Will changing my entity name affect my business history?

[Rebelatheart]

Hi,

I have begun reading up on building business credit. One thing I read was that if you plan on ever getting a bank loan, certain industries are high risk to them such as real estate investment, and having anything like "property" or "investments" etc in your business name could hurt you when it comes to lending. I think I read that even your score with Duns can be affected if your SIC code is from a high risk industry. 

Anyway, my plan was to change my LLC name to something more vague. I could just do a new one, but I've had my current entity for almost 5 years now and from what I can tell, the older the entity the better.

My question is, if I change the name of the LLC, will my entity still be looked at as almost five years old by lenders and creditors, or will I basically be starting over the clock? I'd hate to change my name just for it to hinder my credit building instead of helping.

Any thoughts would be appreciated.

Thank you

[Creditaddict]

No. The entity holds the EIN and the name and EIN are just like a person and social.

New name, New EIN, NEW HISTORY.

[Rebelatheart]

HI,

From what I just looked up, as long as it is only a name change, and the structure or type of entity is not being changed, you keep the same EIN.

[Creditaddict]

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@Rebelatheart wrote:
HI,

From what I just looked up, as long as it is only a name change, and the structure or type of entity is not being changed, you keep the same EIN.

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If you can do that then you would be okay.

[Rebelatheart]

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@Creditaddict wrote:

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@Rebelatheart wrote:
HI,

From what I just looked up, as long as it is only a name change, and the structure or type of entity is not being changed, you keep the same EIN.

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If you can do that then you would be okay.

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Ok, thanks. Looks like it shouldnt be a problem. Hopefully lenders see it the same way since the EIN is the same.