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what's up everybody my name is James Hunt I'm the founder of Emporium 206 comm I'm gonna thank you guys for tuning in today video three starting a business and this is one of the most critical important videos and most sought after videos that I believe I had thus far this is what a EIN number is and how to obtain business credit and also repair your personal credit in the process so we'll get straight to it first I want to thank everybody who likes share made comments on any social media platform I really meant a lot to me because it made me want to push harder and give you guys this information one thing I can't say is I didn't expect the feedback I got from it endless emails texts and calls about how they can actually get in a position to better their personal credit and pretty much start the business process so I'm going to give you guys some key points today that I want you guys to follow and let me know how they actually impact you and change your life that's what I'm that's my minutes for so let's get straight to it what does the ein number the ein number also called a FB I in number is an employer identification number simply if you have one employee which could be yourself or 100 employees you need a ein number this is for tax administration purposes so this is for people who legitimately want to run a company you have to have an EIN number if you paid attention in my first video articles of incorporation you know that you have to have that but the state first you have to know what type of business structure you want to run S corporation LLC partnerships or proprietorship a lot of different things before we get to the ein number before you start the application process for EIU number which is not a complex application you have to have articles of a corporation there's a number on there that you input so that's something very important that you guys want to take care of those small things before we move to the stage here so for all my people who follow along and actually are either in the process of obtaining articles of incorporation or have already obtained articles of incorporation and know what type of business structure they want to run you're where you're supposed to be so II I in number again foundation and how you get bank accounts business-wise secured credit card you should cure a credit card through a business and also get a banking a loan approval so one thing I want to get into after the ein number I received a lot of feedback on how to repair personal credit one thing I can tell you is in college my credit score was terrible probably low 400s you know I got a credit card cuz I signed up for application so I can get free food like they used to do on campus and I blew it honestly didn't pay them and went to collections and I think they actually filed a civil suit against me and I had to pay as things went through the process to the civil procedures and I thought I was done for it pretty much I couldn't get a credit card anywhere through a store anywhere one thing I discovered is a secured credit card a guy told me he knew a little bit about finances and repairing credit a secured credit card is different from an unsecured credit card because a secured credit card requires collateral in exchange for credit meaning that you have to give the credit card company two to three hundred dollars to even get this car that you'll have a two to three hundred dollar limit on but it won't be a risk for them so if you blow this they don't lose anything because it's your money your if I give them two hundred dollars my credit limit is two hundred dollars so they don't lose anything this is for anybody who a is just starting off and dealing with credit or B has a sketchy history with credit you can't get any type of credit at all you can't even open up a you can't get a verizon phone you can't get the simplest form of you might have an apartment application denied or even employment this can impact a lot of different things so this is very critical get this secured card I went to Capital One I'm going to give you guys exactly the steps that I took to get to the point where I am today I want them the one so Google Capital One secured credit card follow those instructions send in money order or I believe personal check to to to to capital one and go through with the process you'll be able to simply walk through those steps and they'll send you that after you send into money so that's how you that's how you change it took me six months to raise my credit score 100 points from just obtaining that card also open up a credit card MA and as karma with the kake dot-com account what they do is track and monitor your credit you usage in it gives you graphs and different spreadsheets of where you were and where you can't go and what you can do and you have to play around with it great website in regards to tracking your credit so those two things obtain the credit credit card doesn't have to be through capital one can be through any one but I'm just telling you what worked for me and it's not a debit card it's not a rush card it's not a prepaid card it's a secured credit card you have to put money out to get the card so just remember that but that's very critical and repairing your personal credit I guarantee if you if you listen you will repair your credit slowly but surely and I'll have more information available as we go on here next we'll talk about after you have your EIN number you got your secured credit card open up a bank account you have the EIU number you have your Articles of Incorporation those are the only two things you need to open up a bank account anywhere in the United States so you can use your personal account you can use a business banking an institution that you believe is small business friendly but open up a bank account again we want to actually push that sense of being a legitimate company so every company operates with a bank account I don't care if you put $5 in it when you begin get into the process for putting $5 a weekend but you want to have that checking you wanna have that savings you want to have your the personal credit these are all small forms of having and actions that will continue to propel you to excellence in growing as an entrepreneur or if you're just looking to repair your personal credit just follow the secured credit card portion of this video lastly after the banking is set next you will receive and I guarantee you this you will receive unsecured offers for credit cards this could be personal this could be business don't go crazy but you want to take the opportunity to obtain this credit so especially those in the business sector your personal credit is separate depending on what type of structure from your business so if you open up that secured credit card through Capital One what happened to me is I then apply for a business credit cards through Capital One and lo and behold to change we didn't make any money at that point business-wise but I already had that track record of paying my card on time so they translated into okay we can trust them here we're gonna trust them here with the company so that's your next step go ahead and take those opportunities to get the business credit that you may receive those offers or you may have to apply but do not feel discouraged take care of that that opportunity and actually put yourself in a position to win because you can't you can't if you'll shoot the shot you'll know if it's going to go in so that's one thing you have to do and then final I would like to say I will be releasing more information as we go forward I want to hear a feedback from you guys on stuff that man missed out on or things that you guys really want to hear more of I'm looking to just give you guys the answers and kind of walk you through the process and show you the steps that I've taken to get to the point where I am where I have an American Express gold card I have Capital One I have personal credit cards I went from the bottom like the platform of these steps all the way you know I'm not at the top but I'm definitely in the middle as far as that goes so and it's a process and it's a journey but I'm giving you guys exactly what you need to be successful so I just want to thank you guys for tuning in again today shoot me an email at James at Emporium tu-16 calm again that's James at Emporium 206 calm next en prie m2 and 6 dot-com hit me up on Twitter Emporium CEO or on Facebook if we're already friends but I look forward to hearing from you guys and next Monday I'll be released in another video so you guys have a great night