Step 1.2 – Your Business Location Does Matter
Business Name & Address
Building strong business credit and getting approved for financing is all about paying attention to the details. It is very important that we have your exact business legal name. This includes the recorded DBA filing you will be using. It is not required to have a DBA, but if you need one (or already have one) there are potential issues to be aware of.
Filing DBAs for your Corporation or LLC can cause multiple credit files to open if you’re not careful. For example, say your business bank account is under “ABC Corporation” but you open a credit account as “ABC Corporation, dba ABC Tire Service”, and you have another credit account that you opened as just “ABC Tire Service”.
What will happen in the above example is that your business ends up with three open credit files under all three names…and now you have a mess. If you’re going to use a DBA you’ll need to avoid creating duplicate credit files. All banking, utilities, offices leases, credit accounts, etc. must be opened as “ABC Corporation dba ABC Tire Service”.
The address of your business needs to look like a business address. Do not use a post office box. You can use your home address for business credit building, but be aware that some lenders will not fund “home based” businesses. This will not stop you from building business credit scores, but may limit your funding options.
You Need a True Business Address
To properly establish and build credit, your business needs a deliverable physical address and not a PO Box. In fact, many lenders and credit providers may “flag” your business even if you try to use a reformatted address from service locations like UPS Store, Mail Boxes Etc. and Postal Annex.
If you don’t have an actual storefront or office location, you can run your business from anywhere and still have a qualifying business address with solutions like these:
Would you like to learn more about business address solutions in your area? Click Here.
In the list below, please record for your records “EXACTLY” how your business should be displayed with its “legal name” and contact information. It is under this listing that we will be building your business credit scores.
Please ensure you have the complete the information in your records for your primary business location (May be different from State of formation):
Exact Business Legal Name:
Primary Contact Name:
Primary Contact Title:
Primary Contact Phone Number: