Corporate Credit Building Checklist

Building Corporate Credit is a process, and if attempted without any professional guidance or assistance, could turn into a complicated journey. We have prepared a checklist of items that will prepare your business for the credit building process. This checklist has multiple starting points, one for those of you who are already incorporated, and another for businesses who have yet to formally organize. We offer another solution that can really speed things up and put you in a better position in the eyes of a lender, that is an aged shelf corporation - a legal business entity that has already been formed and you can purchase off the shelf. When it comes time to apply for credit, this opens doors to lenders with entity age requirements.

Each item is an important piece to the credit building process and it's here for a reason. All of these tasks will tighten up your business identity and presence so that when you put your business in front of a lender, you are squared away.

Business Legal Name Your business name is essential, it could be in use in a different state which could be confused with yours with credit score providers. If you're already incorporated, you have to check each aspect and ensure your name is clear to build credit with, if not, change it. If you haven't incorporated, do the same checks so that you can choose a business name that you can build corporate credit with.

What to Check Where to Check State Entity Name Availability Check Check your Secretary of State records for name availability. Obviously if the name isn't available with your state, you cannot incorporate under it. This is the first step. Your state's Secretary or Corporation Commission Office. KnowX Name Availability Perform a nationwide name search for other incorporated businesses using the same entity name. KnowX.com Dun and Bradstreet Perform a search with D&B, checking if any other business has a profile with the same name. Dun and Bradstreet Advanced Search Trademark Infringement Perform a trademark search in order to determine if your business name will conflict with any legally protected identifiers. TESS - Trademark Electronic Search System Domain Name You should have "www.yourbusinessname.com" registered and use domain based email. Register.com 411 Directory Assistance Check directory listings for businesses with a DBA or have listed themselves with your entity name Superpages.com

Not Incorporated? Talk to a business credit and incorporation consultant immediately by calling 1-800-COMPANY or 661-253-3303 and discuss your options. You can form a corporation or LLC in your state or purchase an off the shelf aged company in order to start building your corporate credit profile under a formally organized business structure.

Already Incorporated? If you have any name conflicts, you can perform the same name searching process and find an entity name that suits you and your business for the purpose of building business credit. Once you find your new business name, talk to a credit and incorporation consultant about amending your incorporation by calling 1-800-COMPANY or 661-253-3303 immediately.

Business Addresses Your business must have a physical location, a real address. PO Boxes and residences will be scrutinized by lenders. If you do not have an office or business location, don't worry... you can opt into a mail location, executive suite or an office program by calling 1-800-COMPANY or 661-253-3303 and speak to a business service specialist who can assist you with setting up a physical business location. When building corporate credit your address on all records MUST MATCH EXACTLY. If you have a suite number, make sure you always use the same identifier, rather than some records using "#100", "suite 100" or "ste 100", etc.

What to Check Where to Check Secretary of State Records Check your Secretary of State records for the address listed as your physical business address. Your state's Secretary or Corporation Commission Office Internal Revenue Service (IRS) Check your IRS and EIN documents for accuracy. You can change your address with the IRS by completing the 8822 form. IRS Website and Forms Library U.S. Post Office You can update your address with the USPO online. U.S. Postal Service Social Security Social Security records should be checked for accuracy. If you have to, you can change your address online. Social Security Office Directory and 411 Listings Any business listings should be updated with the physical address for your business that you plan to build corporate credit with. Various Directories and Listings

Credit Reporting Agency Records Corporate credit reporting agencies profiles should be created. Initially all you can do is get a free DUNS™ number from D&B. When you have credit from lenders who report to Experian and Equifax, your profiles will be created and grown through lenders reporting on your payment and credit activity.

What to Check Where to Check DUNS Number from Dun and Bradstreet You can request a DUNS number from Dun and Bradstreet for FREE. You will be courted to purchase a corporate credit profile builder service from D&B and they will tell you that a free DUNS number is a non-rated number that does not build corporate credit, however as soon as the first vendor reports activity, your profile is activated and will grow with D&B, you DO NOT have to purchase a credit service from DNB. Dun and Bradstreet Experian Credit Profile Check with Experian to see if there is any records under your name, you should have done this in the initial name selection steps above, however you may not see any results, which is fine, you shouldn't until you have corporate credit and lenders reporting to Experian - as soon as a lender reports, your profile will be created and start to grow through activity. Experian - SmartBusinessReports.com Equifax Credit Profile There isn't any reason to get an Equifax report until you know you have creditors reporting and have established a corporate credit profile. Having an empty Equifax business credit report doesn't do you any good. As soon as a lender reports, your profile will be created and start to grow through activity. Companies Incorporated - How to get an Equifax Credit Report