I Need to Build Business Credit

I need to build business credit and have found out how to go about doing this. I found out that sole proprietorships (and partnerships) don't qualify for business credit. Also, I am personally responsible for 100% of the business debt at all times. In order to qualify for most business credit I need to make my biz a corporation or LLC. I also need a federal EIN (already have), a separate business bank account. Here's something that surprised me: I need a separate business phone number that is listed with 411 directory assistance.

Nitty gritty credit stuff: I need to register business with and open a biz credit file with all three credit agencies (Experian, Equifax, D&B). I must have one bank loan, 3 business credit cards and five vendor lines of credit that all report to the credit bureaus. Finally, I must pay all biz taxes and credit accounts on time and never, ever bounce a biz check. Pretty intense, huh? It's a good thing though, will actually help me improve my personal credit. I got this info from Business Finance, there's a wealth of information on there.

This blog entry written by Trula Breckenridge. Thanks for visiting MSPmedia: Indie Publishing & Production!