Business Credit Building

We specialize in business credit building for small to large business owners. Our services help business owners get the financial assistance they may need to help grow their business and brand. Our program focus on separating personal and business credit, establishing business trade lines for Paydex and Intelliscore Plus reporting, DUNS numbers and business loans. This allows business owners to receive credit and loans solely in their business name and not through their personal credit scores or finances.  Call today for the opportunity to grow your company.

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Form Your Business

One of the first things you need to do in order to build your business credit is to actually start the business. In order to receive a business loan or investment, you would need to separate your business finances from your personal finances. That means setting up a legal business entity such as a corporation (C Corporation or S Corporation) or LLC. You should determine what type of business is right for you. Your CPA or tax advisor can advise you on the best legal structure for your particular situation.

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Apply for a EIN or tax ID Number

You can apply for a EIN or tax ID number with the IRS. This can be done online thru their site and in most cases may be free. A EIN for a business is just like a social security number for a person. Every business is assigned and must have a tax ID number (also called the EIN). The tax id number or EIN is a nine-digit number assigned by the IRS to business entities operating in the United States. The tax ID number is used to open most business bank accounts and business loans and it’s the cornerstone for building your business credit profile.

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Get your Dun & Bradstreet Number

Dun & Bradstreet also known as D&B is one of the major business credit bureaus. They maintain their own business repository and provide their own business credit scores. D&B assigns your business a credit file number known as a D&B or DUNS number that rates your business credit profile. Your duns number is how lenders will determine your business creditworthiness. Most business lenders and credit card companies will ask for your D&B number during the application process.

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Keep Your Credit Good

Although the overall goal is to build business credit and to separate your personal from your business finances, you still need to maintain and establish good credit personally. Most new and small companies don’t start off building their business credit correctly. That normally requires lenders and most creditors to request the personal credit profile and sometimes assets of the business owner for approval. As a business owner most lending environments expect you to sign a personal guarantee on any kind of loan or credit for the business. This is not always the norm or mandatory but it has become common practice in today’s lending industry. So if you are a business owner or contribute to the business finances, you would want to have good personal credit as well.

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