Build Strong Business Credit Scores The Fastest Possible Way Your business needs its own credit scores that are separate from you personally. Let’s look at how you get that done.Version 4BusinessFinanceCoach.com Nov 09
The Reasons to Build Business CreditWells Fargo Bank - Separating Personal and Business Finances "The longer you delay establishing business credit, the longer you delay taking advantage of business loans." Your business needs to stand on its own for financing and it will not be able to do that until it has strong business credit scores with: Your Business Must Have 3 Separate Business Credit Reports with: ExperianEquifaxDun and Bradstreet
B U I L D I N G B U S I N E S S C R E D I T 1 6 Steps To Building Business CreditIn this book we will be showing you the 6 Steps to building business credit. Steps 1 and 2 are foundational and critical to complete so that your business is ready to build strong business credit scores. Without completing Steps 1 and 2 it is impossible to build business credit scores that are separate from you personally. Steps 3, 4, 5 & 6 are where you actually build business credit. Step 3 is setting up with all business credit agencies; EquiFax, Experian and Dun & Bradstreet. Step 4 is obtaining five vendor lines of credit that report to the agencies Step 5 is obtaining three business credit cards that report to the agencies. Step 6 is obtaining your first business bank loan that reports to the business credit agencies. Below is summary of each Step and what you must do to successfully build business credit. Step 1 - Setting The Foundation For Building Business Credit 1.1 - Making Sure Your Business Is Ready To Build Business Credit. 1.2 - Your business entity structure, what it takes to build business credit. 1.3 - You will be building strong business credit and you should protect it. 1.4 - Why your business location is vital to building business credit. 1.5 - Your business must be in 411 directory assistance to get approved. 1.6 - Your business credit identity (EIN), the tracking and how you get one. 1.7 - Why you must verify that all agencies listings are "exactly" the same. Step 2 - Optimizing Your Banking, Assets and Revenue To Maximize Fundability 2.1 - Your bank accounts, a vital business credit building component. 2.2 - Identifying the business assets and availability for credit use. 2.3 - The business owners can play a key role in building business credit. 2.4 - The one credit card that every business can get that opens all 3 national files. 2.5 - Bank Visa and MasterCards that can be used as cash and that build credit. Steps 6
2 Step 3 - Getting Set Up With All Three Business Credit Reporting Agencies 3.1 - Dun & Bradstreet Business Credit Report. 3.2 - Experian Business Profile Report. 3.3 - Equifax Small Business Credit Report.