Building business credit is crucial, and a question for many Business Owners or Start-Up Entrepreneurs is how to get credit for their business or business ideas especially in an economy that is in a severe "Credit Crunch".
This concept of obtaining credit in a tightening financial market becomes even more seemingly out of reach when an Entrepreneur is faced with a lack of positive (or overall) credit history, has minimal or no experience, and has little to no assets.
Even if a Entrepreneur has good credit, strong assets and years of experience, many still search for a better way to obtain credit they need for their business or idea without having to tie up all of their assets or use them to secure the financing they need.
Separating business and personal assets is usually to add some protections to the individual.
An idea that has been around for some time and seems to be picking up steam as of late is Aged Corporate Credit.
Corporations, just like people after they have been around for some time build credit.
The credit built by the Corporation is what is usually used in the business world versus an individual Fico Score in the personal world.
When a corporation becomes idle there is still credit just as in most cases when personal credit is used (and then the personal credit remains idle) a credit score remains.
The credit left by the Corporation is Aged Corporate Credit.
Of course Aged Corporate Credit is not a main stream approach, and there are many advertising services dedicated to this concept and charging hundreds or thousand of dollars to do so.
Understandably, when there is little known about a subject the costs can go up since there is little to compare.