How do I get business credit without using my social security number?

June 5, 2010 by admin · 6 Comments
Filed under: Credit 
business
Mario asked:

I just recently started my own small business after watching my boss make tons of money off of my idea. I’ve been trying to obtain business credit but I am having a problem, because I am a new business. I do not want to use myself as a personal guarantor due to some credit issues I have gained while in college, and co-signing for my ex. So if you have any tips please feel free to post them. Thanks for your time.

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Comments

6 Responses to “How do I get business credit without using my social security number?”
  1. MadMan says:
    June 6, 2010 at 5:52 pm

    Sorry but you can’t. You will need to use your social or you will not get any money. MadMan

  2. Credit Trauma says:
    June 9, 2010 at 7:56 pm

    Unfortunately, you’ll always have to use your social security number to apply for business credit. Why don’t you work on repairing your own credit so this won’t be an issue for you?

    For a simple 8 step system to repair your credit, visit Credit Trauma

  3. tudorjason says:
    June 11, 2010 at 8:15 am

    Have you obtained a Tax ID number (TIN)? It can be used instead of a social security number for businesses.

    In today’s credit world, obtaining any financing may be a little difficult, at least at first. At my last job, my boss was able to establish a credit history from proving to banks that he could pay off regular bills on time, though he did use his personal credit card often because he was the president. Having a credit history for a business works differently than for individuals. When my boss would apply for credit, he would send over a list of credit references.

    Good luck. tudorjason

  4. bdancer222 says:
    June 12, 2010 at 12:55 am

    Most business credit cards will require a personal guarantee, even for large, well established companies.

    If you are looking for other types of business credit, like a line of credit at the bank, you will need a whole lot of documentation on your business and if it’s new, you will probably still need your personal guarantee.

    You can work at setting up credit with vendors and suppliers. Those that carry their own accounts will usually give you some kind of terms after the first pay on delivery order. You can also list your company with D&B but that will require financial documents. bdancer222

  5. Carly says:
    June 14, 2010 at 2:38 am

    for help ; open the third & fourth link in: Carly

  6. Anand says:
    June 16, 2010 at 12:08 am

    Why don’t you work on repairing your own credit so this won’t be an issue for you? Anand

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