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    1 Reply Latest reply on Nov 6, 2008 12:39 AM by NoBullFunding

    Will my own Personal Credit affect my business credit

    Wowzers Newbie
      would anybody like to comment on this topic? I have always worried that my personal credit score will adverely affect my business once I start breaking even? If so, how do I avoid making some of the simple mistakes? And which type of business should I create either LLC? or INC? I am self funded and searching for a partner / investor so its vital that I don't have any issues..
        • Re: Will my own Personal Credit affect my business credit
          NoBullFunding Scout

          Try to think of business credit and personal credit as the same thing, because for most small businesses, they are. Of the two, your personal credit is MUCH more important. Don't waste your time with companies that try to sell you services to establish business credit. As a lender, I NEVER declined a loan because a business didn't have a credit history. On the flip side, declines because of personal credit are pretty routine, so focus on that.

          As far as business type, that they type of thing that you should talk to a CPA for. There are a lot of factors that go into it, so a message board isn't a great place to get advice about it.