Stage Two of the Business Credit Success Guide
How to Build Small Business Credit with No Personal Guarantee

Step 10 ~ Fix Your Business Credit File

As we come to a close with Stage Two and get ready for Stage Three it is critical to understand the importance of fixing any inaccuracies on your business credit file before you move forward and start building business credit. In the next stage we will provide you with an understanding of each of the important business credit bureaus along with information and resources for checking your business credit file and disputing any incorrect information.

Just as with your personal credit files, any derogatory items (collections, charge-offs, tax liens, etc.) will have a negative impact on your business’ ability to obtain business credit and unsecured financing with no personal guarantee. We want you to have success in building business credit so please take all the time it might require to have completely clean business credit files.

When you search for your business credit file and don’t find anything, don’t worry you soon will.  You should also be wary if you know your business doesn’t have any business credit and your business credit files show one, two or twenty business credit accounts. The business credit industry is notorius for reporting the account activity for one business to the business credit file of a completely different and separate business with the same or similar name or address. If this is the case, we suggest having them removed now even though you will be losing reported tradelines.  The problem you might run into is you can’t control if the other company will pay their bill on-time, if at all so it is possible these accounts will one day start reporting negatively.  It is better to start with a clean slate than have to deal with the hassle of potential problems down the road.

This is the end of Stage Two, thank you for taking the time to read through and implement each step.  This is the last Stage included with our free guide!

If you would like to continue with your journey of building business credit in order to obtain unsecured financing with no personal guarantee you can purchase the Business Credit Success Guide and access the breadth of our knowledge in a matter of minutes.