Get approved for Business Credit

I read a post in a small business forum the other day and the member could understand why he was getting denied for business credit. He said that he had been in business for a a year and that he had an 80 paydex score. He applied to Office Depot, Staples, Lowes and they all denied his request for business credit.

This is a typical case where a small business owner who's building business credit does not have the knowledge or education on the steps to build business credit. Before you can began to build business credit you need to have a complete business credit file. I will list the steps below.

1. Your business need to be listing in all the major online search engine sites like Google, Yahoo, and Bing. These are the major site that most creditors lenders will use to verify your business information. 411 listing is also important. Creditors will do a 411 check to verify your phone number in the directory to get information about your company. Get listed!

2. Have you checked your business credit file with the D&B, Experian and Equifax. The 3 major business credit bureaus. Sometimes the information that they have on about your company is inaccurate and that will cause your application for credit to get denied. Phone numbers, age of company, address and SIC code information maybe be reporting inaccurate. Get a copy of your business credit file, review it and make the necessary corrections as you see fit.

3. Have you submitted your financials to D&B? This is a major step in the process of building your business credit file. This process must be done before applying for business credit. This step will give you a favorable credit rating with d&b.

4. Are you familiar with public filings and how they can be used to strategically add trade lines to your business credit file?  A UCC-1 filing can greatly enhance your business credit score and rating.Not many small business owners know what a UCC is or how it works. Filing one and completing the process is a must for those seeking business credit.

These are just some of the steps that need to be completed before you can began to apply for business credit. As lending standards tighten up you need to make sure that your business credit file is fool proof. Gboogie America is the leader in business credit education. Now where on the internet will you find our proven methods for building business credit and how to obtain unlimited amounts on business credit.

Click the link below to get your copy of the ultimate business credit e-book. Or if you prefer to one of our business credit experts work on your file, click on the Business Credit America link for additional information.  

Al,
Business Credit Consultant
twitter.com/alplouisea
alplouis@gmail.com

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http://www.businesscreditamerica.com/