BUSINESS CREDIT SERVICE: https://getfundedprogram.com/business...
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Business credit is credit in a business name that’s linked to the business’s EIN number. This is credit a business owner can get that is not linked to their SSN.
When built correctly, you don’t need to supply an SSN when applying for a loan. This means there is no personal credit check to get this kind of EIN credit.
When you apply for something like an auto loan, the lending institution pulls your personal credit using your name, address, and social security number.
This information is sent to the consumer credit reporting agencies, and they supply the lender a credit report with all the information they have relating to someone with a similar name, address, and SSN.
With this type of credit an inquiry is put on your consumer credit report, and your report is used to make the lending decision. Your credit is then reported to the consumer reporting agencies.
When you apply for something like a business loan, the lending institution pulls your business credit using your name, address, and EIN number.
This information is sent to the business credit reporting agencies, and they supply the lender a credit report with all the information they have relating to a business with a similar name, address, and EIN.
With this type of credit an inquiry is then put on your business credit report. They use your business report to make the lending decision. Your credit is then reported to the business reporting agencies.
It’s important to note that when applying for financing and credit using your business credit, do NOT supply your social security number on the application, even though they ask for it.
When you do this, they can’t pull personal credit because the lender can’t pull your personal credit without your SSN.
This forces them to only pull your EIN credit as they have your EIN not your SSN. This means you get approval ONLY on the merits of your BUSINESS credit report. They won’t review your personal report.
Note: some applications won’t allow this field to be left blank. In that
case, you can call the vendor to ask to have a manual review done.
I place a link in the description below of a great service that you can use to build your business credit.
So guys, now you know how important your business credit is. And you should take it seriously if you want to qualify for massive loan amounts in the future.