1. Business Credit Decoded
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Business Credit Decoded

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3. Business Credit
With business credit the Business builds its own credit profile and credit score

4. Business Credit
The business can use its credit to qualify for credit cards and lines, even loans

5. Business Credit Benefits
A credit profile can be built for a business that is completely separate from the business owner’s personal credit profile giving the business owner DOUBLE the borrowing power

6. Business Credit Benefits
Business credit scores can be built fast as they are only based on timely payments

7. Business Credit Benefits
Approval limits are times higher on business accounts versus personal accounts

8. Business Credit Benefits
When done correctly Business Credit can be built regardless of personal credit quality as there is no credit check

9. Business Credit Benefits
Most business credit can be obtained without the owner taking on personal liability, or a personal guarantee

10. Business Credit Benefits
Having established business credit increases chances of approval, approval amounts, and rates and terms

11. Business Credit Benefits
Business Credit Saves Businesses

12. Business Credit Reporting Agencies
The three major companies that collect business information and publish it are Dun & Bradstreet, Experian, and Equifax Business

13. Dun & Bradstreet
D&B is the biggest and major business credit reporting agency
They are publically traded company (DNB) with a headquarters in Short Hills New Jersey

14. DUNS Number
The DUNS number is a nine-digit number issued by Dun & Bradstreet and assigned to each business location in the D&B database

15. DUNS Number
More than 50 global, industry, and trade associations recognize, recommend, or require DUNS and so do many foreign governments including the US and Australia, European Commission, and even the United Nations

16. Dun & Bradstreet’s Score
The main credit score used in the business world is known as a Paydex score, provided by Dun and Bradstreet

17. Paydex Score
The Paydex score ranges from 0-100, with 100 being the best score a business can obtain

18. Personal Credit Scoring
Personal credit scores take time to build as they are based on 5 factors
Payment History 35%
Utilization 30%
Length of Credit History 15%
Accumulation of New Credit 10%
Credit Mix 10%

19. D&B Paydex Score
Business credit scores are based only on whether the business pays its bills on time
Expect payment may come early
Payments comes within early discount period 90
Payment is prompt
Payment comes 14 days beyond terms 70
Payment comes 21 days beyond terms 60
Payment comes 30 days beyond terms 50
Payment comes 60 days beyond terms 40
Payment comes 90 days beyond terms 30
Payment comes 120 days beyond terms 20
Unavailable UN

20. Business Credit Scores
A business credit score is a mathematical model that is used to depict a business’s risk of going 90 days late on an account within the next 12 months
A consumer credit score is a mathematical model that is used to depict a consumers risk of going 90 days late on an account within the next 24 months

21. Experian
Experian was formerly a division of TRW, an automotive electronics giant founded in 1901

22. Experian’s Intelliscore
Experian’s most recent score system is known as Intelliscore Plus
Offers a business score between 0-100, with 100 being the highest

23. Experian’s Intelliscore
The is a percentile score that reflects the percentage of businesses that score higher or lower than the specific business being looked at

24. Equifax Equifax was founded in 1898 by Cator and Guy Woolford
Cator actually got the idea from his grocery business, where he collected customers’ names and evidence of credit worthiness

25. Equifax’s Credit Risk Score
Equifax’s main business credit scoring model is the Credit Risk Score
Credit scores range from 1-100, with a lower score indicating a higher risk of serious delinquency

26. Business Credit Building
A business starts building a brand new credit profile much the same as a consumer does

27. Step 1 of Business Credit Building- Establish Credibility
Before applying for business credit a business must insure it meets or exceeds all lender credibility standards

28. Business Credibility 411 Legal business name including DBA
EIN registered
Business address
411
411

29. Business Credibility Phone and fax numbers Website and email address
Bank account
Licensing

30. Step 2- Obtain Business Credit Reports
Business Credit reports are offered by Experian, Dun & Bradstreet, and Equifax

31. Step 3- Obtain Vendor Accounts
Secure 5 vendor accounts without using your SSN, and wait 90 days

32. Step 4- Obtain Revolving Accounts
Secure 5 revolving business credit accounts starting with store cards

33. Grow Your Business Credit
It is essential to keep using the credit, keep applying for more, and talk with credit providers to raise credit limits

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