Establishing Virtual Business Location...

[Subsignal]

So I would like to establish a business location that is NOT my home because I suppose to build business credit, you cannot use your home as your address of business. SO, I suppose it's recommended to get a virtual office that is in your hometown. Mine is only 5 miles away from me and it's $100 per month but the question I had was is it okay if I get one that is 25-30 miles from me instead because it's only $49 per month? Does it matter that much if it's not EXACTLY in my home town?

Thank you.

[Creditaddict]

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@Subsignal wrote:

So I would like to establish a business location that is NOT my home because I suppose to build business credit, you cannot use your home as your address of business. SO, I suppose it's recommended to get a virtual office that is in your hometown. Mine is only 5 miles away from me and it's $100 per month but the question I had was is it okay if I get one that is 25-30 miles from me instead because it's only $49 per month? Does it matter that much if it's not EXACTLY in my home town?

Thank you.

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1. It does not matter how far away it is especially when talking such a short "commute" if really going to office I don't think 30 miles is anything.

2. Why can't you establish business credit for a home address? granted it is easier and you look bigger by providing a business address that matches up to a commercial address but I have build many of business credit profiles from my home address.... what is important that matches for auto and quick looking manual reviews is that the address with the state for your LLC, EIN or what not matches that of the address you are using for credit and such.

Just get yourself an 800 # through Ring Central and unless going for big credit and without pg etc. you will probably not see any issues going through verification.

[Subsignal]

So I don't NEED to get a business address? My goal is to get a few business credit cards with limits of 10k or higher. So as long as my business papers and where I filed matches my home address, I should be good? Thank you.

[Creditaddict]

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@Subsignal wrote:

So I don't NEED to get a business address? My goal is to get a few business credit cards with limits of 10k or higher. So as long as my business papers and where I filed matches my home address, I should be good? Thank you.

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yeah if your credit is good the banks are only concerned about your credit and your money... not weather you have a brick and mordar business.

[Subsignal]

Well I'm not really caring about a bank per se. Like I said, I wanted to be able to get a few nice credit cards with limits above 10K.

[myjourney]

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@Subsignal wrote:

Well I'm not really caring about a bank per se. Like I said, I wanted to be able to get a few nice credit cards with limits above 10K.

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I would advise you do some more research I have researched this a lot early during my business start up and what I found is banks will not lend to you if they determind you have a virtual office see attached example I have read articles from D&B as well as others that confirm this to be true YMMV

http://samnii.com/Business_Credit_Dos.html

[Subsignal]

Thank you, that really helped. Appreciate it. 

[myjourney]

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@Subsignal wrote:

Thank you, that really helped. Appreciate it. 

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Not a problem just didn't want you proceed w/o all the facts and then make a costly mistake that would hurt your efforts. Setting up a business can be a lot of pitfalls if not given the right info. 

I do have a question why can't you use your home address is it a zoning issue or local ordinance?

[Subsignal]

Im sure I can use my home address. I just read other articles saying not to so I was a bit scared. lol. 

If I open up the 5 trade lines, then go to the second tier, and then third tier, how long abouts will that take me? My goal is to eventually acquire 2 or 3 10K+ credit cards.

Thank you again. : ]

[Creditaddict]

What does your credit look like?