- Business credit bureaus, Corporate Experian, Corporate Equifax and D&B, require a compliance review before establishing a credit account in a business name. To meet the standards for a compliance review a business should have: a local business license, a dedicated phone number listed in the phone company databases, a business address and email.
- As you become established, accessing available credit options will help you build credit in the business name using your personal credit score. Lending options available to new businesses might include: Accounts Receivable Funding, Equipment Sales or Lease Financing, Merchant Card Advances, SBA lending options or Unsecured Business Financing. Harbortouch America can help you with Merchant Card Advances when you’re ready.
- Once you’ve established a business credit profile and start building a credit history, your access to credit and lending will expand and not be limited by your personal credit limits.
- Look at secured credit cards and other easier to acquire lending opportunities in your business name to expand and improve your credit rating for your business. Establishing business credit takes time and planning, but is worth the effort.
Mar 30, 2015