Insiders secret to building business credit? Well, there aren’t any. There are just the facts of how it is done. Building business credit is exactly the same as building personal credit. To obtain the best possible scores in the personal credit world you need a 1-2-3. That is 1 mortgage (home), 2 installment accounts (car, boat, TV, etc) and 3 revolving accounts (credit cards). If you have those and you pay them all on time your personal credit scores will soar.
The biggest insider secret to building business credit is a 1-3-5. Where "1" is a bank loan, "3" is revolving business credit cards and "5" is vendor/supplier lines of credit. The "must have" insider secret to building business credit is that all these accounts must not be connected to your personal credit and they all must report your payment history to the business credit agencies.
The last insiders secret to building business credit is that you must completely separate your business credit from your personal credit. Unfortunately most business owners are either unaware that business credit is just as important as personal credit or they never invest the time to do it.
Most entrepreneurs start their businesses by first getting onto a large amount of personal debt to finance their business. Then in a few months they find that the business must have more financing to continue or to expand. Only then do they finally look for real business financing.
Unfortunately, with their personal credit cards to the limit, the business owners have now put themselves in a position of desperation in seeking business capital but they have not built any business credit upon which to successfully get approved for business financing.