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GreenThumb777's avatar
GreenThumb777
Contributor 3
2 months ago

How to build business credit?

Peace to all,
I'm new to becoming an entrepreneur with not so good credit. Does anyone have any tips on how to build your business credit?

Thanks in advance,
Great energy your way

3 Replies

  • judithvirag's avatar
    judithvirag
    Contributor 5
    2 months ago

    In the begining your business credit will be closely tied to your personal credit. Here are some steps to build your business credit:

    1. Register your business and get a business number
    2. Get a business phone number and address
    3. Register your business with credit bureaus - Get a DUNS number
    4. Get couple vendors who will work with you an report back to the credit bureaus
    5. Get a company credit card - always pay and do not use it for more than 70% its capacity
    6. Keep your business finances separate

    Hope this helps. 

  • inamkhan3435's avatar
    inamkhan3435
    Contributor 2
    26 days ago

    To build business credit, register your business and get an EIN. Open a business bank account and apply for a D-U-N-S number. Work with vendors who report to credit bureaus and get a business credit card. Pay bills on time or early and keep credit usage low. Monitor reports from D&B, Experian, and Equifax regularly. A strong business credit profile helps secure better financing, vendor terms, and credibility. Start early and stay consistent to grow your credit fast.