| For those of you who are new at this: when you | | | | the potential that business credit has than your |
| order from certain vendors they will report to | | | | approach should be different. |
| business credit agencies and/or places like | | | | Recall that I mentioned the usual vendors (like |
| D&B (which is really a data collection agency). | | | | Graingers etc) that most people use, initially you |
| Now, not all vendors report. That is why places | | | | might have to work with them since they can be |
| like Graingers, Uline, Quills etc (companies that do | | | | easy to get. The main point I want to stress is |
| report) are popular among business credit builders. | | | | you just have to get some vendors on your |
| In fact they get a lot of business just because | | | | credit that are not the usual, most common |
| they report. | | | | players. In the future I will add a more complete |
| Keep in mind that many lesser known businesses | | | | list of little known vendors that report to places |
| also report. There was a time when all one had to | | | | like Experian, D&B and the like. One such |
| do was get an EIN number and they would call | | | | place is Strategic Network Solutions and the other |
| two of these vendors, get credit and after a | | | | is USPS (believe it or not). |
| month apply for unsecured credit cards. Times | | | | You just have to understand that having a great |
| have changed. | | | | business credit file is more than just some usual |
| Today you need to have more vendor credit and | | | | vendor credit yet it is NOT that hard to build. A |
| you have to wait longer. But there have been | | | | business file that can not only get GREAT |
| even more changes, subtle changes... | | | | business credit but can "bring-up" a brand new |
| Part of lending is subjective. Say if I (or someone | | | | corp that you make. That makes it much easier |
| from my team) is looking at a business credit file. | | | | for the new corp to get credit. That is similar to |
| Nine times out of ten times we can tell if the | | | | having a co-signer. Now isn't that interesting. Yes, |
| company's sole aim is to get quick credit. One of | | | | there is just a lot more to business credit than |
| the first things that will make it obvious is that | | | | meets the eye. |
| the vendors involved would be the usual: | | | | For now look into other companies that report on |
| Graingers, Quills, Reliable etc. My point is if you are | | | | your business credit report, a good mix of |
| aiming for some great business credit without PG | | | | vendors is a must. Your business should look real |
| (personal credit guarantee) you cannot follow the | | | | and active. In these times you need to have |
| crowd. | | | | everything in order and than a little more, AN |
| As credit becomes tighter, the need for credit is | | | | EDGE. Do not leave anything to chance. |
| actually going up. This is mainly due to the vast | | | | Remember your aim should be higher than the |
| number of undervalued assets available for sale. | | | | average person building business credit......you have |
| Restaurant owner are selling at a loss, real estate, | | | | better information on the subject, don't you! |
| Laundromats and pretty much most businesses | | | | Here is one lesser know vendor that reports: |
| under the sun that have their income cut in half | | | | United States Postal Service(Post Office) reports |
| while their debt service remains the same. So the | | | | to Dunn & Bradstreet. They have a "Postage |
| demand for credit/financing is very high. As a | | | | meter account" that is mainly for larger mailings. |
| result more and more people are getting into | | | | An authorized meter manufacturer that work in |
| business credit building. As with any emerging | | | | conjunction with usps report, with certain credit |
| trend the information out there is slightly outdated | | | | accounts that they offer. |
| and in most cases very outdated. | | | | Another vendor is Strategic Network Solutions |
| If you are aiming for some credit than by all | | | | who reports to Experian business. |
| means follow the crowd. But if you want to fulfill | | | | |