These are the steps I'm given to start building my business credit:
A physical street address. (You cannot use a PO Box, Virtual office and/0r a
mail services facility). A home address is OK. A residential address cannot be
shared with other company names.
0 A land telephone line. (You cannot use cell phone numbers). Here are
some options for you to consider:
a. Change your residential line to a comercial line
b. Have a new land line installed for your corporation.
c. A phone provider: VoiP
I would like to use my apartment address where the business is located and a smart phone that links with google voice so that any phone calls I receive from that specific number I would know are for the business. Do you think this would work properly? I'm being told to join regus or another virtual office, but I don't like the idea of paying $65-85 a month for a service I can do myself.
When establishing credit, whether for a person or for a business, the financial institution wants to see the same thing in both cases. Namely, they want to see some evidence of stability and some proof of income or revenue. A physical address is a must for a business and a personal residence is completely fine in this day and age seeing how many people operate a personal online business that have no need for a separate physical address to operate. I don't think that joining a virtual office site is really going to do anything for you so I wouldn't bother with the expense.
As to the issue of the land line, I think this is another thing that is changing over time. Many younger people have no land line at all. I don't that adding a new land line to your apartment is really necessary here. The most important thing is that you can separate your personal calls from your business calls via your smartphone and Google voice and your business has its own separate phone number. I think that this basically meets the requirements that most lenders are looking for. It sounds like you have already got a start and put some real thought into this. Good luck with growing you business.