How To Build Your Business Credit & Get A Big Loan Fast
First, let’s review some key facts that you should know about building business credit.
Net 30 Accounts:
- You can obtain products and services your business needs and defer the payment on those for 30 days, thereby conserving cash flow. This is called “Net 30”.
- When your first Net 30 account reports your “tradeline” to Dun and Bradstreet, the DUNS system will automatically activate your file if it isn’t already. This is also true for Business Experian and Small Business Equifax.
- Some net 30 vendors will approve your company upon verification with as little as a Tax Identification number and a 411 business listing.
- Some vendors will require an initial prepaid order before they can approve your business for net 30 terms.
- You must be patient and allow time for the vendors’ data reporting cycles to get into the reporting systems of bureaus like DNB.
- It takes a minimum of three reporting tradelines to establish a business credit score (Paydex) with DNB.
Read my books for full details. Available on Amazon:
10 Ways To Make A Million Dollars: https://www.amazon.com/dp/B072JVNHWS
Business Credit & Big Loans in 60 Days: https://www.amazon.com/Business-Credit-Big-Loans-Days-ebook/dp/B0727LF6QW/ref=sr_1_8?s=books&ie=UTF8&qid=1496506933&sr=1-8
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