Using lesser known credit reporters! A simple “secret” way to set yourself apart from the rest of the pack:

As you know not all vendors report to business credit contrary to what D&B might hint to BEFORE you purchase their credit building product.

For those of you who are new at this: when you order from certain vendors they will report to business credit agencies and/or places like D&B (which is really a data collection agency). Now, not all vendors report. That is why places like Graingers, Uline, Quills etc (companies that do report) are popular among business credit builders. In fact they get a lot of business just because they report.

Keep in mind that many lesser known businesses also report.  There was a time when all one had to do was get an EIN number and they would call two of these vendors, get credit and after a month apply for unsecured credit cards. Times have changed.

Today you need to have more vendor credit and you have to wait longer. But there have been even more changes, subtle changes……

Part of lending is subjective. Say if I (or someone from my team) is looking at a business credit file. Nine times out of ten times we can tell if the company’s sole aim is to get quick credit. One of the first things that will make it obvious is that the vendors involved would be the usual: Graingers, Quills, Reliable etc. My point is if you are aiming for some great business credit without PG (personal credit guarantee) you cannot follow the crowd.

As credit becomes tighter, the need for credit is actually going up. This is mainly due to the vast number of undervalued assets available for sale. Restaurant owner are selling at a loss, real estate, Laundromats and pretty much most businesses under the sun that have their income cut in half while their debt service remains the same. So the demand for credit/financing is very high. As a result more and more people are getting into business credit building. As with any emerging trend the information out there is slightly outdated and in most cases very outdated.

If you are aiming for some credit than by all means follow the crowd. But if you want to fulfill the potential that business credit has than your approach should be different.

Recall that I mentioned the usual vendors (like Graingers etc) that most people use, initially you might have to work with them since they can be easy to get. The main point I want to stress is you just have to get some vendors on your credit that are not the usual, most common players. In the future I will add a more complete list of little known vendors that report to places like Experian, D&B and the like. One such place is Strategic Network Solutions and the other is AZ SNACKS, INC (see below).

You just have to understand that having a great business credit file is more than just some usual vendor credit yet it is NOT that hard to build. A business file that can not only get GREAT business credit but can “bring-up” a brand new corp that you make. That makes it much easier for the new corp to get credit. Now isn’t that interesting. Yes, there is just a lot more to business credit than meets the eye.

For now look into other companies that report on your business credit report, a good mix of vendors is a must. Your business should look real and active. In these times you need to have everything in order and than a little more, AN EDGE. Do not leave anything to chance. Remember your aim should be higher than the average person building business credit……you have better information on the subject, don’t you !

AZ SNACKS, INC http://www.azsnacks.net/

Aimanzul

www.ucc-1credit.com

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