How to get business credit is a planned process and doesn’t just happen by mistake. If you have a 680 personal credit score or above, then you know that didn’t happen by accident. You planned it, you paid your bills on time and you didn’t over extend yourself. The same is true to getting great business credit scores.
Building business credit probably the main element in the success of your business being able to receive that financing it needs. Business owners who take the time to build excellent business credit get approved, those who don’t get declined. It is just that simple.
Companies that never get business credit end up operating with a cash only basis and have very limited potential for growth and missed opportunities. Most business owners make the huge mistake of using their personal credit to secure business credit lines or equipment leases or bank loans. For most, this results in destroyed personal credit scores and the inability to continue to grow the business, which leads to business failure.
How to get business credit is about establishing a business credit profile and score with all three business credit bureaus (Dun & Bradstreet, Experian Business, Equifax Business). It is about having three business credit cards without using your personal credit information and it is having five vendors/suppliers that report to the business credit bureaus