This podcast interview features Ray Jetton from J.Galt Financial Suite discussing how small businesses can establish credit through their Employer Identification Number (EIN). Ray shares his experience struggling when clients owed him money after bankruptcy. Through J.Galt, businesses can set up foundations and report expenses to credit bureaus to develop credit history. This allows accessing better financing options. The discussion provides insights for beverage businesses seeking funding for inventory, facilities, or growth.
Key takeaways:
- Establishing credit through an EIN number rather than personal guarantees or credit can help protect personal assets and separate personal and business finances.
- J.Galt can help businesses get their EIN credit set up much faster, in 10-12 months, compared to 5-7 years if done alone.
- Building business credit allows access to better financing options like loans at lower interest rates.
- Reporting business expenses to credit bureaus helps develop a positive credit history over time.
- Beverage and other small businesses can use EIN credit to fund inventory, facilities, payroll, equipment, and growth needs.
- J.Galt provides services to help businesses set up foundations, build credit profiles, and introduce them to vendors for financing opportunities.
- It's important for small business owners to seek professional help to properly separate personal and business finances.
J.Galt Financial Suites
Ray Jetton
Use Harvest when booking
a free consultation