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Build Business Credit from Scratch in Seven Steps

Business credit helps lenders, suppliers and partners assess your company’s financial health. Strong business credit can improve your ability to:

  • Qualify for loans and lines of credit.
  • Secure better interest rates and terms.
  • Establish credibility with vendors and partners.

Building credit from the ground up takes time, but every step you take improves your financial foundation.


Step 1: Legally establish your business.

Separate personal and business credit.

  • Form a legal entity (LLC, corporation, etc.) and register it with your local and state government offices.
  • Apply for an Employer Identification Number (EIN) through the IRS.
  • Open a business checking account with your company name. 
  • Keep purchases and debt separated to protect both your personal score and your business’ financial identity.

Step 2: Register with business credit bureaus.

Register with the major bureaus to start tracking your credit use and payment history.

  • Dun & Bradstreet (D&B) for a free D-U-N-S number
  • Experian Business
  • Equifax Business

Step 3: Open trade accounts and credit lines.

Open a business credit card account with flexible rewards and reporting options. Also establish accounts with vendors that report to credit bureaus, including:

  • Office supply companies
  • Wholesale distributors
  • Business credit cards

Step 4: Pay on time (or early).

Timely payments are the single biggest factor in your business credit score. In fact, paying early can give your D&B PAYDEX score a boost.


Step 5: Monitor your credit regularly.

Check your credit reports at least once a quarter. Monitoring services are available directly through D&B, Experian and Equifax.


Step 6: Grow credit with responsible use.

Responsibly managing credit as your business grows signals maturity and lowers lender risk.

  • Increase credit limits.
  • Take on larger vendor contracts.
  • Apply for business loans to build a stronger credit profile.

Let’s grow your business together.

Building business credit is a journey, but you don’t have to go it alone. Whether you need business checking accounts, credit cards, lines of credit and loans, merchant and treasury services, we can help. Get more details on establishing business credit. For more information on Synovus small business financial solutions, call 1-888-SYNOVUS (1-888-796-6887) or stop by one of our local branches.

Important Disclosure Information

This content is general in nature and does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information. Diversification does not ensure against loss.