Build Business Credit Basics
Business Credit
Business Credit
Credit Profile
Credit Profile
initial business credit
An initial business credit profile takes only 30-90 days to set up and build.
personal credit reporting
There is no personal credit reporting against business accounts unless you’re the guarantor for the account. If you fail to pay, your personal credit takes a hit. This is why building a business credit profile, separate from your personal credit, is best.
personal guarantor
If you’re not a personal guarantor for the business loan, a delay or fault in payment doesn’t impact your personal credit.
personal liability
Most business loan can be obtained without personal liability or guarantee which means, in case of default no one can pursue the business owner’s personal assets.
business credit profile
Anybody can view business credit profile of the business which makes the business more credible for clients, competitors, loan lenders and loan issuers. This also makes the business susceptible to identity theft. Since anyone may obtain a business credit report without the permission of the business owner, then this leaves the business wide open for identity theft claims.



There are 3 types of business vendor credit:
Initial Credit
Initial Credit
Store Credit
Store Credit
Cash Credit
Cash Credit
Business Setup
Business Setup
Business Credit
Business Credit

The quickest way to fail a business credit approval is a lack of compliance.
- EIN?
- Business filed in your state as a foreign corporation or foreign LLC?
- Business licenses filed?
- Business name on application matches state filings and business licensing?
- Website?
- Phone number?
business loan
To separate business loan from personal loan the business must be a separate entity or body and not a sole proprietorship or partnership. A business is considered a true business only if its company abbreviation is under Corporation or LLC.
EIN or tax ID
Every business must have an EIN or tax ID whether the business has any employees or not, if not then the business won’t get any credit approval wherever applied for. The EIN of the business is used by all banks, agencies and financial institutions.
physical address
A business must have a physical deliverable address in a real brick or mortar building. Don’t use a PO box address or UPS address, or home address.
411
The business must be enlisted under 411 information directories with a dedicated business number which will be verified by lenders, creditors, vendors and even insurance providers.



800 Number
800 Number
Business Licensing
Business Licensing
Legal Documentation
Legal Documentation
Business Credit Report
Business Credit Report
DUNS is Free
DUNS is Free
Business Report
Business Report
credit scores
In personal credit scores depend upon payment history. The D&B score is subjective because business credit is unregulated.
D&B provides
D&B provides a detailed report of payments reported. They also make a report even when there’s no payment history. D&B is in the business of selling reports of their opinion of your business. D&B also includes information that has nothing to do with payment history. They calculate scores based on subjective means they call “proprietary.” But really, they’re trying to make a report they can sell. Companies that sell business credit programs defend this practice to not offend D&B.
D&B report
D&B report also provides total asset of the company, liabilities, capital, net worth and sales report. They’ll calculate an opinion score when they have no financial data to go on. Why? D&B seeks to sell a report.



Annual fee
Annual fee
Vendor Account
Vendor Account
Vendor Credit
Vendor Credit
411 Information
411 Information
Starters Vendors
Starters Vendors
starter vendors
Quill Office Supplies

- Never ever put SSN numbers in application while applying for Business credit.
- Always pay bills early or on time.
- Don’t start with store credit which results into direct denial before you have five reported accounts.
- Don’t apply for cash credit without 10 reported accounts.