Build Business Credit
Did you know that your business can have a credit score of its own that isn’t dependent on your personal credit? Business credit is something you must build independent of your personal credit score and will allow you to acquire financing easier and will prevent you from being personally liable if your business fails.
Business credit scores range from 0 – 100 and are tracked by business credit agencies like Dunn & Bradstreet. When setting up your business, you need to acquire a FEIN for your business from the IRS. This number is equivalent to your business’s social security number and the business credit bureaus track your businesses credit worthiness just like personal credit bureaus track your personal credit history.
The caveat is that every creditor your business has reports to the credit bureaus only if you don’t pay an obligation. This doesn’t help you build business credit. We have a done-for-you system that helps you build business credit using the existing accounts you already pay on time, as well as establishing more credit so that you can easily get business financing options that meet your business needs without using personal credit.
Our Business Credit Building Process
Step 1: Discovery. Our team hosts an in-depth conversation to gather all the information we need to plan out your business credit journey, including short-, medium-, and long-term financing and credit goals.
Step 2: Analysis and Planning. After the discovery call, we move into the analysis and planning phase of the program where we make business credit recommendations that will improve your business credit score and we contact these lenders directly to ensure they are reporting all on-time payments to the business credit bureaus.
Step 3: Implement & Grow. After implementation, we move into the monitoring phase and provide monitoring for a full 12 months of the program. After this time, we will guarantee that your business will have a robust credit profile (as long as you continue to pay invoices on time) that will allow you to apply for funding under your business and protect your personal credit.
Analysis charts and statistics
Do you have Business Credit?
Powerhouse companies don’t use their personal credit to finance their business. These big companies have no personal liability on the line. Why should you? You know how important your personal credit score is to achieving your personal goals, why would you cripple yourself and your business by relying solely on your personal credit to build a business? Contact us today to talk about how we can help improve your business financing options.