Business Credit Building - Business Credit 2020

Business credit building sources, tools and strategies are constantly changing as the business credit industry continues to innovate and expand. In this video we cover the top ten business credit updates and news for startups, small business owners and real estate investors.

Whether you’re starting or expanding a business, staying informed on the latest business credit strategies and news is essential. You will know what funding options are available and how to build business credit the right way.

For our Step-by-Step Business Credit Building system go to https://businesscreditbuilders.org/

For our Business Credit Card Funding program go to https://businesscreditbuilders.org/business-lines-of-credit/

As you know, business credit enables a business owner to establish a creditworthy business separate from his or her own personal credit file. With a separate legal entity such as a corporation or limited liability company, you can create a credit identity also known as a business credit profile with the business credit agencies.

The three main business credit reporting agencies are Dun and Bradstreet, Experian Commercial and Equifax Small Business. Each business credit agency has its own unique business credit scoring models with no uniform scoring system being adopted by lenders.

For example, Dun & Bradstreet is widely known for its Paydex® score while Equifax Small Business uses the Credit Risk Score™.

The types of data being used by alternative lenders makes the process of obtaining credit and funding for a business much faster and easier than ever before. Business data such as social media, web data, transaction platforms and business checking are being used during a credit review.

However, with speed and conveniences it does come at a cost compared to dealing with traditional banks. Traditional banks have always been the go-to source for business credit but now more than ever; alternative lenders, suppliers, vendors, major retailers, etc. are filling the gap that traditional lenders can’t.

It’s important to realize that business credit building is a process. With the right strategy you can build a strong business credit profile in a short period of time. Not only can you establish business credit easily with traditional credit sources such as business credit cards, vendors and suppliers; now you can add other alternative credit data such as your business phone and utility accounts too.

To add utilities to your business credit report you simply link your business phone, internet and utility accounts and the reporting provider we recommend will do the rest.

What’s even more exciting is that they can securely download up to 24 months of payment history directly from your service provider’s website. This means you can add all that credit history to your business credit reports.

For more details on business credit building strategies and programs check out the following sites.

https://youtu.be/4mwRZ1-tRbs
https://businesscreditbuilders.org/
http://businessfundingreview.com/
http://businesscreditbuilderservices.com
http://creditreportengine.com