How to Qualify for Business Credit | 8 Keys to Having a Credible & Legitimate Business
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- Опубліковано 16 лип 2024
- If you're interested in Business Credit, and want to make sure you meet the requirements to qualify for Business Credit.. or simply want to know how to properly form your business, watch this video! Kelvin, gives you they 8 keys to having a credible business. Having a business that is deemed legitimate and credible is the foundation of qualifying for business credit cards, Net 30, vendor accounts, SBA programs and other small business loans etc. Business credit is credit obtained in the name of your business using the businesses EIN/TAX ID. Business credit is based on the company's ability to repay it's creditors and obligations. With an established and strong business credit profile, your business will have access to vendor accounts, revolving accounts, major credit cards, unsecured credit lines and loans all without using the owner's personal credit! Most importantly, businesses can obtain funding faster than relying solely on personal credit all while gaining access to much larger borrowing windows.
---- Chapters ----
00:00 - Intro
00:28 - What is Business Credit
03:02 - How to qualify for Business Credit, 8 Keys for a credible business
06:09 - Business Phones, 411, GoDaddy SmartLine
10:33 - Business Status, Licensing
As mentioned in great detail in this video, here are the 8 keys to having a credible business & qualifying for business credit:
1. Business name
2. Physical address
3. Business entity
4. EIN/Tax ID
5. 411Business phone
6. Logo, professional presence
7. Domain, website, professional email
8. Business licenses, permits, state status
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🎓Wanna learn more? Join GreenScale Academy: The Most Comprehensive Business Credit & Real Estate Funding Community Ever‼ If you're ready to break generational curses and build wealth click the link below to join the family and get mentored by Kelvin McNeil ➡ go.greenscaleacademy.com
Man this is the Best business beginner video I’ve seen to date! Big shout out to Kelvin 🥳🎤💯
Thank you 🙏🏾
Appreciate you, brother! I applied for five of your tier one trade lines and got approved for three right away. Still waiting on word on the other two.
Very thorough. Suggestions I have not heard elsewhere. Thanks so much!
Best in depth videos.....good looking out !
Thank you do much. I did not know about any of these. So helpful. Thank you again!!!
Excellent video, thank you sir!
Thanks for the great information bro!
The first detailed video I’ve seen thus far step by step, I LOVE IT..tfs new subscriber🙏🏾💪🏾
Thanks for subscribing!
Thank you!!! I have watched several of your videos completely. You came across my feed and I clicked and I feel as if I have struck it rich already! Everything and every word is clear and precise. All directions noted. I will update you soon. Thank you so much. I can't tell you enough. There was no baiting, no purchasing, no pressure.
OMG, Kelvin! I'm glad I came across your channel just what I've been looking for. Straight to the point, easy to watch, and full of nuggets.
Man this is COLD delivery!!! New subscriber. Appreciate you!!!
Thanks for subscribing! I appreciate you 🙏🏾
This was very detailed...thanks
Excellent! The 8 keys are helping me to get on track with an opportunity to build business credit! Wow! I appreciate this information!
Great info bro! Clarity on a lot of things I have heard
Kelvin thanks for the on point content appreciate your hard work bro.
Thank you. I do it for y’all 💯🙏🏾
Appreciate the guidance.
Amazing content and to the point. Love it
GREAT JOB ON YOUR VIDEO'S 🥂🍾 LUV IT !¡
Your videos are right on time! Thank you Bro
You’re welcome sis!
WOW THIS WAS SO INFORMATIVE! THANK YOU!
You’re welcome!
Thank you for sharing
Thank you!
Thanks for the solid straight forward content! New Sub!
Thanks for subscribing!
Thank you very informative video! Answered all the questions I had .
You’re welcome. Glad you found it helpful.
Thank you again for another dope video!❤❤
This is awesome 👏 You are the bomb!
New subscriber, delivery was perfect. And suggestions are the icing on the cake
Thanks for subscribing Rome! ✊🏾
Definitely new subs. Great job on your presentation
Thanks for subscribing! 🙏🏾
I just watched it again and I think I learned more 😁
😆😆😆
Thank you so much for this video !
No problem! Thanks for watching!
WOW Thank you Sir God bless you
You’re welcome $ God bless you too. 🙏🏾
Thank you! You’re a God send!
You’re welcome Imani! Thanks for watching
Great information. Thanks
Great stuff Sir
I am trying to get all of ducks in a row and this really helped. Thank you, new sub to!
Glad you found it helpful Jessie. Thanks for subscribing! 🙏🏾
Thank you for this video. Very helpful.
You’re welcome! Thanks for watching
Thank you so much, big help!
You’re welcome! Thanks for watching
Im just now seeing this. I wondered if a go daddy number could be registered....well never to late to make the change. Thank you! See, I just love how easy it is to understand you. You also provide different information from many others I follow. 😍😍 !
Thanks and you’re welcome!
Very informative
Useful information. Very easy to understand! Gratitude for your effort to spread knowledge!! Very beneficial to know this information.
Thank you very much! 🙏🏾
Good stuff brother. Keep up the good work!
Thank you! 🙏🏾
hey young buck i subscribed to your channel , you are the real deal bro, I'm on my business credit journey! I'm sitting here with pad and pen ! you have a new student
Thanks for subscribing! 🤙🏾
Very Good information
Wow! This was very informative and presented in a way I can understand..thank you! New subscriber :)
Thanks for subscribing!
Doing gr8 work bro. 💪🏾💳
Thank you!
Great Video and Information!
Great information-thank you
You're welcome Karen. Glad it was helpful!
BEST BUSINESS START UP GUIDE EVER. WILL BE SHARING VIDEO TO ALL BUSINESS FRIENDS. Do you do mentoring?
Thank you! No, not at the moment.
Agree 💯, simple, basic, clear and straightforward
Do this work if you have a ATM business?
@@KelvinMcNeil hey Kelvin Im building a software that teaches individuals the step by steps of building business credit I’m looking for a trainer for my back office can you recommend anyone?
Awesome 😎😎😎😎
Great info. Thank you so much. You are a Blessing. New sub here.
Thank you for subscribing!
I find myself listening to all of your vids even though the titles are similar or almost the same. The content is very different in each one though.
Thanks for watching! Yes, this is a video series about how to build credit.
A1 information bro!
Thanks for subscribing Chris! ⚡️
Wow….ur really good at this…
Thank you 🙏🏾
@kelvinmcneil thanks so much! The answer on your other vid, led me here. Going to follow your steps and i'll post an update
wonderful
I know this video is old, but I watch as many of your videos as I can! I was curious if you could do a video on setting up a 411 registry for a business account?
Thanks for watching! There’s no need to do a video on it because it’s super simple and only takes 5 minutes on listyourself.net if you are using a 3rd party service or just call your provider if you have a business line through Verizon, AT&T etc
Im Subscribing Right Now....
Thanks for subscribing Matthew!
I wonder where the channel is a bigger than what it is I think I stumbled upon you by accident because I was googling how to get l working capital and I was finding nothing so I came to UA-cam and typed in a bunch of different searches and stumbled upon your channel I am definitely going to subscribe cuz I need to sit down and really try some of the things you're talking about
Thanks for subscribing! Welcome to the family. There’s plenty of helpful information here.
This FREE GAME . Im bout to tap in
great job bro !
Thanks Jay!
Thank you an Appreciate the information..
idk how i came across your channel but ty
I’m glad you found me lol You’re welcome 😇
Awesome
This brother is alright with me... Thanks a mil!!!!!... he has a Scorpio swag.. i could be wrong. My kinda a ppl.. thx :)
Libra gang over here but it’s all love! Thank you
Good content Sir. One question though. If I obtain a business phone number through Godaddy will it automatically list in the 411 registry?
ahhhhhh ok kool.
Nice & str8 to the point. I'm a subscriber now... and I share everything like this with my like-minded contemporaries; who also watch & subscribe.👍🏾
Thanks for subscribing!
These business credit videos are lit 🔥
Aye.. this might be favorite comment 😂 🔥 Preciate it 💯
Hey Kelvin, appreciate all of the information! I am starting a online sales biz. I will occasionally sale at local events and flea markets in my area (obtaining resellers permit & wholesale license) Can I do this as a Sole Proprietor? As long as all 8 keys are done. I’m in California and our LLC’s aren’t as cheap as other states. However, I want to get the business credit started as soon as possible as Sole Prop and eventually change to LLC after building a good amount of revenue.
Hey Mara. Sorry I’m just now seeing this. Yes you can start as a Sole Prop but you’ll hit a wall with business credit & funding so I recommend eventually changing the entity type as you mentioned.
Okay, so, I see the link for the multiple lines of revenue. My question is, does that actually work?
"Why" is it necessary to have a separate business line starting out? How would the 411 data base know if it's business or personal that you're using as business? Reason I ask is bc we're strapped for cash starting out and trying to do things as minimally as possible.
Because vendors, lenders and creditors will verify your business for approval. One of the 1st ways to do this is to lookup your business’ phone number. When an unknown number calls you, do you not look down and think “who is this?”. Vendors & lenders are no different. The whole purpose of 411 is to identify your business by phone. Lastly, this isn’t a big deal when building business credit with tier 1. Just make sure it’s done before moving on to tier 2 etc.
C ant lie bruh u got the most thorough biz videos I've seen .... Broke it down so i could understand
Thanks Julio! I try to make it easy to understand.
1 question .... Im about to register my LLC next month .... I already have a LILI freelancer bank account for single member LLCs ...... Should i make sales thru my paypal business account to my LILI bank account or should i get the secured Wells Fargo biz credit card then link that to my paypal biz account when i start making sales ? Please n thanks much
@@juliomata3 the only way to get the Wells Fargo secured is if you have a business checking account with Wells Fargo.
following because of #credithero !!!
Nah man lit channel
thanks Mike lol
By the way anybody who's watching these videos make sure you watch them a couple of times it's even better if you get your laptop and do these things while you watch the video on your phone
Thank you for this...how do I get my number in 411?
Great video and information, but how do I register with 411 directory?
listyourself.net
Find you in the business credit group new subbie here
Hello! 👋🏾 Thanks for subscribing!
Great info! Can you use one business phone number for 2 separate businesses?
Shouldn’t be a problem as long as the business information matches everywhere.
The information you provide is very beneficial. My question is what banks do you recommend for no business Credit? I tried to apply with Chase since I already had an account there and I was denied and told to come to the branch for other offers. Are there banks you would recommend?
Thank you . You said “no business credit” do you mean personal credit or start ups with no business credit established?
@@KelvinMcNeil Like no business credit. I need to set up a banking account for my business like you stated and I was wondering what banks you may recommend for that? I tried Chase Bank online and was denied. What steps do you recommend going forward. I just registered my business and got my EIN & Dunn's # . Now I need that then some business credit.
Hi I have a business of 2 yrs. I rent a ups mail box with a physical address but most credit cards wont except it. Could i rent a virtual address and change my address. 2nd question I went to open a business savings and they want a lease or utility bill. I don't have a office lease. I just have a lease for renting my mailbox. Do you have any solution with this situation. Thank you
Great content. I’ve been reading that your home address shouldn’t be used when applying for business credit as the business doesn’t seem “legitimate” with a home address. Have you had any issues using your home address?
No, I’ve never personally experienced any issues when I used my home address in the past.
What if you run an Airbnb wouldn’t your only option really be to use the home address or maybe a virtual office?
Or even better question what's the easiest way for me to qualify for $300,000 in working capital or even just $100,000 so so that I can take some of my demo products and get them on retail shelves I already have access to a portal I just need the capital. By the way in case anyone's wondering when I say portal I mean an actual portal where you put your business name in what you're selling and what you wanted so for as a retail price in the stores upload a photo of your item how much you want to charge for it and then the retailers come to you by using that portal to get your items on their shelves. No one gave me this information I had to track it down by asking a lot of executives on LinkedIn multiple questions until I got an answer for what I wanted to know research.
Kelvin how do you like that Credit Hero Program? I almost bought the program,after research I see its just software.
Yes, it’s for Credit Repair businesses but I’m a big fan. CRC is phenomenal and Daniel Rosen is a great guy.
I just registered with Nav , How do I use the site ? Feel free to give me some advice guys , I’d really appreciate it.
Accepting credit card in your business is the number one way to get a line of credit. Credit card create a paper trail. Which is proof of income?
Yes, card transactions are easier to track than cash but lenders don’t typically care. Revenue is revenue. As long as theirs money coming into a business account not personal.
Can you use a business cell phone account as the number for the 411 directory listing? Does having a business account with Verizon, etc. Add to your business's credibility?
As long as it’s separate from your personal cell phone number, you’ll be fine. Yes, they’ll be able to list it in the 411 registry. Local numbers are actually preferred in terms of credibility.
@@KelvinMcNeil thanks.
Okay. Are you saying that I would need an LLC for my business entity? I do not have an LLC it is very costly. Also, my ein address was a PO box and this is from IRS. I just learned from you that we shouldn't put down PO box. I am learning a lot from you today
You need a business entity. Preferably an LLC, S-Corp or C-Corp. Without having an entity registered with your local Secretary of State you have no business.. only a side hustle.
Do you do personal credit repair?
Yes. Our credit restoration program reopens next month at www.greenscalecredit.com/
Waiting on my Duns# number and wondering what can I do in the mean time to start the process of building business credit?
If your business has all 8 of the keys to having a credible business mentioned in this video, I would recommend educating yourself on the different vendors that you want.
any recommendations on virtual addresses?
None because I don’t recommend them but what I can say is if you’re looking at getting one, make sure it is a legit virtual office where you could reserve a physical office and have corporate gatherings if needed. Not just some place that will accept your mail.
Can I use my storage unit as a business address? What if I’m an independent contractor at someone else’s salon?
@@PiggieBonita not recommended. It won’t fool any creditors.
👑💯💯💯💯💯🤘🏿
Great job! Just want to know how to get my number registered with 411 please?
I recommend using listyourself.net
We are start up LLC but have bad credit.
You’ll need to improve your personal credit for sure. Needs to be a top priority. It will be extremely hard to get business funding as a start up with bad credit but I can help. Schedule a credit consultation here: offer.greenscalecredit.com/freeconsultation
Just staring to get away from the side hustle game. Got my LLC and EIN, I know that business and personal credit should be kept separate. A few years ago I recieved my Navy federal amex with a 15k limit. Just wondering if my personal credit will affect my yet to be determined business credit? as you stated at 2:35 in your video
Business credit is separate from personal credit yes but your personal credit can & will be used to leverage approvals on the business side. Most business lenders will take a look at your FICO reports & scores before extending your 1st business line of credit & business loan. This is why I said it’s important to have great personal credit.
Kelvin I thought you said in the video that your perso al credit was not even a factor in Business Credit
By the way my credit score is currently sitting at 711 that's my personal credit my business credit doesn't actually exist it's an official LLC just trademark the company's name underneath the LLC now I have to figure out how to build enough credit to get capital to start building
What do you do if you never set up a professional email, established a professional phone number tie to a 411 but already went ahead and filed for your LLC license with the state that you live in with your personal phone number and your personal email as contact information for your business?
That’s completely fine. The 1st step to building business credit is to have a business! Lol So now that you’ve filed and formed your business, make sure you follow the rest of the steps to assure your business is credible.
Awesome info,is a ups physical address business mail box rental acceptable anywhere because I got the eidl approved and already had everything signed up with a ups store location,I think I might have to change it before business credit cards though since a few years ago I got unlined etc using that address
No, using PO Boxes (if that’s what you’re referring to) is not recommended. Using Brick & Mortar, Home addresses, or Virtual addresses are preferred.
I like this question. When I registered for my LLC, my state recognized the UPS street address as a legitimate brick and mortar address.
@@binke5863 yeah maybe its flagged certain places but I used pg and got chase plus m&t business cc so far without it being an issue
@@KelvinMcNeil no the ups store physical location not p.o boxes I know it's similar but the po boxes are a definite flag
Thank you so much for this info. I have a street address attached PO BOX. Will that work?
No, that will not work. You need a virtual office.
@@KelvinMcNeil thank you much
@@theresumewhisperer656 no problem