You've heard the old saying--there's no time like the present. Nothing could be truer than when it comes to building a business credit report. If you haven't started yet, get started now! Your business credit report is the main cornerstone in creating business fundability. Without it, you will have a hard time getting loans, but there are even more reasons for having good credit reports in your business' name.

An Open Book

Unlike personal credit reports, business credit scores are open to public view. There's a reason for that. Open viewing allows potential customers the ability to check you out and make sure you are a reliable and stable business before entering any dealings with you. Open credit reporting on businesses also gives vendors and other B2B operations a way of deciding if they want to partner with you, or be associated with you. These are very good reasons to develop a strong and separate business identity and credit report.

Just Starting Out

Don't be fooled into thinking that just because you are just starting your business, you do not have the resources to create a separate business identity and credit score. Many of the steps you need to take to create a business credit identity are easy, quick and best of all, won't cost you a penny. You can find out more about creating a business credit identity within the business fundability system.

The Big Two

Creating a basic identity for your business isn't hard to figure out. You need a unique name, an address and phone number unique to your business, and most likely a website. These mark your business as an individual, but they aren't enough to create a separate identity for credit purposes. The two big things you will need to show a separate personality and avoid linking your own personal credit to your business' are a tax identity (an Employer Identification Number, also known as EIN available from the IRS), and a DUNS number available from the business credit reporting powerhouse Dunn & Bradstreet. Both are easy to obtain and available directly online from the IRS and Dunn & Bradstreet websites. Keep in mind that the DUNS number may take a few weeks to process so don't waste any time in starting that process.

Business Credit Reports business credit, credit for a business