Frequently Asked Questions (FAQ)

Why do I need a business credit score?

To establish a separate legal entity for business related borrowing and financial actions that ideally shouldn’t impact your personal credit score.

How do I set up a business credit profile?

There are three different bureaus to establish your business credit profile on. You’ll also need to do the following:

  • Establish a separate bank account for your business finances.
  • Request an EIN or Employee Identification Number
  • Set up the correct business entity status for your business. Do you plan on running your business as a Sole Proprietor, LLC or S-Corp?
Where do I check my business credit score?

You can check your credit report with the credit bureaus that report and tabulate business credit scores. Those bureaus are Experian, Equifax or Dun and Bradstreet.

How do I increase my business credit score?

Business credit is established through the responsible use and repayment of loans and other credit products. In order to maintain and improve your business credit score it’s important to do the following:

  • Pay your bills on time
  • Request a business credit card and use it responsibly
  • Understand what is reported to the credit bureau and what is not.
  • Make sure your vendors and suppliers are reporting your on-time payments. 

About the Authors

Michelle Jackson

Written by: Michelle Jackson

Freelance Financial Writer and Online Business Coach

Michelle Jackson is the host of the podcast "Michelle is Money Hungry." Her goal is to transform people's financial lives through increased financial knowledge.

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Somer G. Anderson, Ph.D.

Reviewed by: Somer G. Anderson Ph.D., CPA

Accounting and Finance Professor

Somer G. Anderson has been working in the Accounting and Finance industries for over 20 years as a financial statement auditor, a finance manager in a large healthcare organization, and a Finance and Accounting professor at Maryville University.

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Chip Stapleton

Fact checked by: Chip Stapleton

Finance Manager

Chip Stapleton is a Series 7 and Series 66 license holder, CFA Level 1 exam holder, and currently holds a Life, Accident, and Health License in Indiana. He has 8 years of experience in finance, from financial planning and wealth management to corporate finance and FP&A.

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