Nine steps that move the needle
- Incorporate or register your business and get a business number
- Open a dedicated business bank account and card
- Pay suppliers, cards, and loans on or before the due date
- Keep utilization below 30% of available credit
- Ask suppliers that report to credit bureaus to extend trade credit
- Check your personal and business credit reports for errors
- Avoid many hard inquiries in a short period
- Keep older accounts open to lengthen your history
- Maintain healthy average daily balances in your bank account
Why it matters
Better credit unlocks larger limits, longer terms, and lower rates — for example qualifying for a term loan instead of a short-term advance.
Use financing to build credit
A modest line of credit used responsibly and paid on time is one of the best ways to build a strong borrowing record.
Frequently asked questions
How long does it take to improve business credit?
Meaningful improvement usually takes 3–6 months of consistent on-time payments and lower utilization.