This document summarizes a small business workshop on building business credit. It discusses that business credit is important for obtaining financing, lowering costs, and saving time. It provides information on business credit scores and factors like payment history, debt to income ratios, and utilization. The document recommends business owners establish their company as a legal entity, open a business bank account, get a DUNS number, build credit lines through business credit cards and vendor/supplier payments, and regularly check their business credit reports to build their profile over time. The overall goal is to educate small business owners on improving their access to financing and credit through establishing and strengthening their business credit.

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SMALL BUSINESS WORKSHOP

2. Tim Graczewski
Vice President, Strategy &
Business Development
Presented by

3. Business has credit scores too
32
715
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4. Why business credit
MATTERS
Get financing and credit
Lower costs
Save time.
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5. Where do credit scores come from
Personal & Business
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The National Credit Bureaus
COMMERCIAL BUREAU
SCORE PROVIDER

6. 0"#"49
50"#"79
80"#"100
Low
Medium
High
Many different scores. (Too many?)
300 - 850
Personal Credit
0 - 100
Business Credit
0 - 300
350 - 850
VantageScore
Intelliscore
SBSS
Paydex

7. Register your business
as a legal entity
R
Public records Info is sent by lenders
and business creditors
Reporting lines - How bureaus populate business reports
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8. Business Credit Score
Utilization
Business Data
Payment History
Length of History
What Are Your
Credit Factors?
Debt to Income
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9. Do you
have a
thin file?
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10. Major differences between
personal and business credit
Difference in scores
1
No FCRA protection for
business credit2
3 Business reports are more
likely to have errors
4 Payments

11. Why you should care about your
business credit

12. Business Credit
Government &
Enterprise Contracts
Business Financing
Trade Credit
(Suppliers & Vendors)
Insurance Rates
How is Business Credit Used
Potential Business
Partners
Business Credit
Cards
Customer Trust
Equipment
Leasing
Commercial
Real Estate
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13. Insufficient financing:
2nd most common
reason for business
failure
- SBA
Most small business
owners rely solely on
personal funds and
credit for financing
Business credit and
getting financing
72%
GET DENIED!
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14. Business credit and
getting financing

15. Business credit and
getting financing
A business can access
10 to 100 times
more credit
than a consumer
A business will use credit at 10
times the rate of a consumer
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16. Protect yourself!

17. How to build your credit profile
Get Set Up Correctly:
Get your current business and
personal scores (2 min)
Incorporate your company (2 days)
Establish EIN (1 hour)
Open a business bank account
Establish credit lines for your business
• Open business credit card
• Get your key vendors/suppliers reporting
Get a DUNS number (optional)6
3
1
2
4
5

18. Separate business from personal
Business bank account - ensure contact
details match business reports
1
Charge business expenses to your business
•Company credit cards
•Use accounting software
2
Business insurance3
Build business credit4 @Creditera
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How to build your credit profile

19. How to build your
credit profile
No thin files!2
Pay early if you
can. Never be
late
4Check regularly1
• Dispute if necessary
Make sure credit
and trade lines
are reported
3
• Get at least 4
Plan your future5
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Why we created

21. www.creditera.com
QUESTIONS?
We are here to help
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