
Click the below to get the free e-book How to Build Credit through Your EIN That is Not Linked to Your SSN.
What is Business Credit? (1:40) How you can get business credit without a personal credit check (4:10) Should all businesses start building credit as soon as possible? (7:00) How non-US citizens can use business credit. (13:00) The right kind of business entities for building business credit (15:45) Setting up the right address, phone number, website, e-mail address, references, bank accounts to build credibility. (17:20) What are the differences between virtual offices. (21:25) What are the first steps to start building your business credit. (23:48) How it normally takes to build your credit. (27:12) The differences between business and personal credit. (31:05) Do you have to continuously maintain your credit score. (32:20) At what point in the business life is it time to start building credit. (35:20) What happens if you cannot pay the money back. (37:00) Shelf corporations (40:05) Things to think about when naming your business (42:00) Credit repair (45:20) Crowdfunding (49:50)