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Kabbage Kam Webinars
#KabbageKam
3 Steps to Improve Your Business Credit Report:
Establish, Build & Monitor
Featuring Speaker From:
•Why business credit matters
•Where do credit scores come from
•What are your credit factors?
•Business credit and getting financing
•How to build your credit profile
Meet the speakers…
Andres Thomas
Customer Success
Kabbage, Inc.
MODERATOR
• Q&A session
Tim Graczewski
Vice President
Strategy & Business Development
Creditera
Tim Graczewski
Vice President
Strategy & Business Development
Creditera
Business has credit scores too
32
715
Why business credit
MATTERS
Where do credit scores come from
The National Credit Bureaus
COMMERCIAL BUREAU
SCORE
PROVIDER
Personal & Business
Many different scores. (Too many?)
0	
  -­‐ 49
50	
  -­‐ 79
80	
  -­‐ 100
Low
Medium
High
Personal Credit
0 - 100
Business Credit
0 - 300
350 - 850
VantageScore
Intelliscore
SBSS
Paydex
350 - 850
Reporting lines - How bureaus populate
business reports
Register your business
as a legal entity
R
Public records Info is sent by lenders
and business creditors
What are your
credit factors?
Business Credit Score
Utilization
Business Data
Payment History
Length of History
Debt to Income
Factors that impact business credit
3 Steps to Improve Your Business Credit Report: Establish, Build & Monitor
Do you
have a
thin file?
Major differences between personal and
business credit
Difference in scores
1
No FCRA protection for
business credit2
3 Business reports are more
likely to have errors
4 Payments
Why you should care about
your business credit
How is business credit used
Business Credit
Government & Enterprise
ContractsBusiness Financing
Insurance Rates
Potential Business
Partners
Business Credit Cards
Customer Trust
Equipment
Leasing
Commercial
Real Estate
Trade Credit
(Suppliers & Vendors)
Business credit and getting financing
Insufficient financing: 2nd
most common reason for
business failure
- SBA
Most small business
owners rely solely on
personal funds and
credit for financing
72%
GET DENIED!
Business credit and
getting financing
Business credit and
getting financing
A business can access
10 to 100 times
more credit
than a consumer
A business will use credit at
10 times the rate of a
consumer
Protect Yourself!
Get instant alerts via email or text
How to build your credit profile
3
1
2
4
5
Get Set Up Correctly:
Get your current business and
personal scores (2 min)
Incorporate your company
(2 days)
Establish EIN (1 hour)
Open a business bank account
• Open business credit card
• Get your key
vendors/suppliers reporting
Get a DUNS number (optional)
Establish credit lines for your
Business
6
3
1
2
4
Separate business from personal
Business bank account - ensure contact
details match business reports
Charge business expenses to your
business
• Company credit cards
• Use accounting software
Business insurance
Build business credit
How to build your credit profile
3
1
2
4
5
Check regularly
No thin files!
• Dispute if necessary
Make sure credit and trade lines are
reported
• Get at least 4
Pay early if you can. Never be late
Plan your future
Business credit and
getting financing
Why we created
Kabbage Kam Webinars
#KabbageKam
Get Small Business Loans Content
Subscribe to Kabbage’s Blog:
Kabbage Kam Webinars
#KabbageKam
From @KabbageInc
Thank you!

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3 Steps to Improve Your Business Credit Report: Establish, Build & Monitor

  • 1. Kabbage Kam Webinars #KabbageKam 3 Steps to Improve Your Business Credit Report: Establish, Build & Monitor Featuring Speaker From:
  • 2. •Why business credit matters •Where do credit scores come from •What are your credit factors? •Business credit and getting financing •How to build your credit profile Meet the speakers… Andres Thomas Customer Success Kabbage, Inc. MODERATOR • Q&A session Tim Graczewski Vice President Strategy & Business Development Creditera
  • 3. Tim Graczewski Vice President Strategy & Business Development Creditera
  • 4. Business has credit scores too 32 715
  • 6. Where do credit scores come from The National Credit Bureaus COMMERCIAL BUREAU SCORE PROVIDER Personal & Business
  • 7. Many different scores. (Too many?) 0  -­‐ 49 50  -­‐ 79 80  -­‐ 100 Low Medium High Personal Credit 0 - 100 Business Credit 0 - 300 350 - 850 VantageScore Intelliscore SBSS Paydex 350 - 850
  • 8. Reporting lines - How bureaus populate business reports Register your business as a legal entity R Public records Info is sent by lenders and business creditors
  • 9. What are your credit factors? Business Credit Score Utilization Business Data Payment History Length of History Debt to Income
  • 10. Factors that impact business credit
  • 13. Major differences between personal and business credit Difference in scores 1 No FCRA protection for business credit2 3 Business reports are more likely to have errors 4 Payments
  • 14. Why you should care about your business credit
  • 15. How is business credit used Business Credit Government & Enterprise ContractsBusiness Financing Insurance Rates Potential Business Partners Business Credit Cards Customer Trust Equipment Leasing Commercial Real Estate Trade Credit (Suppliers & Vendors)
  • 16. Business credit and getting financing Insufficient financing: 2nd most common reason for business failure - SBA Most small business owners rely solely on personal funds and credit for financing 72% GET DENIED!
  • 18. Business credit and getting financing A business can access 10 to 100 times more credit than a consumer A business will use credit at 10 times the rate of a consumer
  • 20. Get instant alerts via email or text
  • 21. How to build your credit profile 3 1 2 4 5 Get Set Up Correctly: Get your current business and personal scores (2 min) Incorporate your company (2 days) Establish EIN (1 hour) Open a business bank account • Open business credit card • Get your key vendors/suppliers reporting Get a DUNS number (optional) Establish credit lines for your Business 6
  • 22. 3 1 2 4 Separate business from personal Business bank account - ensure contact details match business reports Charge business expenses to your business • Company credit cards • Use accounting software Business insurance Build business credit How to build your credit profile
  • 23. 3 1 2 4 5 Check regularly No thin files! • Dispute if necessary Make sure credit and trade lines are reported • Get at least 4 Pay early if you can. Never be late Plan your future Business credit and getting financing
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  • 26. Kabbage Kam Webinars #KabbageKam From @KabbageInc Thank you!