Posted by Ed Garcia on December 27, 2000 at 12:27:22:
In Reply to: Building Credit for one man Corporation posted by Omo_Oba on December 27, 2000 at 11:02:05:
Omo Oba,
You don't need a step by step outline. Let common sense dictate. A Corporation is it's own entity. You would establish credit in the same manner, as you would if you were establishing your own credit. My suggestion is just to start purchasing items, such as computers, fax machines, office furniture etc., or any items in your corporate name. Try to finance them and co-sign for your corporation. At first, when borrowing on behalf of your company, you're going to have to use your credit and be liable.
As time goes on, you Corporation will have established it's own credit. Make sure that you establish an income stream for your corporation so that it has income.
When purchasing a property, vest it in the corporate name as well as yours. Depending on the lender, you may only have to be put on the loan.
Sorry, I'm running short on time this morning Omo Oba or I would have been more explicit.
Ed Garcia