How to Get Business Credit for Your LLC in 2024

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Having good business credit is crucial for many business owners to obtain loans, credit cards, lines of credit, and other forms of debt for their business. However, a lot of new business owners have no idea how to obtain it. Some don't even know what business credit is or how it can be used to grow a business.

In this video, tax expert Karlton Dennis explains what business credit is, how business owners can obtain it, and how they can use it to grow their businesses. He also explains how business owners can check their business credit scores. All of this information is beneficial for business owners.

Any business owner who wants to obtain business credit and use debt to grow their business has to go through a series of steps. This video is a complete guide that walks the viewer through the entire process of obtaining business credit. If you want to learn how to get business credit in 2024, this is the video for you!

CHAPTERS:
0:00 Intro
1:08 What Is Business Credit?
2:06 How Do Businesses Use Debt to Fund Growth?
2:45 Other Benefits of Business Credit
3:46 How Do You Get Business Credit?
3:57 Step 1: Set Up an LLC and Register It with Your State
4:46 Step 2: Obtain an Employer Identification Number (EIN) from the IRS
5:11 Step 3: Create a Business Bank Account
5:34 Step 4: Get a Dedicated Business Phone Number
5:53 Step 5: Get a D-U-N-S Number
6:22 Step 6: Ask Suppliers and Vendors to Report Your Payments to Business Credit Bureaus
7:02 Step 7: Apply for a Business Credit Card
7:53 Step 8: Keep Track of Your Business Credit Score
8:22 What About Personal Credit?
9:10 Question from a Subscriber!
10:12 Outro

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#businesscredit #llc #entrepreneur