Business Credit Building Checklist

Step 1 – Make Your Business Legit

• Form a legal business entity (LLC, Corporation).
• Get an EIN from the IRS.
• Open a business checking account.
• Get a dedicated business phone number (Google Voice, Grasshopper, etc.).
• Set up a professional website & business email (no Gmail/Yahoo).

Step 2 – Establish Your Business Identity with Credit Agencies

• Get your D-U-N-S Number from Dun & Bradstreet (free).
• List your business with the business credit bureaus:
  • Dun & Bradstreet
  • Experian Business
  • Equifax Business
• Make sure your info is consistent across Secretary of State, IRS, bank, and all listings.

Step 3 – Start with Vendor Credit (Net 30 Accounts)

• Apply for starter accounts that report to business credit bureaus, such as:
  • Uline
  • Quill
  • Grainger
  • Summa Office Supplies
• Use the accounts for real purchases and pay early.
• Goal: Achieve a Paydex score of 80+ (Dun & Bradstreet’s benchmark for “excellent” business credit).

Step 4 – Move to Revolving Credit

• Apply for a business credit card (Capital One Spark, Amex Blue Business, etc.).
• Keep balances under 30% utilization.
• Pay on time or early.

Step 5 – Add Additional Reporting Accounts

• Apply for store credit cards in your business name (e.g., Lowe’s, Home Depot, Staples).
• Get a fuel card if applicable (e.g., WEX, Shell Fleet).
• Consider equipment financing in your business name once you have 3–6 months of positive reporting.

Step 6 – Maintain & Grow

• Monitor your business credit reports regularly (Nav, CreditSafe, D&B).
• Keep personal credit healthy, some lenders use it for blended scoring.
• Avoid late payments, even one can drop your Paydex score significantly.
• Continue adding accounts that report to build depth.

What’s Required to Generate a Paydex Score

• At least 3 trade accounts reporting to Dun & Bradstreet.
• Payments to those vendors reported for at least one billing cycle (Net 30 accounts are common).
• Vendors must actually report to D&B, not all do.

Typical Timeline

1. Week 1–2:
   • Get your D-U-N-S number (can take 5–30 days unless you pay for expedited service).
   • Apply for 3–5 Net 30 vendor accounts that report to D&B.
2. Week 3–5:
   • Make purchases with each vendor.
   • Pay invoices well before the due date (early payments boost the score).
3. Week 6–8:
   • Vendors submit payment history to D&B (most report monthly).
4. Week 8–12:
   • Your Paydex score appears once enough trade lines have reported at least one cycle of payments.

Best Practice for Speed

• Place orders right away (even small ones) so the clock starts ticking.
• Pay within 10–15 days on a Net 30 account, this helps you hit 80+ faster.
• Use vendors known to report quickly, like Uline, Quill, and Grainger.

Fast Track to 80+ Paydex Score – Vendor Starter List

Goal:

Get a Paydex score of 80+ in 60–90 days by using vendors that report quickly to Dun & Bradstreet (D&B).

Step 1 – Get Your D-U-N-S Number

• Apply at: D&B D-U-N-S Request Form (Free option available)
• Save your D-U-N-S number, you’ll need it for vendor applications.

Step 2 – Apply for 3–5 Starter Vendors That Report to D&B

(Order from these right away and pay invoices early)

Step 3 – Payment Strategy

• Order immediately after account approval.
• Pay invoices 10–15 days after purchase (well before Net 30 deadline).
• Vendors report monthly, paying early signals strong payment behavior.

Step 4 – Monitor Your Progress

• Sign up for free D&B CreditSignal alerts or use Nav.com to track your Paydex.
• Expect your score to appear within 60–90 days once at least 3 accounts report.

✅ Pro Tip: Keep using these vendors even after your score is established — long-term positive history strengthens your business credit profile.