Your business credit can be as important as your personal credit. Creditors and
suppliers are increasingly using business
credit reports to make lending and credit decisions.
Establishing business credit may seem like a daunting process—especially
if your business is new. But it’s not.
There are several steps you can take to begin building business credit:
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
Once you've completed the steps above, you can request business credit in your
company name. Your business trades are then reported to Experian, creating a robust
business credit report that gives lenders and suppliers quality information about
your company. This improves your ability to obtain loans, increase credit lines, and
secure more favorable credit terms.
Wondering what's in your business credit file now? Check your Experian business
credit report today to find out.