New Business Loans

In the process of opening a new business. How do business loans work - I know I need a business plan etc before I can apply for a loan, but what is the other info? What is the range of interest rates, which is about how many years u can have the loan, they can range amnt loan, they include the first leasing amnt years in the loan case need ... etc., etc.?

A real credit card is a line of credit is taken on behalf of the company, under the credit company. Activity, whether good or bad, is reflected on your credit report undertaken by D & B and other financial institutions, and responsibility for debts incurred and bills owed is with the company.

However, some companies out there offer "business credit cards" they need a security person for the. These institutions often require a personal guarantee, and almost always ask for a Social Security number of the person requesting the card. If this is the case, the credit card is not credit card companies, but is simply a personal credit card that is used for the company. The company is not liable for bills and debts - you are.

When applying for a credit card for your business, watch out for areas asking for your SSN (and not your Taxidea or EIN) and be wary of any credit card that requires a personal guarantee. By ensuring that your credit card in the name of your company, you can help build your business credit, while avoiding creating problems with your own.

Many companies offer a list of credit cards that are issued under the trade name only. Those lists typically run $ 300 - $ 900, depending on the quality of information interesting. I suggest starting your search online via Google or Yahoo. Search for "strong business credit" (just like that in quotes) to find services that sell information.


Good luck


Ilya Bodner
Small Business Owner
Group Initial Subscription

Hi all,

You do not specify the amount you need, however, you're on the right track when you say you need a business plan.

One of the simplest methods of obtaining business credit, especially since your personal credit is good is to establish your company as a formal legal entity. In doing so, you position your company to obtain credit more easily, in fact, once you've done, you can request a credit line unsecured (credit card), which is the simplest form of businesses to obtain credit. The great thing about this approach is that you take advantage of your good personal credit rating, but once you get the loan, it does not show on your personal credit report. (You obviously need to keep your current payments, but you are building your business credit - a true win-win!)

Moreover, the best card available credit is offered by ADVANTA, they love new businesses and offer 0% interest for your first 15 months, then a fixed rate of 7.99% thereafter ... You will not beat this offer with any bank!

You can learn more about the steps from your company, and an application for credit card companies on the links below.

Good luck!