How to Get Business Credit

August 24, 2005 by Dane | 14 Comments
In Financing, Operations, Planning

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:

Decide on the business address

List the phone number with directory services

Secure Duns and Bradstreet Number

Establish Business Credit Net 30 Accounts

Apply for Business Credit Cards

Comments

business credit cards dude on September 29th, 2005 at 8:19 pm

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
Dane on September 29th, 2005 at 8:25 pm

Brian — It seems to me that getting a D&B number is very important if you want a business credit card.
Ask Business Opportunities Weblog on January 3rd, 2006 at 8:55 pm

Business Credit

A reader asked:
How do you get business credit without personally guaranteeing it?
…
Kyle on June 8th, 2006 at 9:12 am

This new blogs is about only business credit. check it out http://www.bizcreditzone.com
Shai on November 4th, 2006 at 9:57 am

These are all right. Just make sure that you don’t ruin that credit too or you are ruined.
Sam on November 5th, 2007 at 6:18 pm

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
Arnie on November 23rd, 2007 at 10:14 am

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Ilya Bodner on December 9th, 2007 at 6:06 pm

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
Ted Aberle on December 29th, 2007 at 4:08 pm

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…
Paydex on January 9th, 2008 at 4:48 am

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
Paul Tomlinson on May 10th, 2008 at 7:09 pm

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.
paul on June 1st, 2008 at 4:25 am

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
Small Business Financing on June 2nd, 2008 at 3:06 am

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.
Kevansdc on June 26th, 2008 at 8:47 am

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???