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Step by step help please....

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I read the instructions above but had additional question hope somebody can walk me through this.

 

I set up a Nevada C Corp last May and have done nothing with it yet. My office is in Maine. I would like to start applying for credit but am not sure how to fill out the Dun and Bradstreet application.

 

I looked at the DNB application through the http//www.ccr.gov and wonder what address I use: the Nevada address for the resident agent; or my home address where my office is located in Maine; or set up AIM PO Box in Nevada?

 

I put a business phone number in under my company name at my home address in Maine. Do I put a Maine phone number on DNB application for a Nevada corporation?

 

I have a PO Box in Maine because I do not get mail at my residence but what is the reason for forwarding phone bill to a AIM PO Box? Should all business bills use the PO Box address? Not clear on whether I need to set up Nevada PO Box.

 

Any guidence would be appreciated.

 

 

First let me say thanks so much for this great forum. It's extremely helpful.

 

I have exactly the same questions as qwe123 does. Ok, well not exactly, but close.

 

I set up a Nevada C Corp and I'm in Georgia and so is my UPS business address. If I am using all of my Georgia information, how does anybody know I am a Nevada Corp?

 

Thanks for any assistance, I really appreciate it.

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I set up a Nevada C Corp and I'm in Georgia and so is my UPS business address.

Thanks for any assistance, I really appreciate it.

 

I'm not sure about the rest of your question, but from what I read, a major chain mailbox such as UPS is not good because creditors are aware of the address. Maybe I'm wrong but that is what I have read. As to where your address should be, I think it would be in Nevada, the whole point is to make your business seem like a real brick and mortor business. But I am not sure, no experience, just from what I have read

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I don't know who Dr. Torres is...but I might be able to help a little...there are many companies that can actually add tradelines. Much depends on how quickly you want to do it. It can be done by yourself if you are willing to be patient building them...if you need them quicker I can probably recommend a few people to speak with...I have used a few with decent results...also...if your goal is to get as much no pg lines...and getting bank lines...be sure your aged corp has a solid Experian score (say 70 and above)...a DnB score(Paydex) isn't as important as it used to be...now before people jump on and start blasting me about DnB...I'm not saying it isn't important...just saying that lenders are starting to realize that DnB is a self reporting agency...and Experian business is reported in a similar fashion to the way they report FICO scores...so lenders see Experian as more credible.

 

Why reinvent the wheel? I would suggest buying an aged corporation first, adding tradelines purchased from a reporting company and then you can go get 20k on a no PG credit card with the company and use that money to put into bank accounts going for bank lines of credit. That's the way I do it.

 

Good Luck

Dr. Torres

 

 

Paging Dr Torres.

 

How do you do this??? What companies do you purchase tradelines from? Theres so many that claim to be legit but i would really like to know the real ones.

 

Great post by the way.

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I set up a Nevada C Corp and I'm in Georgia and so is my UPS business address.

Thanks for any assistance, I really appreciate it.

 

I'm not sure about the rest of your question, but from what I read, a major chain mailbox such as UPS is not good because creditors are aware of the address. Maybe I'm wrong but that is what I have read. As to where your address should be, I think it would be in Nevada, the whole point is to make your business seem like a real brick and mortor business. But I am not sure, no experience, just from what I have read

 

I've heard the same thing about the mailbox chain mailboxes... wonder if there is any truth to this...

 

Its more expensive but what about those virtual office address only services?

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So what about when I apply for my staples card and any other retail card...Is it ok to mark 'business is operated from home'?? Or should that be no?

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Since the begining of this thread is pretty dated i wanted to make sure the steps are still correct.

 

 

1. You name your company

 

2. You incorporate (can this be C, S, or LLC, does it matter which one)

 

3. Obtain an ein # on-line immediately (Free of Charge) (using business or home address)

 

4. Obtain a business telephone line at home using business name and

have it listed in the business pages and directory assistance.

 

5. Get a mail box at Aim Mail Center using the real mail address not p.o.

box number. Get your phone bill forwarded to this address.

 

4. Get a free Dunns number and DO NOT PAY FOR CREDIT BUILDER (using business or home address?)

 

5. Open a checking account - Bank of America is EXCELLENT (using business or home address?)

 

6. Apply for credit.

 

Thanks

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I am also concerned about the whole address thing. If I am operating a small-home based business, but don't want to give the inpression of a home based biz to obtain lines of credit, what can I do?

 

I hear it's bad to use mail centers like UPS, but what other options are there to get a biz address and not use your home address?

 

What address do you use on credit applications?

 

Please list resources if you have a solution to this obstacle. Thanks.

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Running home based business and openly admitting you're using a home address for your business has not caused any denials for my credit applications. Trying to use UPS mailbox as your 'business street address' most likely would.

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Very confusing. I just opened a UPS mailbox, because other threads said it was necessary.

 

 

I have not had any problems using my home address.

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isn't AIM mailbox redflagged by DnB?

has somebody used it and haven't got any problem???

 

Hi there,

 

I�ve spent the last month reading this board and I want to thank all of you for the invaluable information you�ve provided here. I am trying to identify the definitive undisputed step by step method of establishing biz credit and needing some guidance on the areas I missed. Here�s what I got:

 

1. I establish a finance sounding company, enterprise, etc.

2. I obtain an ein # from the IRS

3. I establish a C (corp) in nevada

4. I take my docs and ein an biz docs open a biz bank account

5. I get a DUNS number and credit builder

6. I establish a biz phone line at another address

7. I start applying for office credit

 

Questions: What address do I use and how does that work with the phone line? I understand mailbox etc doesn�t work well with DUNS. Which bank is recommended? Why is it recommended I don�t use my home address even if I am running a home-based biz? I thank you in advance for your input.

 

1. You name your company first

 

2. You incorporate in Las Vegas

 

3. Obtain an ein # on-line immediately (Free of Charge)

 

4. Obtain a business telephone line at home using business name and

have it listed in the business pages and directory assistance.

 

5. Get a mail box at Aim Mail Center using the real mail address not p.o.

box number. Get your phone bill forwarded to this address.

 

4. Get a free Dunns number and DO NOT PAY FOR CREDIT BUILDER

 

5. Open a checking account - Bank of America is EXCELLENT

 

6. Apply for credit.

 

You can obtain cell phones immediately using the ein # with no pg.

You can obtain a credit card at Staples with a limit of $750.00 no pg.

 

Advertising removec by site admin

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Whats the point of a D&B number if it doesn't help secure loans for cash which is really what matters for your business. I guess its nice having credit lines with suppliers you use but if it does not benefit you for raising capital I dont understand where the hype comes from.

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Im somewhat confused on the address use after reading this thread. I dont want to use my home address for business use at all, though I will be operating the home based biz here.

 

Before this thread, I had never heard anything bad about using a UPS Store address for your biz address for credit. Any recent attempts here?

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Since the begining of this thread is pretty dated i wanted to make sure the steps are still correct.

 

 

1. You name your company

 

2. You incorporate (can this be C, S, or LLC, does it matter which one)

 

3. Obtain an ein # on-line immediately (Free of Charge) (using business or home address)

 

4. Obtain a business telephone line at home using business name and

have it listed in the business pages and directory assistance.

 

5. Get a mail box at Aim Mail Center using the real mail address not p.o.

box number. Get your phone bill forwarded to this address.

 

4. Get a free Dunns number and DO NOT PAY FOR CREDIT BUILDER (using business or home address?)

 

5. Open a checking account - Bank of America is EXCELLENT (using business or home address?)

 

6. Apply for credit.

 

Thanks

 

I have started down the path myself and currently am working on obtaining credit from Uline and Quill. One thing that I may need to work on is getting listed in 411 as I used a free service (listyourself) but called 411 and they don't have my company listed and it was done months ago.

 

I think the next step is getting the Trade Lines reported (I applied for quill and uline so if approved hopefully they will report in a few months).

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Im a returning user and am starting all over again with four more businesses. Can someone please list all the accounts by date they got all the way up to the big CC cards i.e.- staples 10/09, uline 11/09, mastercard 12/09, but a good long list and not one from a shelved corp. PLEASE i think there needs to be something like this not just list and list of approvals but a few detailed list of every business acount up to and including the CC's PLEASE.

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Im a returning user and am starting all over again with four more businesses. Can someone please list all the accounts by date they got all the way up to the big CC cards i.e.- staples 10/09, uline 11/09, mastercard 12/09, but a good long list and not one from a shelved corp. PLEASE i think there needs to be something like this not just list and list of approvals but a few detailed list of every business acount up to and including the CC's PLEASE.

 

Your asking for a LOT of information about all of our businesses. Some people have 50+ accounts, remembering every single app/approval date is not easy. I have my progress written down for future references, should I need to do this again.

 

Mine: (R= reporting as of date of post) No PG

4/09 - Grainger R, Gempler's R, NEBS, Bags and Bows, Uline R, US Plastics, Reliable R

5/09 - Business marketing services R

5/09 - PAYDEX

6/09 - Staples, Office Depot, Sunoco, Citgo, Valero, BP

7/09 - Mouser, Northern Tool

8/09 - Shell

 

Limits are listed in my Sig. I also have a PG'ed Crapital One card reporting on all my business reports. If/when my Citi cards start to report I will apply for more cards, until I am on an app vacation.

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Ok I just recently joined this forum and have been reading alot of information regarding building business credit. I have had my business since Oct 2006 and I have had my Bank of america business account since then. It seems that I already have most of the steps taken care of but I cant seem to get approved for any business credit.

 

1) Already got a name of my business

 

2) Incorporated it as a C-Corp since 06

 

3) Already had EIN number and have been filing taxes for the past 2 years

 

4) I remember getting a business credit score from experian back in 03/03/09. Still have the copy of it. It doesnt say much but shows credit ranking score of 52 and one tradeline which didnt say what it was. 0 UCC filings. It says the experian file was established april 2008.

 

Also went to the DnB site to search for my business on the listings and it showed up so I requested for an eUpdate password and got email to call them. I guess they want to sell me something. Does this mean that I already have a Dunns Number?

 

5) I have had a business account with Bank of America since opening the business.

 

I applied for Dell business card when I first opened and got approved for $5000 but now my account got closed. Not sure why since it was in good standing and fully paid off in a year.

 

I have been applying on and off with Bank of America business credit card and keep getting denied. They keep asking for "PG" I guess since they ask for my personal social and information.

 

I guess I need to try out the No PG vendors listed on here like Staples, Office Max, Home Depot, Lowes, etc? Should I do anything else before I start applying for credit again b/c I really need to start building my business credit. All this time, I have had no success and its really frustrating.

 

Do I need to take care of some steps first like getting the eUpdate password and Dunns number?

 

Any help would be appreciated. I wished I found this forum long time ago :o

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4 - a score at experian of 52 is not very good. i would pull it again to see if it has gotten any better. And yes - if you found yourself in D&B, you have a number. And yes - they want to sell you something. Call them and tell them you want to be able to see your file to verify all information, and that you will talk with your finance mgr or whoever and get back to them about the Credit Builder. Ignore all their crap - be very nice, and you should get the password.

 

5. I have seen on the board dell is closing alot of accounts. how long ago was yours closed? every have a late payment? stop applying with B of A unless you are going to PG the account, you'll get nowhere otherwise. Yes - try non PG vendors - but you need to establish your net 30 accounts FIRST to get a PayDex with D&B before most of the net 30's will even touch you. I believe Office Max no longer issues biz credit - Home Depot and Lowes both require a PG now.

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