WHAT THE BUSINESS SUCCESS SCAN DOES FOR YOU

What are reporting business credit tradelines?

Tradelines are an industry term used to describe accounts that appear on your credit reports.  Therefore any account that appears on your personal or business credit reports is considered tradeline. 

From a business credit perspective you should strive to have at least 10 reporting tradelines on your business credit reports. Of the 10 reporting tradelines you acquire 5 of those should be vendors offering products or services your business needs on Net Payment terms. The reason for this is to build a business credit history where lenders, vendors, and credit providers can determine how your business pays its bills. Just like on your personal credit reports if you only had one or two reporting tradelines there would not be enough credit history to accurately determine how great of a credit risk you might be. But with at least 10 reporting tradelines assessing your credit risk becomes a much easier and more accurate job.

To develop at least 10 business credit reporting tradelines you are going to need access to lenders who reports, credit providers who report, and vendors who report. Completing the Business Success Assessment will show you how many business credit reporting tradelines you have right now.

The assessment provides you access to:

• Over 4,000 business lenders and their programs,

• Hundreds of credit providers and their approval terms,

• More than 3,000 vendors who are extending credit terms for every product and service imaginable.

 

Getting 10 business credit reporting tradelines is the easy part. Knowing where to find them is the hard part. Once you complete the Business Success Assessment there is no more hard part. They are all available to you and easily searchable to find exactly what you need.