Updated: Jul 3, 2022
Don't you just wish you had a time machine sometimes? Lol, you're not the only one...Here are 3 things I wish I knew before I started building my business credit:
1. The first thing I wish I knew was that my business address shouldn't be my home address, a P.O. Box or a FedEx address. I remember when I had listed my business on Google, it was suspended because the virtual address I had got from ipostal was flagged as fraudulent.
Take Away: When you are obtaining your virtual address make sure that it is a real brick and mortar. I recommend using Regus.
2. The second thing I wish I knew was paying my invoices 10 days before the due date will help my business scores generate faster and increase. This helps you build business credit faster so you're not stuck on Tier 1 for months.
Take Away: if you want your scores to increase faster I recommend you do this hack
3. The last thing I'll say I wish I knew before building my business credit is that business credit cards from Chase, Amex, Bank Of America will require me to PG (personal guarantee) no matter if my business scores are generated or not.
Take Away: when applying for traditional business credit cards you will always need to be the personal guarantor. So make sure your personal scores are in good standing as well
If you need assistance on how to properly set up your business, build business credit, obtain funding or fix your personal credit. You're in luck, my womenpreneur business academy is designed to help.
More details at my website www.womenpreneurbusinessacademy.com