Here’s a Quick Way to Build Business Credit

COVID-19 turned the economy on its head. Now, with things starting to open back up, businesses are wondering if they are even going to be able to make it. Most are starting to see they need to have business credit if they don’t already. But, is there a quick way to build business credit before it’s too late?

Find Out How To Get Funds Fast While Utilizing this Quick Way to Build Business Credit

The truth is, you can’t snap your fingers. It’s a process, and you have to work through it. However, knowing why you need business credit and how to work that process helps. While it may not be a quick way to build business credit in the terms of a great score magically appearing overnight, it is definitely quicker than not following the process at all.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit, even in a recession.

Quick Way to Build Business Credit: Business Credit vs Personal Credit

The simplest way to explain it is that business credit is like your personal credit, but it is in the name of your business. That’s not to say there are no other differences, but that is the gist. Basically, if you do things right, you have a totally separate business credit report that is in the name of your business, not your name personally. Your personal accounts do not show up on this report, and your business accounts, that are on this report, do not show up on your personal credit report.

Business credit reports come from Dun & Bradstreet, Experian Business, and Equifax Business. When there is a problem with your business credit, it does not affect your ability to get funding based on your personal credit. Conversely, problems on your personal credit do not affect your ability to get funding for your business based solely on your business credit.

Quick Way to Build Business Credit: Why Is Business Credit Necessary?

Business credit is necessary for a number of reasons. The most obvious is to help you get funding for your business. However, it also helps protect your personal credit. If your business accounts are reporting to your personal credit report, you are going to see some debt-credit ratio issues. This is the ratio of your debt in relation to your available credit. Since business expenses are generally higher than personal expenses, you’re likely to run balances at or near your limits consistently, which will have a negative affect on your personal credit score.

Business credit typically makes you eligible for higher limit cards that are better suited for large business expenditures. It also keeps these large expenditures off your personal cards and personal credit report.

Quick Way to Build Business Credit: There Are No Magic Beans

So, now you understand why you need business credit, but you need to know how to build it in a crazy economy, and fast. The thing is, there are no magic beans when it comes to a quick way to build business credit. Remember what I said. A great business credit score will not appear magically overnight like a beanstalk. You do have to actually work all the way through the process. However, there are a few shortcuts you can try once your business is set up properly. More on how to do that later.

Quick Way to Build Business Credit: How to Make it Faster

Okay, so let’s assume for a minute that you already have your business set up in a way that it is a separate entity from yourself. This is how you get accounts reporting to your business credit report rather than your personal report. If you’ve done that, there are a few things you can do to get the ball rolling, and give it a little push even.

Ask Current Vendors for Credit

The first step is to ask those vendors with which you already have a relationship to extend credit. Since you are already working with them, they may be more willing to do so without requiring a credit check. Be sure to ask if they will report payments to the business credit reporting agencies. If they will not, then it won’t matter if they give you credit or not. Accounts not reported do not help build your credit score.

Ask Utilities to Report

You already pay things like rent, telephone, internet, electricity, and water bills on a regular basis. You can ask providers to report those payments to the business credit reporting agencies. They do not have to do it. However, they might, and it can only help build your score faster.

Establish Tradelines With Starter Vendors

After those two things, the next step is to open tradelines with starter vendors. These are vendors that offer net 30 invoices without any type of credit check, and then they will report your payments on those invoices to the business credit reporting agencies.

The kicker is starter vendors do not usually market themselves as such. This makes them a little hard to find without some expert guidance. As a general rule, you need to have 3 to 5 vendor tradelines reporting to get a good solid start to your business credit score. Here are a few of the easiest to get started with.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit, even in a recession.

Crown Office Supplies

Crown Office Supplies offers paper and other office supplies. They report to all three of the major business credit reporting agencies, which of course include D & B, Experian, and Equifax. It can be hard to find vendors which report to Equifax, so getting credit with Crown is a good move.

To qualify, you will need to be an entity in good standing with Secretary of State and an EIN number with IRS. A business address that matches everywhere (both online and offline), a D-U-N-S number, a business license (if applicable), as well as a business bank account are all necessary. Your business must be at least 60 days old. There is also a membership fee of $99 annually upon approval.

Uline

Uline sells shipping, packing, and industrial supplies. They report to Dun & Bradstreet as well. This means, you guessed it, you have to have a D-U-N-S number.

In addition, they ask for 2 references and a bank reference. The first few orders might need to be paid in advance to get approval for Net 30 terms.

Grainger Industrial Supply

Grainger sells power tools, pumps, hardware and other things. In addition, they can handle maintenance of your auto fleet. You need a business license and EIN to quality, as well as a D-U-N-S number.

After you pay on several tradeline accounts that report for a while, you should have a solid foundation to start applying for other types of business credit. Store cards are the easiest to get first and continue building your score. Next are fleet cards, and then finally, the regular cards that are not limited by where they can be used or what they can be used to purchase.

Quick Way to Build Business Credit: What to Do In the Meantime?

So, let’s say you start this process, but you need funds right now. What can you do? The credit line hybrid may be just the answer. You can get approval with personal credit that is lower than what most traditional lenders require, and if you are set up properly it will report to the business credit reporting agencies and help build your business credit even faster.

It allows you to fund your business without putting up collateral, and you only pay back what you use.

Credit Line Hybrid: Qualifications?

What does it take to qualify? I’m going to tell you, but don’t stop reading if you don’t meet all of the requirements. There are ways around some of them.

First, your personal credit score should be at least 685. Also, you can’t have any liens, judgments, bankruptcies or late payments. Furthermore, in the past 6 months you should have less than 5 credit inquiries, and you should have less than a 45% balance on all business and personal credit cards. It is preferred that you already have established business credit, but not necessarily required.

Are you thinking there is no way you qualify? Stop thinking that. If you do not meet all of the requirements, you can take on a credit partner that does. Many business owners work with a friend or relative to fund their business. If a relative or a friend meets all of these requirements, they can partner with you to allow you access funding, but you still get the benefits.

Quick Way to Build Business Credit: Credit Line Hybrid Benefits

There are many benefits to using a credit line hybrid. First, it is unsecured, meaning you do not have to have any collateral to put up. Next, you don’t have to provide any bank statements or financials.

Even better, typical approval is up to 5x that of the highest credit limit on the personal credit report, and often you can get interest rates as low as 0% for the first few months. This allows you to put that savings back into your business.

The process is pretty fast, especially with a qualified expert to walk you through it. Also, with the approval for multiple credit cards, competition is created. This makes it easier, and likely even if you handle the credit responsibly, that you can get interest rates lowered and limits raised every few months.

The credit line hybrid is a fast way to get cash while working on a quick way to build business credit.

Quick Way to Build Business Credit: What’s This About Setting Up?

Remember how I said earlier all of this only works if your business is set up properly. That’s because unless your business is set up to be an entity separate from you as the owner that is fundable all on its own, your accounts will report to your personal credit. There will be no separate business credit. How do you accomplish this separation?

Separate Contact Information

The first step is to make sure your business has its own phone number, fax number, and address. That doesn’t mean you have to get a separate phone line, or even a separate location. You do not even have to have a fax machine. You can get a business number that will ring to your personal phone and a virtual address online quickly and easily.

Apply for an EIN

The next thing you need to do is get an EIN for your business. This is an identifying number for your business that works in a way similar to how your SSN works for you personally. You can get one for free from the IRS.

You Have to Incorporate

Incorporating your business as an LLC, S-corp, or corporation is necessary to fundability. It lends credence to your business as one that is legitimate and offers some protection from liability. It also solidifies your business as a separate entity from yourself.

Business Bank Account

You have to open a separate, dedicated business bank account. There are a few reasons for this. First, it will help you keep track of business finances. It will also help you keep them separate from personal finances for tax purposes. The big one for building business credit is, you got it, it separates your business from you as the owner.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit, even in a recession.

Licenses

If a business does not have all the necessary licenses it needs to run, red flags are going to fly up all over the place. Do the research you need to do to ensure you have all of the licenses necessary to legitimately run your business at the federal, state, and local levels.

Website

These days, you do not exist if you do not have a website. However, having a poorly put together website can be even worse. It is the first impression you make on a lot of people. Spend the time and money necessary to ensure your website is professionally designed and works well. Pay for hosting too. Don’t use a free hosting service. Furthermore, your business needs a dedicated business email address. Make sure it has the same URL as your website. Don’t use a free service such as Yahoo or Gmail.

D-U-N-S Number

Lastly, you have to have a D-U-N-S Number. It’s imperative. Dun & Bradstreet is hands down the largest and most commonly used business credit reporting agency. You cannot have a score with them if you do not have a D-U-N-S number. It’s free on their website.

Remember Business Credit Is Just One Piece of Fundability

There is so much more to fundability than business credit. It is a tangled web indeed. If you are looking for a quick way to build business credit, keep this in mind. Furthermore, if your business isn’t set up properly, nothing else you do to build fundability or business credit will matter. Get that done today.

The post Here’s a Quick Way to Build Business Credit appeared first on Credit Suite.

How to Build Your Personal Brand by Being Everywhere

The Internet has given us one important opportunity: Become a brand. These days we have self-educated experts, self-published authors, self-created celebrities, none of which was imaginable a couple of decades ago when there was no …

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How to Build Your Personal Brand by Being Everywhere

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Check Out 5 Great Recession Vendor Accounts To Build Your Business Credit

The novel coronavirus has changed our economy. And it continues to do so. You may be thinking you cannot qualify for any great recession vendor accounts to build your business credit. But you can! Let us show you how to get the credit and cash your business needs – now, more than ever.

Check Out 5 Great Recession Vendor Accounts to Build Your Business Credit

Are you looking for 5 great recession vendor accounts that build your business credit? We’ve got them right here. Get the easiest business credit card!

When you are first starting to build business credit, your first step should be vendor or trade credit. You want to get into good credit habits. So this is everything from not borrowing too much, to paying your debts back on time. And it includes staying on good terms with your sources of credit.

You will need to start a business credit profile and score with what are called starter vendors. Starter vendors are ones who will give your small business initial credit. So they will do so even if your company has no credit, no score, or no trade lines.

Note that most stores like Staples will not give you initial starter credit, so don’t even try applying with them.

Here are 5 great recession business credit vendors that build your business credit. You can get a starter business credit card. This is the vendor credit tier, and these are our top 5 business credit cards for new businesses.

Learn more here and weather any recession. Get started toward getting up to 7 vendors that build your business credit.

Great Recession Vendor Accounts that Build Your Business Credit: 1. Uline

You can find Uline’s website here. They sell shipping, packing and industrial supplies, and they report to Dun & Bradstreet and Experian. You must have a D-U-N-S number and an EIN before starting with them. They will ask for your business bank information. Your business address must be uniform everywhere. You need for an order to be $50 or more before they’ll report it. Your first few orders might need to be prepaid initially so your company can get approved for Net 30 terms.

Qualifying

You need the following to qualify:

Entity in good standing with Secretary of State
EIN number with IRS
Business address (matching everywhere)
D-U-N-S number
Business License (if applicable)
Business Bank account

Apply with Them

Here’s how to apply with them:

Add an item to your shopping cart
Go to checkout
Select to Open an Account
Select to be invoiced

Great Recession Vendor Accounts that Build Your Business Credit: 2. Crown Office Supplies

Crown Office Supplies is an additional true starter vendor. They sell a variety of office supplies and take helping clients seriously. They state, “just starting your business, or maybe have an existing business, but you have a question regarding office supplies… we are here to help!” And they report to Dun and Bradstreet, Experian, and Equifax.

There is a $99.00 yearly fee, though they do report that fee to the business credit reporting bureaus. For other purchases to report, the purchase must be at least $30.00. Terms are Net 30.

Qualifying

Here’s how to qualify:Your business entity must be in good standing with the applicable Secretary of State
You must have an EIN and a D-U-N-S number
Business address (it has to match everywhere)
Business license (if applicable)A business bank account
Corporation must be at least 60 days old
Membership fee is $99 per year upon approval

Apply with Them

Apply online.

Great Recession Vendor Accounts that Build Your Business Credit: 3. Grainger Industrial Supply

You can find Grainger Industrial Supply here. They sell hardware, power tools, pumps and more. They also do fleet maintenance. And they report to Dun & Bradstreet.

Qualifying

To qualify, you need the following:

A business license (if applicable)
An EIN number
A business address matching everywhere
A business bank account
A DUNS number from Dun & Bradstreet
Business entity in good standing with the applicable Secretary of State

If your business doesn’t have an established credit, they will require additional documents like accounts payable, income statement, balance sheets, and the like.

Apply with Them

Apply online or over the phone.

Great Recession Vendor Accounts that Build Your Business Credit: 4. Supply Works

Supply Works is a great recession vendor. Visit them at: www.supplyworks.com. They are a part of the Home Depot. They offer integrated facility management solutions. Virtual addresses are not accepted. They report to Experian. Terms are Net 30.

Qualifying

To qualify, you need to have:

An entity in good standing with Secretary of State
EIN number with IRS
Business address (it must match everywhere
D-U-N-S number
Business license (if applicable)
A business bank account

Apply with Them

Apply online or over the phone.

Find out why so many companies are using this to weather any recession and improve their business credit – and check out even more vendors (7!) to help you build business credit.

Great Recession Vendor Accounts that Build Your Business Credit: 5. Strategic Network Solutions

Check out Strategic Network Solutions. Visit them at: https://stntsol.com. They offer technology training and tech support. A credit limit will start at $1000 for new businesses. It increases by an $500 increment if balances are paid in full and on time. They report to Experian and Credit Safe.

Qualifying

In order to qualify for business credit with Strategic Network solutions, you will need the following:

An EIN
To have your business entity squared away (corporation, partnership, LLC, etc.) and in good standing with the applicable Secretary of State
Business address (matching everywhere)
Business license (if applicable)
A D-U-N-S number
A business bank account

Apply with Them

Apply online.

Great Recession Vendor Accounts that Build Your Business Credit: Bonus: Marathon

Marathon Petroleum Company provides transportation fuels, asphalt, and specialty products throughout the United States. Visit them at: www.marathonbrand.com. Their comprehensive product line supports commercial, industrial, and retail operations. They report to: D&B, Experian, and Equifax. Terms are Net 22.

You can give a $500 deposit instead of using a personal guarantee if you have been in business for less than a year.

Qualifying

To qualify, you need:

An EIN
To have your business entity squared away and in good standing with the applicable Secretary of State
Business address (matching everywhere)
Business license (if applicable)
A D-U-N-S number
A business bank account

Apply with Them

Apply online.

Building Business Credit – Going Beyond 5 Great Recession Vendor Accounts That Build Your Business Credit

Getting vendor accounts for business credit means that you are on your way to getting good business credit. Get three or more vendor accounts. You want them all to be reporting with at least one bigger business credit bureau. And then you can start trying to get store credit.

Retail Credit

Once there are three or more vendor trade accounts reporting to at least one of the CRAs, then move onto revolving store credit. These are businesses such as Office Depot and Staples. These companies have even more of the goods you need.

You will always have to use your Social Security Number and date of birth for verification purposes. But use the small business’s EIN on these credit applications when it comes to credit check services small business.

Fleet Credit

Are there more accounts reporting? Then move to fleet credit. These are service providers such as BP and Conoco. Use this credit to buy, fix, and take care of vehicles.

Use your Social Security Number and date of birth for verification purposes. But make certain to apply using the company’s EIN for credit checks.

Cash Credit

Have you been sensibly managing the credit you’ve gotten up to this point? Then progress to cash credit. These are service providers like Visa and MasterCard.

Use your Social Security Number and date of birth for verification purposes. And apply using the company’s EIN for credit checks.

These are typically MasterCard credit cards. If you have even more trade accounts reporting, then these are attainable.

If it were all left up to you, how would you improve weathering any recession and working with 7 vendors to help you build business credit?

Monitor Your Business Credit

Know what is happening with your credit. Make sure it is being reported and deal with any inaccuracies ASAP. Get in the habit of taking a look at credit reports; so dig into the details, and not just the scores.

So we can help you monitor business credit at Experian and D&B for 90% less than it would cost you at the business credit reporting agencies.

Update The Details

Update the details if there are mistakes or the information is incomplete. So at D&B, you can do this at: https://iupdate.dnb.com/iUpdate/viewiUpdateHome.htm.

And at Experian, go to: http://www.experian.com/small-business/business-credit-information.jsp.

Finally, for Equifax, go to: http://www.equifax.com/business/small-business.

Challenging Mistakes

What’s all this monitoring for? So it’s to challenge any errors in your records. Errors in your credit report(s) can be fixed. But the CRAs normally want you to dispute in a particular way.

Get your PAYDEX report for DNB small business at: http://www.dnb.com/about-us/our-data.html.

You can get your company’s Experian report at: http://www.businesscreditfacts.com/pdp.aspx?pg=SearchForm.

And get your Equifax business credit report at: http://www.equifax.com/business/credit-information.

Disputes

Disputing credit report errors typically means you send a paper letter with copies of any evidence of payment with it. So these are documents like receipts and cancelled checks. But never mail the originals. Always send copies and keep the original copies.

Disputing credit report errors also means you precisely spell out any charges you dispute. Make your dispute letter as understandable as possible. Be specific about the concerns with your report. Use certified mail so that you will have proof that you sent in your dispute.

Dispute your or your company’s Equifax report by following the instructions here: http://www.equifax.com/small-business-faqs/#Dispute-FAQs.

You can dispute errors on your or your business’s Experian report by following the directions here: http://www.experian.com/small-business/business-credit-information.jsp.

And D&B’s PAYDEX Customer Service telephone number is here: https://www.dandb.com/glossary/paydex/, to help you with disputes. It’s the only way they’ll let you dispute a DNB.com credit report.

Takeaways for 5 Great Recession Vendor Accounts That Build Your Business Credit

Always use credit responsibly! Don’t borrow more than what you can pay off. So monitor balances and deadlines for payments. Paying off punctually and in full will do more to increase business credit scores than nearly anything else.

Establishing small business credit pays. Great business credit scores help a company get loans. Your lender knows the company can pay its financial obligations. Because they know the small business is authentic. The company’s EIN links to high scores and loan providers won’t feel the need to require a personal guarantee.

And soon you’ll be able to move onto the top ten business credit cards – and beyond! Because no matter how it feels right now, the COVID-19 situation and recession will not last forever.

Discover this new way to weather any recession and find 7 (!) vendors to help you build business credit.

The post Check Out 5 Great Recession Vendor Accounts To Build Your Business Credit appeared first on Credit Suite.

How To Build A Chatbot For E-commerce

A chatbot for e-commerce gives you the power to engage with new, existing, and potential customers with real-time, text-style messaging, without actually providing (and paying for!) a live person.

Through carefully scripted conversations, your brand can provide your customer base with support, information, and resources 24/7.

Like any conversation, chatbots are a two-way street —- and there are benefits for both brands and users.

Customers (or prospective costumes) can find information quickly, without having to wait for a human. And you can draw customers through the sales funnel, without interacting with them directly.

Chatbots leverage artificial intelligence more than any other technology, and can help you:

Identify and nurture qualified leads
Provide customer service and support
Interact with past customers, including providing shipping and return information
Gather feedback on the customer experience
Recommend related products to increase sales

If you are looking for a way to build a real relationship with your audience, improve customer service, and even increase sales, chatbots should be high on your list of priorities.

Today, I will explain exactly how to build and launch a chatbot for your e-commerce store from start to finish.

The good news is, it’s likely a lot easier than you think!

What Is the Goal of Your Ecommerce Chatbot?

Getting clear on your goals will help you avoid distractions and stay laser-focused on results.

Chatbots for e-commerce are a powerful sales and marketing tool. So before you get started, get a handle on what you want your chatbot to do for your business.

Here are a few more features to consider before digging into building your chatbot:

Where do you want the chatbot to be located?
What other platforms, such as social media, do you want it connected to?
What kind of information do you want to supply to your customers?
What are your customers looking for when they interact with your chatbot?
Do you want users to be able to request and connect with a live person?
How will your chatbot fit into your overall marketing strategy?

Getting a handle on what you want, at least initially, will help you build your chatbot efficiently, without getting distracted by the myriad of things chatbots can do. (Seriously, they can do a ton.)

I highly recommend considering the power of Facebook Messenger when it comes to chatbots. Well over a billion users are using Facebook Messenger every month, so interacting with your brand can be seamless.

Messenger can give you valuable user insights, such as their name and location, that can help you help them find what they want – and ultimately move them through your sales funnel.

One of the most useful tools for launching a Facebook messenger chatbot is Manychat, which we’ll cover below.

Building a Chatbot

Yes, it’s possible to plug-in Facebook messenger directly into your website. Still, a third-party chatbot program gives you the power to set up automated conversations through scripts, answering popular questions, or assisting customers, without human interaction.

Every program has its own interface and step-by-step plan to actually build your bot, so instructions may vary.

Not only can you build a chatbot for your e-commerce but customers can also subscribe to your content using that platform, so when you publish a blog post with a sale or new product, it’ll go right to their Facebook messenger app.

How to Set Up a Chatbot

Choose which platform you want to work with. I’ll walk you through Manychat, but there are several other options, including Chatfuel, Botsify, and Mobile Monkey. I’ve chosen Manychat for an example.
Log in from their website, using your Facebook credentials.
Give the chatbot program access to your Facebook page.
Provide some basic information about your company and your goals.

Now, it’s time to start creating the chatbot’s content, including broadcasts (like an email blast) and conversation flows — this is complex, but you only have to set it up once.

On Manychat, go to “Automation” to see your options for various flows or sequences.

Building a chatbot for e-commerce comes down to writing scripts that engage, educate, and serve your customers.

You can start editing these default messages, such as the Welcome message to include your brand information and a warm greeting.

Now it’s time to build flows that simulate real conversation with your customers, allowing them to interact with your brand.

To build flows in Manychat, the best option is the Flow Builder. This is available once you open and name a flow.

You can stay in Basic Builder mode, or click “Go To Flow Builder” in the upper right-hand corner.

This will give you a visual representation of your conversation flow, which is really helpful for making sure you don’t miss anything. Keep adding dynamic steps to simulate the conversation you want to walk your visitors through.

How to Build Flows

Add Trigger. What’s going to launch this conversation? When you click “Add Trigger,” you’ll be given dozens of options, from subscriber opt-ins to keyword triggers to pop-ups on the side of the screen. Choose the one that makes sense for the goal of this flow. How will the customer start this conversation?
Add Text. It’s time to start the conversation. A warm “Hello, How can I help you?” is good. An introduction to your chatbot persona or your brand is also an excellent place to start.
Keep going. The conversation has only begun! Add images or galleries of choices. You can choose “User Input” in the Manychat Pro version, to allow customers to choose from various options in responding back with you. Here’s a quick look at a few of the button options you’ll have for each message.

Consider looking at your customer service logs and planning conversations based on the most common questions customers or prospects ask.

6 Tips for Building an Effective Chatbot Script

Your script is the most critical part of building an effective chatbot. Here are a few tips to ensure your script is on point every time.

Start with a welcome message: Remember you are simulating a conversation. If a real person just walked up to you and started talking about a sale, it would be a little weird. Start with a “hello” and maybe an offer to help or another soft opening.
Provide a Main menu: Provide this option early in the sequence to help customers find what they need quickly and allow them to return to the menu if they need to. Use a gallery view and include pictures and links to basic information on your page.
Use personalized text tags whenever feasible: If you can use a merge tag to fill in the customer’s name, or other personalizations, you can sound more human. But be careful, because overdoing the personalization can come across as fake.
Think like the user: As you are planning the conversational flow of your chatbot, think of it as a flow chart, with various options leading to other options. If they say this, you say that. And so on. However, don’t lose sight of your ultimate goal, which is to close a sale or prompt a sign-up. Ensure each path leads to a goal or to another engagement, such as subscribing or talking to a live person.
Include a Buy Now option: If your goal is to drive sales, a buy button will make it easy for customers to convert. Allowing them to purchase right there in Facebook messenger is key.
Get the Unsubscribe option: Give users a way to opt-out of communication, either through an Unsubscribe button or a keyword such as “stop.” Provide the instructions early in the communication.

Should I Use E-commerce Chatbot Templates?

You can use templates designed to help you set up flows even faster. These templates can take some of the guesswork out of building the chatbot script.

Relying on the templates is tempting — it could save you so much time!

But be careful. Relying too heavily on templates can make your conversations feel fake and stilted. I recommend using them carefully — but remember that you know your customers best.

Consider reviewing Abandoned Cart templates and Out of Stock templates for e-commerce specifically.

These can help you drive sales to an already interested crowd.

Here’s what ManyChat’s Starter template looks like in a simulation:

Remember to use these templates as starting points. Dive in the customization options, from images and text to unique flows, to ensure the interaction sounds natural and is authentic to your brand.

Make every update you need to make sure you don’t sound like someone else or too robotic.

Building In Natural Characteristics

When we text, we move at a certain pace, as fast as our fingers or thumbs can type. It’s important that your chatbot move with the same kind of rhythm, otherwise it can become too robotic or pushy.

Here are a few tips for making your chatbot feel more natural:

Keep messages short. Use a string of two or three messages, rather than a long paragraph of text that will visually overwhelm the customer.
Create pauses between each message. This allows for those familiar three dots to animate, giving customers breathing space in between texts and simulating a more human interaction.
Attach links and photos in ways that feel human, rather than a barrage of content. It should feel like “Here this is probably what you’re looking for,” rather than “Here is our entire menu to choose from. See anything you like?”

Testing Your Chatbot for E-commerce

As you start setting up conversations in your e-commerce chatbot, you’re going to want to test the chatbot to make sure conversations feel natural and interactions are working the way you expect them to. There are a few ways you can test your flows to make sure they are working:

Set Up A Test Facebook Page

Create a new Facebook page to use internally for development. Then link your chatbot program account to that page, in addition to your brand’s pages.

Do all your development of flows, broadcasts, and other experiments in that test page.

Then you can log in to Facebook messenger and see them live for yourself and ask other team members to simulate customer interaction and make sure things look and function properly.

Make Use Of The Program’s Live Visuals

If it’s available, try the live visual simulator so you can see how your flows will play out in real-time. Watch these with scrutiny and a customer’s eye. Are things happening an even pace? Does it feel natural or like a sales blast?

Integrating Your E-Commerce Chatbot

One of the great benefits of using a chatbot program is leveraging the widget tool and embedding your chatbot on your website or other online locations.

Where can you lead customers to interact with your chatbot? Here are just a few ideas:

A pop-up box on your site, asking customers if they need help
A subscribe button to receive your newsletter or sales blasts through messenger
A sign-up for events, virtual or in-person

These “triggers” can set up conversations with users, allowing them to opt-in to your chatbot and providing you with customer data.

Available programs offer a range of widgets or buttons with code snippets you can place in the code of your website.

Tutorials are available, but if you aren’t sure, hiring a web developer for this quick project or hourly may be the way to go with this.

Conclusion

Building a chatbot for e-commerce can take your sales to the next level.

Not only can it give you access to highly qualified leads, but also allows you to position yourself as a resource and knowledge base. With an e-commerce chatbot, you can build rapport with your customers and ultimately nurture loyalty.

Using one of the built-in systems, you’re just a few clicks away from starting to engage your customers, giving them valuable information, and driving sales.

As you’re building, don’t lose sight of your brand messaging and voice. Stay on track with who you are as a company, and you’ll be on your way to building a chatbot that sounds authentic to your unique point of view.

How can you use a chatbot for your e-commerce site?

The post How To Build A Chatbot For E-commerce appeared first on Neil Patel.

Ubersuggest Chrome Extension: The Ultimate Link Build Tool

Over the next few months, you are going to see a lot of updates in Ubersuggest, including new features.

But before I dive into what I’m going to release soon, let’s first talk about the new Chrome extension.

If you haven’t installed it, make sure you go and do so now…

No more Neil’s face

The biggest complaint we got about the extension was “my face” being in the search results.

You know, that speech bubble that looked something like this…

So, I removed it.

I know you don’t like it based on the reviews, so I tried to leave it in as long as possible because it’s branding.

Indirectly it keeps me and my agency top of mine so hopefully, it would eventually drive business.

Link building

You may have noticed that there is a little “U” symbol within your browser bar once you install the extension.

If you don’t see it, just click on the extension icon…

And then click pin next to Ubersuggest…

Now whenever you visit a site (other than Google) you can click on the “U” to see data.

But what’s new is we have added link data. So when you click on “Backlinks” you’ll see link data on any given site.

You can see the domain score (our version of authority), the number of backlinks, referring domains and organic monthly traffic a website receives.

You’ll even see a chart of link growth (or decline) over time.

And as you scroll down you’ll even see more metrics…

The chart above breaks down how many new and lost links you are getting on a daily basis.

And beneath that you’ll see a list of links pointing to any given site. You can then search for a specific link using the search box or you can use the filtering options.

Keyword gaps

I know that I mentioned a while ago that I am releasing a feature that show competitive domains and gives you an overview of the keywords your competition ranks for that you don’t.

That way you can find more opportunities to go after if you want more traffic.

That’s still coming out soon. We are roughly a month or so away from releasing it. 🙂

But that’s not all

The biggest thing my team and I have been working on is data quality.

From fresher link index to even a bigger link index.

Or when you put in a URL it would be great to have even more accurate traffic estimations.

By the end of the year you’ll see drastic improvement in this. It’s our biggest focus.

And then comes a faster application

The last thing on our roadmap this year is speed improvement.

We have so much data in Ubersuggest that sometimes reports take longer to load than you would like.

We have been refactoring our code, which should fix this soon. So now reports will load faster, which is really important if you use Ubersuggest on a mobile device.

Conclusion

I hope you try out the new Ubersuggest extension. It’s easy to use and it offers more free data than any other Chrome extension.

In addition to the link feature, there will also be some other Chrome extension features that we are adding soon, but I have to save something as a surprise. 😉

Plus, there will also be a few other features that you’ll also see in the Ubersuggest app that is coming out this year that I didn’t mention above either.

So, what else would you like to see in Ubersuggest?

The post Ubersuggest Chrome Extension: The Ultimate Link Build Tool appeared first on Neil Patel.

Bad Credit in a Recession? You can get Business Cards and Build Credit

Do you have bad credit in a recession? You can get business cards and build credit – so don’t worry. Yes, even in a bad economy. And this is true no matter what happens with COVID-19.

Don’t Let Bad Credit in a Recession Get You Down

Per the SBA, small business credit card limits are a whopping 10 – 100 times that of personal credit cards!

This reveals you can get a lot more cash with business credit. And it also means you can have personal credit cards at stores. So you would now have an added card at the same retail stores for your company.

And you will not need collateral, cash flow, or financials in order to get small business credit.

Credit Card Benefits

Benefits can vary. So, make certain to pick the perk you like from this choice of options.

Bad Credit in a Recession? Get Trustworthy Credit Cards for Fair to Poor Credit, Not Calling for a Personal Guarantee

Brex Card for Startups

Check out the Brex Card for Startups. It has no yearly fee.

You will not need to provide your Social Security number to apply. And you will not need to supply a personal guarantee. They will take your EIN.

Nonetheless, they do not accept every industry.

Likewise, there are some industries they will not work with, as well as others where they want more documentation. For a list, go here: https://brex.com/legal/prohibited_activities/.

To determine creditworthiness, Brex checks a business’s cash balance, spending patterns, and investors.

You can get 7x points on rideshare. Get 4x on Brex Travel. Likewise, get triple points on restaurants. And get double points on recurring software payments. Get 1x points on everything else.

You can have bad credit scores (even a 300 FICO) to qualify.

Find it here: https://brex.com/lp/startups-higher-limits/

Establish business credit fast and beat the recession with our research-backed guide to 12 business credit cards and lines.

Bad Credit in a Recession? Get Corporate Credit Cards for Fair Credit Scores

Capital One® Spark® Classic for Business

Take a look at the Capital One® Spark® Classic for Business. It has no annual fee. There is no introductory APR offer. The regular APR is a variable 24.49%. You can get unlimited 1% cash back on every purchase for your company, with no minimum to redeem.

While this card is within reach if you have fair credit scores, beware of the APR. However if you can pay on time, and in full, then it is a bargain.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/

Exceptional Business Credit Cards with Flexible Financing Credit Cards – Check Out Your Options!

The Plum Card® from American Express

Have a look at the Plum Card® from American Express. It has an introductory yearly fee of $0 for the first year. Afterwards, pay $250 per year.

Get a 1.5% early pay discount cash back bonus when you pay within 10 days. You can take up to 60 days to pay without interest when you pay the minimum due by the payment due date.

You will need good to superb credit scores to qualify.

Find it here: https://creditcard.americanexpress.com/d/the-plum-card-business-charge-card/

Bad Credit in a Recession? Get Company Credit Cards with Jackpot Rewards That Never Expire

Capital One® Spark® Cash Select for Business

Have a look at the Capital One® Spark® Cash Select for Business. It has no annual fee. You can get 1.5% cash back on every purchase. There is no limit on the cash back you can earn. Also get a one-time $200 cash bonus when you spend $3,000 on purchases in the first three months. Rewards never expire.

Pay a 0% introductory APR for 9 months. Then pay 14.49% – 22.49% variable APR afterwards.

You will need great to outstanding credit scores to qualify.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-cash-select/

Bad Credit in a Recession? Get Business Credit Cards with a 0% Introductory APR – Pay Zero!

Blue Business® Plus Credit Card from American Express

Have a look at the Blue Business® Plus Credit Card from American Express. It has no annual fee. There is a 0% introductory APR for the first year. Afterwards, the APR is a variable 14.74 – 20.74%.

Get double Membership Rewards® points on day to day business purchases like office supplies or client dinners for the initial $50,000 spent annually. Get 1 point per dollar afterwards.

You will need good to outstanding credit scores to qualify.

Find it here: https://creditcard.americanexpress.com/d/bluebusinessplus-credit-card/

American Express® Blue Business Cash Card

Also take a look at the American Express® Blue Business Cash Card. Note: the American Express® Blue Business Cash Card is identical to the Blue Business® Plus Credit Card from American Express. But its rewards are in cash rather than points.

Get 2% cash back on all eligible purchases on up to $50,000 per calendar year. Then get 1%.

It has no annual fee. There is a 0% introductory APR for the first year. After that, the APR is a variable 14.74 – 20.74%.

You will need good to superb credit scores to qualify.

Find it here: https://creditcard.americanexpress.com/d/business-bluecash-credit-card/

Establish business credit fast and beat the recession with our research-backed guide to 12 business credit cards and lines.

Bad Credit in a Recession? Get Terrific Cards for Cash Back

Flat-Rate Rewards

Capital One ® Spark® Cash for Business

Take a look at the Capital One® Spark® Cash for Business. It has an introductory $0 annual fee for the initial year. Afterwards, this card costs $95 each year. There is no introductory APR offer. The regular APR is a variable 18.49%.

You can get a $500 one-time cash bonus after spending $4,000 in the initial three months from account opening. Get unlimited 2% cash back. Redeem any time with no minimums.

You will need good to excellent credit to qualify.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-cash/

Flat-Rate Rewards and No Yearly Cost

Discover it® Business Card

Have a look at the Discover it® Business Card. It has no annual fee. There is an introductory APR of 0% on purchases for year. After that the regular APR is a variable 14.49 – 22.49%.

Get unlimited 1.5% cash back on all purchases, with no category restrictions or bonuses. They double the 1.5% Cashback Match™ at the end of the first year. There is no minimal spend requirement.

You can download transactions| easily to Quicken, QuickBooks, and Excel. Note: you will need great to outstanding credit to get approval for this card.

https://www.discover.com/credit-cards/business/

Bonus Categories

Ink Business Cash℠ Credit Card

Take a look at the Ink Business Cash℠ Credit Card. It has no yearly fee. There is a 0% introductory APR for the initial year. Afterwards, the APR is a variable 14.74 – 20.74%. You can get a $500 one-time cash bonus after spending $3,000 in the first three months from account opening.

You can get 5% cash back on the initial $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year.

Get 2% cash back on the first $25,000 spent in combined purchases at filling stations and restaurants each account anniversary year. Get 1% cash back on all other purchases. There is no restriction to the amount you can get.

You will need superb credit scores to get approval for this card.

Find it here: https://creditcards.chase.com/business-credit-cards/ink/cash?iCELL=61GF

Boosted Cash Back Categories

Bank of America® Business Advantage Cash Rewards MasterCard® credit card

Check out the Bank of America® Business Advantage Cash Rewards MasterCard® credit card. Get an 0% introductory APR for the first 9 billing cycles of the account. After that, the APR is 13.74% – 23.74% variable. There is no yearly fee. You can get a $300 statement credit offer.

Get 3% cash back in the category of your choice. So these are gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services. Get 2% cash back on dining. So this is for the initial $50,000 in combined choice category/dining purchases each calendar year. After that get 1% after, with no limits.

You will need outstanding credit scores to qualify.

Find it here: https://promo.bankofamerica.com/smallbusinesscards2/

Establish business credit fast and beat the recession with our research-backed guide to 12 business credit cards and lines.

Bad Credit in a Recession? Get Company Credit Cards for Luxurious Travel Points

Flat-rate Travel Rewards

Capital One® Spark® Miles for Business

Take a look at the Capital One® Spark® Miles for Business. It has an introductory annual fee of $0 for the first year, which after that rises to $95. The regular APR is 18.49%, variable due to the prime rate. There is no introductory annual percentage rate. Pay no transfer fees. Late fees go up to $39.

This card is wonderful for travel if your costs don’t fall into basic bonus categories. You can get unlimited double miles on all purchases, without any limits. Earn 5x miles on rental cars and hotels if you book with Capital One Travel.

Get an initial bonus of 50,000 miles. That’s the same as $500 in travel. But you just get it if you spend $4,500 in the initial 3 months from account opening. There is no foreign transaction fee. You will need a great to exceptional FICO rating to qualify.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-miles/

Bonus Travel Categories with a Sign-Up Offer

Ink Business Preferred℠ Credit Card

For a great sign-up offer and bonus categories, check out the Ink Business Preferred℠ Credit Card.

Pay an annual fee of $95. Regular APR is 17.49 – 22.49%, variable. There is no introductory APR offer.

Get 100,000 bonus points after spending $15,000 in the initial three months after account opening. This works out to $1,250 toward travel rewards if you redeem via Chase Ultimate Rewards.

Get three points per dollar of the first $150,000 you spend with this card. So this is for purchases on travel, shipping, internet, cable, and phone services. Plus it includes advertising purchases made with social media sites and search engines each account anniversary year.

You can get 25% more in travel redemption when you redeem for travel using Chase Ultimate Rewards. You will need a great to outstanding FICO score to qualify.

Find it here: https://creditcards.chase.com/business-credit-cards/ink/business-preferred

No Yearly Fee

Bank of America® Business Advantage Travel Rewards World MasterCard® credit card

For no yearly fee while still getting travel rewards, have a look at this card from Bank of America. It has no annual fee and a 0% introductory APR for purchases during the first 9 billing cycles. After that, its regular APR is 13.74 – 23.74% variable.

You can get 30,000 bonus points when you make at least $3,000 in net purchases. So this is within 90 days of your account opening. You can redeem these points for a $300 statement credit towards travel purchases.

Get unlimited 1.5 points for every $1 you spend on all purchases, everywhere, every time. And this is despite how much you spend.

Likewise get 3 points per every dollar spent when you schedule your travel (car, hotel, airline) via the Bank of America® Travel Center. There is no limit to the number of points you can earn and points do not expire.

You will need superb credit scores to get this one (as in, 700s or better).

Find it here: https://www.bankofamerica.com/smallbusiness/credit-cards/products/travel-rewards-business-credit-card/

Hotel Credit Card

Marriott Bonvoy Business™ American Express® Card

Have a look at the Marriott Bonvoy Business™ Card from American Express. It has a yearly fee of $125. There is no introductory APR offer. The regular APR is a variable 17.24 – 26.24%. You will need great to superb credit scores to get this card.

Points

You can get 75,000 Marriott Bonvoy points after using your card to make purchases of $3,000 in the initial 3 months. Get 6x the points for qualified purchases at participating Marriott Bonvoy hotels. You can get 4x the points at United States restaurants and filling stations. And you can get 4x the points on wireless telephone services purchased directly from American service providers and on American purchases for shipping.

Get double points on all other qualified purchases.

Rewards

Plus, you get a free night every year after your card anniversary. And you can get one more free night after you spend $60,000 on your card in a calendar year.

You get Marriott Bonvoy Silver Elite status with your Card. Plus, spend $35,000 on eligible purchases in a calendar year and get an upgrade to Marriott Bonvoy Gold Elite status through the end of the next calendar year.

Also, each calendar year you can get credit for 15 nights towards the next level of Marriott Bonvoy Elite status.

Find it here: https://creditcard.americanexpress.com/d/bonvoy-business/

The Perfect Business Credit Cards for You (Even With Bad Credit in a Recession)

Your absolute best business credit cards hinge on your credit history and scores, even if you have bad credit in a recession.

Only you can select which features you want and need. So be sure to do your homework. What is excellent for you could be disastrous for another person.

And, as always, be sure to develop credit in the recommended order for the best, quickest benefits. The COVID-19 situation will not last forever.

The post Bad Credit in a Recession? You can get Business Cards and Build Credit appeared first on Credit Suite.

It’s Science-backed With Our Foolproof Research: How to Build a Business Credit Score in a Recession

We Smuggled Out Hidden Information on How to Build a Business Credit Score in a Recession

Our research dynamos can teach YOU how to build a business credit score in a recession! The economy doesn’t have to be perfect to build business credit quickly and effectively.

Building better business credit means that your small business attains opportunities you never assumed it would.

You can get new equipment, bid on real property, and deal with the company payroll. And you can do so even when times are a bit lean. This is specifically helpful in holiday businesses, where you can go for calendar months with simply negligible sales.

Because of this, you ought to tackle building your company credit. Enhance and maintain your scores and you will have these possibilities. Do not, and either you do not get these opportunities, or they will cost you a lot more. And no company owner wants that.

So you need to know what affects your business credit before you can make it better.

How to Build a Business Credit Score in a Recession: Credit History Length Is Vital

This is essentially the length of time your business has been using business credit. Obviously newer businesses will have short credit histories. While there is not too much you can particularly do about that, do not despair.

Credit reporting agencies will also consider your personal credit score and your own history of payments. If your consumer credit is good, and particularly if you have a fairly extensive credit history, then your individual credit can come to the rescue of your company.

So that is, you did not just get your first credit card recently.

Normally the converse is also right. Hence if your individual credit history is poor, then it will have a bearing on your business credit scores. And it will do so until your small business and personal credit can be split up.

How to Build a Business Credit Score in a Recession: Don’t Allow Your Credit Utilization Rate to Harm Your Small business

Your credit utilization rate is just the amount of cash you have on credit. So it is then divided by your total available credit. Lenders in general do not wish to see this exceed 30%. Hence for every $100 in credit, do not borrow more than $30 of that.

If this percent is climbing, you’ll have to spend down and pay off your debts prior to borrowing more.

How to Build a Business Credit Score in a Recession: Your Payment History Truly Matters

Late repayments will affect your company credit score for a good seven years. If you pay your company debts off, as fast as possible, then you can make a very real difference when it relates to your credit scores.

Ensure that you pay promptly. And you will enjoy the rewards of promptness.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN. Get money even in a recession!

How to Build a Business Credit Score in a Recession: Your Personal Credit Can Bear upon Your Business Credit

A substandard business year could end up on your personal credit score. And in case your business has not been around for too long, it will directly influence your company credit.

But don’t worry, you can separate them easily. Do so by taking measures to unlink them.

For instance, get credit cards exclusively for your firm. Or open business checking accounts and other bank accounts (or perhaps get a business loan). And then the credit reporting bureaus will begin to address your personal and small business credit independently.

Also, make sure to incorporate. Or at least file a DBA (doing business as) status. You can also pay for your company’s debts with your firm credit card or checking account. And make certain it is the company’s full name on the bill and not your own.

How to Build a Business Credit Score in a Recession: The Credit Reporting Bureaus Can Just Plain Get It Wrong

Just like each organization out there, credit reporting agencies like Equifax and Experian are only as good as their information. If your firm’s name is like another’s, there can possibly be some errors.

So check those reports, and your company report at Dun & Bradstreet, PAYDEX. Remain on top of these reports and contest charges with documentation and clear communications. Do not just let them stay incorrect! You can fix this!

And while you’re at, it you should also be overseeing the credit reporting agency which solely handles personal and not business credit, TransUnion. If you do not know how to pull a credit report, do not fret. It’s easy.

An Alternative – Business Credit!

Business credit is credit in a small business’s name. It doesn’t attach to an owner’s consumer credit, not even if the owner is a sole proprietor and the only employee of the company. Consequently, a business owner’s business and consumer credit scores can be very different.

The Benefits

Since small business credit is independent from individual, it helps to secure a business owner’s personal assets, in the event of a lawsuit or business bankruptcy. Also, with two separate credit scores, a small business owner can get two different cards from the same merchant. This effectively doubles buying power.

Another advantage is that even new ventures can do this. Visiting a bank for a business loan can be a recipe for disappointment. But building business credit, when done the right way, is a plan for success.

Personal credit scores depend upon payments but also additional factors like credit usage percentages. But for business credit, the scores truly only hinge on whether a company pays its bills on time.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN. Get money even in a recession!

The Process

Growing business credit is a process, and it does not happen automatically. A business needs to actively work to establish business credit. Nevertheless, it can be done easily and quickly, and it is much more rapid than establishing personal credit scores.

Merchants are a big part of this process.

Doing the steps out of order will result in repetitive denials. No one can start at the top with company credit. For instance, you can’t start with store or cash credit from your bank. If you do you’ll get a rejection 100% of the time.

Business Fundability

A business has to be genuine to lenders and merchants. For that reason, a business will need a professional-looking web site and email address, with site hosting bought from a merchant such as GoDaddy.

And company telephone and fax numbers ought to have a listing on ListYourself.net.

Likewise the company telephone number should be toll-free (800 exchange or comparable).

A business will also need a bank account dedicated solely to it, and it has to have all of the licenses essential for running. These licenses all have to be in the correct, correct name of the small business, with the same business address and phone numbers.

So bear in mind that this means not just state licenses, but possibly also city licenses.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN. Get money even in a recession!

Dealing with the Internal Revenue Service

Visit the Internal Revenue Service web site and acquire an EIN for the company. They’re totally free. Select a business entity like corporation, LLC, etc.

A company can get started as a sole proprietor. But they will more than likely wish to change to a kind of corporation or partnership to decrease risk and maximize tax benefits.

A business entity will matter when it comes to taxes and liability in case of a lawsuit. A sole proprietorship means the entrepreneur is it when it comes to liability and taxes. No one else is responsible.

If you operate a small business as a sole proprietor, then at the very least be sure to file for a DBA (‘doing business as’) status.

If you do not, then your personal name is the same as the business name. As a result, you can wind up being directly responsible for all company debts.

Additionally, according to the IRS, by having this structure there is a 1 in 7 possibility of an IRS audit. There is a 1 in 50 chance for corporations! Steer clear of confusion and significantly decrease the chances of an IRS audit at the same time.

Starting Off the Business Credit Reporting Process

Begin at the D&B website and get a cost-free DUNS number. A DUNS number is how D&B gets a company in their system, to produce a PAYDEX score. If there is no DUNS number, then there is no record and no PAYDEX score.

Once in D&B’s system, search Equifax and Experian’s websites for the company. You can do this here. If there is a record with them, check it for correctness and completeness. If there are no records with them, go to the next step in the process.

By doing this, Experian and Equifax will have something to report on.

Trade Lines

First you must establish trade lines that report. This is also called vendor accounts. Then you’ll have an established credit profile, and you’ll get a business credit score.

And with an established business credit profile and score you can start getting revolving store and cash credit.

These types of accounts have the tendency to be for the things bought all the time, like coffee, shipping boxes, outdoor work wear, ink and toner, and office furniture.

But first off, what is trade credit? These trade lines are credit issuers who will give you initial credit when you have none now. Terms are commonly Net 30, instead of revolving.

Hence if you get approval for $1,000 in vendor credit and use all of it, you must pay that money back in a set term, like within 30 days on a Net 30 account.

Details

Net 30 accounts have to be paid in full within 30 days. 60 accounts have to be paid in full within 60 days. In contrast to with revolving accounts, you have a set time when you must pay back what you borrowed or the credit you made use of.

To kick off your business credit profile the right way, you should get approval for vendor accounts that report to the business credit reporting bureaus. As soon as that’s done, you can then use the credit.

Then pay back what you used, and the account is on report to Dun & Bradstreet, Experian, or Equifax.

Not every vendor can help like true starter credit can. These are vendors that will grant an approval with hardly any effort. You also need them to be reporting to one or more of the big three CRAs: Dun & Bradstreet, Equifax, and Experian.

But you may have to apply more than one time to these vendors, and you may need to purchase some things you don’t need, to confirm you are responsible and will pay promptly. Consider giving nonessential things to charitable organizations.

Revolving Store Credit

Once there are 3 or more vendor trade accounts reporting to at least one of the CRAs, progress to revolving store credit. These are service providers such as Office Depot and Staples.

Use the small business’s EIN on these credit applications.

Fleet Credit

Are there more accounts reporting? Then move onto fleet credit. These are businesses like BP and Conoco. Use this credit to purchase fuel, and to repair and take care of vehicles. Make sure to apply using the small business’s EIN.

Cash Credit

Have you been sensibly handling the credit you’ve gotten up to this point? Then move onto more universal cash credit. Keep your SSN off these applications; use your EIN instead.

These are usually MasterCard credit cards. If you have more trade accounts reporting, then these are feasible.

Monitor Your Business Credit

Know what is happening with your credit. Make sure it is being reported and deal with any mistakes ASAP. Get in the practice of checking credit reports. Dig into the specifics, not just the scores.

We can help you monitor business credit at Experian and D&B for 90% less. Update the information if there are errors or the info is incomplete.

Disputing Errors

So, what’s all this monitoring for? It’s to dispute any errors in your records. Errors in your credit report(s) can be corrected. But the CRAs normally want you to dispute in a particular way.

Disputing credit report inaccuracies usually means you send a paper letter with copies of any proofs of payment with it. These are documents like receipts and cancelled checks. Never mail the originals. Always mail copies and retain the original copies.

Disputing credit report mistakes also means you specifically spell out any charges you challenge. Make your dispute letter as clear as possible. Be specific about the problems with your report. Use certified mail so that you will have proof that you mailed in your dispute.

A Word about Building Business Credit

Always use credit sensibly! Don’t borrow more than what you can pay off. Keep an eye on balances and deadlines for repayments. Paying in a timely manner and in full will do more to raise business credit scores than pretty much anything else.

Establishing business credit pays. Great business credit scores help a business get loans. Your lending institution knows the business can pay its debts. They know the business is bona fide.

The small business’s EIN attaches to high scores, and lending institutions won’t feel the need to demand a personal guarantee.