Discussion in 'Starting a Lawn Care Business' started by jacob land and, May 4, 2006.

  1. jacob land and

    jacob land and LawnSite Member
    Messages: 142

    i have been running into problems lately when i have tried to finance my equiptment, i have no credit because i just turned 18 and no one will co-sign for me so it is starting to keep me from growing. the only thing i can think of to fix this problem is to get a credit card but i really would like to speed things along as quick as possible, if i have a credit card in my name how long will it take to give me decent credit? also how hard is it to get a credit card in your buissness' name?
  2. Lynden-Jeff

    Lynden-Jeff LawnSite Bronze Member
    Messages: 1,405

    What kind of equiptment are you looking for? I highly doubt you can get as credit card to start with a balance of more then 1000. I just went through it since im 19. Luckily I have some investments so my investor can get me a line of credit but it really sucks trying to get a credit card when your 18. Becareful if you do get one. You don't want to over extend your self.

  3. Reliable Lawns

    Reliable Lawns LawnSite Member
    Messages: 95

    Cash is king! Try not to get into debt to fast, save your money and pay cash as you go if possible, I know, easier said than done, but do try. For your question, I would guess 6 months to a year of paying on time, and not charging more than a 1/3 of your limit at any given time will help out your credit score. Good Luck
  4. rickt

    rickt LawnSite Member
    Messages: 47

    To get credit under your business name open up a account with a company that reports your payments to the credit bearus.

    The way i was able to obtain credit is i opened up a account with Viking Office Products, they gave me $100.00 worth of credit on the account, (the terms were NET 30) after a few months they had raised my limit to $1,000 and then within a year i was at $10,000 limit i never reached the limit but purchased small things every now and then and paid on time, so basically they reported my good credit which helped my business get credit with Citibank.

    Viking does sell there products a bit high but thats the easiest way to establish credit, some stuff you can go out and buy cheaper but paying a little more will help you in the long run with your credit.

    I know that they merged with Office Depot so im not sure if they still offer Net 30 terms so you might want to check and see, as long as your first order is less than $25-30 they will open you a account with a $100 limit. You must have a EIN if you want to get credit though as that is sort of your "social security" number on the business side.
  5. topsites

    topsites LawnSite Fanatic
    Messages: 21,653

    Man you hit the nail on the head, I'm 40 years old and started my business 5 years ago and what I did was save-save-save and worked my tail off for 3-4 years and never went nowhere and when I had 5 thousand dollars, I finally got going.

    I have great credit today but you know what? I almost never use it, and when I do, I always pay it off in full so never no interest because those fees and fines are a killer you just don't know lol

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