Did you know?
There is a way to build your business credit without using your personal social security number in most cases?
What is business credit? Business credit is credit that is obtained in a Business Name. The business builds its own credit profile and credit score for it's EIN number. This credit is in the business name and based on the business’s ability to pay, not the business owners. |
Fun fact 95% percent of trade lenders do NOT report to the business credit bureaus. Business credit scores are only based on one factor while personal credit scores are based on five. Building business credit that's not linked to your social is extremely difficult when you do not know where to start. |
Endless possibilities With an established credit profile and score, the business will then qualify for credit. The business will eventually qualify for revolving store credit cards like Staples, Lowes, Sam’s Club, Costco, BP, and Walmart. Also major cards such as MasterCard, Visa, AMEX, and even get approved for auto financing! |
You’ll need to find starter vendors who DO report and who will approve you even with no established credit now.
5 of these accounts must be reporting before you can get revolving store credit. Starter vendors are ones who will give you initial credit even if you have no credit, no score, or no trade lines now.
5 of these accounts must be reporting before you can get revolving store credit. Starter vendors are ones who will give you initial credit even if you have no credit, no score, or no trade lines now.
