For your business to have a strong credit profile it must have a total of 9 tradelines that breakdown as 5-3-1...5 vendor lines of credit, 3 business credit cards and 1 reporting bank loan.
The 5 vendor lines form the foundation of a three layer pyramid that is best built from the bottom up.
Having 5 vendor lines of credit sets the stage for most business credit card (revolving) accounts and bank lines. That foundation will be made of sand if the vendors that extend credit to your business do not report to the business credit reporting agencies. It is vital that all your vendors report your good payment history, not just when you default.
The Business Credit Building System lets you search through and select those vendors that best fit your business needs. It also allows you to see their credit account requirements before you apply. You will be able to select and set-up accounts with vendors from the following categories:
- Starter Vendors
- Computers - Electronics
- Office Supplies
- Building - Industrial
- Major Retail
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