Building business credit can be easy

[milsaps118]

you can get all of those a s a sole prop also.

Yep...but if your a sole using your SS (which a lot of sole prop's do) as your FID#, it would be no different than giving a PG.

[JohnsonLawn]

Yep...but if your a sole using your SS (which a lot of sole prop's do) as your FID#, it would be no different than giving a PG.

You can be sole and use a FID#. You may have had employees and went back to sole.

[lawnman_scott]

Yep...but if your a sole using your SS (which a lot of sole prop's do) as your FID#, it would be no different than giving a PG.True, but I think that anyone trying to build their business credit would at least have a FID#.

[KevinACrider]

This thread has helped me get alot done in 1 day for my business I'm trying to start. I've got my papers filled out and ready to mail for my LLC, got my EIN, got my DUNS. Good thread!

[KevinACrider]

One question though. I applied for my DUNS online via the Government website last night. I have yet to receive my number though. They said they will email it to me, how long does this generally take?

[TLClandscaping]

Call em and read all the posts :waving:

[KevinACrider]

I have read all the posts. People just say 'days'. I've also read that if you call them, after you have already done it online, then you will end up with 2 DUNS.

[NOOB]

got my Duns number today going to reg. in a day for so but big questions?
Which of the 3 do I pick from on the first page of Reg on ccr.gov
1) I am not a U.S. Federal Government entity.*
2) I am a U.S. Federal Government entity, required by my trading partner to be registered in CCR (e.g. CAGE code).
3)bI am a U.S. Federal Government entity registering for intra-governmental transactions.

[NOOB]

as well as How much do you put dont for earnings? this is my first year in business or does it matter
I will keep evryone updated on my status

[KevinACrider]

I called and got my DUNS number given to me over the phone, the one that I was assigned when I applied online although I received no email notification. Was able to get the Staples card pending I fax in my business license. However, Office Depot told me they need a PG and I refused.

[JohnsonLawn]

Just got Shell Fleet Card today with $2500 credit line. Gonna sit back and hold off for a while now. To date I have gotten $15,500 worth of credit in the last month and all with no PG or social given. Good stuff :usflag:

[lawnman_scott]

got my Duns number today going to reg. in a day for so but big questions?
Which of the 3 do I pick from on the first page of Reg on ccr.gov
1) I am not a U.S. Federal Government entity.*
2) I am a U.S. Federal Government entity, required by my trading partner to be registered in CCR (e.g. CAGE code).
3)bI am a U.S. Federal Government entity registering for intra-governmental transactions.You put # 1. Just take a guess at what you will make for the amount part. The reason they ask is that they have contracts that have to go to a company that makes under a certain amount sometimes to ensure that some small businesses have a shot at the contract.

[T & M Lawn]

Anyone know what gas cards you can get when you first get you Duns #?

[NOOB]

When you signed up at CCR.gov which choice did you pick?

[KevinACrider]

I did not register with ccr.gov yet. I guess I should do that. I very much need to find a way to finance a mower or aquire a small business loan (under 2k) to purchose a used mower so I can get started.

[NOOB]

Just registered with ccr.gov WOW how long
now Ill wait a few days like they said and Ill do apply at Staples first see what happens

[DoetschOutdoor]

I've only glanced at this thread a few times and noticed you mentioned being inc. or llc....if Im sole P, is it still worth doing all this?

[NOOB]

LOL read the Whole thread I had to if you want to build the business credit folow the steps
by the way I am Solo.

[lawnman_scott]

I've only glanced at this thread a few times and noticed you mentioned being inc. or llc....if Im sole P, is it still worth doing all this?I would read from the start if I were you. You dont have to read it all, it does get repetative, worthwihle, but repetative. I am sole prop also, see post #345.

[NOOB]

sounds like a stupid question but what is Tax ID # ??

[lawnman_scott]

sounds like a stupid question but what is Tax ID # ??Its a number you get from the irs, kind of like a social security number for your business. as a sole prop you can use either your ss# or tax id# for your taxes.

[KevinACrider]

Tax ID # is the same thing as your EIN.

[retrodog]

I've only glanced at this thread a few times and noticed you mentioned being inc. or llc....if Im sole P, is it still worth doing all this?

I think the whole point is to seperate personal credit from business credit. To fully do this you will have to file LLC (which is pretty easy). Then I believe you start doing the Dunn thing that he is talking about. LLC will pretty much free you up from having to use your personal credit for business liabilities. I have really good credit, but doing this will actually free up the amounts I have borrowed against my business. To people with really bad credit, its a way of kinda starting over with a fresh book as you say. They have a second chance to prove theirselves able to pay the bills, and in return usually in a one year turnaround they can get $100000 of credit available (what they say anyways).

[NOOB]

ok good I put my EIN on Staples.com and it told me to call them with refrance # in the morning so I will do that

[TLClandscaping]

Went through the samething, IRS had my EIN # Screwed up with my Business name, funny that they never fixed it when I am paying taxes on it. They said now it will take 4 weeks to update my business name, that puts me off from CCR cause it is conflicting, stupid A$$ IRS, takes that long to fix a name, ******ed!!!!!

[KevinACrider]

ok good I put my EIN on Staples.com and it told me to call them with refrance # in the morning so I will do that

They just want you to fax in your business license or papers of incorporation. Same thing happened to me and everyone else.

[NOOB]

you are right KevinACrider Called and thats what they said so damn I gotta go do a fax now Thanks everyone Great thread

[KevinACrider]

you are right KevinACrider Called and thats what they said so damn I gotta go do a fax now Thanks everyone Great thread

At least you have yours. My company is so new that I've not even received my license in the mail!

[deanslists]

At least you have yours. My company is so new that I've not even received my license in the mail!

Same here, but I read somewhere (much earlier in the thread) that someone just faxed in there cell phone bill with there business address. I'm not sure if it worked cause they never posted a reply, but that is what I did. I'll let you know what happens.:confused:

[deanslists]

Since Office Depot requires a PG, I decided to apply for Office Max and this is what I got:

Unfortunately, based on the information provided, HSBC Retail Credit (USA) Inc. is unable to approve your application at this time.

You will receive a letter from HSBC advising you of the reason within 30 days.

At times, HSBC is able to further review an application decision if more information on the business is provided. To find out if your application can be further reviewed, please contact an HSBC credit analyst at 1-800-365-2713 .

Has this happened to anyone else and if so did you call and what happened?

[KevinACrider]

Since Office Depot requires a PG, I decided to apply for Office Max and this is what I got:

Unfortunately, based on the information provided, HSBC Retail Credit (USA) Inc. is unable to approve your application at this time.

You will receive a letter from HSBC advising you of the reason within 30 days.

At times, HSBC is able to further review an application decision if more information on the business is provided. To find out if your application can be further reviewed, please contact an HSBC credit analyst at 1-800-365-2713 .

Has this happened to anyone else and if so did you call and what happened?

I got approved at Staples yesterday for $750. I actually received my license about 3 days after I posted that. Also, Office Depot shut me down and I have not tried anywhere else. It looks like FedEx/Kinko's will approve me based on the email I got today. They are asking for business banking information to be faxed back.

[metro1handyman]

I applied online to oiffice depot and staples, bot resulted in a call customer service with a code #25. So I waited to see what would happen. 5 days later I received a card from both companies, BOTH with a $2,000 limit. I have applied for a home depot revolving account with $5,000 limit, and I received the same exact customer service page w/ code #25.(They use the same finance companies). I am now waiting to see if I receive that card....we'll see

[metro1handyman]

By the way no personal gaurantee w/ any of them.

[metro1handyman]

Here is the link for office depot http://www.officedepot.com/renderStaticPage.do?file=/creditcard/business_info.jsp

For the tax payer id field enter your EIN(Business Tax ID #)

[deanslists]

Thanks for the info. I have not heard anything from staples yet and I did apply to Office Depot but they faxed a form to fill out for a PG. I plan on filling out everything on the form except for the PG and see what happens. Please keep us informed with what happens with the HD account. That is the one I really need!:)

[metro1handyman]

To let everyone know.... I rcvd a letter from Home Depot today that said my app was incomplete and to call within 15 days.. so I called and they verified my name and position w/ my company, and verified my business name and business address(all verbally) and WooHoo... I've been approved for the requested Credit Limit $5,000. :)

[deanslists]

Yeah! Congrats!:cool2:

[retrodog]

Just pay your bills like your supposed too, and you won't have to do any of this j/k:)

[metro1handyman]

Just pay your bills like your supposed too, and you won't have to do any of this j/k:)



Just to let you know cheif, I PAY all my bills, and unlike you and do not owe a dime for any of my equipment(although not near as nice as yours). It was all bought and paid for w/ cash by me! And on another note you obviously don't know much about business if you don't know that having business credit is the only way you would ever be able to walk into a bank w/ a business plan and walk out with $250k for an expansion. Do you think that a bank would give you that kind of money on your personal credit for a business venture? No way... you wouldn't have the income to cover it, that is where you need business credit.


That was an arrogant thing to say in my opinion, :nono: , and I don't believe that you know most of these people well enough to assume that any of us don't pay our bills.

[retrodog]

Just to let you know cheif, I PAY all my bills, and unlike you and do not owe a dime for any of my equipment(although not near as nice as yours). It was all bought and paid for w/ cash by me! And on another note you obviously don't know much about business if you don't know that having business credit is the only way you would ever be able to walk into a bank w/ a business plan and walk out with $250k for an expansion. Do you think that a bank would give you that kind of money on your personal credit for a business venture? No way... you wouldn't have the income to cover it, that is where you need business credit.


That was an arrogant thing to say in my opinion, :nono: , and I don't believe that you know most of these people well enough to assume that any of us don't pay our bills.

I said I was joking...lol My mechanic is going through the same thing to get his "business credit" by going LLC, it is a good thing for him because he does have bad credit and can't buy anything. After 1 year of working his new line of credit, he will be able to stuff on a second chance business line, just like a kid that turned 17. Once swapping to LLC, you are a "ghost" again, and must take baby steps getting crappy credit accounts to prove your credit worthiness. My opinion would be to go LLC then start building credit like this, It is an easier route I believe with alot less risk. You are still actually using your personal credit with this, and if you go under with your business credit, it will reflect on your personal credit. The less risk, and full seperate business aproach would be the whole LLC thing. I really was joking man, you can't take me serious unless I am talking about my Bad Boy's.....:laugh: But for a side note, I can go to my bank right now, or any other bank for that matter and get a $250000 business expansion loan with my "personal credit". Not because I am special or anything, I have just established my credit well since I was 17, and never missed one payment on anything. My score is not the full 850, but our credit system has many flaws. I take advantage of the 0% for a year on credit cards, and am usually close to my limits with them. I have a Bank of America Visa with a $38000 limit, along with many others, that I established with my "personal credit", also have a $150000 just line of credit at the bank with my "personal credit". I believe some of these guys doing this are wasting a little time without going llc, or just simply working on building their current "personal credit" without opening all these new accounts that they will never use. Just opens them up for hackers and frauds to use those accounts without them knowing because they won't use them, and won't think to check all the extra accounts every month.

[KevinACrider]

I said I was joking...lol My mechanic is going through the same thing to get his "business credit" it is a good thing for him because he does have bad credit. My opinion would be to go LLC then start building credit like this, It is an easier route I believe with alot less risk. You are still actually using your personal credit with this, and if you go under with your business credit, it will reflect on your personal credit. The less risk, and full seperate business aproach would be the whole LLC thing. I really was joking man, you can't take me serious unless I am talking about my Bad Boy's.....:laugh: But for a side note, I can go to my bank right now, or any other bank for that matter and get a $250000 business expansion loan with my "personal credit". Not because I am special or anything, I have just established my credit well since I was 17, and never missed one payment on anything. My score is not the full 850, but our credit system has many flaws. I take advantage of the 0% for a year on credit cards, and am usually close to my limits with them. I have a Bank of America Visa with a $38000 limit, along with many others, that I established with my "personal credit", also have a $150000 just line of credit at the bank with my "personal credit". I believe some of these guys doing this are wasting a little time without going llc, or just simply working on building their current "personal credit" without opening all these new accounts that they will never use. Just opens them up for hackers and frauds to use those accounts without them knowing because they won't use them, and won't think to check all the extra accounts every month.

The very first step in this process is to file for an LLC.... :rolleyes:

[retrodog]

not trying to sound like a know it all or anything, I just have worked in finance before, and until you truly seperate yourself from your business by changing catergories i.e. llc, inc, etc you are still liable on your personal credit level for your business. Believe me, I have a shady friend that has filed bankruptcy on 9 different businesses, but has more money and stuff than most movie stars you see on tv. Not saying this for anyone to be shady persay, but right now going through all this process without converting over, all of these people doing this are still responsible for their business under their personal credit. If they would simply file into a different catergory....then do this process, they would be alot better off I believe. This is exactly what they would need to do if they did switch over, then worst case scenario, business goes bad then the "business credit" goes bad while not hurting the owners "personal credit" whatsoever. I am not dogging anyone at all for what they are doing, just saying to look into a little more before opening all these accounts.

[retrodog]

The very first step in this process is to file for an LLC.... :rolleyes:

oh ok, guess I missed that post.....lol, sorry, i opened up a can of worms in the first place, and shouldn't have said anything after..........lol I figured I would get a laugh at best for saying that. I admit I am running alot of risk by not filing llc yet, just haven't had the time to sit down and do it. I procrastinate alot

[metro1handyman]

ok... I jumped the gun on ya there, I apologize... I didn't even see the j/k at the end.:nono: shame on me. I guess I should learn how to read before sticking my foot in my mouth. :laugh: ... I have had an LLC for a few years now, and you are correct if they don't go LLC then there really is no point. But on the other hand the accounts that most everyone is talking about are business accounts, and you can't get them w/o a business name(LLC,Corp, INC).. if you do then you are either using a DBA, which is a sole prop anyway unless other wise registered, or it is a personal line, in which case it doesn't matter anyway because it's not a business line of credit.

That is just unreal that you have that much personal credit @ your disposal:dizzy:... like you said Pay your bills and you are in perfect shape... That is the downside to paying w/ cash, if you don't pay w/ credit, you don't have credit... if you don't have credit, it's hard to get it...... Hope you and everyone else here has great success today and in the future...*trucewhiteflag*

[Southern Magnolia]

So to sum up??

Staples, and Shell do no require PG. Office depot now does and Home Depot require 3 years of credit history? Is that correct? Anyone aware of another other, besides local dealers, that offer credit without PG?

[FCPWLLC]

So to sum up??

Staples, and Shell do no require PG. Office depot now does and Home Depot require 3 years of credit history? Is that correct? Anyone aware of another other, besides local dealers, that offer credit without PG?

DELL, Northern Tool, Yard Card, John Deere, Uline, Lowes

I just bought about $15k worth of Lawn equipment (some at 3.9% and some at 0.0%apr) with no SS# given. Strictly EIN and Biz credit score of 96.

[CharlotteOutdoorImpact]

I just changed to LLC... less than a year ago. How long should I wait to apply for anything else.. I have the office depot, staples, exxon, and shell. I tried dell and was turned down.(that was 3 months ago.) my paydex is 80... any input will be helpful.

[bran3225]

Has anyone got the home depot m/c with just being a SP and not give your PG. I Fill out the app twice once with the ref# 26 then one with 28 anyone know what that means.

[Innovative Landscape Design, Inc.]

Has anyone got the home depot m/c with just being a SP and not give your PG. I Fill out the app twice once with the ref# 26 then one with 28 anyone know what that means.

I applied to HD and got a code of 25 and then spoke to a Credit Manager. I was told that you need at minimum 2 years of being in business otherwise they require a PG whether it is a $100.00 limit or $10000.00 limit...

[lawnman_scott]

Has anyone got the home depot m/c with just being a SP and not give your PG. I Fill out the app twice once with the ref# 26 then one with 28 anyone know what that means.I did. They asked for it but I forgot to fax it and figured I wouldnt get the account approved. I got the cards in the mail with a limit of 5 times what I asked for. This was awile back so it may have changed now.

[bran3225]

Lawnman did you already have established credit also what ref# did you get. Thanks
Brandon

[grassmanak]

i got 15000 from HDMC i am a sole prop 3 years in bus they also asked me for a PG but i never sent it in.

[lawnman_scott]

Lawnman did you already have established credit also what ref# did you get. Thanks
Brandon
I had established credit. I have no idea what ref# I got, it was about 2 years ago.

[Hortus]

It appears that Staples requires a PG now, with past 2 years income and business license.

My situation, I just received my EIN # for my start up biz as a LLC on 07/10/08. Currently working on the business license, liability insurance and have applied for that duns #, as I've worked with the grant process and have been asked to see about getting involved in the subbing aspect, as I'm state certified in landscape design and contracting, with also being ISA certified Arborist.

My personal credit rating is in the 700-800 range. In order to build up the business credit, is it so bad to fill in a PG in the beginning? I would really appreciate some feedback from you more experienced/knowledgeable members out there on this.

I've been in the green industry just under 25 years, with 20 of that in the landscaping/arboriculture/IPM segment. The last 10 with gubment and have been slowly reconnecting with nurseries and suppliers that I've worked with through the years on my current status change, as an independent. With that perspective, are there additional sources to look at as far as building biz credit rating?

I thought about starting up a business account with my credit union, that I've been a member of since '83 and where I've opened a number and satisfied an increasing amount of loans limits through the years. Maybe obvious answer, but would that be a source to help in building up my company and in effect act like a net 30?

2 days of reading this thread and thanks for the information thus far!

[Hortus]

My personal credit rating is in the 700-800 range.

Wrong range, 850-900 from last check.

[Hortus]

Starting to get ahead of the learning curve here and have found some of the answers to my questions. Apparently your business credit is linked closely to your personal credit, although seperate technically, when your starting out.

Good to know the hard work in keeping my personal FICO score high, has opened better opportunities for my business.

[LandM04]

In business for 4 years, I did not start building credit until early this year.

I received my staples in feb, and Lowes in early june.

What else should I apply for and how long should I wait?

thanks

[MFS]

Well I have tryed everything that this form has said to do and they will not give me the credit what am I doing wrong:cry:

[sweetz]

I need to fully read this thread. :dizzy:

[quadracer_13]

Ok i am starting to understand this thread about the DUN number and all that. I have not yet started up my business because I am looking for ways to start getting equipment without using my own personal info. Basically all I need is a mower. Now lets say I get my business started tomorrow and get my DUN number, How long will it take before i can start getting all these accounts with staples and lowes and all that? and this is a little off topic but is there any way to get money for a mower with me just starting up the business?

[sbcboy1]

What if you have bad personal credit and trying to start a small bueiness?

[littleo92]

what the heck is a PG # and DUN # and whatdoes it stand for

[Andy77]

Hi,

Just saw this thread. First post here so please excuse me if this has been addressed already but about the LLC vs S corp...

This really apples and oranges here. An LLC is the type of business entity, specifically a type of corporation. It has indeed become popular in recent years.

Other business entities are sole proprietorship, partnership, and corporation (which includes LLC's)

On the other hand an "S corp" is a decision as to how you would prefer to be taxed by the IRS and only applies to corporations meeting certian criteria.

In other words it's like filing your taxes as "Married, filing separately, and Married filing jointly" both have certain advantages and disadvantages.

Certain corporations can elect to be taxed as an "S corp" or a "C corp" and may offer certain tax advantages depending on your situation. This is a decision you should make with an accountant knowledgable in such matters. S/he may also advise you on whether you should be incorporated at all as far as tax advantages.

Some lawyers specialize in tax issues and they may be tapped for an opinion here too.

Most of the time I'd say lawyers are best at keeping your business legal, but it depends on the mindset of the lawyer.

FYI I am neither a lawyer nor an accountant, just a guy who has spent a few years in various businesses.

Hope this helps.

Andy

[Innovative Landscape Design, Inc.]

Hello everyone, I wanted to update everyone on my progress since I first read this thread a few months back. I started as a SP and obtained my DUNS# and my EIN, I then was approved for a Staples card for $750.00 the next day and was declined for almost everything else.

I incorporated three days ago for a total cost of $265.00 and was approved that day and in the system, yesterday i applied for my EIN under a corp and received that as well, I obtained my bank account roughly three months ago also. I also recently made an investment in a compnay of $1500.00 which establishes and builds my business credit profile for me.

I will update you on this as it goes along, but all services are 100% guaranteed in writing. I just got off the phone with Office Depot who declined me for a $300.00 limit when I first started and today they approved me for a $750.00 line of credit. Things are working out for the best thus far and I will kepp everyone posted on my progress.

[Andy77]

Hi,

Thanks for the update. Credit can be especially hard to get these days, even if you do everything right.

I think the importance of incorporating should not be overlooked. As your business grows, you will find this step even more critical because you've now separated your personal and your business credit. One huge difference is someday you'll need a loan. The lender will turn down a sole proprietor even though all he's had "business credit" for years. A corporation is judged by different rules.

You didn't say whether you were required to personally guarantee anything. I suggest you resist, even if it means being turned down. Not only do you put your personal assets at risk, you also make it harder for your business to "fly solo".

One final note here. The current credit crunch can present problems but it they are not insurmountable. Keep in mind, lenders have two goals in mind. First they want to be paid back. Second, they want to make a profit.

They cannot make a profit if they don't lend money. Nor can they profit from bad loans. Profits are built in to their loans so you need to focus on presenting yourself as someone who a good risk.

Andy

[Innovative Landscape Design, Inc.]

Hi,

Thanks for the update. Credit can be especially hard to get these days, even if you do everything right.

I think the importance of incorporating should not be overlooked. As your business grows, you will find this step even more critical because you've now separated your personal and your business credit. One huge difference is someday you'll need a loan. The lender will turn down a sole proprietor even though all he's had "business credit" for years. A corporation is judged by different rules.

You didn't say whether you were required to personally guarantee anything. I suggest you resist, even if it means being turned down. Not only do you put your personal assets at risk, you also make it harder for your business to "fly solo".

One final note here. The current credit crunch can present problems but it they are not insurmountable. Keep in mind, lenders have two goals in mind. First they want to be paid back. Second, they want to make a profit.

They cannot make a profit if they don't lend money. Nor can they profit from bad loans. Profits are built in to their loans so you need to focus on presenting yourself as someone who a good risk.

Andy

Andy,

You are so correct on the aspect of placing your personal credit seperate from your business, I was asked to personally guarantee Office Depot and Shell when I first applied, now that I am incorproated and have things reporting on D&B they are happy to extend credit without a PG. Funny how things work out and yes you are correct there is a huge credit crunch, but again these companies need to extend credit to stay in business and of course their primary goal is to make money as you have expressed.

With the help of the credit building company I have selected I have no worries that things will turn out for the best. I mean what more can you ask for 100% GUARANTEE in writing or your money back no questions asked... Thanks again for the reply Andy and I wil keep everyone updated as I move along.

Charles

[Innovative Landscape Design, Inc.]

OK, just applied for OfficeMax and got a $500.00 limit...

[Self_Paid1]

Are you a LLC or S corp

[Self_Paid1]

Are You ar LLc

Andy,

You are so correct on the aspect of placing your personal credit seperate from your business, I was asked to personally guarantee Office Depot and Shell when I first applied, now that I am incorproated and have things reporting on D&B they are happy to extend credit without a PG. Funny how things work out and yes you are correct there is a huge credit crunch, but again these companies need to extend credit to stay in business and of course their primary goal is to make money as you have expressed.

With the help of the credit building company I have selected I have no worries that things will turn out for the best. I mean what more can you ask for 100% GUARANTEE in writing or your money back no questions asked... Thanks again for the reply Andy and I wil keep everyone updated as I move along.

Are You ar LLc
Charles

[Innovative Landscape Design, Inc.]

Are You ar LLc

Self I am an S-Corp..

[Self_Paid1]

What are the Cost there for that
Self I am an S-Corp..

[Innovative Landscape Design, Inc.]

What are the Cost there for that

Well, I am located in Mass and if I filed through the mail it is $275.00 just to the secretary of state, but I filed online which was $250.00 plus a $15.00 processing fee they charge. So i in turn ended up saving $10.00. Now you do need to have the articles prepared and once your incorporated you need to have your by-laws done so in reality to do an Incorporation with an attorney your looking at $800.00-$1500.00..

I had the articles and by-laws done by an attorney, but he is a family friend so there was no charge except to file. I found this place online a few weeks back and you should really check it out as it will only cost you $399.00 to incorporate in TN as that is where I believe you are from.

http://www.companiesinc.com/services/corporate-credit/indexd.asp?c1=ppc&source=google_B&kw=building_business_credit_exm&cr5=1931895371

Hope this helps and good luck in your quest.

Charles

[McFarland_Lawn_Care]

All it takes is a LOT of patience and baby steps to build your True business credit. I am LLC and that seems to work great for my business. I got turned down for EVERYTHING a few months ago - they all sent me forms for personal guarrantees but I turned them all down. Now, a few months later, I'm getting accepted by all kinds of companies for credit with NO personal information at all. I am soooo happy. My idea is to get my personal debt to income ration down so that I can get a house loan within the next year or so. It will happen for you if you are patient and determined. Don't get pushed around by the big credit companies and READ READ READ online forums....I have found the following website forum SOOO helpful!! Best luck to all of you, God Bless!!

http://www.creditboards.com/forums/

Check it out sometime and read away!! =)

[Andy77]

Hi Charles,

Thanks for the update.

I'd like to clarify something about corporations as I see what appears to be some confusion. (Please keep in mind my "expertise" is all self-taught - I'm neither a lawyer nor an accountant)

A corporation can be in different forms depending on what state you live in. An LLC or Limited Liability Company is a newer type of corporation that has grown in popularity in recent years. You could liken it to a "lite" corporation. Ususally they are easier to form and have fewer stringent rules to follow for corporate meetings and such. For the most part it is intended for companies with few owners (shareholders) and is often ideal for small businesses.

The older, more traditional corporation often requires regular shareholder and director meetings and can issue more stock to investors.

While there are other differences, these reflect why these types of corporations exist in the first place. They differ from state to state.

As far as "c" and "subchapter s" corporations are concerned, these are elections for tax purposes as defined by the Internal Revenue Service so they may be treated differently for taxation. The advantage for many businesses is revenue is treated as ordinary income and is not taxed at the corporate rate. The disadvantage is (I believe) is you cannot retain any earnings for next year.

To the best of my knowledge, most states recognize this election and extend the same rules to your revenue as the feds do.

That said, it is generally wise to consult your attorney in regards to what type of organization is best for you legally. And refer to your accountant or tax lawyer for advice on what makes sense taxwise. A lot depends on your goals and dreams.

Personally, I consider the concept of "double taxation" a bit of a myth. Double taxation is the red flag people wave when you mention incorporating. The idea is your corporation is taxed when it declares income and then you are taxed again when you receive a dividend. While this is true, there are ways around this.

Say you end up with a profit of $10,000 and want to give yourself a bonus. If you pay 35% on this in corporate taxes, you'll end up with $7500. And if you pay yourself a $7500 dividend (assuming you own all of the, say, 1000 shares issued you would delcare a dividend of $75 per share.) this dividend would be taxable at your ordinary income rate. If this rate is 35% then you would pay an additional $2625 in taxes. Ouch indeed.

But if your company decided to give you a bonus of $10,000 then the company would write off this the $10K as an expense and you would pay ordinary income tax on the $10K.

Again, check with your accountant for details. I'm not including anything else that may be payable on this like SS and Medicaid taxes and so forth in the example. I also won't preclude some glitch that may make this solution unworkable.

I say double taxation is a bit of a myth because, while it is a real danger, it generally only applies to dividends. Since you control dividends, you should have a great deal of control over these.

When it comes right down to it, a regular or LLC may not be as important as your electoin for tax purposes (c or subs). What is important is what you are allowed to do within the constraints of your corporation.

Andy

[Innovative Landscape Design, Inc.]

Hi Charles,

Thanks for the update.

I'd like to clarify something about corporations as I see what appears to be some confusion. (Please keep in mind my "expertise" is all self-taught - I'm neither a lawyer nor an accountant)

A corporation can be in different forms depending on what state you live in. An LLC or Limited Liability Company is a newer type of corporation that has grown in popularity in recent years. You could liken it to a "lite" corporation. Ususally they are easier to form and have fewer stringent rules to follow for corporate meetings and such. For the most part it is intended for companies with few owners (shareholders) and is often ideal for small businesses.

The older, more traditional corporation often requires regular shareholder and director meetings and can issue more stock to investors.

While there are other differences, these reflect why these types of corporations exist in the first place. They differ from state to state.

As far as "c" and "subchapter s" corporations are concerned, these are elections for tax purposes as defined by the Internal Revenue Service so they may be treated differently for taxation. The advantage for many businesses is revenue is treated as ordinary income and is not taxed at the corporate rate. The disadvantage is (I believe) is you cannot retain any earnings for next year.

To the best of my knowledge, most states recognize this election and extend the same rules to your revenue as the feds do.

That said, it is generally wise to consult your attorney in regards to what type of organization is best for you legally. And refer to your accountant or tax lawyer for advice on what makes sense taxwise. A lot depends on your goals and dreams.

Personally, I consider the concept of "double taxation" a bit of a myth. Double taxation is the red flag people wave when you mention incorporating. The idea is your corporation is taxed when it declares income and then you are taxed again when you receive a dividend. While this is true, there are ways around this.

Say you end up with a profit of $10,000 and want to give yourself a bonus. If you pay 35% on this in corporate taxes, you'll end up with $7500. And if you pay yourself a $7500 dividend (assuming you own all of the, say, 1000 shares issued you would delcare a dividend of $75 per share.) this dividend would be taxable at your ordinary income rate. If this rate is 35% then you would pay an additional $2625 in taxes. Ouch indeed.

But if your company decided to give you a bonus of $10,000 then the company would write off this the $10K as an expense and you would pay ordinary income tax on the $10K.

Again, check with your accountant for details. I'm not including anything else that may be payable on this like SS and Medicaid taxes and so forth in the example. I also won't preclude some glitch that may make this solution unworkable.

I say double taxation is a bit of a myth because, while it is a real danger, it generally only applies to dividends. Since you control dividends, you should have a great deal of control over these.

When it comes right down to it, a regular or LLC may not be as important as your electoin for tax purposes (c or subs). What is important is what you are allowed to do within the constraints of your corporation.

Andy

Andy,

Very well put my friend and 100% true with the exception that you are not double taxed under an S-corp, but I am sure that you were aware of this already. Other then that I did consult both my lawyer and accountant and we made the determination that the S-corp would work best for me.

[Andy77]

Hi Charles,

Thank you and thanks for the clarification. When I stated "The advantage for many businesses is revenue is treated as ordinary income and is not taxed at the corporate rate. The disadvantage is (I believe) is you cannot retain any earnings for next year. "

It may have been clearer if I had said "The advantage of an s corp election is all revenues are treated as regular income..."

In any case, it's heartening to learn things are working out for you credit-wise.

Andy

[Innovative Landscape Design, Inc.]

Hi Charles,

Thank you and thanks for the clarification. When I stated "The advantage for many businesses is revenue is treated as ordinary income and is not taxed at the corporate rate. The disadvantage is (I believe) is you cannot retain any earnings for next year. "

It may have been clearer if I had said "The advantage of an s corp election is all revenues are treated as regular income..."

In any case, it's heartening to learn things are working out for you credit-wise.

Andy

Andy,

Thank you It is always a pleasure to communicate with such an intelligent well spoken individual such as yourself and the advise and help is always welcome and greatly appreciated. I have also been doing some research and it seems as though an LLC-S is a great choice as well and is something I can always transfer to if decided, but I do trust the judgement of the individuals I retained and I am hoping they did not steer me wrong.

Also here is a link to a site I found with some great info on the differences between the LLC and the S-corp, I hope others find it as helpful as I did.

http://www.powerhomebiz.com/vol136/structure.htm

[Innovative Landscape Design, Inc.]

Just another update everyone recently approved for 30 lines of service with Srint with no deposit or spending limit. I have had Nextel in the past and that will be the only thing I utilize them for is the direct connect. Will update as things progress..

[Andy77]

Hi Charles,

Gorsh, you make me blush.

About the LLC you are right again . Thanks for that link. Good information.

I didn't realize LLC's had the same "flow through" option of corporate to personal income as a subchapter s. I guess I lost interest when I realized my own needs lean toward a standard corporate structure as I like the flexibility it offers.

That's one reason I post to places like this one - I often learn more than I have to offer.

Andy

[Innovative Landscape Design, Inc.]

Hi Charles,

Gorsh, you make me blush.

About the LLC you are right again . Thanks for that link. Good information.

I didn't realize LLC's had the same "flow through" option of corporate to personal income as a subchapter s. I guess I lost interest when I realized my own needs lean toward a standard corporate structure as I like the flexibility it offers.

That's one reason I post to places like this one - I often learn more than I have to offer.

Andy

Andy,

Anytime, so you are structured as a C-Corp am I correct? Now what flexibility do you like over a S or an LLC Andy?

[paydex]

i haven't been at this thread in awhile- someone just PMed me a link to the thread to hear my comments.

let me scroll back and respond to them one by one...

[Andy77]

Hi Charles,

Sorry for the late response, I didn't see your post.

I disbanded my corp some time ago. It was a straight c corp.

However I'm looking into starting another one soon. It will be a c corp also.

As far as a sub s election vs a straight c is concerned, what I like about the c corp is the ability to retain earnings and that allows money to be invested back into the business. Much depends on what kind of profits and expenses you are expecting. Generally speaking, a year of high expenses relative to profits may be better off electing to go sub s. But that's something to work out with an accountant. S/he may see stuff others miss.

As far as an LLC is concerned, my understanding is is is viewed differently from a legal perspective. A c corp is viewed as a legal "person". A LLC is treated the same as a sole proprietorship or a partnership by the IRS. This alone is enough to make me steer away from LLCs. Some say the liability limits are very secure either. This tells me my personal assets would still be at risk.

But what I really like about a c corp is what you can do with profits. Please check with your qualified tax guy to substantiate my claims - I am just a layman NOT a tax professional nor am I qualified to offer legal advice. You can set up very favorable 401K plans (be careful here as the rules change as you add employees), your medical plan is totally deductible as a corporate expense. You can even reimburse for out of pocket medical expenses for your employees.

There are other advantages but these are the ones I really like.

In addition, you can always elect to be treated as a sub s if it's to your benefit to do so. It's a legal and accepted strategy.


Overall, if you're going to be profitable and want to grow those profits tax free (in a retirement account) and/or provide yourself and your employees with an excellent health care plan, re-invest money to make your business grow, etc. then a c corp is the way to go.

Andy

[Allens LawnCare]

I'm guessing in some way you work or get paid from Dunn

[paydex]

Well, I am located in Mass and if I filed through the mail it is $275.00 just to the secretary of state, but I filed online which was $250.00 plus a $15.00 processing fee they charge. So i in turn ended up saving $10.00. Now you do need to have the articles prepared and once your incorporated you need to have your by-laws done so in reality to do an Incorporation with an attorney your looking at $800.00-$1500.00..

I had the articles and by-laws done by an attorney, but he is a family friend so there was no charge except to file. I found this place online a few weeks back and you should really check it out as it will only cost you $399.00 to incorporate in TN as that is where I believe you are from.

http://www.companiesinc.com/services/corporate-credit/indexd.asp?c1=ppc&source=google_B&kw=building_business_credit_exm&cr5=1931895371

Hope this helps and good luck in your quest.

Charles

you do not have to incorporate in your state of residence by law. however, it is *usually* the right way to go, especially since in a service business like landscaping your primary state of business is the one you work in... and so if you did open a foreign corporation (meaning a corp from another state) you would need to pay additional fees to get a business license in your state to do biz as a foreign corporation.

[Innovative Landscape Design, Inc.]

you do not have to incorporate in your state of residence by law. however, it is *usually* the right way to go, especially since in a service business like landscaping your primary state of business is the one you work in... and so if you did open a foreign corporation (meaning a corp from another state) you would need to pay additional fees to get a business license in your state to do biz as a foreign corporation.

At what point did I state he needed to inc in his home state?

[paydex]

Just another update everyone recently approved for 30 lines of service with Srint with no deposit or spending limit. I have had Nextel in the past and that will be the only thing I utilize them for is the direct connect. Will update as things progress..

sprint and nextel are one company these days.

but you should know that cellphone tradelines are overlooked BIG TIME as vendors that report to D&B and Experian!

if you are a small business and need the tradlines, sometimes it pays to split the company into two account- like (in a two person firm) you sprint and your partner T-Mobile...

[paydex]

... you should really check it out as it will only cost you $399.00 to incorporate in TN as that is where I believe you are from.

Did I misunderstand? sorry!

[Innovative Landscape Design, Inc.]

sprint and nextel are one company these days.

but you should know that cellphone tradelines are overlooked BIG TIME as vendors that report to D&B and Experian!

if you are a small business and need the tradlines, sometimes it pays to split the company into two account- like (in a two person firm) you sprint and your partner T-Mobile...

Yes I know they are one company and the approval of Sprint had nothing to do with tradelines being reported..

[Innovative Landscape Design, Inc.]

Did I misunderstand? sorry!

Yes, you did misunderstand, he was simply asking how much it costs to incorporate and I explained and since he is in TN I offered that link to him to check out..

[paydex]

I also recently made an investment in a compnay of $1500.00 which establishes and builds my business credit profile for me.


you paid $1500 to a company to build your business credit for you? what do they do exactly for you that you don't think you would have gotten (in terms of credit thus far) had they not been involved? are you satisfied with the results from them for what you paid?

thanks.

[paydex]

Wrong range, 850-900 from last check.

You Sure? Doesn't sound right to me... unless you aren't talking about the FICO Score, but some fake one offered by some online sites... which isn't anything close, in many cases, to what a lender sees when they pull your file!

[Innovative Landscape Design, Inc.]

you paid $1500 to a company to build your business credit for you? what do they do exactly for you that you don't think you would have gotten (in terms of credit thus far) had they not been involved? are you satisfied with the results from them for what you paid?

thanks.

Actually paydex I walked on those individuals as once we agreed on the price ands terms and we proceeded to finalize the paperwork I rechecked the BBB and they went from a CCC rating with no complaints to an F rasting with 6 complaints. Within another 48 hours they were up to 12 complaints and they now claim they are false.

What they claimed they could do was bring the paydex up to a minimum of 80within a 120 day period, secure 5 vendor tradelines that report, 2 major credit cards with a 10-20k credit limit within 6 months, equipment lease of 25k within 90 days, ford lease after 120 days. Ok paydex I am off to work and will advise more later this evening...

[paydex]

so did you get your $1500 back?

[Innovative Landscape Design, Inc.]

so did you get your $1500 back?

Pay I never gave them the money, we had contracts and stuff and I was ready to sign and fax back and pay, but they kept pushing it off and so forth so it worked out for the best.

[lawnman_scott]

What they claimed they could do was bring the paydex up to a minimum of 80within a 120 day period, secure 5 vendor tradelines that report, 2 major credit cards with a 10-20k credit limit within 6 months, equipment lease of 25k within 90 days, ford lease after 120 days. Ok paydex I am off to work and will advise more later this evening...
I actually did all that myself by following this thread from the beginning. I still hover between 95-97, once hit 99.

[Innovative Landscape Design, Inc.]

I actually did all that myself by following this thread from the beginning. I still hover between 95-97, once hit 99.

Lawnman, I have been following this thread for over 6 months and have and continue to do what is within this thread, however I am having trouble finding two more vendor accounts that report that as well do not require a PG.

To date I have Staples, Office Depot, OfficeMax and NEBS which NEBS does not report.

[paydex]

How about Sprint? T-Mobile? RapidForms? Graingers?

did you try any of these?

if your ell is on your personal name, you can do a "transfer of responsibility" and transfer the billing to the corp. (first get the corp approved for an account. the'll tell you how many lines you are approved for.)

[Innovative Landscape Design, Inc.]

How about Sprint? T-Mobile? RapidForms? Graingers?

did you try any of these?

if your ell is on your personal name, you can do a "transfer of responsibility" and transfer the billing to the corp. (first get the corp approved for an account. the'll tell you how many lines you are approved for.)

Paydex, I already have been approved for 30 lines of service with Sprint and have 1 line with them. What is "ELL" as you have stated in the above? Ok, I am off to work and will talk with you after 5pm.. Thanks pay and have a great day...

[lawnman_scott]

Lawnman, I have been following this thread for over 6 months and have and continue to do what is within this thread, however I am having trouble finding two more vendor accounts that report that as well do not require a PG.

To date I have Staples, Office Depot, OfficeMax and NEBS which NEBS does not report.
What about shell, office depot, home depot, lowes, and dell. Some may have changed their policy by now, but those didnt need a p/g when I did them. Once you get a couple more and keep your score high, above 80 you can apply for the home depot mastercard, or ford motor credit if that is something you are looking at.

[Innovative Landscape Design, Inc.]

What about shell, office depot, home depot, lowes, and dell. Some may have changed their policy by now, but those didnt need a p/g when I did them. Once you get a couple more and keep your score high, above 80 you can apply for the home depot mastercard, or ford motor credit if that is something you are looking at.

Shell declined unless I PG it, office depot I got, home depot said yeah I can have it if I PG it as well and dell said the same thing..

[Innovative Landscape Design, Inc.]

The other thing that is pissing me off is I have not Paydex score yet and I have had Staples reporting for almost 6 months now... maybe once Officemax and office Depot report something will show up.

[Innovative Landscape Design, Inc.]

You can use Key bank equipment leasing program. key . com. Fill out app and fax it in. No PG and up to 50k no financials.

Key Bank required a PG..

[lawnman_scott]

The other thing that is pissing me off is I have not Paydex score yet and I have had Staples reporting for almost 6 months now... maybe once Officemax and office Depot report something will show up.I never have seen my paydex, if that is the score on dnb. I see mine on experian. smartbusinessreports.com, that is experian. You have to pay for it but its like $14 a month. Very easy and delailed.

Maybe some things have changed due to the economy and the banking situation today. I followed all the advice from willretire@40 and it was incredibly easy. things could be getting tighter though.

[Innovative Landscape Design, Inc.]

I never have seen my paydex, if that is the score on dnb. I see mine on experian. smartbusinessreports.com, that is experian. You have to pay for it but its like $14 a month. Very easy and delailed.

Maybe some things have changed due to the economy and the banking situation today. I followed all the advice from willretire@40 and it was incredibly easy. things could be getting tighter though.

Lawnman the issue I am having with spending the money for the experian is when I do a search on that website for my business it tells me that the business is not located.

[Innovative Landscape Design, Inc.]

Update... I started my business back roughly 5 months ago and have been following this thread and the help of others. To date this is what i have:

Staples-$1500.00
Office Depot:$750.00
OfficeMax:$500.00
Sprint: 30 lines no limit and no deposit
Amazon:$1000.00 (just got this 5 minutes ago I didn't want anything higher as I am only looking to build my credit not destroy it with meaningless credit)

[Innovative Landscape Design, Inc.]

Let's also add Northern Tool for $500.00...

[Innovative Landscape Design, Inc.]

Hello guys I need to know if there is a way to register my business cell phone with 411 so if people call they get that number? I do not want another bill and another number for people to have to call... Thanks

[old oak lawn]

Let's also add Northern Tool for $500.00...

did you have to give a pg for Northrern tool , and how did you apply thanks

[Innovative Landscape Design, Inc.]

did you have to give a pg for Northrern tool , and how did you apply thanks

No I did not have to give a PG for Northern. I applied online and it said that at the time they could not approve the account based on the information provided, but that I could call and have it further reviewed and i did so. The lady said that the reason it kicked it out is because I had already been approved for a $500 limit and I would have my cards in 2-3 weeks.

The funny thing is that was the first time I applied for northern so I was a little confused, but I said ok thank you very much and was like Ok whatever she says.

[joelbouch]

ok guys i need help on this been reading the fourm applyied for a dnb number but hasnt came back yet and there not open today do i have to wait to get the dnb number then apply for staples and office dept or can i do it now with my ein number am a retired firefighter and my disabilty will be up in 3 months so decdie to get my company going full time so all the help and advice and steps will be apperacted if some one could walk me though this big process greatly apperctied and i will be in your debt so hope you guys can help thanks all

[joelbouch]

ok guys i filed for a new ein number as a llc but what enity do i want waht form do i fill out

[joelbouch]

ok just wana say i try this process it dont work what do i do now

[Innovative Landscape Design, Inc.]

ok guys i filed for a new ein number as a llc but what enity do i want waht form do i fill out
You really need to read the entire thread and go from there..
ok just wana say i try this process it dont work what do i do now

It is getting harder and harder to get the credit due to the credit crunch.. Just read the thread and it will work for you..

[joelbouch]

You really need to read the entire thread and go from there..


It is getting harder and harder to get the credit due to the credit crunch.. Just read the thread and it will work for you..

i have read the theard did all turned down by staples and office depot

[weasel]

Just saw the post and read only 9 pages. Just make sure that this isn't the same as using a EIN for credit and not your SS# I know the Fed's are cracking down on this as well as piggybacking.

[Innovative Landscape Design, Inc.]

Hey everyone, I wanted to update you all on a couple things. First and foremost Northern Tool and Office Max are both written by HSBC and they will not approve you for both accounts without a strong credit profile. As I stated I was approved for Office Max for $500 and Northern Tool for $500 well this is not the case.

I was approved for Office Max for the $500 and I did receive my cards and when I called to find out about Northgern Tool the lady said yeah you have already been approved for $500 and your cards should arrive within 2-3 weeks. Well, what she meant was I was approved for Office, but not Northern and the cards she meant were for Office which I already received.

Now I did not know this until I called back to find out where my cards for Northern were. Well, this is the interesting thing the lady in credit said oh yeah by the way we also cancelled your Office Max account because you have not been incorporated for 2 years or more so if you wanna keep it you need to PG the account. I said to her so how do I get approved and now you are telling me that you are closing an account you just approved?

She replied with well yeah the computer approved you and it doesn't know what our requirements are so sorry about that. I replied with no problem close the account and you will never get my business again, her reply was ok no problem. And I do mean I will never utilize this company again I just could not believe that. On a more positive note I did go to e-update tonight for D&B and I finally have a paydex of 80 which was nice to see, but still do not have a rating as of yet.

[NEW CITY LAWN CARE LLC]

Okay guys, I've had my DNB # for a little while, I tried to apply for my first credit today with Staples as mentioned, I got the screen telling me to call in to complete the application, so I did, I called and lady asked me a few questions, and said I didn't have any history reporting on both the Dunns report and Equifax, basically no credit history, she did match my info though to both those reporting agencies, so I'm in the system, and she said a Personal Guarantee would be required. Any Ideas or suggestions?

[joelbouch]

hey ive been in that situtaion for awhile now tried asking for help but ive gotten no help wish i could help but your not the only one

[thegreek]

Yeah I got mine 2 days ago so I wanna see this time line I hope to see something after the 2nd I'm sure nothing sooner. i called staple and nothing had been processed. Neither my ein I got weeks ago r my duns I got 2 days ago, But faxed me forms

[FordLawnLandscape]

OKAY ! Got my Duns # , and my EIN #. How long do i need to wait before applying for credit at Staples ? Isnt it 24hrs u gotta wait w/ the Duns # ? I think the EIN is ready to go immediatley, just not registered w/ the IRS for 2 weeks correct ??? This all sound right guys ?

[FordLawnLandscape]

Alright , so I now have both my DUN numb. and my EIN. Number. Went to staples filled out the aplication. As has everyone else on here it tells me to call to verify, so i do. Still nothing she tells me that i'll recieve info for me to further fill out in the mail in 7 days ?? She was all talking about a PG. What did i do wrong ? Didnt see anywhere for me to put in my DUN number. Under Taxpayer ID i put in my EIN, she said that was correct. OK guys WHAT did i do wrong ? I Consider myself a farely intelligent guy how did i SCREW this us :confused:

[FordLawnLandscape]

WAIT wait wait .. Genius here (myself) may have figured it out. I just got both the DUN and EIN number today ... wasnt i supposed to wait 24 hours before using either ? but there agian i never used my DUN number , didnt see a place to type it in ??? sure i'll get burned here but :dizzy:

[willretire@40]

Things have now changed people. Business credit is going away. I wouldnt waste my time anymore if your not going to PG anything.

[joelbouch]

Things have now changed people. Business credit is going away. I wouldnt waste my time anymore if your not going to PG anything.

ill say this to everyone give up if your not going to pg anything your getting zip so give up for now times are chaged and differnt and not for the better

[NEW CITY LAWN CARE LLC]

Yeah, the credit crunch is happening now! I've applied at Lowes and get a response I'm denied because of a Low amount of trade lines, staples was denied for no business credit history. Can't I get a secured credit card or something similar to establish some trade lines under the business?

[willretire@40]

apply for net 30 accounts and maybe you can get in with lowes. Home Depot is canceling there Business Mastercard as of Jan 1,2009

[grass-scapes]

I haven't gotten a letter stating they were cancelling my Home depot business mastercard. I got it earlier this year (following some of the ideas in this thread, btw Which also netted me a revolving HD card, northern tool, staples, Office depot, sams, Dell) Dell reduced my line from 20,000 to 5,000, but I would have never bought 20 grand in computers anyway. I won't come close to 5000. I usually build my own computers anyway.

[thegreek]

the site shows question marks on the ratings and says i have to pay to see them "My Business Scores (available once purchasing a report on your company)
? ? ? ?" noo please help.

[lawnman_scott]

I haven't gotten a letter stating they were cancelling my Home depot business mastercard. I got it earlier this year (following some of the ideas in this thread, btw Which also netted me a revolving HD card, northern tool, staples, Office depot, sams, Dell) Dell reduced my line from 20,000 to 5,000, but I would have never bought 20 grand in computers anyway. I won't come close to 5000. I usually build my own computers anyway.He probably meant they werent taking any new customers. I havent heard anything about mine either.

[grass-scapes]

He probably meant they werent taking any new customers. I havent heard anything about mine either.

Makes sense I guess. Maybe they are going to do what lesco/JDL did and get a new provider for their credit. That was a big hassle. They cancelled lesco credit and moved it to JD. Deere is harder to get credit with plus having 2 bills to keep up with until the lesco is paid off. I think the Deere credit is a better rate, but I can't say that with all certainty. I do know lesco is right around 24 percent though.

[ALLPro Landscaping]

I can see this post goes far back, I was going to apply for a dun # I am incooperated and have an ein # will this number still help my buisness line

[sweetz]

It can't hurt. But times, they are a changing.

[cpel2004]

Willretire any new updates on the credit front? I herd Jerry Jones used his HD MC to build the new Cowboy Stadium?

[willretire@40]

If you don't have a 680 personal credit score then the business credit isn't for you. Credit game is over and it is time for everyone to do the cash thing. Imo
Posted via Mobile Device

[fiveoboy01]

Whoops LOL

[Lefet]

If you don't have a 680 personal credit score then the business credit isn't for you. Credit game is over and it is time for everyone to do the cash thing. Imo
Posted via Mobile Device

So are you saying there's no need to go back and read this entire thread?

[willretire@40]

Exactly Lefet

[Duekster]

If you don't have a 680 personal credit score then the business credit isn't for you. Credit game is over and it is time for everyone to do the cash thing. Imo
Posted via Mobile Device
Even with a score in the low 700's getting business credit is hard at banks

[ivan.alfaro804]

Ok i am having alot of trouble with all of this everytime i apply for credit it they ask me for my personal information...