I wish someone would answer this one, because i've been interested to find out about this too. It sounds way too easy.
Doesnt anybody here have information on this???
My understanding is that the new corporation is just like a new person coming out of school. No bad debt, no good debt, no credit history, no bank balance, no income. In order for the Corporation to establish credit it will have to provide information to potential creditors indicating an ability to pay. Start slowly, building credit references as it goes. No mystery here. As your corporation establishes a history of paying it's bills on time, and get an income flowing in, and have a balance at the bank, Collecting letters from people you do business with, attesting to payment history with them etc. Credit lines should follow as a natural progression.
Good Luck,
Jeff
I wish someone would answer this one, because i've been interested to find out about this too. It sounds way too easy.
Doesnt anybody here have information on this???
My understanding is that the new corporation is just like a new person coming out of school. No bad debt, no good debt, no credit history, no bank balance, no income. In order for the Corporation to establish credit it will have to provide information to potential creditors indicating an ability to pay. Start slowly, building credit references as it goes. No mystery here. As your corporation establishes a history of paying it's bills on time, and get an income flowing in, and have a balance at the bank, Collecting letters from people you do business with, attesting to payment history with them etc. Credit lines should follow as a natural progression.
Good Luck,
Jeff