Many people say, that what you don't know is what will hurt you. That's not true. It is what you don't know that you don't know which will hurt you.

Many people say, that what you don't know is what will hurt you. That's not true. It is what you don't know that you don't know which will hurt you.

Please be advised that I am not an Accountant or Attorney - so prior to acting on any of the information presented in this article, be certain to contact a Tax and Law professional to get legal advice specific to your situation.

Most people are somewhat properly informed about their Personal Credit and what is takes to build and maintain a good FICO Credit Score. Keeping low credit card balances, submitting payments on time, utilizing different credit types, and the length of your credit history all play a major role in developing an individual's Personal Credit score. By dealing properly with your credit and judiciously investing borrowed money, you can leverage of your Personal Credit rating and further advance your net worth.

Did you know that just as there is Personal Credit, there is also Business Credit? Similar to Personal Credit which applies to an individuals credit worthiness, Business Credit applies to a company's credit worthiness. There are some similarities between Personal Credit and Business Credit, however in all actuality Business Credit is a whole another ball game.

Firstly, Personal Credit is tied to an individuals Social Security number as opposed to Business Credit which is tied to a company's (LLC, C Corporation, S Corporation, etc) Tax ID number, also known as FEIN (Federal Employer Identification Number).

As an individual you may only have one Social Security number for a lifetime, however on the other hand there are no limits to how many companies you can own, with each requiring a unique Tax ID. And while there are usually limits to how much personal credit an individual can obtain, there are essentially no limits to the company's ability to obtain Business Credit.

Computing Personal Credit ratings is the responsibility of three major credit bureaus; Equifax, Transunion, and Experian. Conversely, the majority of Business Credit ratings and reporting is the in the hands of a single company known as Dun & Bradstreet. Primarily based outside of the United States, it methods of operations vary from those of the three major personal credit bureaus.

Following a specific method procedures will ensure you maximize your Business Credit in the minimum time possible. this does not mean that if you don't follow this method, you won't get Business Credit. But not following this clear path will most likely lead to delays in building up business credit and in not getting as much business credit as you would like to have.

The truth of the matter is simple; leveraging OPM (Other Peoples Money, i.e. Business Credit) can allow an individual to launch, grow, and expand a business in a much faster time frame than having to save the same amount of money themselves.

A friend and business associate of mine obtained a $100,000 business loan utilizing the credit rating of a company in business for only one year. The idea and process so intrigued him that he approached his mentor (who helped him in obtaining the business credit loan) about starting a business to educate others in applying for and receiving large amounts of Business Credit.