EIN# and credit - Posted by Dave

Posted by Jason (MI) on August 14, 2001 at 16:00:51:

Yes, you can. Make sure every business expense possible is paid for by your company. For example, if you want a cell phone, buy it under the company name, and use your EIN on the form. I know Verizon Wireless posts credit information about you to the credit bureaus as soon as you sign up. Sprint PCS doesn’t unless you fail to make a payment. Get all your utilities under a company. Get a company credit card (or a few), and make sure you keep good credit history with all of them. You won’t be able to get residential mortgages from banks using your LLC or Corp. You’ll have to personally guarantee them. If your company builds itself long enough and maintains good credit, you’ll be able to get commercial loans large enough to purchase property. It’s not an easy process, but it can work.

Good luck!

EIN# and credit - Posted by Dave

Posted by Dave on August 13, 2001 at 18:42:14:

Can you obtain credit with your EIN#, and if so, how do you build strong credit with your Corp or LLC?