Credit Secrets for Entrepreneurs

Introduction

• Excel by using credit to your advantage
• Build business credit

1. Why Business Credit Is Important

• Credit reports
• Credit for financing
• Separating business and personal credit

2. Business Credit Reports

• Credit bureaus
• Data can be used to evaluate your business
• Overview of business and personal credit differences
• No creditors are named
• No credit limits reported and payment history differs
• Free credit reports are not required
• Good credit score
• FICO SBSS score
• Business credit scores differ
• Monitor your business credit score

3. Building Business Credit

• Create a business entity
• Industry classification
• Separate business and personal finances and request a DUNS number
• Establish references that report
• Consider a business credit card and pay on time
• Excel by building the strongest credit you can
• Monitor your credit

4. Credit Challenges

• Lack of data
• Bankruptcy, tax liens, or judgments
• Negative info report

5. How to Get Business Credit to Work for You

• Leveraging other people's money to excel and grow your business