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[Music] hi everyone it's a girl designer sell box and I am back with another video so on today's video this is a highly highly highly highly requested video and I'm so excited to create this video this is a little bit different of videos that I usually make but I want to give you guys the four one one the spiel in the juicy details on how to obtain business credit without using your personal credit okay so if you're interested stay tuned so first let's get into what is business credit right business credit allows you to get funding without using your social security number so this is separate from your personal information is separate from your personal credit profile this is something entirely different where you would be able to apply for things without using your name without being the the primary source this is this is a great way to get things without being responsible you're still responsible without being responsible using your name but in your business name right also you will be able to get real estate cars homes and funding in your business name without your personal credit that is really great so if you're interested in investing in real estate if you have a business you can do a business car you could do homes if you have offices or if you have employees that you want to put them in homes or whatever you can buy a home in your business name and you can get funding which is really important because banks love to give loans and funding to businesses rather than a personal person they love to give business loans rather than personal loans this is where you would get the most funding in your business name so if you're looking to get funding to whatever you need to do business credit is what you need to be in I it also helps if you want to plan to leverage credit to invest business credit is a great tool for you to do so so if you want to invest in stay or invest in mobile homes are a lot or another business just you want to invest in anything that you know that can make you more income then you can use the business credit because you can get a lot of funding from your business by just using your business name a lot of businesses can you know get around two hundred thousand plus and business credit and they use that to invest in other adventures so yeah that's business credit is so how to obtain business credit right you want to know how do I do this so if you have a business already say for instance you're a independent contractor or if you already have a business and you have not registered your business with the Secretary of State you can register a business with the Secretary of State okay with your state and you can register with as an escort a seek or I forgot to put it on there but the see court in an LLC okay so those are three entities that you can you can use to register business and then second you want to set up a I in number which is your employer identification number and this is basically your business social security number sort of speaking like a better terms but when you're applying for funding in there were always actually what is your EIN number and this is basically the number that will identify you know it will identify your business on when you register you know what type of business is it is and you know if you have business credit it will pull up all your information so this is why when you apply for a stuff you're not gonna use your social security number but you're gonna use your EIN number and this is how you can get this is important to do because this is how you get everything in your business name this is how you apply for business funding is how you apply for vendor accounts and stuff like that so II ie a number is the most important so you cannot do this until after you register your business with Secretary of State in your approved then you go sign up for you at the EIN number also you will want to set up a virtual office or a Regis off is so honestly that would be the first step because you would also need to have an address to to register business with the Secretary of State because it cannot be a peel box and it cannot be your home address so when your register your business with the Secretary of State do not put your home address and do not put a peel box you will get an ID if you do either or okay then you want to get a done Duns number which is done in bass Street and you can do so by going to Nebraska comm and then you will want to register for register for free so Donna brush you will try to sell you some stuff like some subscriptions on how to get your more it's gonna just do gonna either call you and try to sell you stuff this is like 100 to 300 dollars my shorter price but it's around that you don't need it so just say no but you can still register and get a Duns number for free on the website so that's for free and that's all you need right then once you don't done all that now this process may take up to two weeks because you have to wait for the secretary of state to approve you it's not for you to actually go to the dun & bradstreet number okay so it will take a couple of weeks one or two weeks give or take then once that's all done you want to open a business bank account okay so if you have already have a personal bank account your your bank offers business bank accounts you probably want to open the business bank account there there are tons of banks that can offer you a business bank account you want to just open up a business bank account wherever you feel you're comfortable with maybe federal Chase Capital One just name a few USAA bank those are a couple of banks that I recommend you can open your business bank account with then you want to apply for a net 30 account so this is key this is how you obtain the business credit score this is how you obtain the you know the the score so that you can apply for great things so you want to apply for net 30 accounts and what net 30 means is that you have you'll have 30 days to pay back what you buy from these vendors are from these businesses so net 30 gives you 30 days to pay it back right I you want to do their name to name a few is Grainger you lining quill so if I've done these and I bought like so it depending on your business like if you're an internet business a lot of people are online based businesses so you may not need like a lot of like a lot of appliances or stuff that that would particularly be for office but you can also do like tissue paper hand sanitizer whiteboards coffee makers stuff that you know are trash bags you want to purchase things that you still want to purchase things but you want to purchase things there even though it may not be something that you really need this is how you obtain the business credit is going to report to the business business gurus and this is how you're going to be able to apply for other things later down the line because once you accumulate business credit it's endless you can you know you can start opening net 15 accounts and you know in longer longer longer term accounts and more top-tier account to where you were able to you know buy cars and homes and stuff like that put your business and then you want to sign up for the nav which is which is really cool and so basically Neff has a business credit reporting so once you start paying your net 30 accounts back you're gonna accumulate a business credit score and nav is basically where you will go and check out your rankings so what our business credit scores so yeah like I said you will want to sign up for dun & bradstreet and then done and brass you will start reporting once you apply for your net 30 accounts and you start paying them back so it may take like two to three months for something to report and actually accumulate a score but it will be done in Bradstreet paydex experience and telescope Plus FICO liquid credit Equifax payment index okay so those are like the top business credit scores and you can find these scores on navcom and on dun & bradstreet okay navcom has free score reporting however if you want to get more in detail of each score you will have to pay and same for dun & bradstreet it will show you you will get alerts when someone pull your business credit on dun & bradstreet but you can only see it vaguely you know it won't actually tell you a lot of detail about it so if you want to pay for that subscription you can it all depends on what you would like to know so business credit tips so just make sure you pay your invoices on time and what I mean by own time is not like as soon as you buy something then pay it the same day now you want to give it time to report once you want to give it time so I suggest 5 to 10 business day before it to do right and then make sure to keep all your addresses and phone numbers the same when applying for business credit so whatever you put on your when you're registering and your secretary of state whatever you put on those applications you want to put for everything so make sure you have a business address which is memorize said of virtual address or we just office address and make sure you have a business phone number like a 1-800 number and you can even get past a Google Voice number it all depends but if you want if you want a 1-800 number that works just as great because when you're applying for funding at busy banks they're going to look at the information they're gonna make sure that all the information is correct and if it's not this is an easy way to get denied so you want to make sure everything is perfect everything is consistent everything has the same addresses and phone numbers right okay and then make sure to choose wait this is really how you will get deny for business credit so you want to make sure you choose a low-risk business okay so they have this thing where it's in a ICS and the CIS codes that business banks go by so they're gonna look up the code based off what type of business you are there's off top of the head high-risk business or like had it repair businesses a really high risk real estate is really high risk you want to do something low-risk like consulting marketing there's like tons of I can actually do it I can do a video on where our low-risk businesses and high risk businesses so that you know I'll do a video on that but those you want to just make sure your businesses your business is low risk so this is important to do before even creating your business into Ana Secretary of State when you're applying but just make sure you keep that in mind because you may think that your business is great but if you're planning to use this business for business funding they will deny you based off that no matter how much money you make no matter how many employees you have or no matter what if your business is high risk they're gonna deny straight up and these and they go buy coats so you want to make sure you create you know what type of business you have and you want to make sure that you know based off this bank will they consider me a high risk or low risk you can also Google in a is C or si seacoast to figure out what our lowest and with our highways businesses also this is key this is really important this is like the icing on the cupcake okay so you want to make sure you get your business like have your business with a great online presence this is key so you want to make sure they turn the yellow pages you can call someone to do it you want to make sure you're on Yelp you want to make sure you're on Google you want to make sure you have a website that's important one make sure you have a website a lot of businesses will deny you if they can't find you on the internet if they can't find your internet they will deny you because they're like Google search you and see what is it that you actually do they're gonna look you up and see what is it that you actually do is everything legit can we give funding to this business you know they want to make sure that you are legit because you're giving out tons of funding so just make sure you get your business and online presence it's very easy to do you do Squarespace Wix WordPress Shopify you can call you for one one and get your free yellow book list and create a yelp accounts that when you win someone googly yup comes up and you just want to make sure that you know you have a good online presence social media twitter facebook Instagram all those good things you want to make sure you get that up and running as well when trying to apply for business credit these are the tips on how to get good funding and never get denied hi everyone this is on our soapbox I just wanted to make this video so guys let you know that I am having a 50% off sale for 72 hours yes a 50% off sale on a 24 hour Express ink removal guide and also the late payment removal guide so just head down to the description or to the pin comments and click the link and get your 50% off remember this anchor removal will help you remove hard 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