How's Your Company's Credit?

Begin by setting up your business as a legal entity, such as an LLC or corporation, and obtaining a business bank account. Apply for credit accounts with vendors that report to business credit bureaus, and manage these accounts by paying bills on time and maintaining low credit balances.

The primary business credit bureaus are Dun & Bradstreet, Experian Business, and Equifax Business. They track and report on your business’s creditworthiness and provide credit scores used by lenders and suppliers.

To check your business credit report, you need to request it from the major credit bureaus. Dun & Bradstreet, Experian Business, and Equifax Business offer online portals where you can view your credit report, often requiring registration or a fee.

Your payment history, credit utilization, length of credit history, and recent credit inquiries influence your business credit score. Each of these elements reflects your business’s credit management practices.

Yes, you can still obtain business credit even if your credit is weak. Business credit is assessed independently from personal credit, so building a solid business credit profile can help you secure credit despite personal credit issues.

Improve your business credit score, make timely payments, keep credit balances low, review your credit reports regularly for accuracy, and strategically apply for new credit accounts to build a positive credit history.

You can access various types of business credit, including vendor credit, business credit cards, equipment financing, vehicle leases, and commercial loans. Each type offers different benefits and financing options for your business needs.