The first thing to do is to have the firm properly registered. It is very important to have the enterprise registered as an LLC or a corporation. Registering the business under an alias is not necessary as it is tied to your assets.
If you have just launched the enterprise, the best thing to do is to dedicate yourself to the firm and build a good credit history and score. It may take up to two years of operation to achieve this. You must ensure that the score is always perfect and do not do anything that might make it look bad to lenders.
The next thing to do is to sign up with a trustworthy credit agency that will keep track of the credit transactions and monitor the credit score report. If you are applying for small loans, it is important you look at a system check the reports. Several systems can keep the records of all the transactions and the promptness in paying back debt. Strive achieve a hundred percent rating; this is the fastest way to get the credit you have been waiting for all those years.
Before people can trust you with any amount of money, they must be sure that you will repay them. Reliability is important when dealing with financial institutions. Also, remember that you are borrowing without any form of collateral. Thus, the firm must be credible. It should have amenities such as phone, postal address, and a fax machine just like any other firms. All should be registered in the firm name and should only be used for businesses purposes.
Documentation is important is a venture has to prove that it makes money. The lenders look at past data before the can determine if a firm is worthy of credit. The past data is also used to calculate how much to give. Thus, the owner must do proper documentation of every transaction in the firm. It gives credibility of the firm to show that they are making money and they are very profitable.
Lastly, the owner must know what it takes to maintain a perfect credit score. It will require the person to pay their debts on time. The other thing to note is that lenders are strict on repayment of the money borrowed, thus they must be able to repay. Failure to repay gives a bad credit report and other repercussions that follow. The business should be able to repay the money back with interest.
All the tips above are meant to guide the first timers in business. They will help anyone get credit without offering collateral. Ensure you follow all the steps.