6 figure BnB Academy
Lesson 3
Notes
Business Credit gives you leverage and advantages to scale that personal credit doesn't. In this module you will learn how to build business credit from scratch.
Action:
Pull your personal reports using this https://www.annualcreditreport.com/index.action
Lock your Personal Credit File *Before you start applying for business credit
Experian
Equifax
TransUnion
Start building your business credit tier by tier
Start with the steps below to get your business credit started quickly.
Dun and Bradstreet
The Nav Boost program jump starts your business credit scores for several business credit reporting agencies.
Naics (North American Industry Classification)
Providing short term term lodging in establishments
Naics 721191 - Bed & Breakfast Inns
Naics 721310- Rooming and Boarding Houses
Naics 541611- General management consulting services
Tradelines
We want to end up with at least 10 tradelines reporting at the end of 6 months
Net 30. Put at least $60-100 worth of items in your cart to report. At checkout, use the invoice me option.
Net 30. Duns number must be reporting first. Apply for this on your second round, after you have Nav or other items reporting otherwise... You will need to make a $100 and apply within 90 of that first purchase.
Net 30. Have Nav tradeline reporting before applying for this account.
Net 30. Have to be in business at least 30 days. $69 one time set up fee
Net 30. Membership based print & embroidery company. $69 annual membership fee.
Net 30. Digital marketing services including SEO, content writing, social media management, WordPress design and much more. Get up to $10,000 in buy now pay later, credit decision made in 2 days.
Net 30.
Net 30.
Net 30. Must be in business for at least 90 days. No derogatory or late payments. Approved tradelines between $800 - $5000. First min payment of $30. Annual membership fee $99
Net 30. Annual $99 membership fee
Check for net terms. Gas cards are normally net 7,15,20. And read terms to see if there is a statement fee.
Net 30. Professional Business plans, presentations, and pitch decks writing service. 50% due up front and 50% due before releasing the draft.
Net 30 Account. Setup Newegg Business account before applying for net 30 Terms.
Net 30 Account. No late payments, reporting business credit for at least 6 months. $49 annual fee upon approval.
Net 30. Applications were paused. Check to see if this card is still available to apply. Through Capital one for Business.
Multiple cards to available to apply for. Start with the pro
Net 30
Checkout using Bill to Net 30 at the bottom of the page.
Net 30 - Must have trade lines reporting on your experian report. To extend beyond a net 30 for extended payment terms must me a business prime member.
Amazon's Business Prime American Express Card allows you to choose 3% back or 60 day repayment terms.
American Express allows you to have up to 10 cards between personal and 3 different businesses. You can apply for several cards, but opening up different browser window, and submitting your applications at the same time. You will only get one credit pull when doing this.
Three different types of business accounts to choose from. Must have been in business at least 30 days to apply, no derogatory or delinquencies on credit profile.
Register your business with Wayfair professional first. You will be assigned an account representative. You can ask your rep about Business Credit options for your business. You can also apply for either the Credit Card with 2% back or the Flex account with 60 day payment terms. This card is issued by CapitalOne. Please note a PG may be required for this account.
6 Figure BNB Academy
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