Building Business Credit in 2021 and Going Forward - Business Credit 2021

Ready to start building business credit? In this video learn how data is driving business credit and loan decisions and how to best prepare your startup or existing business.

For small business owners, access to credit and capital is paramount to the success of a business. When you form your business as a corporation or limited liability company it becomes recognized as a separate legal entity with the ability to enter into contracts.

Your company’s EIN number is used to identify your business entity to the IRS, banks, lenders, suppliers, vendors and other businesses.

For our Step-by-Step Business Credit Building System and Business Funding programs go to https://businesscreditbuilders.org/

To start the pre-qualification process for funding go to http://businessfundingreview.com

Your EIN is also used to create a business credit report with business credit reporting agencies such as Dun & Bradstreet, Equifax Small Business, and Experian Commercial.

With technology and increasing access to data, better decisions can be made by banks, lenders, card issuers, etc. There’s improved credit underwriting with machine learning & AI that makes the ability to get business credit and funding more possible than ever before.

At the end of the day, data drives business credit and loan decisions. While traditional data such as personal credit reports, business credit reports and financials will always play a role in risk assessment, alternative data is opening new doors.

The type and amount of business credit and funding you can acquire from a bank, lender, card issuer, vendor, supplier, retailer, etc. is solely based on the data source or sources they use to assess your creditworthiness.

As a business owner, it’s crucial to be aware of these data sources and what it reveals, both positively or negatively.

What’s important is to identify, build, manage and advance these data sources. Doing so will maximize your ability to acquire and increase your access to building business credit and acquiring funding.

Whether it’s a business term loan, business line of credit, business credit card, etc.; it’s important to be aware of what source of data the bank or lender is using to assess your creditworthiness.

The good news is our prequalification review allows you to assess what funding and business credit solutions are available so you can start building business credit as soon as possible.

For more details and a list of easy approval net 30 vendors be sure to check out the following resources below.

https://youtu.be/YR33DiTY0oI
https://businesscreditbuilders.org/
http://businessfundingreview.com
https://businesscreditblogger.com/2021/01/05/net-30-vendors-for-building-business-credit/
http://triadcreditreport.com