In addition to personal credit, creditors and suppliers are increasingly using
business credit reports to make lending and credit decisions. That's
why it's important to establish a separate credit report for your business.
If your business is new, or if you haven't yet established business credit, obtaining
tradelines is a great way to begin building your business credit report.
How to ensure creditors and suppliers can validate your business information:
Incorporate or form an LLC (Limited Liability Company) to ensure your company
is seen as a separate business entity
Obtain a federal Employer Identification Number
Open business bank accounts in your legal business name
Set up a dedicated business phone line in your business name and make sure it's
Establishing Business Credit
Once you've completed the steps above, you can request business credit in your
company name. Your business trades then are reported to Experian, creating a robust
business credit report that gives lenders and suppliers quality information about
your company and boosts your ability to obtain loans, increase credit lines and earn
more favorable credit terms.
Review your Experian business credit report today to see what lenders and suppliers