Hello everyone. This looks like a great community for advice and learning. I've been digging in for a few days now.
Anyways, I am using my experience in internet marketing to start an official internet marketing corporation. I have formed an LLC, and plan on establishing a business credit profile, then accessing business funding to really take things to the next level.
I have a couple questions regarding this. I have read a ton about this topic, but there are a couple gaps that I was hoping you all would fill in.
First, I'd like some confirmation on this. I have learned thus far that I need to:
- Get the LLC
- get my EIN and DUNS #
- Open about 3 business bank accounts
- Establish at least 5 trade lines that report to D&B regularly
- Allow time for the D&B and the other agencies to establish positive credit ratings
- Apply for business credit cards and gas cards
- Apply for SBA loans
Does that sound like a pretty basic set of guidelines?
Here's where I'd like advice. I don't have ANY personal assets, and I ruined my credit awhile ago. So, if I establish a solid credit profile for my corporation, can I still get funding without any personal guarantee?
Also, what kind of time frame is realistic to accomplish all of this? I have studied a course on building business credit in this manner within 5 weeks. Is this realistic?
Thank you for any advice or thoughts you can provide.