galenajen Posted September 16, 2010 Report Share Posted September 16, 2010 I am not sure where to post this and I am having much difficulty finding any information. I just opened a small business and have obtained a federal ID number. My question is,with it being a new account with no credit history I for see getting credit as a problem. I want to know if I can take positive credit from my personal credit history and apply it to my business credit? Like piggy backing myself, and can this only be done with credit cards, I have payed off bank loans and ect.....Thank you so much! Link to comment Share on other sites More sharing options...
jq26 Posted September 16, 2010 Report Share Posted September 16, 2010 Like piggy backing myself...Soiunds kinky No you cannot "piggyback" your personal credit onto your business entity. Here is a decent article below. But you probably want to open credit in your business' name (it will likely involve a personal guarantee for the first two years). Is this a capital intensive business where you will need credit from vendors or loans from banks? If not, then why do you care about immediately establishing credit? http://www.allbusiness.com/business-finance/business-loans-business-credit/11194-1.html Link to comment Share on other sites More sharing options...
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