How to Build Business Credit When Paying Business Expenses - Business Credit 2020

How do you build business credit? In this video discover how to start building business credit while paying for your business expenses. Whether you are a startup or existing business, establishing a business credit report for your company is a crucial step to maximizing the funding ability of your company.
 
As every business owner knows, access to cash and credit is an essential ingredient to the success of a company.Show more

Check out http://smartcorporatecard.com to build business credit while paying your business expenses.

For our Step-by-Step Business Credit Building system go to https://businesscreditbuilders.org/

If you have a business, you will have business expenses so why not have those expenses report to your business credit reports.

Business expenses are costs you have in the ordinary course of running your business day-to-day. When it comes to building business credit, it’s crucial to keep your personal finances separate from your business finances.

Before you start the business credit building process you will need to incorporate your business so it becomes recognized as a separate legal entity.

The next step is to obtain an Employer Identification Number (EIN). This number is used to identify your business entity to the IRS, banks, lenders, suppliers, vendors and other businesses.

This number is also linked to your business credit file with business credit reporting agencies such as Dun & Bradstreet, Experian Commercial and Equifax Business.

Think of your company’s EIN like the social security number for your business. This will also be required when opening a business checking account. After you establish a business checking account, you’re ready to apply for a smart corporate charge card.

Once you get approved, the next step is to use your charge card to pay both your fixed and variable expenses.

Fixed expenses are costs that are the same amount each month and are usually paid on a regular basis. They remain consistent over time such as office rent payments, insurance, subscriptions, utility bills, internet service, communications, etc.

Variable expenses are costs that change depending on a company’s activity level or volume such as production supplies, business meals, travel, advertising and marketing, etc.

If you are currently paying for these expenses using a company check, credit card, cash or bill pay service; none of these helps you build business credit.

This corporate charge card reports your company expenses to Dun and Bradstreet, Experian Business and Equifax Small Business. Remember, building business credit is a process and takes time but leveraging the expenses you are already paying for is a great first step.

A smart corporate charge card is one of the quickest ways to build business credit every month with the expenses you are already making.

For more details and a list of easy approval net 30 vendors be sure to check out the following resources below.
https://youtu.be/MIaqlMwAIFI
http://smartcorporatecard.com
https://businesscreditbuilders.org/business-credit/
https://businesscreditblogger.com/