I started building my business credit this year (like Feb) and now I keep hearing that there is no such thing as business credit without personal credit guarantee anymore, because of the economy. My personal credit is not that great, that is one reason I started this business credit. Am I chasing a dream ?|||Building business credit is a journey. It's unfortunate that your personal credit isn't great. Don't feel discouraged, most Americans don't have great credit. Get a copy of your personal credit report and begin the process of re building it. There are vendors out there that will extend credit to small business start ups. Namely, Quill, Grainger, Uline and Reliable. Building business takes time, begin now. Good luck.|||You are chasing a dream--I've noticed the infomercials that pushed this dream don't air anymore.
Giving credit is a risk to the bank. If you started your business in February, you do not have a track record of several years to show that the business does in fact make money and does so consistently.
All you've really done is say you have a business and applied for a tax id over and above your SSN. The bank can't even be sure you'd spend the money on the business.|||Yes. You heard correctly.|||One company I am very familiar with requires the following: three years in biz, two years financials, three recent bank statements, can't be a sole propriety, us entity, positive capital, net worth, and cash flow. If you have all of these and a couple more little things, then u qualify for a corporate liability card base on no personal finances. If you don't, your done. Sorry.
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