How To Build Business Credit as a Sole Proprietor but QUICKLY

Поділитися
Вставка
  • Опубліковано 4 лют 2025

КОМЕНТАРІ • 86

  • @brandonrichison64
    @brandonrichison64 2 місяці тому

    I’ve wanted to get my business started, and out there, but have been so nervous about the financial aspect. You broke it down in a way that helped ease that nervousness and made me want to go through everything you have to offer. I can’t wait to get this going. Thank you, truly!

  • @BaldheadNailtech
    @BaldheadNailtech 2 роки тому +26

    Thank you for speaking slowly for the people in the back

    • @LYFEAccounting
      @LYFEAccounting  2 роки тому +3

      My pleasure! Thanks for watching.

    • @Freetobeme8181
      @Freetobeme8181 2 роки тому +2

      I’m in the back and I very much appreciate it too

    • @DIY2Billions
      @DIY2Billions 2 роки тому +2

      Right truly agree . Very clear ❤

    • @tashagotit7747
      @tashagotit7747 9 місяців тому +1

      Im sitting in the last seat by the window scrunched

    • @BaldheadNailtech
      @BaldheadNailtech 9 місяців тому

      @@tashagotit7747 as long as you are in the room ❤️

  • @ileishasanders6969
    @ileishasanders6969 Рік тому +7

    I learned yesterday that you can only have one EIN per person if you are a sole proprietor. So if you have multiple hustles as a sole proprietor ...same EIN. You have to call the irs and have them issue you seperate letters with each DBA name. Can't be done online.

  • @williamdrilon75
    @williamdrilon75 6 місяців тому +1

    Been loving the content. I’m trying to start my own business but want to learn before I jump in the pool. And since finding this channel I haven’t been watching any others other than just to see common things but this channel is by far my new fav.

  • @dee-q3w
    @dee-q3w Рік тому +2

    this was very helpful and explained very well for newcomers to understand thank you very much ill leave another comment after i put it all together thank you again

  • @sweetlifeofHoney
    @sweetlifeofHoney 2 роки тому +4

    I just became a sole prop. And i got my ein. Im soo excited. Now i need business credit

    • @LYFEAccounting
      @LYFEAccounting  2 роки тому +1

      You got this!!

    • @sweetlifeofHoney
      @sweetlifeofHoney 2 роки тому +1

      Just finished my instagram marketing class lastnight with MESO!!!!! Thepresentation was absolutely incredible.... The resources and the AMOUNT she was able to show in two hours was mindblowing.!!!! I highly recommend to all and ANY new biz!!!!!!!!!!

    • @sweetlifeofHoney
      @sweetlifeofHoney 2 роки тому

      Meso # BIZZY LIZZIE!!!! # sweeet cheecks suzanne :) EVERY ONE AT ALL MESO LOATIONS!!!!!!!
      #MESO #SMALL BUSINESS!! #2022 #LETS GO

  • @ZERVVREZ
    @ZERVVREZ 2 роки тому +2

    Cool so soke prop, dba to add seperation, apply for ein, get business phone number, business bank acc under dba, pay all transactions thru biz bank, det a dnb #, establish trade lines with atleast 3 such as shirtsy uline and quil, get biz credit card, look at credit report like nav or credit signal to detect any inaccuracies

  • @dbest4755
    @dbest4755 2 роки тому +8

    I love SOLE PROP !! Yes, business credit for SOLE PROP... No other UTUber has done this training... Thanks!

    • @LYFEAccounting
      @LYFEAccounting  2 роки тому +1

      This information is definitely needed! Thanks for supporting.

  • @josephsouthall813
    @josephsouthall813 Рік тому +2

    I love this vid. Very informational and spoke at a speed I could understand. Didn’t damn near rap it to you like a bunch of other videos

  • @tmcfarland3561
    @tmcfarland3561 2 роки тому +1

    Best video on UA-cam for this type of content

  • @dexterscott7693
    @dexterscott7693 2 роки тому +3

    Thanks for the information, greatly appreciated

  • @keithhenry1535
    @keithhenry1535 3 місяці тому +1

    Thanks sir

  • @EndNuclearAgenda21
    @EndNuclearAgenda21 5 днів тому

    Awesome! Thank you

  • @globalpresido5823
    @globalpresido5823 2 роки тому +2

    Definitely appreciated the information. May have to hire you.

  • @jkrystal11
    @jkrystal11 Рік тому +2

    Thank you, I learned so much.

  • @HealthWealthRelationships700
    @HealthWealthRelationships700 2 роки тому +2

    Valuable information. Like button and subscribed.

  • @collin669
    @collin669 Рік тому +2

    Thumbs up and this was a great content video for starters. I would still prefer to establish an LLC, just my personal preference. I am concerned about the personal liability if the business does not succeed as expected. Took notes. Thanks for sharing. Great content for newbies. Thank you.

  • @helenkanu8402
    @helenkanu8402 2 роки тому +3

    Thanks for sharing knowledge.

  • @sofiamurgado606
    @sofiamurgado606 Рік тому +1

    Awesome video thank you!!

  • @kriswas4351
    @kriswas4351 Рік тому +1

    Great content

  • @thelarrytavtekkasystem
    @thelarrytavtekkasystem 5 місяців тому +1

    That totally helped me out a ton! Awesome video, my brotha! Keep on making that money! I will do the same!

  • @jasonperry7010
    @jasonperry7010 2 роки тому +3

    Thank you for speaking slowly and clearly so my dum dum brain can understand

  • @sweetlifeofHoney
    @sweetlifeofHoney 2 роки тому +2

    Ty for the tips!!!

  • @myz98f150
    @myz98f150 2 роки тому +1

    thanks for the info

  • @mxbaja8069
    @mxbaja8069 2 роки тому +1

    Thank you 🙏🏽

  • @santaniebrown3721
    @santaniebrown3721 2 роки тому +1

    Great video!!

  • @scooter10421
    @scooter10421 2 роки тому +4

    This video was informative.

  • @scottpickering2438
    @scottpickering2438 2 роки тому +2

    Excellent clear presentation!

  • @EXO28RESEARCHGROup
    @EXO28RESEARCHGROup 2 роки тому +2

    Great Content ✊🏾

  • @joanjohnson9821
    @joanjohnson9821 2 роки тому +6

    Your step by step format is what I need to actually make my business dream a reality, ty!

  • @claudiavilla8840
    @claudiavilla8840 2 роки тому +1

    Thank you

  • @vlallen4888
    @vlallen4888 2 роки тому +2

    This was super helpful. Thank you!

  • @FinancialFreedomMadeSimple
    @FinancialFreedomMadeSimple 2 роки тому +2

    Great information!

  • @ShantrellParker
    @ShantrellParker 2 роки тому +2

    Thank you so much for this video. It was so helpful and confirmed exactly what I thought.

  • @kennywilliams7233
    @kennywilliams7233 2 роки тому +1

    Helpful info

  • @divinevirgo8341
    @divinevirgo8341 2 роки тому +1

    Greetings! Love the channel ❤
    What business banks and credit cards would you suggest for newbies?
    Thanks

  • @ltaylor6433
    @ltaylor6433 3 місяці тому

    Hello ty so much for this video. Quick question when creating a account with secratary of state do i use my legal name to create profile. Tia God Bless!

  • @JoeyBeeFit
    @JoeyBeeFit 2 роки тому +10

    Thanks so much for the information. I'm just a little confused as to how if you are sole proprietor your business credit will not affect your personal credit considering there's no legal separation. Would you happen to know where I could find information on that? Thank you!

  • @BombayBeatz215
    @BombayBeatz215 Рік тому

    Helped me out!

  • @DreamBlissYT
    @DreamBlissYT 4 місяці тому

    What would be the top 4 tradelines for someone starting a small, online only - no storefront, custom computer building business?

  • @JG-dy2hk
    @JG-dy2hk 2 роки тому +3

    Great video, I was told that you need at least 10k for 3 months in an account to get a Grade A Bank Rating. Are there different levels above Grade A or how does it work?

  • @epiclacewigzboutiquellc9759
    @epiclacewigzboutiquellc9759 2 роки тому

    Thanks 😊

  • @bigbapester
    @bigbapester Рік тому +1

    There is a New Testament verse that says we should be 'Slow to speak. Be quick to listen. Slow to wrath.'
    Big boy kudos to the UA-cam Creator.

  • @millimergmusic
    @millimergmusic Рік тому +1

    So say I’m a sole proprietorship with a ein, is it possible to get the same amount of funding and high limits as if I had a LLC?

  • @asmarbilalsr7769
    @asmarbilalsr7769 Рік тому

    Is dun n brad necessary? i dont think so

  • @SMack-mj2bp
    @SMack-mj2bp 26 днів тому

    I'm a starting entrepreneur, would it make more sense to form an LLC that will stay with me for life? Or does the business credit i build on my personal EIN carry over if i decide to transition to a llc at a later date?

  • @motionelite30
    @motionelite30 2 роки тому +1

    Is DBA almost like an LLC? Or if I have LLC I should still DBA . Love the video, excellent information

    • @LYFEAccounting
      @LYFEAccounting  2 роки тому +2

      They are not the same. A DBA is not a legal entity and does not provide liability protection like an LLC can. It simply allows you to file with the state and not use your personal name for the business. There is no reason to have a DBA as an LLC unless you want to rebrand for some reason. Hope that helps.

  • @BlssdNHighlyFavored
    @BlssdNHighlyFavored Рік тому +1

    I am a sole proprietor, but the name that I created for my business is what's attached to my EIN. I created a business name instead of using my name. I listed it that way when applying for my EIN. Is this known to be common? Because as I'm listening to you...sounds like sole proprietors do a DBA. I never did a DBA. With sole proprietors, you and the business are one...but now I think I'm a bit confused. Am I supposed to have my name listed as my business on my EIN paperwork and then do a DBA?

  • @steph5494
    @steph5494 2 роки тому +1

    I have my EIN already. I will have to work backwards I guess.

  • @princessp1219
    @princessp1219 Рік тому

    I applied for all the cards under my EIN number..and was denied by all cards..I know my Personal Credit is not good so i take it that they do use ur Personal..and Some of these Business bank accounts was denying me as well..Im so over it & Confused

    • @Hitpronet
      @Hitpronet Рік тому +1

      Quick questions: Did you set up a business address (not your home address or a PO Box), business phone number(not a Google phone number or your cellphone), business email (not a gmail, yahoo, etc)and website before you applied for your cards? If so, did the address and phone number on your EIN paperwork match EXACTLY as your business details ? If not, that will automatically disqualify you also.

  • @bornagain6665
    @bornagain6665 2 роки тому

    Were are yall located

  • @tobbykolby1042
    @tobbykolby1042 2 роки тому

    Ok

  • @josephsouthall813
    @josephsouthall813 Рік тому +1

    This guy pretty much laid out the blue print even gave you the Buisness where to order product from to start getting your Buisness going and getting credit for the established for your Buisness soon as you start

  • @yadderestradatransportatio3962
    @yadderestradatransportatio3962 6 місяців тому

    I know this video is 2 yrs old, how ever for anyone that knows. Quick question; I can’t afford to rent a business place to have a business address, would it make it a problem and stop me from growing the business by using my home address ??? Thank you.

  • @jeffdange75
    @jeffdange75 2 роки тому +1

    Taking on debt just seems to risky. I wanna organically grow

  • @mariahg1111
    @mariahg1111 2 роки тому +1

    Had to sub, like, & comment. Dropping gems for sole proprietors like me. 💎

  • @sojibrajii
    @sojibrajii Рік тому

    Hello,
    Are u looking for a UA-cam thumbnail designer?

  • @Filthy_Goblin_44
    @Filthy_Goblin_44 2 роки тому

    Good info but I feel like I'm listening to the wheelchair kid from Malcolm in the middle

  • @traceed7751
    @traceed7751 Рік тому +1

    Amazing Info! Thank you! 🤗

  • @Mr.MikeCeez
    @Mr.MikeCeez 2 роки тому +1

    Great Video! 🔥🔥🔥

  • @DownhomeDana
    @DownhomeDana Рік тому

    Great info! Thank you!

  • @yadderestradatransportatio3962
    @yadderestradatransportatio3962 6 місяців тому

    Thank you so much.

  • @kapriamonay8801
    @kapriamonay8801 Рік тому +1

    Thank you