Building Business Credit For Beginners

So, you want to build your business credit but you're completely lost as to what the first step is. In this video, we're going to exclusively dive deep into the FIRST step of building your business credit as a beginner. So here it is! Building Business Credit For Beginners.

The very First thing in building business credit is to make sure you have your entity set up. This is your LLC, Corporation, Trust, LLP, etc. Be sure to consult with a licensed professional to determine exactly what you need for the best tax savings as well as asset protection.

Get your FREE LLC HERE: https://bit.ly/364eZiq

FREE Business Builder Checklist: https://www.biggerbusinesscredit.com/?sl=bbcfreeguide

Register your Business with 411: http://www.listyourself.net/ListYourself/

Once you have your entity set up, make sure you have all the right documents that go with the entity such as the Operating Agreement, Bylaws, and Corporate Meeting Minutes. You’ll also need an EIN for building business credit. This is absolutely free from the IRS website. Often times, if you hire an attorney or a licensed professional, they can help you get all this done as a packaged service. An EIN is like your social security number but for businesses.

The entity is set up, you have your EIN, now it’s time to make sure your business is legitimate. You’ll need a website. You can get a free website made very cheaply these days.

Once you have your website set up, you’ll need a separate phone number for your business. Luckily, you can get a FREE phone number that you can connect to your existing phone through services like Google Voice.

Next, you’ll need a separate business address for building business credit. While I don’t recommend it, you can still use your home address as your business address but this can decrease your success rate. You can get a virtual business address if you’re just starting out and it can be very cheap. P.O. Boxes generally don’t work as some creditors and banks want an actual address. If you already have an office space or a place outside of your home, you're a few steps ahead.

Next, you’ll need your FREE Dun and Bradstreet Number for building business credit. This is absolutely free and you do not have to pay for this. Dun and Bradstreet is a business credit bureau. They report business credit information to other creditors and lenders about your business. This process can take between 2-3 weeks. Some have received them sooner. Unlike your EIN, this isn’t instant.

One of the final steps in building business credit is to register your business in 411. This is often the most forgotten step for many business owners. This is also free but it can take 24-72 hours to get your business listed on 411.

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The Kwak Brothers are millennial real estate investors who have acquired over 82 Units of Rental Units and have raised over $20,000,000 of capital for their real estate deals. They are based out of the Chicago-land area and they are dedicated to helping hard-working people become financially free real estate investors! They specialize in owner financing acquisition and raising capital. They are the creator of the FORCE Strategy (Find the deal, Owner Finance It, Raise the Capital, Cashflow It, and Expand your Financial Freedom)

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---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc., and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.

Видео Building Business Credit For Beginners канала The Kwak Brothers