How Much Does Corporate Credit Cost To Complete

How Much Does Corporate Credit Cost To Complete

Outside the initial cost of the program, one will most likely need to register an LLC ($70), website ($10), hosting ($50), creating a logo ($5), business letterhead ($5), a business phone number ($10) and potentially a business address ($50 / mo.) if one is unable to use their own address. There will also be required purchases from different vendors (varies) so they can report to the business credit bureaus and build the corporate credit profile. We aim to have (28) "payment experiences" in total from vendors, with the average spend requiring $50 for a purchase. If a vendor reports to D&B, Experian Business and Equifax Business - that counts as (3) payment experiences. Thus with an average of $50 spent, at a minimum it will require 10 vendors ($500) and a maximum of 28 vendors ($1400). Total, one can expect to spend as little as $650 and at most $1800 to build $50,000 in corporate credit in 6 months.

Now when one takes into account that there will be grocery net vendor accounts, gas station (fleet card) credit cards, home goods, furniture vendors and so much more - all one needs to do is make sure they STOP placing purchases on personal cards and START putting all purchases on the corporate credit cards. If one does this, the spend can be as low as $150 to build $50,000 in corporate credit since all the purchases will be "standard living expenses" one already needs and pays for.

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