How To Build Credit For Your EIN That Is Not Linked To Your SSN 2019

HOW TO BUILD
CREDIT FOR YOUR EIN

THAT’S NOT
LINKED TO YOUR SSN
How to Build Credit for Your EIN That’s Not Linked to Your SSN
How to Build Credit for Your EIN

That’s Not Linked to Your SSN
Business Credit is credit obtained in a Business Name. With business
credit, the Business builds its own credit profile and credit score. With
an established credit profile and score, the business will then qualify
for credit. This credit is based on the business’s ability to pay, and not
the business owners. Since the business qualifies for the credit, in some
cases there is no personal credit check required from the business
owner.
You must actively work to build business credit.
But it can be done easily and quickly – much faster than building
consumer credit scores. The vendor credit tier is a big part of this
process. If you try to do the steps out of order, you will be turned down
repeatedly. Fortunately, we know the steps to take. And we know the
order in which you need to take them.
There are a ton of benefits that business credit provides, including that
a credit profile can be built for a business that is completely separate
from the business owner’s personal credit profile. This gives business
owners DOUBLE the borrowing power as they have both Personal and
Business credit profiles built.
Business credit scores are based only on whether the business pays its
bills on time. A business owner can obtain credit much faster using
their business credit profile versus their personal credit profile. Approval
limits are much higher on business accounts versus personal accounts
which are yet another benefit. Per SBA, credit limits on business cards
are usually 10 – 100 times higher than consumer credit.
The business can use its credit to qualify for
retail credit tier cards like Staples, Lowes,
Sam’s Club, Costco, BP, Wal-Mart, even
MasterCard, Visa, and AMEX. The business
can also qualify for credit lines and loans.
When done correctly, Business Credit can
be built without a personal credit check.
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Business credit can quickly be obtained regardless of personal credit

quality. Plus most business credit can be obtained without the owner
taking on personal liability, or a personal guarantee. This means in case
of default, the business owner’s personal assets can’t be pursued.
Even though most don’t know this, when a business owner applies
for financing, their business credit IS reviewed. Not having established
business credit will get an owner DECLINED for financing. There are no
regulations that require lenders to notify the business owner of their
reason for denial, so most never know.
One last benefit: business credit determines the rate and term someone
pays and how much they’ll get approval for.
Business Credit Building Step 1– Building

Business Fundability
The perception lenders, vendors, and credit
issuers have of your business will be critical
to your ability to build strong business
credit. Before applying for business credit,
a business must insure it meets or exceeds
all lender legitimacy standards. There
are over 20 legitimacy points necessary
for a business to have a strong, credible
foundation.
It is very important that you use your exact business legal name.
Your full business name should include any recorded DBA filing you
will be using. Insure your business name is exactly the same on your
corporation papers, licenses, and bank statements.
You can build business credit with almost any corporate entity type.
But if you truly want to separate business credit from personal credit,
your business must be a separate legal entity and not a sole proprietor
or partnership. Unless you have a separate business entity (Corporation
or LLC) you might be doing business but you are not truly a business.
You need to be a Corporation or an LLC in order to separate personal
from business.
Your business entity will also matter for taxes, and for liability in the
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event of a lawsuit.
Whether you have employees or not, your business entity must have
a Federal Tax ID number (EIN). Just like you have a Social Security
Number, your business has an EIN. Your Tax ID number is used to open
your bank account and to build your business credit profile. Take the
time to verify that all agencies, banks, and trade credit vendors have
your business listed with the same Tax ID number.
Your business address must be a real brick and mortar building, a
deliverable physical address. It cannot be a home address, or a PO Box,
or a UPS address. Some lenders will not approve and fund unless this
criterion is met.
You must have a dedicated business phone
number that is listed with 411 directory
assistance, under the business name. Lenders,
vendors, credit issuers, and even insurance
providers will verify that your business is
listed with 411. A toll-free number will give
your business legitimacy, but you must have
a LOCAL business number for the listing with 411 directory assistance.
Lenders perceive 800 numbers or other toll-free phone numbers as a
sign of business legitimacy. Even if you're a single owner with a home-
based business, a toll-free number provides the perception that you
are an even bigger company. It’s incredibly easy and inexpensive to set
up a virtual local phone number or a toll free 800 number.
A cell or home phone number as your main business line could get
you flagged as an unestablished business that is too high of a risk.
DON'T give a personal cell phone or residential phone as the business
phone number. You can forward a virtual number to any cell or land
line phone number.
Credit providers will research your company on the internet. It is best
if they learned everything directly from your company website. Not
having a company website will severely hurt your chances of obtaining
business credit. There are many places online that offer affordable
business websites so you can have an internet presence that displays
an overview of your company's services and contact information.
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It is important to get a company email address for your business. It's

not only professional, but it also greatly helps your chances of getting
the thumbs up from a credit provider. Setting up a business email
address is just too easy and inexpensive to neglect.
One of the most common mistakes when building credit for your
company is nonmatching business addresses on your business licenses.
Even worse is when you don’t have the required licenses for your type of
business to operate legally. You will need to contact the State, County,
and City Government offices to see if there are any required licenses
and permits to operate your type of business.
State business, county license and/or permit, city license and/or permit
and IRS filings listed correctly. Take the time to verify that main agencies
(State, IRS, Bank, and 411 national directory) have your business listed
the same way and with your Exact Legal Name. Also take the time to
ensure every bill you get (power bill, phone bill, landlord, etc.) has the
business name listed correctly and comes to the business address.
Business Credit Building Step 2– Getting Your

Business Credit Reports
Go to the D&B website and get your free D-U-N-S number. This is
how D&B gets your company into their system, in order to generate a
PAYDEX score. If you have no D-U-N-S number, then there is no record
and there can be no PAYDEX score.
Business Credit reports are offered by Experian, Dun & Bradstreet, and
Equifax. You will first want to get a copy of your business credit reports
to see what is being reported before you start your business credit
building.
You can visit www.creditsuite.com/reports to access your business
credit reports with Experian, Equifax, and Dun & Bradstreet.
Business Credit Monitoring

Know what is happening with your credit.
Make sure it is being reported. Address
errors as soon as possible. Get in the habit
of checking credit reports and digging into
details, not just scores.
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You won’t need to get reports with all three, but you should at least
have monitoring set up with Dun & Bradstreet, and possibly Experian.
Smart Business credit reports from Experian cost $37 – 175. With these
reports you can find out how many trade lines are reporting, see if you
have a business credit score assigned, see if you have an active Experian
Business Profile, and check on recent inquiries.
It typically takes more time to create a file with Equifax Small Business
than D&B and Experian. This is because not a lot of vendors and credit
issuers actually report to Equifax. Instead, most report to Experian or
D&B. This is also why it's important to apply with the credit providers
who report to Equifax when you find them. You can get set up for
Equifax credit monitoring for as little as $19.95 monthly.
Dun & Bradstreet offer a CreditMonitor product where you can get
unlimited access to your D&B reports and scores for $49 monthly.
IMPORTANT NOTE, if you do end up getting set up for this, you might
get a call from Dun & Bradstreet Credibility. Keep in mind this is not
actually Dun & Bradstreet; this is a completely separate privately owned
company.
Do NOT purchase their credit builder program, no matter what they
tell you. This is NOT something you need and NOT something you
should pay for. This program only adds trade references to your report,
but instead you will be building your business credit using real useable
credit.
You can visit www.creditsuite.com/monitoring to access your business
credit reports with Experian, Equifax, and Dun & Bradstreet.
Fix Business Credit

While monitoring, you may find errors in your reports. You can update
errors or incomplete data as follows:
●● D&B: https://iupdate.dnb.com/iUpdate/viewiUpdateHome.htm
●● Experian: experian.com/small-business/business-credit-
information.jsp
●● Equifax: equifax.com/business/small-business
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Business Credit Building Step 3 – Getting to

the Vendor Credit Tier
A business credit report can be started much the same as a consumer
report commonly is, with small credit cards. The business can be
approved for small credit cards to help them build an initial credit
profile. These types of initial cards in the business world are commonly
referred to as the vendor credit tier.
You must start a business credit profile and score with starter vendors.
Starter vendors are ones who will give you initial credit even if you have
no credit, no score, or no trade lines now. Most stores like Staples will
NOT give you initial starter credit so DON’T even try applying. Most
stores will NOT approve a business owner for business credit unless
the owner has an established credit profile and score, just like in the
consumer world. Vendor credit tier accounts must be used first to
establish a profile and score, and then store credit can be obtained. It
usually takes only 90 days or less to establish a score and profile with
trade lines.
A vendor line of credit is when a company (vendor) extends a line of
credit to your business on Net 15, 30, 60 or 90 day terms. This means
that you can purchase their products or services up to a maximum
dollar amount and you have 15, 30, 60 or 90 days to pay the bill in full.
So if you're set up on Net 30 terms and were to purchase $300 worth
of goods today, then that $300 is due within the next 30 days.
Always apply first without using your SSN. Some vendors will request
it and some will even tell you on the phone they need to have it, but
submit first without it. Most credit issuers will approve you without
your SSN if your EIN credit is strong enough. If your EIN credit is not
good enough, you might be declined and they then might ask for your
SSN. No matter what ANY credit representative tells you, credit CAN
be obtained based on your EIN only.
When your first Net 30 account reports your trade line to Dun &
Bradstreet, the DUNS system will automatically activate your file if it
isn't already. This is also true for Experian and Equifax.
You need to have a total of at least five (5) Net 30 day pay accounts
reporting, and eight (8) is even better. Some vendors require an initial
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prepaid order before they can approve your business for terms. Your
vendors do not necessarily have to serve 100% of your business needs.
Starter Vendor #1: Uline Shipping Supplies

Find them online at uline.com. They sell shipping,
packing, and industrial supplies, and they report to
D&B. You must have a D-U-N-S number, 2 references,
and a bank reference. Your first few orders may need
to be prepaid to initially get approved for Net 30 terms.
Starter Vendor #2: Quill

Find them online at quill.com. They sell office, packaging, and cleaning
supplies. They report to D&B and Experian. With reports to 2 separate
credit reporting agencies, you get 2 credit experiences with them! You
must place an initial order first unless your D&B score is established.
Usually they put you on a 90 day prepayment schedule. If you order
items each month for 3 months, they typically approve you for a Net
30 Account.
Starter Vendor #3: Gempler’s

Find them online at: gemplers.com. They sell work supplies and
products. They report to Dun and Bradstreet. Place your initial order
for over $50 and select the Invoice me option. Then they will pull your
credit. If you are not approved, then make sure to prepay for the order.
Keep purchasing and choosing the Invoice me option until you are
approved for a Net 30 account.
Non-Reporting Trade Accounts

While you do want trade accounts to report to at
least one of the credit reporting agencies, a trade
account that does not report can still be of some
value. You can ask non-reporting accounts for
trade references. Plus credit accounts can help
you to better even out your business expenditures,
making budgeting easier. These are companies like PayPal Credit,
T-Mobile, and Best Buy.
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the Retail Credit Tier
After 5 trade lines are established under the vendor credit tier,
obtaining retail credit tier accounts is the next step. Retail credit tier
accounts are cards have revolving terms. Therefore, a business owner
can use these cards and not be required to pay the full balance owed
each month.
Retail credit tier account approvals will begin coming from stores.
Retail credit tier credit must be obtained before the business owner
starts getting Visa, MC, Amex, type cards. Most stores will NOT
approve a business owner for business credit unless the owner has an
established credit profile and score, just like in the consumer world.
Vendor credit tier accounts must be used first to establish a profile and
score, and then retail credit tier cards can be obtained. It usually takes
only 90 days or less to establish a score and profile with trade lines.
Most major retail stores offer business credit accounts, although they
don’t promote that they do. Major retailers including Walmart, Target,
Best Buy, Amazon, Sam’s Club, Costco, Staples, Office Depot, Lowes,
Home Depot, BP, Chevron, and most other retailers all offer business
credit. And most of these retailers will approve you for new credit once
you have a credit profile established, have a good business credit
score that results from you paying your bills as agreed, and once you
have 5 payment experiences or more established on your business
credit profile.
One example is Lowes. They report to D&B, Equifax and Business
Experian. They want your company to have a D-U-N-S number and a
PAYDEX score of 78 or better.

the Fleet Credit Tier
With 8 – 10 accounts reporting, you can move onto the fleet credit tier.
These are companies like BP and Conoco. This kind of credit is used to
buy, repair, and maintain vehicles. Apply with your EIN and not your
Social Security number.
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One example is Shell. They report to D&B and Business Experian. They
want your business to have a PAYDEX score of 78 or better, and a 411
business phone listing. They might say they want a certain amount of
time in business or revenue. But if you already have enough trade lines,
that won’t be necessary and you can still get an approval.

the Cash Credit Tier
Once 10 total accounts are on the credit
report, an owner can then start applying
for the cash credit tier. This is Visa, MC,
Amex type credit. Approval amounts will
be equivalent to the highest credit limit
account on the business report. Try to have
10 accounts with at least one of them having
a $10k high limit. It is essential to keep using the credit, keep applying
for more, and talk with credit providers to raise credit limits. If you do
this, business credit will keep growing until higher limit credit lines
are obtained, within 6 – 12 months.
One example is the Fuelman MasterCard. They report to D&B and
Equifax Business. They want your business to have a PAYDEX score of
78 or better, and 10 trade lines reporting on your D&B report. They will
also want to see a $10,000 high credit limit reporting on D & B report
(other account reporting), and yours will need to be an established
business.
Additional Retail Companies in the Retail Credit Tier

These are companies like Walmart and Dell, and also Home Depot,
BP, and Racetrac. These are often MasterCard credit cards. If you have
fourteen (14) trade accounts reporting, then these are within your
reach.
Business Credit Building is Well Worth It

Building business credit is truly as easy as building consumer credit,
once you know the proper steps to take. Now you know the 4 essential
steps to take to build business credit that’s linked to your EIN and not
your SSN. Now the next step is to take action on the first step and make
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sure your business is set up legitimately. As you are doing this get your
business credit report access established. Then you can start building
in the vendor credit tier to establish your credit profile and score so
you can start securing retail credit tier accounts.
Good luck on building your business credit! Let us know if we can every
help you in the process [email protected].
Start Building Business Credit for Your EIN That’s Not Linked to Your
SSN – and Get Your Business Soaring
If you are looking for business credit and financing to help your
business grow, then we at Credit Suite can help. Give us a call, at 877-
600-2487, or email us at [email protected] and we can help you
with all of these methods and more. Or you can visit us on the web at
www.creditsuite.com.
You can get weekly business credit and financing training tips by
texting TIPS to 855-982-1820.
Contact us today for more information and learn how to get started.
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How To Build Credit For Your EIN That Is Not Linked To Your SSN 2019

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What are the steps to build business credit?

What are the steps to build business credit?

What are the benefits of building business credit?

What are the benefits of building business credit?

HOW TO BUILD

CREDIT FOR YOUR EIN

How to Build Credit for Your EIN

Business credit can quickly be obtained regardless of personal credit

Business Credit Building Step 1– Building

It is important to get a company email address for your business. It's

Business Credit Building Step 2– Getting Your

Business Credit Monitoring

Fix Business Credit

Business Credit Building Step 3 – Getting to

Starter Vendor #1: Uline Shipping Supplies

Starter Vendor #2: Quill

Starter Vendor #3: Gempler’s

Non-Reporting Trade Accounts

Business Credit Building Step 4 – Getting to

Business Credit Building Step 5 – Getting to

Business Credit Building Step 6 – Getting to

Additional Retail Companies in the Retail Credit Tier

Business Credit Building is Well Worth It

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