Companies Incorporated offers multiple programs to build corporate credit. We can provide you the means to separate your personal credit from your business. Through our unique process, we compresses the normal 4-6 years to establish business credit down to only 60 to 90 days, creating a new credit profile based on your Tax ID number.
To Establish your D&B Business Credit File Click Here:
Already have your D-U-N-S Number? The Next Step is to Start Building your Business Credit:
These Business Credit Services are Provided by our partner:
Dun & Bradstreet Credibility Corp.
You can have your profile created for you and be provided tools and resources to quickly establish business credit - or have us do all the work for you. We offer a program that is 95% hands-off, letting the corporate credit experts do the work. See All Corporate Credit Programs
Get corporate credit - Separating your personal business credit can offer the following benefits:
- Better Payment Terms (Net 30 or Net 60)
- Business credit cards
- Government Contracts
- Automobile leases without a personal guarantee or personal credit check
- Business start-up and growth capital
- Low cost, high return
Once you Establish Corporate Credit it is possible to obtain:
- Real estate
- Auto leases
- Credit cards
- Lines of credit & Better Payment Terms (Net 30 or Net 60)
- Equipment leases
- Low Interest Rates
When to Establish Business Credit
Plain and simple, you want to build business credit before your company needs it! No institution wants to lend to, partner with, or trust a company that cannot prove its financial stability. As a business owner you should start thinking about building credit history as soon as you incorporate. You can do this by obtaining your D&B DUNS Number. This process is possible, simply with a Corporation or Limited Liability Company (LLC), and using your tax identification number (EIN).
When officers and owners use their own personal credit profiles to obtain credit or obtain credit cards for the business, they risk the chance of personal liability, and weakening the corporate veil by co-mingling financial transactions. There are two reasons business owners should try not to use a personal guarantee in this situation.
- The individual signer is liable if the business cannot make the payments
- The credit obtained for the business can result in seizure of personal assets.
Keep in mind, business credit ratings are compiled much in the same way as your personal credit scores. They are created using several factors, including: available credit, the amount of available credit used, payment history, cash flow history, and many other financial indicators.
Obtaining lines of credit for a business is a process that is established over time. The older the business, the more options it will have to build credit and obtain loans without the use of personal guarantees. Age allows many businesses to demonstrate their credibility and financial stability, but this should not deter younger businesses from attempting to apply for credit lines. The best way a young business can demonstrate their trustworthiness is by strengthening their D&B credit report.
Build Corporate Credit
Companies Incorporated has developed a program to provide your business with tools to help you separate your business and personal finances. Just by creating a new credit profile based on your Tax ID Number.
It all starts with our Credit Builder Program, which will establish a brand new credit profile and score. The goal is to establish corporate credit scores of 75 or better. In comparison a score of 80 is like having a personal credit score of 800: That is excellent credit. We have collected and made available, the credit score systems for the primary reporting agencies.
A credit score is built by having lines of credit, credit cards, accounts and trade references that report to the business credit bureaus. For most businesses it's very difficult to find a creditor willing to grant most forms of corporate credit with no personal guarantees without any previous business credit history. If you have your own trade references, we will work with them to build the score. However most businesses need additional trade references who report to credit agencies that will open lines of credit and begin reporting to the major agencies. Though the process usually takes the time outlined above, occasionally four to six months is required for the vendors properly verify to the reporting agency.
We offer guidance on how to select companies who will provide your business with immediate credit. Part of the program is assisting you with the entire application and reporting process as well as choosing businesses that will grant credit to your company. The companies we work with will report payment experiences to the credit bureaus - and provide loans without a personal guarantee or the need for personal credit checks.
CCompanies are willing to issue the credit because their clients are not considered high risk. The reason they are not considered high risk is because of the business owners desire to build their business' credit by investing in a corporate credit building program.
We are a member of Dun & Bradstreet Credibility Corp.