July 2025
MESSAGE FROM THE BOARD
My Experience Building Business Credit for Our LLC
When my husband Bryant and I started investing in real estate, we tapped into our personal savings and even dipped into retirement funds to get the business going. That capital got us in the game, but it was clear we couldn't keep pulling from personal resources to grow. To keep scaling, we needed access to more funding—and ideally, "other people’s money."
That’s when I started looking seriously into building business credit for our LLC. I had attended a few online real estate investing webinars where presenters talked about how building business credit could help fund rehabs, cover expenses, and even assist with future down payments. It sounded promising—but also intimidating.
Done-For-You vs. Do-It-Yourself (With Help!)
At first, I was overwhelmed. I was afraid of making mistakes—and perfectionism almost got the best of me. I considered hiring a company to build our business credit for us. Companies like Fund and Grow, MB Capital Solutions, and Entrepreneur Funding Experts offer “Done-For-You” programs, where they apply for credit on your behalf. These programs either charge an upfront fee or take a percentage based on how much credit they help you obtain. These companies tout securing up to $150k in business credit.
These services may be great for some, especially if you’re short on time or need results quickly. Do your own research to decide if one of these programs aligns with your goals and budget.
For us, money was tight. We were in the middle of our first rehab, bleeding funds every month without any rental income coming in yet. Business reserves were shrinking, and I didn’t want to take more from our personal accounts just to pay for a convenience service.
That’s when I remembered that one of the programs I had already purchased for real estate investing education actually included guidance on building business credit. It wasn’t a full-service option, but it offered step-by-step instruction and support. So, I went with the Do-It-Yourself route—with help.
Taking the DIY route felt like a growth opportunity. I figured if I learned the process once, I could repeat it with future businesses and share what I learned with others. It reminded me of that Chinese proverb:
“Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.”
I kept that in mind as I started the journey—and I'm glad I did.
First Round of Business Credit Applications
The first business credit card I applied for was the Chase Ink Business Cash. I don’t think I filled out the online application correctly which might have hurt my chances of getting a higher limit. The business was approved for $3,000—not a huge amount, but it was a win because I had finally taken action.
Next, I applied through our local bank Geneva Bank and Trust, where the LLC had a business checking account. I filled out the application in person with help from a banker. This time, business was approved for $12,500 FNBO credit card.
One big lesson here: relationships with your bank are powerful when building business credit. And another: Don’t let perfectionism stall your progress. Just get started.
A few months later I applied for a 2nd Chase credit card Chase Ink Business Unlimited and business was approved for $5,000.
When our rehab went way over budget, the 0% interest credit cards we had obtained came in handy. I used them to purchase materials without having to use our own cash. We paid off the balances before the 0% promo period expired. I firmly believe that using 0% business credit cards for major expenses is a smart, short-term strategy—if you're disciplined with repayment.
Second Round and the Next Step
The following year, I felt more confident. I applied for:
American Express Blue Business Plus – Approved for $20,000
Bank of America Business Advantage Unlimited Cash Rewards – Approved for $2,000 (I set the amount for secured card)
Bank of America denied business for an unsecured card but they offered a secured card instead. I accepted the offer to help establish business credit history, knowing it was a stepping stone. Some credit is better than none.
Different banks report to different business credit bureaus, including Experian, Equifax, and TransUnion. Some online resources share info about which banks report to which bureaus—but it’s not always consistent. I suspect Bank of America used one of the bureaus where the business didn’t have a strong credit profile. After a year of good credit history, Bank of America converted the account to an unsecured credit card.
My next goal is to secure a business line of credit (LOC). I’ve already had some preliminary conversations with our bank, and now I just need to schedule the appointment and complete the application. A LOC would give us more flexible access to capital, especially for future deals or emergency repairs. I decided to hold off on applying for additional credit cards. I would rather align applying for new credit cards when there is a known upcoming major expense in order to maximize on rewards and credit card sign-up promotions.
Final Thoughts and Resources
I skipped over many of the foundational steps in this article to keep it short and share my personal experience, but know this: you need to have certain basics in place before applying for business credit. I already had these in place before I started building business credit. These include:
− Proper business registration (LLC, EIN, etc.)
− Business address (not a P.O. box)
− Business phone number and email
− A business bank account in good standing
− A D-U-N-S number from Dun & Bradstreet
If you’re just getting started, I highly recommend reviewing the following resources:
− Dun & Bradstreet: How to Build Business Credit
− Nav.com: Understand Your Business Credit
− NerdWallet: Best Business Credit Cards
− Fund and Grow
− MB Capital Solutions
− Entrepreneur Funding Experts
I’m not an expert—but I am someone who took action, made mistakes, and kept learning. If you need access to a large amount of capital fast, using one of the Done-For-You companies may be an option for you. Building business credit has allowed our LLC to stop relying on personal funds. It’s also simplified recordkeeping and prepared us to scale with confidence.
If you’re on the fence about getting started, I’ll leave you with this: Don’t wait until your business is desperate for cash. Start building business credit now before you need it and while you have time to learn and grow.
Belinda Moore
Chicago Area Real Estate Investors Association - Newsletter
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CAREIA Monthly General Meeting
Monday, July 14, 2025 @ 7:00 p.m.
Networking starts at 6:45 p.m.
Hyatt of Lisle • 1400 Corporetum Drive, Lisle
Topic: : Why Hard Money Is Cheaper
Key Note Speaker: Rob Fishbein
https://www.careia.org/event-6209921
Short Term Rental Sub Group Meeting
Monday, July 21, 2025 @ 7 p.m.
Portillo's Hot Dogs, 531 N. Randall Rd., Batavia, IL 60510
Anyone who has an interest in investing in short or mid-term rentals are invited to attend our monthly STR sub group meeting. Each month we will have an open forum to discuss all things short term rentals.
https://www.careia.org/event-6209923
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Monday, July 28, 2025 @ 6:30 p.m.
Portillo's Hot Dogs, 235 E. North Avenue, Glendale Heights, IL 60139
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McDonald's off Highland Avenue
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CAREIA Monthly General Meeting
Monday, August 11, 2025 @ 7:00 p.m.
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Hyatt of Lisle • 1400 Corporetum Drive, Lisle
Topic: TBD
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https://www.careia.org/event-6219957
Short Term Rental Sub Group Meeting
Monday, August 18, 2025 @ 7 p.m.
Portillo's Hot Dogs, 531 N. Randall Rd., Batavia, IL 60510
Anyone who has an interest in investing in short or mid-term rentals are invited to attend our monthly STR sub group meeting. Each month we will have an open forum to discuss all things short term rentals. https://www.careia.org/event-6252574
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Monday, August 25, 2025 @ 6:30 p.m.
Portillo's Hot Dogs, 235 E. North Avenue, Glendale Heights, IL 60139
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Library Book of the Month
Real Estate Note Investing: Using Mortgage Notes to Passively and Massively Increase Your Income
Welcome to the other side of the real estate business! Do more deals, maximize your current portfolio to its full potential, and decrease risk—all through mastering finance and leverage in this introduction to the note investing business.
Whether it’s through mortgages, student loans, or credit card debt, nearly all of us (especially real estate investors!) are in the note business. The trouble is, most people are on the other side of it: writing checks to note owners rather than cashing checks as note owners.
This isn’t another cookie-cutter "how to" book—instead, Dave Van Horn takes readers on a journey with him as he looks back over lessons learned across three decades of real estate investing, and the path that led him to his current success in the note industry. He teaches by example, illustrates with real-life stories, and gives a 30,000-foot view of the note space.
Whether you’re a wholesaler, rehabber, landlord, or even turnkey investor, reading this book will help you turn your focus to the “other side” of real estate. No matter your level of experience in the real estate business, the strategies in this book can help you build sustainable wealth today and for years to come.
Inside, you will learn how to:
- Borrow smarter by making debt your friend
- Raise money for your investments easier by understanding and appealing to private investors
- Squeeze more profits out of the deals you’re already doing by utilizing creative offers and multiple financing strategies
- Scale your investing through a passive investment vehicle that is backed by hard real estate without the tenants, termites, or toilets
- Use note investing to pay for expenses like student loans and life insurance, or simply to provide additional cash flow for you into retirement
- Become the bank and begin to use every form of leverage you have available
- And much more!
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Sometimes you will find you may want to purchase the book or program after you borrow it. Great, but aren't you glad you didn't pay for all the ones that just weren't right for you?
To check out materials:
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