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How to Get Business Credit

The SOHO Business Credit blog says its easier to get business credit than you might think. They explain it all in this step by step guide:

  1. Decide on the business address
  2. List the phone number with directory services
  3. Secure Duns and Bradstreet Number
  4. Establish Business Credit Net 30 Accounts
  5. Apply for Business Credit Cards

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Comments

  • Would you find it more or less difficult in obtaining a business credit card if your business doesn’t have a dunn and bradstreet #? This question I have been asked before and your steps have it at 3 so it has a significant degree of importance otherwise, you wouldn’t have wrote it there.
    Any feedback would help.
    Thanks
    Brian

  • Brian — It seems to me that getting a D&B number is very important if you want a business credit card.

  • Business Credit

    A reader asked:
    How do you get business credit without personally guaranteeing it?

  • This new blogs is about only business credit. check it out http://www.bizcreditzone.com

  • These are all right. Just make sure that you don’t ruin that credit too or you are ruined.

  • when you start out, always will need to give personal guarantee, until business develops a credit history take a long time … would recommend this book I just got from businesscreditblackbook.com, seems pretty up-front and no promises of miracles


  • [URL=][/URL]

  • A lot of times business owners underestimate the true weight of strong business credit. Strong implies undeniably sturdy. Well-built, demonstrating strength, are both synonyms for strong business credit. Do not forget that lenders look for only the top performing companies to lend to – why would they take the unnecessary risk? If your companies business credit in not top notch then it is probably lacking strong business credit. With that said, do not think that your business must be the biggest on the block. On the contrary, small and well articulated businesses sometimes have a better chance at financing compared to the Goliath down the street.
    Strong Business Credit is measured through the business credit score reported at D&B (through the use of a Paydex Score) and, more importantly, it is measured by the business credit profile of the business.

    Sincerely,

    Ilya Bodner
    Initial Underwriting Group

  • You have a a good post and some very helpful comments here about obtaining business credit- but having said that, there is so much information out there on business credit, no one should allow D&B to get away with ripping people off $500 for creditbuilder, when you can do it for free…

  • Sam:

    one #1 that is not true, you do not need to PG ANYTHING from day #1;

    and

    #2, from your link it seems you own business credit book, so why are you sounding like you dont?

    a good plug, when not done surreptitiously, can work wonders…

    like http://www.businesscreditguru.com , which is Mine :)

    Paydex

  • I went about obtaining business credit in a different manner. I’m not promoting this gentleman’s product(s) but Tom Kish has allowed me to obtain over $100K for my real estate investing business.
    Just do a search on his name and business credit and you’ll soon find out how to get quick access (quicker than the D&B way) to business credit cards and lines of credit.

  • Business credit, true business credit is built completely differently than your personal credit and is NOT linked to your social security number in anyway. It is for example built on double digits instead of triple digits- that is a score of 75 is equal about to a consumer credit score of 750. There are also NO consumer protections. So get some help in setting up your account because if you do it wrong they can “red flag” you just because they think you don’t know what you are doing, business wise. Feel free to contact me for more info. Paul

  • Paul:

    The reason why there are no protections is because regulation Z and the FCRA and FDCPA don’t apply to businesses the way they do to individuals.

    but the upsides (not on personal credit, high limits, not your personally guaranteed debt unless you agree to a PG) makes it mandatory for any business owner.

  • Ok. I’ve searched everywhere for this answer and cannot find it. I have had a business loan, business credit cards, and currently a computer loan under my business name, but why can’t other lenders see it and how can I get them listed? They use my personal credit to approve, but I dont get the credit for paying them off???

  • I am trying to establish my business credit without using a personal guaranty. Can someone shed some light on businesses that report to Duns and Bradstreet or other business credit organizations? Here are some companies that report to D&B and are set-up as net 30 accounts:

    Staples, Quill, Grainger, U-line & Franklin Covey. Any info will be greatly appreciated. Thanks.

  • Kevansdc:

    You got these loans under the business name?

    with which company?

    you can call them and ask them if and can they please report to D&B for you…

    is your company D&B Listed? if not, go get a duns number… and buy from major suppliers like NEBS and Dell, instead of local shops, if you want to be reported to D&B.

    Ted

  • Digna:

    What do you want to know about Staples, Quill, Grainger, U-line & Franklin Covey?

    These companies do report to D&B, and possibly Experian as well.

    Ted

  • The Game is changing faster then I can google for last weeks changes LOL

  • I wanted to let you know that our company could be of help to your readers. We are a web design company that reports to Experian and if you have D&B Credit builder, you can use us as a trade reference. Our website is http://www.bitwavedesign.com. Your custom website will be completed and we charge $59 per month and we start out reporting $2500 account to Experian. The credit limit increases the longer we work with you.

  • that would not be a good idea. having fake accounts with phony limits just to impress D&B DOES NOT WORK long term and will hurt your credit score.

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