Twelve year old shelf company for $2295 

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In most cases, capital, revenue and business credit make up the life blood of your company. 

Business activity is monitored through the EIN and name of the company. 


Business credit is partially scored on the following:

  • The market share of the company, and its activity, 

  • Ability to pay outstanding loans and lines of credit. 

  • The name and reputation of the officers on the public record

  • Address of the company.  Some neighborhoods and cities fair better.  This is unfair due to the profiling of neighborhoods by business credit reporting agencies.  Unfortunately, this is legal because business credit isn't regulated.

  • Years of operation.

  • Industry.

  • Demographic data

  • Annual revenues

  • Storefront audit

  • Ecommerce: YELP.COMCITYSEARCH.COMZAGAT.COM, 411 information, WHOIS info matches state records, social media presence, credit cards accepted, company principals on the website, McAfee Seal?  Verisign Seal?  TrustE seal? Age of website?  Testimonials?

  • Marketing, press releases, advertising

  • Good standing with the Secretary of State, business licenses filed

There are numerous and unexpected challenges to obtaining business credit.  As stated above, the company is partly assessed on the persons associated with the public record of the company.  The other factors, such as rent district of where the office is located, the demographic makeup of the address and per capita income of that area, are not fair to those who seek a level playing field in obtaining business credit. 


How can you insure a more level playing field?

1. Your business must appear legitimate by providing consistent information on state filings, local permits and licenses, and publicly available information.

2.  Business credit will always favor the corporation and LLC because they’re more organized.  Sole proprietorships and partnerships present the risk of full liability.  The corporation and the Limited Liability Company (LLC) limits your liability.

3.   Make certain that the name on the business credit applications is exactly as it appears on the articles of incorporation, Secretary of State registries, business licenses and online. Since many companies have similar names, any typo may cancel out an application for business credit.

4.  Compliance is critical.  The company must be filed with the Secretary of State, business licenses, permits must be obtained and any other compliance requirement addressed. 

5.  The address of the company plays a role in profiling the business.  Avoid UPS Stores, PO Boxes, and mail drops.  They are considered high risk.

6.  Obtain a utility bill in the name of the company, such as an electric bill, water bill, or a lease to validate the company address.

7.  US Citizens and US Permanent Residents have SSN's.  Companies have EIN's.  Without the EIN, you can’t open a bank account or apply for business credit. 

8. The company needs a bank account in the company name.  When a lender offers a line of credit, it will also invite your business to open a new account where the funding is available.  The number of digits in the account balance may also be important.  Consider depositing at least $1000 in the business bank account.

9.  Consider obtaining a business credit card without a personal guarantee.  Also obtain a business credit card with a personal guarantee.  Keep those accounts separated by financial institution.

10.  A personal guarantee may be avoided when there’s enough business activity to support the loan and payment history.  You should start building the business credit early without a personal guarantee.  If you’re seeking a large loan amount, a personal guarantee may be required if the company isn’t old enough to meet the lender requirements.

11.  Your goal is for the documentation to support the company’s operations. Documentation must be presented for loan and credit approvals. The more business you conduct with diverse industries and clients where you can show a good payment history, the greater loan and credit opportunities will open for you.

12. If there’s a default in the payment of business credit, it may count against you in future applications when your SSN is tied to the debt.  In other words, if you agreed to serve as guarantor for the business loan, then it will impact future applications for business credit.  If you didn’t guarantee the loan, it may or may not pose a future impact on the future business credit.  It depends on if the creditor reports to business credit bureaus.  There may be an impact depending on how they characterized the default.  If the loan was obtained using the EIN of the company, and without your SSN, then it’s hit or miss whether there will be lasting impact on future credit ratings involving any future business project.  If you tied your SSN to the debt, then there’s a guarantee of lasting impact on the business credit and personal credit sides.

When you’re not the guarantor for the business loan, the creditor may go after the assets of the company, but not you.  When you’re the guarantor for the business loan, the limited liability protection of the company won’t keep the creditor from making you personally responsible for the unpaid debt. 




  The possible ceiling of available business credit limit is many times higher than that of  consumer credit.  Be patient!  Business credit may take six months or more to build. 


·         To obtain business credit, a financial organization will look at the business credit profile.  If the profile doesn’t look complete, they may extend a small amount of credit.  If so, build that by paying your obligations early. 

·         When applying for business credit, leave the Social Security Number blank.  Make sure to write in the Employer Identification Number (EIN) of the company where provided

·         Obtain a business phone number and register with 411 information services.  Also obtain a toll-free number and fax number.

·         The company website should display what services it provides or sales items, the company address, phone number(s), fax number, email and mention the principal’s names.  The company email should contain the domain name and not a free email service.

·         Vendor accounts or a vendor line of credit is initially for building up the company’s business credit under net 15, net 30, net 60 or net 90 days to pay. This means whatever purchases have been mad,  that loan amount must be returned within that time or agreed to in the contract. This are common terms are for startup businesses.

·          Build out at least five (5) net 30 pay accounts reporting to your company. Some of the vendors may require prepaid order for considering your business terms. Some vendor companies don’t report back to business credit bureaus for the business.  Find out if your vendor reports the account.

·         Once the five vendor trade lines are approved, the company needs to enroll for revolving accounts.  High priority accounts involve Walmart, Amazon, and Apple.  This readies you for Visa, Mastercard and American Express.

·         Companies such as Apple, Lowe’s, Walmart, BP, Shell, Macy’s, Nordstroms extend business credit.  Business and shipping supplies?  Uline.com and Quill.com both report to business credit bureaus.  Provide them with your company’s EIN and they’ll check with 411 information services.



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