I Have Heard That Personal Credit Should Not Effect Business Credit. They Say Business Credit Uses Ein Number If So How Do We Obtain That Number
EIN for Business an EIN (federal tax id) is the id given to you by the irs. it is how your business entity is identified. you can apply for the EIN online at the IRS's website. http://www.irs.gov/businesses/small/article/0,,id=98350,00.html
Ein I Have Used That And They Have Said My Credit Is Bad So That Is Why I Thought It Was Linked To My Personal Credit. Any Places That I Can Go To To Get Credit For My New Business
well, you've got to start from somewhere, and you've come to the right place if you want help rebuilding/repairing your credit, which will definitely make things easier for your business. without a tax id (ein) you won't be able to apply for a business credit card, unless you use your ssn, which we know will link the card to your personal credit and we don't want that. i'd stay away from large banks, because they will not give you a business loan based on your credit score. smaller, local banks may still depend on the four c's (credit history, cash flow, collateral and character), which means although your credit history may be low, you might be able to get a loan through them because your other 3 c's are strong. have you tried talking to someone at the IRS? their website lists a toll-free number. i've never heard of anyone being denied a EIN, although i don't know your credit score. personal and business credit are completely separate because personal is your personal credit history and business is your business credit history. however, personal credit can be used in the beginning to start your business credit history (to start, does not effect your business credit score), such as to obtain business credit cards or loans. it's important you work on your personal credit score to raise it to a level that the IRS will issue you a EIN so you can begin your business credit history.
