Experienced Accountant Learns From Mistakes About Business Credit

When I started my first two businesses, I didnt understand how to use a tax ID number to fund my business instead of using my own social security number. I pushed my FICO scores way down below an acceptable level because of the credit card balances caused by my business expenses showing on my personal credit reports. My debt-to-income ratio was really bad because I didnt know how to obtain business lines of credit and vendor credit under my company names. I thought only big companies could get credit. I paid dearly for this mistaken knowledge.
For many years I had poor FICO scores that cost me high interest rates on everything from car insurance to credit card finance charges. The personal stress was so great at times that I just wanted to give up my dream of having a successful business I could call my own. I finally learned from reading books, going to seminars and buying credit repair programs exactly I was doing wrong.
I now have a separate legal entity for all of my businesses and each one has its own tax ID number. I have a business VISA credit card that does not report to my personal credit. I have opened separate business checking accounts for all of my businesses, and I never mix personal expenses with business expenses.
I have worked very hard at cleaning up errors on my personal credit reports so that when I start a new business if I have to give a personal guarantee I know that my high FICO scores will greatly improve my chances of getting the business line of credit or the vendor credit card.
All of this knowledge came from a learning process that was tedious and time consuming. I realized that many other people are trying to get their dream business off the ground and I knew that all this information was not readily available in one place, so I decided to help this situation.
Ive written an e-Book that gives step-by-step instructions on how to name your business, how to register it with the State and how to make your business appear established so that when a vendor or lending institution looks at your company they will find everything they need to approve your application. Ive taken all of the information Ive collected over the years and put it in a concise format that anyone can follow. There is still work that has to be done to get your business off the ground, but Ive given you the tools to start out on the right path to success without risking your personal credit.
Basics of Business credit is the name of my e-Book. You can find out more about it and the bonuses that Im giving away for free.
For more information, click here to access my website for Basics of Business Credit written by me, Susan Carter. Thank you.