Have you heard the stories, “I can’t open a business. It takes too much money, and I’m already broke,” before from people wanting to start their own businesses? You may even be one of those people that believe you do not have enough money to start a business. Starting a business is expense, you are correct, but unsecured business credit can help you start a business without ever dipping into your personal checking or savings account. That’s right – here is how you can start a business without risking anything personal to you…Unsecured Business Credit!!
Unsecured Business Credit: How Everything Stays Separated
Your personal credit and assets are linked to your personal identification number, better known as your social security number. When you apply for a personal credit card or loan, the lender asks for an asset (your home, car, etc), and they secure the guarantee to your social security number.
The funding you need to start a business, whether that be through loans or credit cards, does not need your social security number (or a personal asset, for that matter) when you apply. Instead, you are asked to provide your EIN, or Employer Identification Number, as a form of identification when you apply for an unsecured business credit loan. An EIN is a nine digit number the IRS issues your business for tax and credit building purposes.
This number separates everything related to your business from everything related to your personal life.
Unsecured Business Credit: But, Wait, I Am Not An Employer
You still have the capability to apply for an EIN even if you do not have employees under you. Sole proprietorship does not disqualify you from receiving unsecured business credit. You can open your business as a sole proprietorship and change it later to a corporation and your unsecured business credit will not suffer. As long as your business is created and registered, you should be able to apply for an EIN. An EIN does not cost you anything, and it is the single, most important thing you can do for your business.
Unsecured Business Credit: Get Out There And Start Your Business Today!
An unsecured line of credit for your business is the easiest and safest way for you to get the money you need to start your business. You will no longer need to worry about having enough money or putting up your means of transportation to start a business. You can go out there, and start your business today without ever having to worry you may come home to a boarded up house!