If you’ve ever wanted to build business credit, you’re reading the right article. You’re about to discover the simple 5-step method for the perfect paydex score, your business credit score.
And the good news is that this method works even if your personal credit is bad.
First, let’s uncover some misconceptions about business credit. Here is the truth.
- You don’t need excellent personal credit. In fact, you can build business credit without touching your personal credit.
- You don’t have to be in business for a certain length of time. You can start your business today and start building business credit as soon as the steps below are completed.
- You don’t need to make revenue first. You’ve heard the saying, you need money to make money. There is no reason anyone should go broke building a business when you can utilize business credit.
All you need is a properly structured business model. Unsure if your business is properly structured, grab the free checklist HERE.
5 Simple Steps to Building the Perfect Business Credit Score
Step 1: Setup Your Business– You cannot start building business credit if you don’t have a legit business. You need to register your business with the secretary of state and get an EIN. If you already have these things, be sure the information is correct and up to date. Once you’ve completed this step, you can move on to the next step.
Step 2: Get a Duns and Bradstreet Number– This number is free. I know it may be tempting to start applying for credit once you have established your business, but doing so without your duns number will be working harder and not smarter. Your duns number can take anywhere from 24 hours to 30 days. So, once you receive your paperwork from step one, don’t delay this step.
Step 3: Create a Solid Internet Presence. Many people who are new to business credit don’t realize how crucial this step is. And that’s why many people who try to build business credit fail.
Step 4: Get 3 to 4 Tradelines– I have a list of easy approval tradelines you can start under the biz credit links HERE.
Step 5: Pay Your Tradelines Early- 10 to 15 days before the due date is a good habit. You want to ensure that you are using your tradelines as well.
And there you have it – a simple 5 -step method for getting the perfect business credit score. It takes 30-90 days to generate a paydex score. Now that you know how to get a paydex score, there’s just one thing left for you to do: take action!
Remember, you don’t have to figure it out on your own. I show you how to obtain 50k-100k in business credit funding without using personal credit in the Level Up Your Business Course. It’s a 5-week course with step-by-step instruction via videos and an easy-to-follow workbook.
By the end of this class,
- You’ll have an understanding of how business credit works.
- You will know how to obtain 50K- 100k in 90 days or less even if your business hasn’t made revenue yet.
- You will have a list of 50 of the best tradelines and vendors to use to build your business credit.
- Also included is the Personal Credit Hacks ebook with 9 proven hacks to increase your personal score.
Get the course HERE!
See you at the top,
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P.S. Okay, maybe you’ve thought about starting a business, but need some ideas, check out our post on how to build passive income.
8 Ways to Create Passive Income with Little to No Money Down.