If you want business credit no personal guarantee then you are going to have to build up credit in your business’ name rather than your own. This can be accomplished a couple of different ways but they all almost always involve beginning building up your business credit with no personal guarantee with, well, your personal guarantee. In other words, you cannot build up your business credit without putting your personal credit on the line to prove that your business will pay back the loans that it gets and that there is the income to do so.

A business line of credit no personal guarantee starts with you applying for a business line of credit that is attached to your business bank account that is based upon your personal credit history. You may have to prove that your business has the income for the line of credit, but if you are going with your bank that all of your business income goes through this shouldn’t be a problem. Once you can establish that your business is successful at using its credit, then you can get things like business credit cards no personal guarantee and business lines of credit no personal guarantee on them.

To get business credit guarantee no personal involvement you will have to build it over time just as you did with your regular credit. However, after a couple of years of being responsible with your business credit and using business credit cards successfully and responsibly you will be able to apply for credit based solely upon your business’ history of credit and proprietary credit score. In fact, you may be able to eventually have your business credit score help your own personal credit score by applying for larger amounts of credit with your business credit history as a guarantee.

There are many reasons for your business to have its own credit score and credit history. Business credit cards are one of these. Business credit cards are great because they allow you to issue them to employees that need to purchase items for the company and not have to have petty cash laying around your store. You can track their purchases online and you get to keep any card rewards that come with your credit cards. Rewards can add up very quickly when you are using credit cards to pay for business expenses, which can run into the tens of thousands of dollars per month.

Another reason to build up your business credit is that you can qualify in the future for a business loan, should you choose to add a new product loan or expand your business further. Getting a million dollar loan is quite difficult with only a personal credit history to back up the loan, even with the income that you earn from your business but with business loans this is quite common and your lender won’t bat an eye if you have a sound financial plan for your business expansion and you have the credit history and income to back it up.