Below is the overview of what most banks and lenders will require to ensure that your business meets lending compliance.

State Records: Your entity must be active and compliant. You will also want to use one of the following formations to establish business credit : Corporations which can consist of LLC, Partnership, S-Corp, etc.

To set up LLC or corporation go to http://shrsl.com/1mw3h

Federal EIN: An EIN is a unique identifier for your business .To apply for an EIN online, go to https://sa.www4.irs.gov/modiein/individual/index.jsp

You may apply for an EIN online if your principal business is located in the United States or U.S. Territories. The person applying online must have a valid Taxpayer Identification Number (SSN, ITIN, EIN).You are limited to one EIN per responsible party per day. (The “responsible party” is the person who ultimately owns or controls the entity or who exercises ultimate effective control over the entity. Unless the applicant is a government entity, the responsible party must be an individual (i.e., a natural person), not an entity.)