I. Introduction to getting $250,000 in Business Credit

Unleash Your Business Business Credit and Credit Score with Dun & Brad Street.  Get up to $250K +

Let's take the challenge and get up to $250k in business credit within the next 6 months

Business credit is an important tool for any business, and can be extremely useful for obtaining funding and maximizing a business owner’s borrowing power. Business credit is the lifeblood of any successful operation, providing the resources necessary for growth and stability.

Starting a business is no small feat. It requires a significant investment of time, money, and effort. But, with the right approach, the rewards can be truly staggering. And, one crucial aspect of a successful business is having access to reliable and flexible credit. 

In this article, we'll show you how to unleash your business potential by securing $250,000 in business credit within just 4 to 6 months. With our proven strategy, you'll be able to take your business to the next level, with confidence and conviction. 

So, let's dive in and discover the power of business credit.

IV. Building Your Business Credit Score

• Apply for Vendor trade accounts (also known as Net Accounts defined as: What does net 30 mean? When you offer someone net 30 terms, you're offering them the chance to pay you up to 30 calendar days after you bill them for a good or service. Net 30 is a form of trade credit.) 

• Consistently pay bills on time and avoid high debt levels.

• Use business credit responsibly.

• Once the vendor accounts are reporting you will receive a PADEX business credit score with Dun & Bradstreet.

• Your PAYDEX score goal should be between 80 and 100.

• Apply for revolving store credit (repeat the same process by using your new store credit and paying back early or on-time)

• Once the store credit reports to Dun & Bradstreet, then apply for Fleet credit. (defined as: Fleet cards, also known as fuel cards, act just like charge cards and are provided by major oil and/or specialized credit companies.)

• You can at this point also consider obtaining a secured business credit card.

• Once your fleet credit and or secured business credit cards are reporting to Dun & Bradstreet.  Then apply for unsecured business credit cards. Then repeat the process until your payments begin reporting to the business credit bureaus..

V. Securing Revolving Business Lines of Credit

Once approved for a true revolving business line of credit, you will be able to draw down any amount, at any time, as long as it does not surpass the maximum approval amount.  Additionally, you’ll be able to get line increase reviews every 60 days.

• Business lines of credit also require business revenue.  Your business can typically get approved if you have 3 to 6 months of business bank statements showing $10,000 in monthly revenue.

• For amounts of $50,000 or more you will also need business tax returns.

• Occasionally, for larger amounts equaling $100,000 or more you will also need a P&L statement and a balance sheet.

VI. Conclusion

• The steps outlined in this article will help you secure $250,000 in business credit.

• Building and maintaining a strong business credit profile requires continuous effort and attention.

• Stay focused and persistent to ensure your business has the financial resources it needs to succeed.

VII. FAQs

• WHAT IS BUSINESS CREDIT?

Business credit refers to the credit extended to a business entity, rather than to an individual. It's a way for companies to access financing for their operations, such as purchasing supplies, equipment, and other resources. With business credit, companies can reduce their dependence on personal finances and lower their overall risk, giving them more opportunities to grow and succeed.

• DOES BUSINESS CREDIT EVEN REALLY EXIST?

Just as you have a credit file linked to your SSN, your business has a profile linked to its EIN. Experian, Equifax, and Dun & Bradstreet often start your profile when your business applies for a loan, credit card, or even when you set up basic utilities.

From that point most credit you apply for won’t report to the business reporting agencies unless you apply for different types of credit in a particular order, or leave your SSN off of the application.

Real business credit can be obtained with no SSN being supplied upon application. This credit doesn’t appear on your personal credit reports either. As you build your business credit your EIN profile and score then becomes essential to helping you qualify for bank loans and credit cards. And you can use EIN credit and EIN credit alone to get approved for many types of credit without a personal guarantee.

Every highly-successful privately and publicly owned company in the United States has business credit. But what many don’t know is that even startups can also obtain it… if you follow the right steps.

• HOW LONG DOES IT TAKE FOR ME TO GET BUSINESS CREDIT?

You can qualify for real usable vendor credit immediately. You’ll then start to qualify for store credit within 60-90 days which doesn’t require a personal credit check or personal guarantee. Within 6 months you should have access to $50,000 in real usable credit, including Visa and MasterCard accounts.

• WHAT EXACTLY IS THE FINANCE SUITE? WHAT DOES IT DO?

The Business Finance Suite includes the Business Credit Builder Program which is an online platform specifically engineered to walk you through a customized step-by-step process on how to build your business credit - from start to finish. In other words, this program is tailored to YOUR specific situation, which makes your process of getting funds very simple and intuitive.

As you go through the program, you'll be able to know in real-time, which lending and credit sources you're pre-qualified or pre-approved for so you have the confidence that you'll be approved before you even apply!

In addition, you'll have concierge service from our business credit advisers and finance officers to assist you at any given stage. Between our revolutionary online platform and our LIVE expert team at your fingertips, you're guaranteed to get results - as long as you actually use the program.

You can then continue to build $100,000-$250,000 or higher in business credit within a year to two. And with our Business Finance Suite you can also gain access to other cash funding programs within a couple of months or less.

• IS THIS COMPLICATED? CAN I REALLY DO THIS?

When our company first started, there was not a lot of information on the topic of obtaining Business Credit, especially not one that’s not linked to an SSN. Over the years, we have fine-tuned and upgraded our instructions and the Finance Suite so that it is as easy to follow as possible.

Every step of the Finance Suite includes simple education videos and direct resource links so that your business credit building journey is a 'no-brainer'. On the rare occasions that you need help, you have our business credit advisers and finance officers to help!

So as long as you're committed to follow our instructions and are serious about the success of your business, then yes, you really can do this -- even if you're technically challenged. With that being said, it's important to understand that we do NOT build your business credit FOR you. We help you through simple step-by-step instructions and education. Essentially, follow our instructions and get results.

• HOW DOES BUILDING BUSINESS CREDIT REALLY WORK?

The first step is to ensure your business is set up credibly so you meet credit issuer and lender standards, before you apply. Next you get real usable credit through vendors. These vendors will give you credit when you have no other EIN credit established. And they report this credit to the business reporting agencies.

Within 60 days or less that credit is reported to Experian, Equifax, or Dun & Bradstreet. Once reported, your EIN will then have an established credit report and score.

Using that report and score you can then continue to apply for more tiers of credit where you can start getting access to revolving credit at most stores, credit that’s linked to your EIN and not your SSN and credit that doesn’t require a personal guarantee or personal credit check for approval.

You can continue to grow your credit to obtain fleet cards, even Visa and MasterCard cash credit. And by having business credit established you’ll have a much better chance of getting loans, credit lines, and getting these at better terms.

• CAN PEOPLE WITH BAD CREDIT GET MONEY THROUGH THE FINANCE SUITE?

Building business credit correctly means there is rarely a credit check for business owners to qualify. This means all business owners, even those with bad credit, can benefit with the finance suite by building their business credit.

If the business owner has credit challenges and also has some kind of collateral, they can also get funding along with business credit.

Funding can be secured in as little as 30-60 days and most forms of acceptable collateral will qualify including credit card sales, inventory, equipment, receivables, even consistent revenue.

And we have revenue-based funding programs where if a business owner can prove through bank statements that they have consistent revenue, they can be approved with a credit score as low as 500.