Hi,
I am trying to form a construction company under my name but I am worried that my personal credit history will weigh down my business growth. Is there any way to get around the bad credit history? I heard forming a LLC would help but I don't understand how banks and lenders will not check my SSN and only use my EIN. Will collection agencies have access to my new business account? I want to make this new business completely separate, so if I need to pull a loan for vehicles or materials, my personal credit will not affect the outcome.
Thank you in advance for your help.
John
I am trying to form a construction company under my name but I am worried that my personal credit history will weigh down my business growth. Is there any way to get around the bad credit history? I heard forming a LLC would help but I don't understand how banks and lenders will not check my SSN and only use my EIN. Will collection agencies have access to my new business account? I want to make this new business completely separate, so if I need to pull a loan for vehicles or materials, my personal credit will not affect the outcome.
Thank you in advance for your help.
John