Did You Know You Can Build Business Credit

joe chavarria credit score blueprint
Share on facebook
Share on twitter
Share on linkedin
Share on email

Did you know you can build business credit? Being able to borrow money for company requirements and costs such as new equipment, building improvements, and so on is vital to having a successful business for many entrepreneurs.

You can’t just go out and obtain a company loan without having good credit, just like you can’t get a personal loan without having good credit. While the procedure is slightly different, companies, like individuals, have credit scores. Like people, they require strong credit ratings to qualify for operational loans, low-interest rates on business credit cards, and so on.

diy credit repair templates

As a result, you must focus on establishing business credit as a business owner. Before beginning operations, you must begin the process of establishing credit for your company. To get started building credit right away, you’ll need to do the following:

  1. The Legal Identity of a Business

Separating your company credit from your personal credit is essential for your firm to establish a strong reputation on its own. To do so, your company must be organized as a distinct legal entity, which can be accomplished by incorporation or the formation of an LLC.

  1. TIN or Tax Identification Number

The next stage in establishing important credit for your company is to obtain a tax ID number. Your firm, like a person, will require an identifying number to establish credit; however, in the case of a business, this number is known as a FEIN or Federal Employer Identification Number. The Internal Revenue Service will provide it.

  1. Bank Account for a Company

You may separate company and personal finances by having a business bank account. Furthermore, while seeking business loans, a business bank account can be used as a reference.

  1. A D-U-N-S Number

A D-U-N-S number is a number that begins with the letters D and ends with the letters S. Businesses utilize the Dun & Bradstreet D-U-N-S Number to verify a company’s credit history. Companies and the federal government in the United States need their suppliers to have a DUNS Number. A D-U-N-S number is one of the most important steps in the process of getting your business registered with the government. By doing business with Dun and Bradstreet-reporting creditors and/or suppliers, you’ll begin to build your company’s credit profile.

Other Factors in Building Business Credit

Aside from these requirements, your business will require a separate phone line and compliance with all state and municipal legislation. You should also apply for a business credit card or line of credit, as this is how your company will first appear in the files of each credit reporting agency.

Following that, establishing strong company credit is similar to establishing good personal credit: paying bills on time, not declaring bankruptcy, not defaulting on loans, and so on.


Building a great and successful business might take a lot of effort, and it’s significantly more difficult when you don’t have excellent credit or any credit at all. You may start developing business credit by performing the actions suggested above. And by adhering to the norms of good credit building, which apply to both individuals and organizations, you can ensure that your company’s credit will continue to improve as it grows and expands.

diy credit repair templates


CrediScoreBlueprint.com does not guarantee your success or that you will have any particular credit score, result, or timeframe you could experience using our courses. We do not promise or guarantee your results. We do not offer any form of legal advice or counsel. Any financials discussed here are used strictly as examples and should not be taken as average or exact results nor promise of results. As with anything you purchase use caution and consult with your financial counsel before making any purchases. The results you acquire from these pieces of training are 100% dependant on you, your skill set, your financials, and your ability to execute these teachings. By registering on this site you agree to not attempt to hold CreditScoreBlueprint.com liable for your actions or results at any point in time. This site is not a part of the Facebook website or Facebook Inc. Additionally, This site is NOT endorsed by Facebook in any way. FACEBOOK is a trademark of FACEBOOK, Inc.

Get Started

Receive the latest news

Why aren't you subscribed to my newsletter?

Get my best credit tips, tricks, hacks, and more. It’s FREE!