Liz Bay Credit Services

1. Liz Bay Consulting, LLC
147 Prince Street
Brooklyn NY, 11201
p. 347.772.0943
www.lizbayconsulting.com
lizbayinfo@gmail.com

2.  Business Credit is credit that is obtained in a Business Name
 With business credit the Business builds its own credit profile
and credit score
 With an established credit profile and score, the business will
then qualify for greater credit
 This credit is in the business name and based on the
business’s ability to pay, not the business owners
 Since the business qualifies for the credit, in some cases
there is no personal credit check required from the business
owner

3.  The business can use its credit to qualify for revolving store
credit cards like Staples, Lowes, Sam’s Club, Costco, BP, Wal-
Mart, even MasterCard, Visa, and AMEX
 The business can also qualify for credit lines and loans
 A credit profile can be built for a business that is completely
separate from the business owner’s personal credit profile
 This gives business owners DOUBLE the borrowing power as
they have both Personal and Business credit profiles built

4.  Business credit scores are based only on whether the
business pays its bills on time
 A business owner can obtain credit much faster using their
business credit profile versus their personal credit profile.
 When done correctly Business Credit can be built without a
personal credit check
 Some sources will approve business owners without the
owner taking on personal liability

6.  A business starts building a brand new credit
profile much the same as a consumer does.
◦ The business starts with no credit profile
◦ The business gets approved for new credit that
reports to the business credit reporting agencies
◦ The business uses the credit and pays the bill
timely
◦ A positive business credit profile is established
◦ As the business continues using the credit and pays
bills timely it will qualify for more credit

7. • The perception lenders, vendors, and creditors have of your
business is critical to your ability to build strong business credit.
• Before applying for business credit a business must insure it meets
or exceeds all lender credibility standards
• There are over 20 credibility points that are necessary for a business
to have a strong, credible foundation
• Business Name
• Corporate Entities
• Employment Identification Number
• Business Address
• 411
• Phone Number (land line)
• 1-800 Number
• Fax Number
• Email (No gmail, yahoo or hotmail)
• Website
• Bank Account
• Business Licensing
• Business Listing
• And More…

8.  Business Credit reports are offered by Experian, Dun &
Bradstreet, and Equifax
 You will first want to get a copy of your business credit
reports to see what is being reported

9. • A business credit report can be started
much the same as a consumer report
commonly is, with small credit cards
• The business can be approved for small
credit cards to help them build an initial
credit profile
• These types of initial cards in the business
world are commonly referred to as “vendor
credit”

10. • A vendor line of credit is when a company (vendor) extends a line of
credit to your business on "Net 15, 30, 60 or 90" day terms.
 You can get products and services for your business needs and defer
the payment on those for 30 days, thereby easing cash flow
 When your first Net 30 account reports your "tradeline" to Dun &
Bradstreet, the DUNS system will automatically activate your file if it
isn't already. This is also true for Experian and Equifax.
 You need to have a total of at least five (5) Net 30 day pay accounts
reporting.
 It typically takes 3 cycles of "Net" accounts reporting to build credit
scores
 REMEMBER - You must be patient and allow time for the vendors'
reporting cycles to get into the reporting systems

11. Radio Shack
 Reports to D&B and Experian
 They will pull a business credit
report to see how your business
had paid bills in the past
 If there isn't enough data on the
business credit report, they will ask
for bank and trade references
 You must be in business at least 2
years
 D&B number required and credit
references
 Payment Terms: Net 30
 Call 1-800-442-7221 to get an
application. Fill it out and fax back
it back to 817-415-3909
Laughlin Associates
 Laughlin Associates will approve
any business that is listed in 411
and has a business bank account
and EIN number
 They will report all payments to
Experian
 It takes up to 30-60 days for you
tradeline to show up on your
credit report from the date of
purchase
 Low monthly payment reports as
Net 30

12. • After you have established 5 tradelines you will
be able to start getting approved for revolving
business credit accounts
• A revolving credit account is one that allows you
to pay a "minimum due" per month and not the
full outstanding balance
• These accounts normally report to Experian, D&B
and sometimes Equifax
• Because of how they report, these accounts will
help build your business credit on a larger scale
than just the Net 30 day vendors alone

13.  Most Merchants and major retailers do offer
business credit, they just don’t advertise it
 There is no benefit to the merchant to
promote credit with no personal liability if the
business owner is willing to take on that
liability
 So they don’t promote their business credit
cards and regularly ask for a SSN

14. • Reports To: D&B and
Experian
• Staples will verify 411
directory while your on hold
• EIN Required
• They will check that your
business credit files are open
with D&B and Experian.
• They also check to see if your
business name and address
matches your 411 listing
• Payment Terms: Revolving
• Reports To: D&B
• Dell regularly approves for
$10k with Paydex of 75 or
above with D&B
• You shouldn’t apply unless
you have been in business at
least 6 months
• They will sometimes check
personal credit Payment
Terms: Revolving

15.  For a strong credit profile insure you have 10
accounts reporting
 Insure you get approved for at least one
account with a $10,000 high limit
 With 10 reported accounts and a 10k high
limit account you can continue building your
business credit

17. Liz Bay Consulting , LLC
147 Prince Street
Brooklyn NY, 11201
Email: lizbayinfo@gmail.com
Phone: 347.772.0943