Credit Secrets for Entrepreneurs

Use business and personal credit to launch your business. Learn how business credit reports work, how to boost your credit score, and how to gain access to funding.

Introduction

• Excel by using credit to your advantage
• Build business credit

1. Why Business Credit Is Important

• Credit reports
• Credit for financing
• Separating business and personal credit

2. Business Credit Reports

• Credit bureaus
• Data can be used to evaluate your business
• Overview of business and personal credit differences
• No creditors are named
• No credit limits reported and payment history differs
• Free credit reports are not required
• Good credit score
• FICO SBSS score
• Business credit scores differ
• Monitor your business credit score

3. Building Business Credit

• Create a business entity
• Industry classification
• Separate business and personal finances and request a DUNS number
• Establish references that report
• Consider a business credit card and pay on time
• Excel by building the strongest credit you can
• Monitor your credit

4. Credit Challenges

• Lack of data
• Bankruptcy, tax liens, or judgments
• Negative info report

5. How to Get Business Credit to Work for You

• Leveraging other people's money to excel and grow your business