Business Credit Bureaus

• The major business credit bureaus that compile and provide copies of the reports are: Dun & Bradstreet, Experian Business, Equifax Business and Business Credit USA. Business credit information is sent in voluntarily to these credit bureaus; no business is required to send it in. Register your business with the business credit bureaus to get started raising your business credit score.
  
  

Significance

• The Small Business Administration ranks lack of capital as one of the top reasons businesses fail. Business credit is essential to any business owner seeking significant capital for his business. When your business credit is established, banks and other funding sources can bypass looking at your personal credit to determine your credit history.
  
  

Time Frame

• Time and effort are needed to build a solid business credit. Trade references, business savings account, and responsible activity on a business credit card are all long-term methods of building your business credit.
  
  

Features

• Having a high business credit score can also open doors to lines of credit with businesses. Vendors may allow you to pay within 30 days rather than at the time of sale if they see you have a solid financial history and good business credit score.
  
  

Warning

• "If you are the owner of an emerging business, until your company develops a robust credit profile of its own, your consumer credit profile also may be reviewed by prospective creditors," reports Dun and Bradstreet. Meanwhile, manage your personal finances responsibly. They can impact your company's creditworthiness.