Instant Business Credit

Once you have an entity structure and obtained a Dun & Bradstreet number now it’s time to start building your business credit profile. One of the biggest mistakes made by entrepreneurs attempting to build instant business credit is applying for numerous vendor accounts.

While some may have a tendency to believe that the more the merrier is a sound strategy I tend to disagree. The reason is simply getting approved for vendor credit is one thing but what really matters is whether or not the vendor reports your payment history to the business credit bureaus.

There are over 500,000 vendors extending credit to businesses, but less than 6,000 of them report to the business credit bureaus! So to build your business credit you have to make sure you choose the right vendors to apply with.

Secondly, there are vendors who do report your payment history but only on a quarterly or even yearly basis. Time is of the essence so for establishing instant business credit you have to make sure the vendor you apply with also reports to the business credit bureaus on a monthly basis!

Here are some examples of instant business credit resources:

Instant Business Credit Vendor

Quill

Quill sells office supplies, cleaning supplies, packing and shipping supplies, school supplies, printing supplies, and more. From filing and storage to hand held computers, Quill has a wide range of discounted top name brand products.

Quill offers a net 30 account and reports to Dun and Bradstreet.  Best of all they report your payment history every 30 days. For small orders you can get approved with a listing on 411 directory and have a working website. New businesses can start out with smaller limits that will increase when you pay on time every month.

Instant Business Credit Membership

Business Credit Insiders Circle

BCIC is a business credit building membership for small business owners providing a step by step business credit builder system including vendor credit lines, business credit cards, funding sources and payment reporting.

BCIC offers a monthly membership account and reports to Dun and Bradstreet. Best of all they report your payment history every 30 days.

Instant Business Credit Card 

Visa® Business Platinum Card

Capital One by far provides the fastest response for business credit approval.  (60 seconds) This card is perfect for new or established business owners who want to build business credit history.

Capital One Small Business offers a 0% introductory APR on purchases until 2010 as well as balance transfers. There’s no annual fee and credit line approvals can be up to $10k.

While you can obtain instant business credit for your business the process of building a business credit profile and score does take some time.  As long as you keep your credit lines active and maintain a solid payment history with minimal balances (less than 30%) you can expect to see your credit lines increase over time.

New credit line approvals for your business will also be larger due to favorable business credit scores and existing credit line capacity.

Looking to access instant business credit with a step by step business credit building system? A system that provides you access to premium vendors, business credit cards, funding sources and lenders that report to all the major business credit bureaus? Become a member of my Business Credit Insiders Circle. Submit your name and email below for details and receive a free audio seminar ($597 value) =>

About the Author

Marco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. A business credit building membership helping business owners in establishing business credit. He is a weekly columnist for Dun & Bradstreet Small Business Solutions, a business credit blogger for All Business & American Express Small Business and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.