In the United States there are various credit reporting agencies. Some report on personal credit, while and other agencies report strictly on businesses and corporations. Dunn and Bradstreet, now called D&B, is the largest business credit reporting agency in the world with over 90 million businesses.
Business credit bureaus only report information on your business if you are in their system. Otherwise (as many business owners painfully discover) your business credit report is just a blank page. Needless to say, having a business credit report that looks as beautiful as fresh fallen snow (all white) is not very impressive to anyone.
Lenders, financial institutions, vendors, and other small business you deal with, will request information from these business credit reporting agencies (not the personal credit reporting agencies) to see if your company is creditworthy by looking for existing business credit and then determine how much credit to grant your business.
This is a chicken and egg problem. (which comes first, credit, or no credit?)
If your company does not have any credit, no other company wants to grant you "business credit" and business owners are frustrated because they constantly get rejected for credit. Business owners soon realize they are just going around in circles getting nowhere. That's when they call TradeLine Enterprises for help.
Understanding this process of “Business Credit Reporting” is similar to personal credit reporting.
It's almost impossible to get credit unless you have credit!
So it quickly becomes clear to most business owners who have tried to get business credit, and failed, that a sketchy, blank, or non-existent, business credit report will force any intelligent company to ask for your personal credit information, thereby defeating the purpose of requesting business credit in the first place.
So what here's what happens. The business owner, now being frustrated, gives in and provides their personal credit information using their Social Security Number and all of a sudden they get credit. Unfortunately, they do not really have business credit. What they have is “personal credit” under their “business name” … it's not the same thing.
Still unclear?
Imagine this. You apply for business credit account for $25,000 with a Fortune 500 company. The Fortune 500 Company pulls your "Business Credit Report" with the press of a button and it's as white a snow ... blank, nada, nothing there.
Instead of insulting you by telling you that you have no business credit, they want to praise you and still get your business. So they politely say "We'd be happy to give you an account ... what's your social security number?"
So you give them your social security number and you get the account. Is that success?
What the company is really doing is setting up a personal credit account under your SSN (your personal credit report) and politely putting your business name on the account or credit card. Many business owners walk away excited to think they really have business credit when in reality all they obtained is another personal credit account with the bill in the company name.
Once again, personal credit accounts never report to the “Business Credit Agencies”. The credit you obtain may be immediate; however it is simply a waste of time if you are trying to build your business credit report.
This is where USA Grant Team can assist your business as we have for thousands of business owners across the country.
USA Grant Team will establish credit with nationally recognized companies and Fortune 500 companies for your business who will report accurate information to various business reporting agencies ALL UNDER YOUR BUSINESS NAME AND WITHOUT USING YOUR PERSONAL CREDIT OR YOUR SOCIAL SECURITY NUMBER.
Now that's Awesome !!! And that's REAL Business Credit !!!
So what are you waiting for?
Your Business Credit Report is just a click away.
Contact us for a free consultation.
