After getting 3 vendor accounts, you can get
revolving credit. Revolving accounts are cards a
business owner can use and not be required to
pay the full balance owed each month.
Revolving account approvals will begin coming
from stores. Get store revolving credit before
getting Visa and MC 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. Starter
vendor accounts must be used first to establish
a profile and score, then you can get store credit.
It usually takes only 90 days or less to establish a
score and profile with trade lines.
Some of the most popular starter vendors
including Uline, Grainger Industrial Supply, and
Quill. All of these have different requirements to
approve you, but they are great sources to help
you build initial business credit when you have
Once 10 total accounts are on the credit, an owner
can then start applying for Visa and MC type
credit. Approval amounts will equal the highest
credit limit account on the business report. Try to
have 10 accounts with at least one of them having
a $10,000 high limit. Keep using the credit and
keep applying for more. Talk with credit providers
to raise credit limits.
Then business credit will
keep growing until you get higher limit credit
lines, within 6 – 12 months.
Building business credit is 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 act
on the first step and make sure your business is
set up credibly. As you do this get your business
credit report access established. Then you can
start building your vendor credit to establish your
credit profile and score so you can start securing
revolving credit accounts.
If you have followed these steps you will have
an established business credit profile and score
that you can grow and continue to get more and
more credit. Many people ask, “how long does
it take to build business credit?” Like with your
consumer credit this is a never-ending process.
You will always be growing your business credit
as your business grows because you’ll need to
access more and more credit.
If you pull a credit report
for Walmart, you will
find that their highest
reported credit line has
a limit of $50,000,000!
But they didn’t start out
with those high of credit
limits. They grew their credit over the course of
You may never need a credit line for $50,000,000.
But as your company grows you will have an appetite for more and more credit. For this
reason, building your business credit never stops.
You can start getting vendor credit right away. It
will take about 30 – 90 days for that new credit to
report. So, it’s a great time to apply for revolving
store credit cards. Keep going with growing your
Get started today securing your first vendor
accounts. This will net you a business credit
profile and score you can then use to get real
usable store credit. This leads to getting cash
credit to help your business grow.
Good luck on building your business credit! Let
us know if we can every help you in the process.