New Prepaid Business Credit Card – Reports to Dun and Bradstreet and SBFE

November 9, 2021 By Marco Carbajo

New Prepaid Business Credit Card

Not all businesses can get approved for a line of credit or unsecured business credit card. Whether it’s due to limited credit or negative credit or little to no business credit, a prepaid business credit card offers an ideal solution.

With a pay-as-you-go option, the prepaid business credit card puts every small business on the right path to obtaining an unsecured business line of credit. Best of all, this particular card helps build your business credit.

In today’s post, we share a new prepaid business credit card that reports to Dun & Bradstreet and SBFE (Small Business Financial Exchange).

If you’re not familiar with SBFE, it is a trade association that collects massive amounts of small business payment data. This data is used by its certified vendors which are DUN and Bradstreet, Equifax Small Business, Experian Commercial and LexisNexis Risk Solutions.

So, although, SBFE is not a business credit reporting agency, the business credit reporting agencies use SBFE’s data to create credit risk products such as business credit reports.

How is a prepaid business credit card different from a secured business credit card?

With a secured card you supply a one-time deposit which is used as collateral and sets the credit limit for the card. For example, you provide a security deposit of $500 and your credit limit is set for $500. Your deposit is held as collateral in the event of default.
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5 Strategies to Build Business Credit Easily and Quickly

October 18, 2021 By Marco Carbajo

Build Business Credit

In today’s post we share five key strategies for building business credit easily and quickly. These five strategies provide a fast and efficient way to establish your business credit file with major business credit reporting agencies.

If your new to building business credit it’s important to recap on why it’s an essential step in the success of your business. So, what is business credit?

Business credit is the ability for a business to borrow money or access products or services with the understanding that the business will re-pay at a later date.

Building business credit allows a business owner to protect personal credit while establishing the creditworthiness of the business itself.

When you structure your business as a corporation or limited liability company it becomes recognized as a separate legal entity with the ability to enter into contracts.

Your company’s Employer Identification Number (EIN) is used to identify your business entity to the IRS, banks, lenders, suppliers, vendors and other businesses.

Your EIN is also used to create a credit file for the business with business credit reporting agencies such as Dun & Bradstreet, Experian Commercial, Equifax Business, Creditsafe and Ansonia.

Think of your company’s EIN as the social security number for the business.

Here are 5 strategies to start building business credit easily and quickly.
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Net 30 Vendor Who Reports to Multiple Business Credit Bureaus

June 29, 2021 By Marco Carbajo

Net 30 Vendor

In today’s post we’re going to share with you a net 30 vendor who reports to multiple business credit reporting agencies. Whether you are just starting a business or an existing business, this is an easy way for you to get business credit without a personal credit check.

First things first, if you’re new to the concept of business credit and why vendors play an important role let’s go over the basics.

What is a net 30 vendor?

A net 30 vendor (net 30 account) is a company who extends a credit line to another business with repayment terms of 30 days. (0% interest on NET30)

This repayment term allows you to purchase a vendor’s products or services using your approved credit line with the balance due in 30 days. With net 30 terms you conserve cash for a longer period of time.
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Top 5 Net 30 Vendors for Building Business Credit

January 5, 2021 By Marco Carbajo

Net 30 Vendors for Building Business Credit

In today’s post we’re going to share with you our top five net 30 vendors for building business credit. Best of all, these five vendors will extend credit to your business without a personal credit check or personal guarantee.

Whether your business is just getting started or if you’ve been in business for some time, these five vendors will provide you a jump start in building business credit.

As you know, establishing a credit file for your business occurs when companies, suppliers, vendors, lenders, etc. share your payment experience with an agency they share data with.

First, let’s cover why you should use a net 30 vendor?

When you get approved for a credit line with a vendor you have the ability to purchase their products and services on credit and defer payment for 30 days. This allows you to conserve cash flow while establishing business credit at the same time.

To get approved there are minimum requirements that virtually any business can meet. Such as an incorporated business, employer identification number, business bank account, etc.

The vendors we list in this post will not require a credit check or personal guarantor. This allows you to create a clear separation between you and your business.

Look at vendor credit as a stepping stone to greater financing opportunities. With multiple tradelines reporting, you provide other credit grantors the ability to assess how you manage your business credit. They assess your creditworthiness by pulling your business credit report.

Why build business credit?
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Score Based Business Line of Credit with Soft Pull and No PG

December 4, 2020 By Marco Carbajo

Score Based Business Line of Credit

I’m excited about today’s blog post because we are going to show you how to get an unsecured business line of credit with a soft pull and no personal guarantee.

This is an actual line of credit that you can acquire that not only builds your business credit but also protects your personal credit too.

So, before we get into details on applying, let’s talk about what a score based business line of credit is.

This credit line provides two ways for you to access funds up to your approved credit limit.

Draw Cash Online – You can draw cash from your business line of credit directly to your business bank account via your online account portal. Once logged in you can select how much funds you want deposited into your account up to your credit available.

The benefit of this function is no cash advance APR. With standard business credit cards, you are limited to how much cash you can advance. Also, if you do there is a cash advance APR that is triggered on the amount advanced which is typically above 20%.

Business Credit Card – A World Business MasterCard® is issued to your company which can be used for purchases up to your credit limit.

Now, once you use your credit line there are several options to repay your outstanding balance. You can either pay the minimum monthly payment, pay more than the minimum monthly payment or pay the balance in full.

The annual interest rate ranges from 9.9% – 19.99%. The rate issued to your company will depend on how strong your personal Experian FICO® score is since this is based on your score alone.
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