How to build and get business credit [Video]

Establishing a strong business credit score is key to your company’s health, making sure it survives and thrives into the future. Good credit can make your organization more attractive to investors, help you secure financing from banks more easily, and give you leverage in negotiations.

‍In this article, Ramp explains some simple and effective ways to build business credit quickly, whether you’re a new entrepreneur or have been in business for years.

How to build business credit

An established business credit report can help you get higher credit approvals, better interest rates, and better repayment terms on business lines of credit and loans.

Here are five steps for establishing business credit as a small business owner:

1. Formalize your business entity and get an EIN

The first step to establishing your business credit is to form a legal entity, such as a limited liability company or corporation, or LLC. This separates your personal credithistory and finances from your …