Building Business Credit with FW

Start Building Business Credit with Your Subscription!

Here are the steps to end the use of your Social Security Number and begin separating your personal credit from your business credit.

  1. Incorporate. The first essential step in building business credit is to separate your personal credit from your business credit by incorporating. As you may know, a corporation is a legal entity distinct and apart from you. A sole proprietorship is not a corporation, nor is a partnership. If either of those are your form of business, you would need to change to an S-corp, a C-corp, or a limited liability company, LLC.

    Because a corporation or LLC is a separate legal entity, it is the easiest way to begin to create business credit.

  2. Get an Employer Identification Number (EIN). Think of an EIN as the Social Security number for your business. Issued by the IRS, an EIN identifies your business for tax and credit purposes. If you don't have an EIN, get one here from the IRS. Again, having one allows you to detach your Social Security number from your business' credit profile.

  3. Get a DUNS number. Dun & Bradstreet is the main purveyor of business credit information. Its system of following your business uses the DUNS number, so by getting one, you allow D&B to create a credit profile of your business. If you wish to expedite your request, go here

  4. Get commercial credit: Your Funding Window subscription is a business account same as your smart phone service, Internet service or any other account. Use your EIN and DUNS number for identification below and click send.

    Getting commercial credit is an easy way to begin creating business credit.

  5. Open a business checking and savings account. I will explain why in a moment, but suffice to say that a business savings account will help you establish credit.

  6. Obtain secured loans: This is where the business savings account comes into play. Although you do not have business credit yet, you do have a savings account in the name of the business. Take out a small loan and use the savings account as collateral -- that is, as security for the loan. Once a bank gives your business a loan, you really begin to establish a business credit profile.

Before long, your personal credit will be personal and your business credit will be business, as it should always be.

To activate the reporting of your business credit by FW, Please complete form below:

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