From the course: Credit Secrets for Entrepreneurs

Unlock this course with a free trial

Join today to access over 22,700 courses taught by industry experts.

Create a business entity

Create a business entity

From the course: Credit Secrets for Entrepreneurs

Start my 1-month free trial Buy for my team

Create a business entity

“

- Now you're going to learn how to build business credit. There are companies out there that will charge thousands of dollars for this information. I'm going to make it as simple and direct as possible for you so you can see the results you need as quickly as possible and get back to running and growing your business. The first step we recommend is to create a business entity. This can be an LLC, S Corp or C Corp. This is not required. You can build business credit as a sole proprietorship, but until you create a business entity, your business finances and personal finances are not truly separate. They're still intertwined, because ultimately, the only way you can really borrow is as yourself. Any credit you get will be tied to your personal credit and a personal guarantee. So creating a business entity has many benefits, but one of them is to truly separate your business and personal credit. When you file your business…

Contents