In this tutorial we offer six steps to establishing a business credit report and score. http://www.experian.com/b2b

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Six Steps to Establishing a
Business Credit Report and
Score

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Experian Public.
1. Form a corporation or LLC to operate your
business under and obtain an FIN or EIN from the
IRS.
 Apply for EIN at the IRS
Website
 Forming Corporation or LLC has
benefits
► Liability protection
► Build a separate Business
Credit Profile
► Apply for credit under
business name
 As a sole proprietor or
partnership, you are personally
liable for debts
 Personal assets are at risk

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2. Comply with the business credit market
requirements.
 Important for businesses to
meet all the requirements
 Ensures a higher likelihood of
approval
 Compliance issues raise red
flags
 Could be a simple thing such as
not having business license or a
phone line
 Most businesses will not grant
credit to another business that
has not taken the steps to set
company up with proper
licenses etc.

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Business
Plan
3. Prepare financial statements and a professional
business plan.
 These documents are often
required by many credit
grantors

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4. Find companies willing to grant credit to your
business without a personal credit check or
guarantee
 Be sure credit grantors report
their payment experiences to
credit bureaus, like Experian
 This helps to build your
business credit report and
financial foundation

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5. Manage your debt so you don't fall into trouble
making your payments, which will negatively affect
your business credit score.
 Monitor your report for changes
 Especially when you are
building a business credit profile
 Consider Experian business
credit reporting solutions

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6. Make monthly payments to credit grantors to
keep your business credit profile active.
 At some point, every business
needs some type of credit
 Start the steps necessary to
build business credit now
 Be proactive

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