Applying for a Business Loan Business Entities

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The best structure for building business credit is one that will: 1. Separate you from your business 2. Has it own tax identification number. 3. Separate the debts of the business from that of the owners/officers. The business structures that will do this are: 1. S Corporation 2. C Corporation 3. Limited Liability Company (LLC)This is not to say that a sole proprietorship or partnership can’t build a business credit profile. The disadvantages however is the business will not be separate from the individual owners. This program goes in to great detail regarding the advantages and disadvantages of the various entities

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