Business Credit

Building Business Credit for Small Business

You are here: Home / Archives for building business credit

5 Strategies to Build Business Credit Easily and Quickly

By

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. building business credit

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.
Click to continue …

Top 5 Net 30 Vendors for Building Business Credit

By

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. net 30 vendors for building business credit

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?
Click to continue …

How to Build Business Credit When Paying Your Business Expenses

By

How to Build Business Credit

In today’s post we’re going to talk about a key fundamental step for building business credit for your company.

While acquiring credit from vendors, suppliers and other businesses that report to the business credit agencies is a widely known practice for establishing business credit; why not also have your business expenses build business credit too? How to Build Business Credit

The fact is, if you have a business, you will have business expenses. These are costs you have in the ordinary course of running your business day-to-day. For example, putting gas in your car to go to a business appointment, taking a client out to lunch, paying utility bills, paying for postage to ship a product, etc.

When you pay for these expenses, it’s crucial to keep your personal finances separate from your business finances. You don’t want to commingle these expenses because it will cause a real challenge during tax time.

In addition, you should establish a budget, keep good records and implement an effective business credit building strategy.
Click to continue …

How Business Credit Card Funding Benefits You

By

Business Credit Card Funding

In today’s post we’re going to cover everything you need to know about business credit card funding. This funding program is by far one of the easiest and fastest ways to obtain cash credit for a startup or existing business. business credit card funding

That’s quite a bold statement but we’re going to back up that claim in this post. Where else can you get up to $150k in unsecured credit for a business with no documentation, no personal credit reporting, plus build your business credit reports.

If you’re new to this type of funding let’s first cover what business credit card funding is. Business credit card funding is a service that acquires business credit cards under the name of the business, using the personal guarantee of the applicant.

The business credit cards obtained under our funding program only report to the business credit reporting agencies. This enables you to get access to working capital, establish a credit file for the business while protecting your personal credit at the same time.

So, let’s start with the first question most people ask.

Who is Business Credit Card Funding For?

If you answer ‘yes’ to any of the following, business credit card funding may be for you.

  • Do you want to separate your business and personal expenses?
  • Do you want access to working capital at any time, to use anywhere and for any business purpose?
  • Do you want to protect your personal credit?
  • Do you want to build your business credit?
  • Do you want access to revolving sources of cash & credit?

At the end of the day, whether you’re a startup or existing business, this funding is a fast, easy and truly hassle-free way to get access to business lines of credit.
Click to continue …

Top 10 Business Credit Building Updates and News

By

Business Credit Building Updates

In today’s post we’re covering the top ten business credit building updates and news that you should know. It’s amazing to see how fast the business credit industry is growing and changing to meet the needs of small business owners like yourself. business credit building

We have compiled a list of some of the most important updates to keep you informed so you can best determine what business credit building strategy is ideal for you.

Remember, when it comes to building business credit and getting funding for your startup or existing business; staying informed with up to date information is essential to your success.

Without further ado, here are our top ten business credit updates:

1 ) Equifax Acquires Paynet – Although Equifax is widely known as a consumer credit reporting agency, did you know they are a business credit reporting agency as well? In fact, they provide business credit evaluations for over 22,000,000 small businesses and corporations.

Their acquisition of Paynet aims to strengthen Equifax’s Business Credit Reporting arm and expand access to capital for small businesses. PayNet is a business credit reporting agency that maintains the largest proprietary database of small business loans, leases and lines of credit with over 24 million contracts worth over $1.6 Trillion.

The addition to PayNet’s commercial leasing payments data, along with Equifax’s business data, can boost growth in small business commercial space for Equifax.
Click to continue …

CATEGORIES

RECENT POSTS

CONNECT WITH US