What makes me established? I started the co. five years ago, but now I find it hard to really take it to the "next level". What makes a company established in the eyes of a bank?Even if you incorporate, until your business is established, they will still look to the principal (you) for credit rating. Get used to paying cash for awhile.....sucks but is quite doable.
The Answer is at www.dnb.com click duns number link . Look to the left and click those links and you will have the answer . You can build your business around your duns number for free ,if you do it yourself .What makes me established? I started the co. five years ago, but now I find it hard to really take it to the "next level". What makes a company established in the eyes of a bank?
Thanks!What is the purpose of your loan? Are you just trying to establish credit? You may have already done this, but I'd start establishing credit with a local janitorial supplier and a couple other vendors. Then start getting out and meeting the bankers in your area. If you can show them that you have a good history of paying off debt to your suppliers, then they may extend you a line of credit. If credit is an issue, then they may require collateral. Once you have the line, buy a piece of equipment in order to use the line and make your payments on time.
Establishing credit takes some time, but this would be one way to go about it.