business credit

Bluevine Review: Free, High Yield Small Business Checking! Are They Serious?

I’ve been really excited to review Bluevine since so many people have asked me about it. This is a free small business checking account offer that earns 50X the national average interest with no monthly fees or minimum deposits. Of course, they can’t possibly cater to every business owner… Can they?

That’s what we’ll explore here.

Bluevine Business Checking Overview
- Bluevine’s Line of Credit
- Bluevine’s Bill Pay
Bluevine Company Overview
Frequently Asked Questions
The Verdict: Is Bluevine Legit?

Now, let’s fire away!

Bluevine Business Checking Overview

Bluevine offers free, single-user business checking accounts that can earn 2% interest on up to $100K with qualifying activity. There are no minimum deposits or NSF fees, which is incredible.

One standout feature that Bluevine doesn’t seem to advertise much is the ability to give your bookkeeper access to your account without sharing your dedicated login information — this can come in handy!

To qualify for interest accrual, account holders must meet at least one of the following requirements:

Spend $500 with your Bluevine debit card in a calendar month OR
Receive or deposit $2.5K via ACH, mobile deposit, wire transfer, or via a merchant payment processor (not ATM).

Bluevine uses the MoneyPass ATM network, with 37K locations nationwide. So, if you’re super rural, you may not be able to access a surcharge-free ATM. In this case, you would pay $2.50 for every ATM transaction.

While most services are free online and within the MoneyPass network, Bluevine charges $4.95 for all cash deposits made at an ATM. This might be steep for a business that makes multiple cash deposits, but online businesses wouldn’t be affected much.

There are no limits to the number of transactions that can be made in a Bluevine account, but cash transfers are limited to $1.5K per transaction, $2K per day, and $7.5K per month.

Pros	Cons
Free checking with no monthly fees	No joint accounts
2% interest on balances up to $100K	Minimum requirements to collect interest
No minimum deposits	$7.5K maximum monthly cash transfers
Sub-accounts with dedicated account numbers	$2.50 fee for out-of-network ATMs
Unlimited, fee-free transactions	No branch access (ATM-only)
No NSF fees	$4.95 fee for cash deposits

So, a Bluevine checking account seems like a fantastic option for certain businesses. The offer seems to be catered to accountants, bookkeepers, freelancers, and other service businesses that primarily conduct digital transactions.

Naturally, there are businesses that Bluevine isn’t going to work well for.

For one, partnerships might not be a great fit, since only one account holder is permitted for each account. Next, super rural businesses without easy access to MoneyPass ATMs might end up paying quite a bit in surcharges (assuming you would need ATM access). Finally, this offer is simply not well-suited for businesses that need to deposit more than $7.5K in cash monthly, as that’s where Bluevine maxes out.

Fun Fact: Bluevine checking is powered by Coastal Community Bank, which is also the servicer for the X1 credit card.

Bluevine’s Line of Credit

Bluevine offers lines of revolving credit up to $250K, with rates as low as 4.8%, serviced by Celtic Bank. Once approved, you can get access to funds quickly. Note that the advertised interest rate is “simple interest,” which means compounding isn’t accounted for, and the low 4.8% is based on a 26-week repayment plan.

You can apply for a line of credit online in minutes. Bluevine uses Plaid to connect to your bank account and analyze cash flow. To qualify, you must have been in business in the U.S. for at least 6 months, have at least $10K in monthly revenue, and have a personal FICO score of 625 or higher.

According to at least one satisfied lendee, you cannot apply for a Bluevine loan using your Bluevine checking account, which seems a little wonky. Hopefully, they will update their lending platform to work with their own bank at some point in the future. But, as of now, there doesn’t seem to be a workaround.

If you apply and are approved for a Bluevine line of credit, you can choose to wire transfer funds for access within a few hours and a fee of $15. Alternatively, you can choose an ACH deposit, which can get your funds to you as soon as the next business day (however, in some cases this can take a few days).

Bluevine’s Bill Pay

If you have the banking information for your payees, you can add them manually in your Bluevine account dashboard. I feel like online check services like Checkbook.io might be easier to use, since you only need an email address and name to deliver payments. But, bill pay is a nice feature for any bank account.

Moreover, you can connect Bluevine to Quickbooks to view income and expenses from your checking account dashboard.

Bill pay funds are held by Silicon Valley Bank, a trusted FDIC-insured institution. All-in-all, I think Bluevine’s bill pay options are competitive.

Bluevine Company Overview

Bluevine Inc. was co-founded in July 2013 by Eyal Lifshitz, Moti Shatner, and Nir Klar in Redwood City, California. The company started as an invoice factoring company, offering capital loans from $5K to $50K with “cash in as fast as 1 day.” They exited the factoring game and announced their free checking account offer in early 2020.

I found this gem from 2014 in the Wayback Machine:

Frequently Asked Questions

What happened to Bluevine?

There are a few rumors floating around that Bluevine is not accepting new applications. This is not the case — Bluevine is accepting new applications for lines of credit and new bank accounts. The rumor that they were closed may have started when PPP funding ended, as Bluevine was an approved lender for the Paycheck Protection Program.

Is Bluevine accepting new applications?

Yes! Despite the hearsay, Bluevine is currently accepting applicants for business checking accounts and lines of credit.

Does Bluevine run a credit check?

Yes, Bluevine runs a credit check for applicants looking for a line of credit. For approval, applicants must have a FICO score of 625 or higher.

Does Bluevine do a hard pull?

For businesses organized as an LLC, Bluevine does not do a hard pull, so applicants’ credit will not be negatively impacted.

What bureau does Bluevine pull from?

Bluevine has a partnership with Experian, Equifax, and Dun and Bradstreet, and reports on-time payments to all three.

Does Bluevine affect credit score?

Since they report payments to business credit bureaus, on-time payments to Bluevine will have a positive impact on your credit score.

Does Bluevine charge a fee?

The only fees Bluevine charges for checking accounts are ATM fees for cash deposits. Most ATMs within the MoneyPass network are surcharge-free for Bluevine account holders.

How much can I withdraw from Bluevine?

The maximum amount you can withdraw from Bluevine is $1,500 per transaction, $2,000 per day, and $7,500 per month

Is Bluevine a direct lender?

No. Bluevine’s lines of credit are serviced through Celtic Bank.

Who owns Bluevine?

Bluevine was founded by Eyal Lifshitz, Moti Shatner, and Nir Klar, who still currently own and operate the company.

What credit score does Bluevine use?

Bluevine uses applicants’ FICO scores to determine creditworthiness.

Is Bluevine FDIC insured?

Bluevine checking accounts, loans, and bill pay funds are FDIC insured through the respective banks that service these offers (Coastal Community Bank, Celtic Bank, and Silicon Valley Bank).

How many customers does Bluevine have?

As of February 2022, Bluevine had 450K customers.

The Verdict: Is Bluevine Legit?

Yep! This business checking offer is legit, and I would go as far as to say that I recommend it… for some business owners, namely accountants, freelancers, and other entities that conduct mostly digital banking. However, if you move a lot of cash through your company, or you have more than one owner, Bluevine probably isn’t your best option.

As far as Bluevine’s line of credit, I do trust offers from Celtic Bank, but I’m not the biggest fan of these fast-cash-type offers that use the owner’s personal FICO score to determine creditworthiness. Instead, I like to teach business owners to obtain credit using their business credit. What I do like is that Bluevine reports payments to D&B. So, with responsible payments, a Bluevine loan can help you build business credit.

If you’d like to learn how to obtain up to $100K in business credit in as few as 30 days, join Business Credit Workshop today.

A Full OnDeck Review: All You Need to Know About This Business Funding Offer

By Joe

In the past, we’ve reviewed business funding offers from Fundbox, Lendio, and Kabbage. Until now, OnDeck (a company with a similar offer) has somehow slipped through the cracks. It’s vital for business owners who seek funding to know about all of their options. So, I want to provide a breakdown of OnDeck’s business lines of credit and term loans.

Here, I’ll share everything you need to know about the offers from OnDeck so that you can decide if this is the right option for your business funding needs.

Here’s what’s “in the hole:”

What is OnDeck?
What to Expect When You Apply with OnDeck
- OnDeck Partners
Frequently Asked Questions
The Verdict

Now, batter up!

What is OnDeck?

OnDeck is a small business lending company that promises to make the process fast and easy. The company has an A+ BBB rating, and has funded $14 billion to small business owners in the U.S., and they have a 4.8 TrustScore on TrustPilot. In a nutshell, they provide what seem like trusted term loans and lines of credit.

So, are they legit? Let’s find out!

OnDeck Term Loans

OnDeck’s core offer is a term loan for small businesses. Term loans are set-amount, fixed-rate, loans with specific repayment schedules.

Here, you can get $5K to $250K loans with up to 24-month repayment terms. Automatic payments for an OnDeck term loan will be made daily or weekly.

OnDeck Lines of Credit

The secondary offer from OnDeck is a line of credit. Lines of credit are a pre-set borrowing limit with revolving terms that can be used at any time.

Here, you can get $6K to $100K lines of credit with 12-month repayment terms. Automatic payments for an OnDeck line of credit will be made weekly.

OnDeck Requirements

As with most business funding options, you will need to meet minimum requirements to successfully obtain funding. With OnDeck, you must have at least one year in business, a consumer FICO score of at least 625, $100K annual business revenue, and a business bank account.

Next, you must also operate outside of OnDeck’s list of restricted industries. Any business in the following industries are prohibited from obtaining funding through the platform:

Adult entertainment
Drug dispensaries
Firearms vendors
Government
Non-profit and civic organizations
Public administration
Horoscopes and fortune telling
Lotteries, casinos, and gambling
Gaming
Money service businesses
Rooming and boarding houses

Finally, funding through OnDeck is unavailable in Nevada, North Dakota, or South Dakota.

When the minimum requirements are not met, anyone who applies through the platform will be referred out to OnDeck’s Trusted Lending Partner team.

OnDeck Interest Rates & Fees

I have said this before, but I can’t say it enough. ALWAYS read the fine print.

The average rate for OnDeck’s term loans is 62.1% APR and 48.9% APR for lines of credit (ouch!). This means that if you carry a balance, you’ll be paying a ton of interest, and could get yourself into trouble if you’re not careful.

Let me break this down assuming 50% interest on a $100K, 12-month OnDeck loan: Your monthly payment would be approximately $10,309.82 and your total interest would be $23,717.90 at the end of the year.

This is without considering fees, which, according to several sources, are not disclosed until closing, and can run in the thousands of dollars.

I think that if you have the revenue to qualify, you would be much better off looking into a free corporate credit card from Stripe, Torpago, Ramp, Divy, or Brex. And, if you aren’t there yet, you would do well to build your business credit.

What to Expect When You Apply with OnDeck

If you choose to apply for funding with OnDeck, the first thing you’ll be asked is how much funding you think you need. If your needs fall within the $5K to $250K range, there might be an offer for you here.

Next, they want to know how soon you need the funding. If you have 72 hours or you are looking for funding a month out, this will help determine how the company proceeds with your application.

Then, they need to know what you need the money for. You’ll be provided with a space to describe how you will use any funds you obtain.

From there, you’ll share your contact information with OnDeck and choose a password to create an account. You may be asked to enter a referral code (this will ensure that the person who referred you gets any bonus or incentive that they’re entitled to). So far in the process, the application process is simple.

After that, you will need to share information about your business: legal entity name, address, phone number, EIN, gross annual revenue, and average bank balance. Finally, you will be asked to enter identifiable info about yourself, including your social security number (which lets me know they may do a hard pull to your personal credit. Update: We have been told by OnDeck that they do soft pulls, even after approval, but please verify this information).

When you submit your application, OnDeck will immediately analyze the information you submitted, and attempt to make a pre-approval decision.

Once pre-approved, be prepared to submit documentation to complete the loan process. Then, you can receive your funds or credit line within as few as 24 hours. Then, after 6 months or so of on-time payments, you may be able to refinance your loan for a lower rate.

And, if you run into financial troubles, you will be required to pay your loan, possibly without much flexibility (this should be expected with most business financial offers, though some lenders will give you some grace).

OnDeck Partners

The OnDeck Trusted Lending Partner team can be reached via email at tlp@ondeck.com at any time. But, an unsuccessful applicant will be contacted within 48 hours with offers from partners. OnDeck promises that they do not share your information with partners before asking for your consent.

So, who is in the partner lineup?

OnDeck has two types of partners: editorial and financial.

Editorial partners are essentially affiliates. Anyone with a captive small business audience that might benefit from OnDeck’s offer may inquire.

Financial partners are sales organizations or direct lenders who want to receive customer referrals from OnDeck. In exchange, OnDeck receives a referral fee. Lending partners must have been in business for at least two years, offer at least $1M in monthly business funding, have a functional, encrypted website, active business insurance, and be based in the United States.

Currently, OnDeck is referring applicants whose businesses are too young for internal financing to BitttyAdvance, who works with businesses as young as 6 months. They do require at least 3 months of business bank statements, a personal credit score of 450 or higher, and at least $5K in monthly business revenue.

BittyAdvance offers instant approval and next-day funding, and they have a good TrustPilot score. Before you apply, please do your due diligence — I haven’t had the chance to fully explore this offer yet, and can’t say whether or not I recommend it.

Note: OnDeck also has programs in Australia and Canada.

OnDeck Company Overview

Originally located in the greater New York area, OnDeck Capital Inc. was founded in 2006 by Mitch Jacobs, the founder and current CEO of Plink.

In July 2020, the OnDeck was acquired by Enova International, the company that purchased Pangea Monay Transfer in 2021. OnDeck’s home base is now in Chicago. The current CEO is Joe Coughlin.

OnDeck is a publicly-traded company, and they’ve received a total of $1.2 billion in funding since launch. I would say they are here to stay.

Frequently Asked Questions

Is OnDeck still in business?

Yes, OnDeck was acquired in 2020, and they are still very much in business.

Who owns OnDeck?

OnDeck is now owned by Enova International and is publicly traded.

Is there a minimum credit score for OnDeck?

Yes, OnDeck requires a minimum FICO score of 625.

What is the maximum amount you can borrow from OnDeck?

The most you can borrow from OnDeck at one time is $250K, in the form of a term loan.

What type of loan is OnDeck?

OnDeck offers both term loans and lines of revolving credit.

What are the terms for OnDeck?

OnDeck’s lines of credit should be paid in full within 12 months, while their term loans vary with repayment terms of up to 24 months.

How does OnDeck make their money?

OnDeck makes money by charging loan fees and interest, with early rates in the 50% range.

For a borrower, what are the benefits of choosing OnDeck?

OnDeck offers fast cash, with funds received within 24 hours. The catch is in the cost.

Does OnDeck conduct credit checks?

Yes, OnDeck asks for a social security number in the loan application and requires a minimum personal FICO score (625) to approve funding.

Does OnDeck require a personal guarantee?

Yes, OnDeck required a personal guarantee. Both the business and the owner are liable for any debts incurred.

Does OnDeck use Plaid?

Yes, OnDeck uses Plaid for read-only access to business bank account information.

The Verdict

Is OnDeck the home run you’re looking for?

To be fair here, OnDeck is a legitimate company that seems to have a ton of happy borrowers — in fact, I know some of them personally. They are transparent with their offer, and they seem to be honest lenders (that in itself is a breath of fresh air). I am not one to turn people away from an offer like this… unless something better is available — in this case, better options might be available.

However, if you won’t qualify for other, more feature-rich business funding options, OnDeck could be exactly what you need to get fast cash flow that helps you grow your business. Just make sure to explore competitors. And, no matter which platform you choose to obtain funding, be sure to do the math before you apply (i.e. How much will a loan actually cost, and can you afford it?).

If you’re interested in learning how you can obtain up to $100K in business credit in as few as 30 days, join Business Credit Workshop today.

Is Biz2Credit Legit? A Complete Review

By Joe

As I’ve reviewed business credit builders and fintech offers on the rise, I keep seeing Biz2Credit pop up. I’ve seen a lot of advertising, and, most recently, I noticed that prior to linking a bank account to Tillful, their user dashboard links out to funding options from Biz2Credit — this tells me that the brands have partnered. And, since I like Tillful’s secured card offer, I thought I might find something good here as well.

Now, before I give you the final verdict, it’s important for you to understand what makes me come to the conclusion I have. So, in the meantime, here’s everything you need to know:

What Kind of Company is Biz2Credit?
Company Overview
How Does Biz2Credit Funding Work?
Biz2Credit Loan Requirements & Terms
BizAnalyzer Overview
Biz2Credit’s Disaster Relief Hub
Biz2Credit’s Referral Program
Biz2Credit Partners
Frequently Asked Questions
Takeaway: Is This The Best Option for Small Business Funding?

Now, let’s get moving.

What Kind of Company is Biz2Credit?

Essentially, Biz2Credit is a business funding platform that helps small businesses get the cash they need (before they finish their cup of coffee). The goal is to provide owners with access to capital using technology to simplify the process.

Biz2Credit offers a range of services, including working capital, business term loans, ERTC loans, and commercial mortgages. Biz2Credit provides a direct lending option through a subsidiary and partners with third-party lenders, which means they act primarily as an online broker to provide businesses with targeted partner offers.

I know that one of the lending companies Biz2Credit worked with for PPP loans was Itria Ventures, which is a subsidiary of Biz2Credit. Beyond that, I didn’t find a lot of information about which partner lenders they work with regularly.

Next, it seems like most people who work for Biz2Credit would recommend a job at the company to a friend, and almost all employees approve of the CEO (according to Glassdoor). So, the company culture is likely great.

Note: Biz2Credit’s offer seems pretty similar to Lendio’s, except that Lendio also provides access to credit cards and acquisition funding.

Company Overview

Biz2Credit Inc was founded in NYC, in 2007, by Ramit and Rohit Arora. So, the company has been around for over a decade — in that time, they’ve received $387 million in funding. Most recently, in 2019, they raised $52 million in a series B funding round led by Westbridge Capital. This tells me that Biz2Credit is likely here to stay.

Ramit, the current company president, has ten-plus years of experience in risk management and has worked with notable companies like Citibank and Xerox. And, Rohit, the present CEO, has been a member of the Forbes finance council since 2017. They seem to me like a pair of trustworthy leaders.

Biz2Credit did receive a lot of poor reviews following PPP loan services, and there was at least one class action lawsuit filed (also re: PPP). But, to be fair, everyone was navigating new territory at that time, and the class action was recently dismissed.

Not to mention that, despite the onslaught of PPP complaints, the company still has a 4.6 Trustpilot rating, which is pretty difficult for any financial service to maintain.

You might also like: Torro Business Funding Review: Is This “Zero Hassle” Offer Legit?

How Does Biz2Credit Funding Work?

The first thing you can expect, if you decide to apply for funding through Biz2Credit is to “apply, which starts by you creating an account on the platform. You don’t have to move through the application process to create a user dashboard on the account. You do not have to share your social security number to create an account, but a hard inquiry is likely if you choose to follow through with a funding application.

Biz2Credit also offers both iOS and Google Play apps, but neither have been updated in the past couple of years, so I would recommend keeping the application process online or via phone.

Biz2Credit enables applicants to submit information online or to apply over the phone by calling 800-200-5678. Once an application is submitted and approved, and your bank account is connected via Yodlee, your funds should be deposited directly within 72 hours (or less — many applicants say they got their funds in a day).

Funding requirements seem to be based on a blend of business revenue and your personal credit score, and any financing offer you receive will fall into one of four categories.

Biz2Credit Loan Requirements & Terms

Requirements vary by funding type, but if your annual revenue is lower than $250K or your personal credit score is lower than 575 for working capital, or 660 for all other loans, you will not qualify.

If you’re unqualified based on your personal credit score, learn how to get business credit with just an EIN. But, if you think you may qualify, read on. Below is a quick overview of the terms and requirements for each type of Biz2Credit funding.

1. Working Capital

Working capital loans (for financing day-to-day expenses) from Biz2Credit start at $25K and go up to $2M+. These loans can be paid back daily, weekly, or bi-weekly, as a percentage of your business receipts.

Requirements:

Greater than $250K annual revenue
Credit score of at least 575
6 months+ in business

2. Term Loans

Biz2Credit offers term loans from $25K to $500K to grow your business or free-up cash flow; terms range from 12-36 months and interest rates start at 7.99%. These loans can be repaid weekly or bi-weekly.

Requirements:

Greater than $250K annual revenue
Credit score of at least 660
18 months+ in business

3. ERTC Loans

The Employee Retention Tax Credit (ERTC) is a refundable credit that companies can claim on their taxes for qualifying wages, insurance, and employee costs in response to COVID-19. Biz2Credit offers loans that can be repaid upon receipt of the credit in amounts of up to 65% of the amount of the upcoming IRS payment.

These are interest-only loans for the first 12 months. What this means is that your payments will be lower at the beginning, since you will not pay toward the loan principal.

Requirements:

Pending payment of IRS credit of $100K or more
Credit score of at least 660
Must have been in business in February 2020 and still operating

If a payment is not received from the IRS, Biz2Credit’s ERTC loans will roll over into term loans for up to 24 months.

Note: the ERTC deadline is May 12, 2023. So, these loans are likely to end at that time.

4. Commercial Real Estate Loans

Finally, Biz2Credit offers commercial real estate loans (CREs), ranging from $250K to $6M with interest rates starting at 10%. These can be used to purchase, renovate, cash out, or refinance real estate. CRE terms range from 12 to 36 months and are repaid monthly. And, some applicants can qualify for interest-only payments for a portion of the loan.

Requirements:

Greater than $250K annual revenue
Credit score of at least 660
18 months+ in business
Must be a commercial real estate owner

BizAnalyzer Overview

Biz2Credit doesn’t only offer to fund — they also have a sort of business credit score called BizAnalyzer, which companies can use as a “virtual CFO.” This platform sort of combines factors like revenue, personal credit score, time in business, and debt to income, to come to a determination.

The platform could be super helpful for some companies and can give you an idea of where you stand in your industry/what you might need to improve.

What I dislike about BizAnalyzer is that it’s based on the owner’s personal credit score — I’m a fan of building business credit that has no impact on personal credit and building a business credit score with the three major credit bureaus.

Biz2Credit’s Disaster Relief Hub

Another highlighted feature on the Biz2Credit website is the disaster relief hub. At one point, this was primarily used to guide applicants on how to obtain COVID-related business funding and forgivable loans. Now, the company shares resources related to current natural disasters, as declared by the U.S. Small Business Administration (SBA).

Biz2Credit’s Referral Program

Most financial companies offer referral rewards for account holders. And, Biz2Credit’s offer isn’t bad at all — for every applicant you refer to Biz2Credit, you can earn a $200 Amazon gift card.

However, there are some limitations to the referral offer: To receive your gift card, the borrower that you refer must make it all the way through the application process and obtain funding through the platform. And, you’re capped at five referrals.

If you wanted to refer more than five people/businesses, it would be more appropriate to join Biz2Credit’s affiliate program.

Biz2Credit Partners

While their terms and conditions are very clear, most people don’t read the fine print on every offer they sign up for. So, it’s important to note that Biz2Credit partners with B2B financial companies like TaxAct, The Hartford, lenders, and more. This means that when you apply for funding, you may receive solicitations from partners.

Frequently Asked Questions

Is Biz2Credit a direct lender?

Yes and no; Biz2Credit offers some direct funding through a subsidiary, but also works with partners to secure funding for account holders based on business revenue and the owner’s personal credit score.

Who is the lender for Biz2Credit?

Intria Ventures LLC is a subsidiary of Biz2Credit Inc. and is the primary lender used for PPP loans through the platform.

Does Biz2Credit check your credit score?

Yes, Biz2Credit will inquire about the business owner’s personal credit score when making a determination about creditworthiness for business funding. However, you do not need to share your social security number to apply for an account and access the Biz2Credit dashboard.

Is a Biz2Credit loan forgivable?

If you received PPP funding through Biz2Credit, yes, it is forgivable under federal law. However, Biz2Credit doesn’t currently offer forgivable business funding.

How do you apply for loan forgiveness through Biz2Credit?

For PPP loans obtained through Biz2Credit, forgiveness must be applied for through the SBA’s PPP loan forgiveness program.

Is Biz2Credit still funding?

Biz2Credit still provides working capital, term loans, ERTC loans, and commercial mortgages through its platform. The company is no longer servicing PPP loans, since the program ended on May 31, 2021.

Takeaway: Is This The Best Option for Small Business Funding?

If you’re wondering if Biz2Credit is legitimate, the answer is yes — they’re an established company, and they’ve helped many small businesses obtain funding. They’re not the only broker in the business funding market, but their offer is definitely competitive.

Businesses looking for certain types of funding might find what they’re looking for here. However, Biz2Credit’s options are somewhat limited. For example, in some cases, it might be best to work directly with the lender you want to apply with. And, supposing you need a credit card or other funding not offered by Biz2Credit, you’ll have to keep looking.

There are plenty of other lenders out there that offer business credit based on your business credit score. Subscribe to this blog to stay in the loop about the best (and the worst) business funding offers. If you want to learn how to build business credit so you can obtain up to $100K in funding in 30 days, enroll in Business Credit Workshop today.

The Ultimate Tillful Review (+New Secured Credit Offer for Businesses)

By Joe

Update: In July 2023, Nav acquired Tillful and launched the Nav Prime program (along with new a charge card offer) in September. According to Nav, the Tillful card is no longer available.

→ You can read the full review of Nav’s new card here: Is the Nav Prime Card Right for Your Business? Let’s Find out!

Recently, I came across a Facebook post in a private group, announcing a new secured credit card for businesses — it’s perfect timing for an offer like this since Wells Fargo and Brex no longer offer secured business credit cards. So, naturally, I had to explore the offer. And, what I found was so much more than just a credit card.

This complete Tillful review is a breakdown of everything I learned, and how you might use this offer to build business credit.

Here’s what’s covered:

What is Tillful?
The Tillful Credit Card
The Tillful App
Tillful Company Overview
Frequently Asked Questions
Tillful Secured Credit Card Competitor Overview
The Verdict: Is Tillful the Real Deal?

Now, let’s get going!

What is Tillful?

Tillful is a fintech company that offers businesses a free credit score (which is different from a DUNS number and other traditional credit scores) that they use to match account holders with curated financial offers. To me, the business closely resembles a new Credit Karma for business.

By connecting to users’ business bank accounts via Plaid, the platform is able to gain financial information about companies, which is delivered back to users to see how they stack up.

Tillful also offers their own free, secured business credit card with 1.5% cash back, to help owners build business credit, an innovative and timely offer.

Tillful Business Credit Score Overview

The folks at Tillful have created their own business health score, which ranges from 0-100 and is based partially — i.e. mostly — on a company’s cash reserves and industry, a measure of real-time financial performance. The Tillfull score is never shared with lenders and is meant to give users a fresh view of their company’s financial health.

I’m not confident that this scoring system will actually influence potential lenders outside Tillful’s platform, but it seems like a pretty clever and helpful tool.

In addition, Tillful has partnered with Experian, who recently launched a machine-learned business credit score called Intelliscore Plus V3 (IPV3) — the new model is said to improve risk assessment for business lenders. Active Tillful account holders can request their free IPV3 business credit score at any time.

However, Tillful users who want to see a full report will have to order it from Experian using a quick link in their Tillful account dashboard or by visiting Experian’s website directly.

At least in part, the IPV3 score is based on a company’s tradeline payment history and ranges from 300-850. Rather than a 12-month model prediction, the IPV3 is based on the previous 24 months of credit history.

Coming from Experian, I think this scoring system is going to stick and that continually more traditional lenders will use it to make funding decisions.

Currently, Tillful has a 4-star rating on Trustpilot, which tells me they’re making users happy, for the most part.

Most business owners typically don’t have all of the information they need to access business lines of credit — Tillful gives them a new way to establish business credit at no cost (other than a security deposit for the secured credit card).

Partner Offers Overview

New businesses that show very low financial reserves won’t qualify for the Tillfull credit card, but will be directed to Biz2Credit for alternative funding. If you have multiple business bank accounts, consider connecting all of them to get more relevant offers. I caution against connecting bank accounts in poor standing.

In addition to funding offers, Tillful might connect you with a new business banking or insurance offer. Especially since the company is fairly new, I assume they will continue to expand their partner offer — as of right now, it seems on par for a business just starting to build credit history (as long as you do your due diligence to make sure a better competitor offer doesn’t exist and pay your accounts responsibly).

Business Credit Education Overview

Tillful is built to help companies improve their credit (and to earn from partner commissions), so the offer wouldn’t be complete without business credit education. Tillful’s blog is stacked with information about how to improve your credit score, streamline your cash flow, create an effective budget, and learn about COVID-19 financial relief.

After browsing the blog, my official stance is that the information seems to be well-written, easy to digest, and helpful for businesses trying to build credit.

The Tillful Credit Card

The Tillful business credit card is a secured card for legal entities. Like a charge card, the balance should be paid in full each month. Unlike other secured business credit cards, Tillful uses Plaid to connect to your business bank account, sizes up your cash flow and reserves, then makes an offer to apply if you are likely to qualify.

One highlight is that this card comes with 1.5% cash back rewards on all spending. If you read the fine print, this is a promotional rate, which means rewards could decrease over time. Next, there is no personal guarantee. Finally, there’s no hard pull to an applicant’s credit.

Currently, the card reports payments to business credit bureaus to help build business credit scores. Tillful plans to report to Dun & Bradstreet in the near future.

Since it is a secured card, you will be required to deposit funds into your account, and the minimum security deposit is $500.

The Tillful App

If you didn’t already guess, Tillful also has an app available on the iOS App Stores. It has a 4.4-star rating on the platforms. So, users can conveniently monitor business credit and apply for funding from an Apple device. Thus far, there is no Tillful app in the Google Play store (you might just as easily log in using your mobile browser).

Using the app, you can get your free business credit score and see financial product recommendations, including funding options. It’s pretty straightforward.

Tillful Company Overview

Located in the San Francisco Bay area, Tillful was founded by Ken So in June 2020. Tillful is a subsidiary of Flowcast, which is a company that uses AI to help financial institutions make credit decisions (hence the fast friends situation with Experian).

Flowcast has been around since 2015, and has a five-star glassdoor rating. So, from what I can tell, they’re a great company to work for — in full disclosure, there are currently only two reviews, so this isn’t a particularly scientific sample to base opinions on.

So, let’s talk about the founder, Ken So (also Flowcast’s CEO). Before all of this, So was the Director of Corporate Development at Ericsson and previously worked in the corporate dev department at Qualcomm – both very reputable companies. To me, this seems like a strong and trustworthy leader and makes me believe the offer is likely to be around for a while.

According to Growjo.com, Tillful’s current annual revenue is estimated at $2.3 million. And, since they’re not reliant on external funding, they’re likely at an advantage over other newcomers in the business credit-building arena.

Frequently Asked Questions

Here are the answers to the questions people are asking about Tillful:

Is Tillful free?

Yes, Tillful’s offer is completely free – users can access their credit score and secured credit card. However, any partner offers that Tillful recommends may charge fees and interest.

Does Tillful do a hard inquiry?

No, Tillful does not do a hard pull on business or credit reports. Instead, credit card approval is based on other factors.

Does Tillful report to credit bureaus?

Yes, Tillful reports payment history to business credit bureaus, as the credit card offer is intended to help entities build credit.

Which credit bureaus does Tillful report to?

Currently, Tillful reports payments to Experian and Equifax Business.

Does Tillful report to Dun & Bradstreet?

Unfortunately, no. As of October 2022, Tillful does not report on-time payments to D&B or Equifax Business. However, they plan to in the near future.

Tillful Secured Credit Card Competitor Overview

Tillful is not the only secured business credit card on the market — a couple of veterans still exist: Bank of America (BoA) and First National Bank of Omaha (FNBO). See how these three secured business credit cards stack up next to one another.

Tillful competitors, Tillful vs BoA vs FNBO

The key tradeoff with the Tillful secured card is that you should pay your account in full each month, while the other available cards have revolving terms — you can make a monthly minimum payment if you choose, so there’s a bit more freedom with the old-timers.

However, monthly minimums come with the risk of high fees and interest; with the Tillful secured business credit card, if you make your payments as agreed, you’ll avoid this. Now, if you pay a BoA or FNBO card in full each month, you will avoid interest charges, so these offers almost balance each other out, not factoring FNBO’s $39 annual fee.

Tillful is available with a smaller minimum credit line. So, businesses with less cash in reserves are more likely to qualify. Plus. Tillful does no hard pull to your credit and there is no personal guarantee (the business owner is not liable for repayment of the funds — the business is), which is not the case with BoA or FNBO.

If I were going to use a secured credit card to establish business credit, I would choose Tillful over BoA or FNBO.

The Verdict: Is Tillful the Real Deal?

Of course, the question I was most interested in answering when I started down the Tillful rabbit hole is whether or not this is a good offer for building business credit. After some digging, it appears that this is a legitimate offer with a ton of potential. The offer is free, the company will help businesses improve credit (with on-time payments, anyway), and the brand is transparent about what they provide.

Right now, the biggest downside to Tillful’s offer is that they do not report on-time payments to D&B. To report to D&B, companies need at least 300 active accounts. So, I think it is likely that Tillful will do this in the future, in which case I would probably give the offer a 5-star rating (when appropriately utilized).

With that said, Tillful does currently report payments to Experian Business, and they claim that they will be reporting to Dun & Bradstreet as well as Equifax Business soon. Whether they deliver on that offer is yet to be seen, but do keep your eyes peeled.

Note that as far as business credit monitoring platforms, I’m still a bigger fan of Nav — mostly because I have more trust in established companies (Plus Nav has an Android app). But, I do encourage you to check out both offers and see which one you like best.

I teach a seven-step process to get up to $100K in business credit in as few as 30 days by leveraging the right combination of offers and setting up your business the correct way. If you’re interested in learning exactly how it works, join Business Credit Workshop today.

Is Credit Strong Legit? A Complete Personal and Business Credit Builder Review

By Joe

If you’re here, your credit profile might leave something to be desired. So, you’re presumably looking for a way to boost your score. Maybe you want to buy a house or obtain financing for another major purchase in the near future. Or, maybe you own a company, and you need to build out your credit profile to obtain business credit.

Either way, Credit Strong’s name is floating around in your world, and you’re kicking the tires because you want to know if their offer is legit and helpful (or if it’s just another new gimmick). Here, you’ll find out about both their personal and business credit builder offers.

This is everything I know about Credit Strong’s big-picture offer — which includes more than typical credit builder loans — so that you can find out if signing up is in your best interest.

Here’s what we’ll look at:

What is a Credit Strong Account?
- How Does Credit Strong Work?
Credit Strong Terms & Fees
- Personal Terms & Fees
- Business Terms & Fees
Credit Strong Account Requirements
- Personal Requirements
- Business Requirements
Frequently Asked Questions
Credit Strong Company Overview
Credit Strong Competitors
More Answers to Related Questions
Conclusion: Is Credit Strong Legitimate?

Now, let’s get the show on the road.

What is a Credit Strong Account?

According to the company website a Credit Strong account is “the first fusion” of savings at an FDIC-insured bank and credit building. In my opinion, this isn’t a super clear value proposition. And, after reading user reviews, I think some account holders who have unsuccessfully tried to leverage the offer would agree. So, what does the company mean when they say “first fusion?”

Some users say that the offer appeared in search results when seeking out a loan — it’s crucial to understand that Credit Strong’s credit builder offer is not a traditional loan. So, the generally-expected financing terms don’t apply.

In a nutshell, Credit Strong provides a way to simultaneously build credit and fund a savings account with four secured-type financial product options:

Revolv. – Add $500 to $1K revolving credit line to your credit profile without a credit card. Send “payments” to a savings account and get them reported to all three major consumer credit bureaus. Withdraw funds when your account is mature or after you cancel.

Cost: $99 per year, plus monthly account payments

Instal. – Add a $1K or $2.5K installment account to your credit profile. Send “payments” to a savings account and get them reported to all three major consumer credit bureaus. Withdraw funds when your account is mature or after you cancel.

Cost: $15 or $30 per month, plus monthly account payments.

Magnum – Add a $5K or $10K installment account to your credit profile. Send “payments” to a savings account and get them reported to all three major consumer credit bureaus. Withdraw funds when your account is mature or after you cancel. This plan can be leveraged by small business owners, with no EIN, who want to establish a larger credit line.

Cost: $55 or $110 per month, plus account payments

Business – Build $2.5K, $5K, or $10K of commercial credit. Send “payments” to a savings account and get them reported to all three major consumer credit bureaus. Withdraw funds when your account is mature or after you cancel. You’ll need an EIN to open a business account.

Cost: $149 to $749 account setup fee, and $100 to $440 per month

Note: The business offer is not easily found on Credit Strong’s website main navigation — You can find more information here.

How Does Credit Strong Work?

Credit strong accounts establish a credit line on your consumer credit profile without a loan or credit card. When you make monthly payments on time, they are reported as “pays as agreed,” to the credit bureaus. In the meantime, those payments go into an escrow account that you may withdraw from later — this offer gives you a chance to save money while building your credit.

Funds saved in a Credit Strong account may be withdrawn if you choose to cancel your account. But, if you withdraw before the end of the amortization period (10 years on standard personal installment accounts), you will still have to pay the interest owed.

This is standard with most credit builder financial offers and Credit Strong is transparent about amortization schedules.

Credit Strong Terms & Fees

Here’s a breakdown of the fee structure for Credit Strong’s personal and business accounts.

Personal Terms & Fees

Credit Strong’s personal account cost structure seems to be unpopular with many users who have canceled their accounts.

These unsatisfied users tend to expect traditional loans or traditional savings offers. But, what they’re actually getting is something different: a distinctive “credit-builder” offer with an escrow account. Many credit builder loans and secured credit cards come with high fees, as with most products and services designed for individuals with poor credit.

Here’s a breakdown of terms & fees for personal Credit Strong accounts:

If you have a difficult time saving money on your own and need to diversify the type of accounts on your credit profile to boost your score, a credit builder option like this can help. Expectedly, you will be charged for the service.

After looking at the offer from a bird’s eye view, an Instal. account doesn’t seem like a good idea to me, simply because the standard loan term is 10 years, and payments toward savings are amortized. So, if you open an installment loan with Credit Strong, it could take a decade to save $1K to $2.5K — And, in the end, you will pay quite a bit to make it happen. With that said, you can always make additional payments to fulfill the terms early and save on interest (plus, Credit Strong does not charge prepayment penalties).

Business Terms & Fees

There are two fee options with Credit Strong’s business offer: (1) with interest or (2) without interest.

Of course, the interest accounts end up costing more than the no-interest accounts, but the initial account setup fees are lower than the latter. So, if you have the cash to pay the fees upfront, it’s best to go with the interest-free option.

Here’s an overview of Credit Strong’s business terms & fees:

By the end of two years and one month, if you pay as agreed, you could have up to $10K in savings with a Credit Strong™ business account.

Note that with the interest business accounts, payments are split between interest and “principal,” which means you’ll probably pay more toward the interest you owe during the first ¼ of your loan term. Toward the end of the terms, more of your payments will be applied toward principal — this is called amortization and is how most installment loans work.

Credit Strong Account Requirements

To apply for a Credit Strong account, you should meet specific minimum requirements:

Personal Requirements

To qualify for a personal Credit Strong account, you must meet the following requirements:

US resident with a physical US address (other than Vermont & Wisconsin)
Valid SSN or ITIN (individual taxpayer ID)
Good-standing checking account, debit card, or prepaid card
Working mobile phone number or Google Voice account
Valid email address

Credit Strong will not use a credit pull or consider your income to determine eligibility for an account — basically, they only need to properly identify who you are and where you live.

Business Requirements

To qualify for a business Credit Strong account, you and your company need to meet certain requirements.

Individual requirements are as follows:

At least 18 years of age and a permanent US resident
US resident with a physical US address
At least 25% ownership in the company
No other co-owners that individually own 25% or more of the company
Valid SSN or ITIN
Valid, state-issued identification

And, here are the company requirements:

Registered EIN
At least 3 months since the business was legally established
LLC., Partnership, or Corporation
Located in the US with a valid, physical business address

Additionally, you must not take part in any prohibited business activities.

Frequently Asked Questions

Does Credit Strong Raise Your Credit Score?

Credit Strong’s offer gets mixed reviews. Depending on why a credit score is low, on-time payments on a Credit Score account may improve account holders’ credit scores by reporting on-time payments to credit bureaus. However, unpaid accounts can be reported as delinquent. So, it is only one piece of the credit-building puzzle.

Does Credit Strong do a hard pull?

No, Credit Strong does not do a hard pull to the applicants’ credit to approve accounts. So, if you apply for an account (so long as you make responsible payments) your credit score is safe.

Is Credit Strong a tradeline?

If you open a Credit Strong Business account, you can establish a financial tradeline in the form of a secured (pre-paid) installment loan. However, the company doesn’t yet report to business credit bureaus but does claim that they plan to in the future.

Does Credit Strong report to Dun & Bradstreet?

As of September 2022, Credit Strong does not report to Dun & Bradstreet (D&B) or any other business credit bureaus. The company reports to consumer credit bureaus Equifax and Paynet and claims that they do plan to eventually include Experian, D&B, and SBFE. So, the only way that Credit Strong might help build business credit currently is through helping to improve a business owner’s personal credit score and fund their savings account up to $10K.

It takes a bit of work, and specific qualifications for lenders to report to business credit bureaus. So, I choose to be optimistic and assume Credit Strong is working on building its user base to meet these requirements, and that they will start reporting to the business bureaus soon.

How many points does Credit Strong give you?

How many points do you get from Credit Strong?

The number of points your credit score will increase with Credit Strong’s offer depends on the account holder’s current credit profile and their ability to make on-time payments on their account. There are several factors that influence credit scores:

Payment history
Amounts owed & utilization
Length of credit history
New credit applications (inquiries/hard pulls)
Types of credit used

So, Credit Strong is merely a tool that can be used to build credit, but must be part of a comprehensive strategy — I recommend Credit Secrets for credit-building advice.

What happens if you stop paying Credit Strong?

If you stop paying Credit Strong as agreed, they can report negative information to credit bureaus. However, you may terminate your account at any time with no fees or prepayment penalties.

If you stop paying because your account terms are fulfilled, you can either leave your money in the savings account to accrue interest or transfer the funds to your bank account — getting your money from Credit Strong can take about a week.

Credit Strong Company Overview

Credit Strong was launched in 2019, so the offer is pretty new. However, the parent company, Austin Capital Bank, has been around for a decade and a half, since 2006. Austin Capital Bank is a trusted community bank in Austin, Texas.

The bank’s founder and CEO, Erik Beguin, was previously a member of the Federal Reserve Board in Washington DC and served as a Chairman for the Federal Reserve Bank of Dallas before that, so he definitely knows finance.

Credit Strong Competitors: Side-by-Side Comparison With Self & Kikoff

Here’s a quick view of how Credit Strong, Self, and Kikoff compare, side-by-side, as accounts that build credit.

Credit Strong, Self, and Kikoff have credit builder offers that report payments to consumer credit bureaus with no hard pull to the applicant’s credit report. And, each of them offers an escrow/savings account.

None of the above companies report payments to any business credit bureaus, but Credit Strong promises that they will in the future.

Credit Strong is the only company, from the list above, that has an offer for businesses, and their account options are quite a bit more robust than the other two. Furthermore, they have more options for larger accounts. Nevertheless, the offers from Self and Kikoff might be better for individuals that would prefer a simple setup.

While these competitors seem to get the most interest in the credit builder and savings space, they are not your only options for credit builder loans or savings offers. Before you sign up for a Credit Strong account, I recommend you research offers from local community banks, such as a shared-secured loan, secured credit cards, and Individual Development Accounts (IDAs or “matched savings”) before you commit to anything new and shiny.

For those considering an individual credit builder offer, I feel like I should answer some general and more fundamental questions before I wrap up. But, if you’re a company owner exploring Credit Strong’s business offer, you might want to skip to the end.

What is considered a good credit score?

A FICO score between 670 to 739 is considered “good.”

What is an excellent credit score?

A FICO score of 800 and up is considered “excellent.”

How long does it take to build credit to 700?

The duration that it takes to increase a credit score to 700 depends on the individual’s existing credit profile and the tactics used. It can take from 60 days to several years to boost a score into this range.

How can you raise your credit score by 200 points in 30 days?

If you paid your credit down to utilization in the 30% range or lower, optimized your debt-to-income ratio, and had always made on-time payments to diverse accounts, it’s possible you could raise your credit score by 200 points in 30 days. But, this answer is highly broad — it could take some people many years to grow their score by 200 points, and others might be able to do it by removing discrepancies from their credit report (which can be done in 30 days).

How long does it take to build credit from 500?

Many people build credit from 500 within a few months. Again, this answer varies from credit profile to credit profile.

How fast can you build credit?

You can build credit in as little as 30 days, which is how long it takes most reporters to notify credit bureaus of changes to a credit profile (including payments made).

How fast can you rebuild credit?

If you have a smart strategy and funds, and your profile isn’t too messy, you can rebuild your credit in a month, but it often takes longer.

How can you raise your credit score in 90 days?

The best way to raise your credit score is to make on-time payments to all lenders, keep your utilization below 30%, and include a diverse array of accounts (revolving, installment, etc.). You should also monitor your credit report to watch for discrepancies and mistakes, and report them when they arise.

How long does it take to build credit to buy a house?

To buy a house, the credit score needed varies from lender to lender. It could take a few months or a few years to build a credit score high enough to qualify for a mortgage.

Conclusion: Is Credit Strong Legitimate?

From my research, I gather that Credit Strong is absolutely a legitimate company with an honest offer, which is intended to simultaneously build credit and savings. Secured loans and lines of credit are often used to build credit while savings are difficult for some people to manage on their own, so it’s natural that an offer like this would exist.

While there is a wave of poor Credit Strong reviews flooding the web, these seem to primarily come from account holders who did not understand the offer when they applied.

This tells me that the company might be better off if they clarify the details upfront, for those who might not understand what they’re signing up for. While I found Credit Strong to be pretty transparent, I can see how someone without a lot of credit-building knowledge would have a contrary opinion.

With that said, since they don’t yet report on-time payments to business credit bureaus, I don’t consider Credit Strong to be a particularly powerful offer to build business credit, but I look forward to watching that side of their offer evolve.

Now, if you’ve made it this far into this review, you should understand everything you need to decide whether the offer is right for your situation. Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today.

AtoB Business Gas Card Review: Is it Really a Superior Fleet Card?

By Joe

I have not used this card myself, but AtoB has been coming up in conversations about building business credit for over a year now. People in my network are giving the card and the company rave reviews. So, I had to find out what was up for myself. Now that I know, I definitely want to share this offer with readers.

Here, learn everything you need to know about an AtoB business fuel card: overview, benefits, highlights, and application process (there’s even a bit of info about bonus offers from AtoB).

Here’s the breakdown:

What is the AtoB Gas Card?
- Where is AtoB Located?
- Who Owns AtoB Fuel Card?
AtoB Fuel Card Highlights (Beyond Savings & Ease)
Here’s How to Apply for an AtoB Gas Card
- The Secured Card Option From AtoB
Answers to Related Questions
Final Thoughts

Now, learn what this offer has in store.

What is the AtoB Gas Card?

AtoB offers a business “fleet card” for companies that would like to buy now and pay later for fuel and automotive services. In addition, the card offers bonuses like discounts up to 25 cents per gallon (determined by the underwriting team upon approval) on gas… and it’s free — zero fees.

Fleet cards aren’t just for business owners, but for anyone who drives for your company. So, you can request multiple cards and provide one for each driver.

The AtoB card is different from a typical credit card in that you don’t make minimum monthly payments. Instead, the terms are net 7 (you pay the card in full every week).

I heard that AtoB offers net 7 terms (true) — this means cardholders are expected to pay their balance in full every 7 days — and that these terms could be expanded to net 14. While there might have been an offer to extend payment terms in the past, this is not the case. As of today, according to an AtoB sales rep, the only available terms are net 7.

Finally, their offer is geared toward but is not limited to serving the trucking and logistics industry, which is natural since trucking and logistics companies have the largest fleets.

Where is AtoB Located?

Celegans Labs, Inc., the name of AtoB’s parent company, is located in San Francisco, California, at Four Embarcadero Centre, Suite 1400. Their company actually does business from Carr Workplaces, a co-working space off Mission Street — a building about 8 blocks from Oracle Park (makes me wonder if they’re Giants fans).

Who Owns AtoB Fuel Card?

AtoB was founded in 2019 (not very long ago!) by Harshita Arora, Tushar Misra, and Vignan Velivela. Collectively, they seem to be a brilliant tech team.

Harshita Arora, AtoB Co-Founder — _{Harshita Arora}

Tushar Misra, Co-Founder of AtoB — _{Tushar Misra}

Vignan Velivela, Co-Founder & CEO of AtoB — _{Vignan Velivela}

Harshita Arora is a backend software engineer who previously founded Harshita apps, the company that built Crypto Price Tracker, which was acquired a few years back.

Before AtoB, Tushar Misra attempted to build a decentralized charging station network for lighter-than-car vehicles as the CEO and Founder of Grido. In the course of fewer than 18 months, the company scaled to five cities in the US and Mexico before it looks like they closed the shop.

Vignan Velivela, AtoB’s current CEO, is a Carnegie Mellon graduate. And, before this venture, he worked full-time as a software engineer at Cruise (he created motion-planning software for self-driving cars).

AtoB Fuel Card Highlights (Beyond Savings & Ease)

In addition to the savings (up to 25 cents per gallon) on fuel and the ease of making one fuel payment for multiple drivers, AtoB has some pretty impressive features and benefits. Take a look:

1. It’s Completely Free… Really

The key benefit of an AtoB card is that it is free for qualified businesses. Most business gas cards charge monthly fees and interest. Not to mention, AtoB’s maximum savings are at least double that of any card I’ve ever heard of.

If it’s Free, How Does the AtoB Fuel Card Make Money?

Most fleet cards earn money with merchant rebates — essentially asking the merchant for a rebate each time a driver pays for fuel with their card. In AtoB’s case, where they offer up to 5% savings, rebates would have to be loftier than that. And, traditionally, merchant rebates range between 1-4%.

According to a Buzzfile report on the company, AtoB generated just above a quarter million dollars in 2019 (this isn’t much for a company that now has at least 158 employees).

Someone told me that they believed AtoB had halted operations because of changing market conditions. As of today, September 2022, this rumor is false, and AtoB is still in operation — the business is very much alive and well. Any sluggish business in recent months could have had something to do with the funding round that just took place.

After some digging, I found that AtoB has received a total of $257 million from 5 funding rounds since August 2020. Most recently, they announced another $75 million raised on August 16, 2022. And, with the founders’ tech background, I would wager that the majority of future profits will come from their software offer.

Furthermore, AtoB has additional offers that generate revenue.

Extra Offers From AtoB

Complementary to the zero-fee gas card offer, which certainly stands out, AtoB has other offers within its platform.

AtoB Plus – Paid, subscription-based offers for added benefits.
AtoB Wallet – Stripe-powered digital wallet.
AtoB Payroll – In-app W2 and 1099 payroll platform.
AtoB Factor – Invoice factoring for outstanding earnings (partner offer).

If any of these interest you, I encourage you to look into them — for non-cardholders, see AtoB’s terms & conditions to learn more.

2. Get On-Time Payments Reported to Experian Business

Anyone building business credit will want to check out AtoB’s full offer when they find out that they report on-time payments to Experian Business every 30 days.

Does A to B fuel card report to credit bureaus?

Several fuel cards do this — In fact, there are at least a dozen or so business gas cards that report on-time payments to credit bureaus (but, you don’t see me sharing full reviews about all of them, do you?).

3. It’s Universal: Use Your Card Anywhere Visa is Accepted

Many, if not most business gas cards are limited to specific, in-network gas stations. AtoB has eliminated that headache and can be used at any station that accepts Visa.

Full disclosure: AtoB is not the only fuel card that does this. For instance, Comdata has a Mastercard, and Wex has some universal options — they have at least 30 small business gas card offers with various terms.

4. See the Best Nearby Stations to Buy Fuel

After 90 days of account and card activation, cardholders can access the AtoB app. You’ll have to reach out to support to activate this perk after you’ve been using your card(s) for a few months.

With the AtoB Driver mobile app, anyone can find the best in-network fuel savings in their area, even when they’re on the go — And, the in-app directory includes the fuel grade at each location, to make thoroughly-informed decisions.

5. Use Your Card to Pay Insurance, Maintenance, Tolls, & More

Most fuel fleet cards offer variable savings on fuel for every gallon purchased. AtoB offers more savings. In addition, they offer business owners the option to opt-in to use your cards on other purchases

So, if you choose, you’ll be able to unlock the ability to use your card(s) to pay auto insurance, vehicle maintenance, bridge & interstate tolls, and other business costs.

6. Control Spending to Prevent Card Misuse

According to a US fraud report from Shell, 86% of Fleet managers think that drivers’ card misuse results in 30 cents per gallon or 10% in added costs. And, AtoB has used this statistic to power their strategy, add security features to their offer, and to provide a savings prediction for businesses.

So, you’ll not only save via instant discounts but also prevent card misuse for up to 10% savings on gas costs.

Here’s How to Apply for an AtoB Gas Card

If you’re ready to apply, head over to AtoB.com, and click Get Started.

The application asks for basic contact info, company info, financial information, and your business location. You’ll have to be a legitimate business owner with an EIN to complete the online form. You’ll also need to share your weekly fuel spend and the number of vehicles you have, along with how many cards you need. And, you’ll need to upload a copy of your driver’s license.

You can either link your business bank account or upload your three most recent business checking account statements. If you try to use a personal checking account, you won’t be able to proceed.

A to B fuel card application financial information

Before you submit, you’ll have a chance to review the application info you entered. Once your email is confirmed, AtoB will review your information and get back to you within 5-7 business days (that is, according to the website — the sales rep I spoke with said it could take up to 14 days for a decision).

While they state in their terms & conditions that they reserve the right to pull consumer credit, AtoB does not ask for a social security number during the application process.

The Secured Card Option From AtoB

Business owners with lower, provable business income may qualify for a secured card (you put money into your account, and refill your fund balance as you go). While secured cards aren’t typically recommended — traditional secured card fees are just too high — this one is free and comes with most of the benefits AtoB offers.

So, if you are unsure about your ability to qualify for a tradeline, this might still be an offer worth looking into. You be the judge.

Answers to Related Questions

Will a gas card help build credit?

Many fuel cards report payment activity to credit bureaus, which can help build out the cardholder’s credit profile and, in turn, build credit. Fleet cards (business gas cards) often report on-time payments to D&B, Experian Business, and/or Equifax Business. So, yes, responsible payments made toward a balance on a gas card can help build credit.

Is there a “universal gas card?”

Universal gas cards aren’t limited to in-network fuel purchases. There are universal cards. AtoB, for example, can be used anywhere Visa is accepted. And, companies like Comdata and Wex have universal options.

Is fuel cheaper with a fuel card?

When used at discount locations, which vary from card to card, fuel cards enable the cardholder to save on the price per gallon of gas. AtoB offers savings of up to 25 cents per gallon at select locations and up to 5 cents per gallon universally. Some fuel cards offer “cash price” or better at select stations.

What fuel card can be used anywhere?

Several fuel cards can be used anywhere. Any card with a Visa or Mastercard logo can be used wherever these types of payments are accepted. AtoB is a universal Visa card, Comdata offers a Mastercard, and Wex has a handful of universal card options.

What business gas card is easiest to get?

Any secured business gas card is easy to get because you can fund the account with your own cash (and still take advantage of card benefits). Some secured cards come with high fees. AtoB, however, offers a free, secured business gas card to those who might not qualify for net 7 terms at the gate. Over time, most secured cards can be upgraded to more traditional credit terms.

How do I apply for a gas card?

To apply for a gas card, 99% of the time, you can visit the website of the card you want and apply online. There may be some cases where you must file a paper application. Review a business credit application template to see what you might expect.

Final Thoughts

In addition to the features and benefits already listed above, I love that AtoB, as a company, is so transparent — they’re not trying to hide anything (as far as I can tell), and their offer stands out from every competitor that I know of.

If you’re in the market for a fleet card, I recommend you do more research on AtoB, and consider their offer. It seems to be a hit! Before you do, take a look at our list of gas cards that report to business credit bureaus.

Would you like to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today.

Free, Printable Business Credit Application Template (Plus, How to Use it Correctly)

By Joe

Download Your Free, Business Credit Application Template

Download business credit application PDF — _{Get the PDF}

Download business credit application for word doc — _{Get the Doc}

Download business credit application for excel sheet — _{Get the sheet}

_{*This template is intended for informational purposes. All legal documents should be reviewed by an attorney before use, and terms should be defined to protect you in the event of default.}

Download your free, printable business credit application template so you can extend credit to your customers, or just find out what a business credit application looks like.

Business Credit Workshop coaching students get access to hundreds of actual business credit applications used by banks across the US.

Join Now

Most of the time, we focus on ways to improve credit profiles and obtain business credit. But, many of our readers, members, and students run B2B operations that serve other businesses. So, it’s crucial that we understand the ins and outs of extending credit to our business clients and customers… when the opportunity arises.

If you offer your business customers the chance to buy now and pay later, you open a portal to attract more high-ticket sales from those that might not otherwise be able to afford a product or service in a single payment. Plus, by extending lines of credit or private tradelines, you can increase total profits by way of interest and fees.

Or, if you’re just curious about what to expect when you start applying for business credit yourself, this information (and the downloads above) can be helpful.

Here, I provide a breakdown of the essential elements of a business credit application. Finally, I’ll answer some frequently asked questions and provide guidance for new creditors, including options to create online business credit application forms.

What is a Business Credit Application?
- Fundamentals of a Business Credit Application
Here’s How to Create an Online Credit Application Form
How Should You Ask a Customer to Fill Out a Credit Application?
Don’t Forget to Do These 3 Things When You Offer Credit to Your Customers
Summary

Now, let’s get cracking.

What is a Business Credit Application?

A business credit application is a form that enables a registered entity to apply for a line of credit, term loan, revolving tradeline, or a private net 30 account. It collects identifiable information about the business to determine its creditworthiness.

A business credit application serves dual purposes:

Gather personal, business, and financial data about the applicant
Serve as a contract between the applicant and creditor

A credit application is considered a legal document, as it should ask for the applicant’s signature. Hence, once signed, and if all terms and conditions are properly outlined in the document, it is legally binding.

Any company that extends credit to their customers needs an application form to weed out those who would not be eligible for any type of financing.

Fundamentals of a Business Credit Application

What do you write on a credit application? - Contact information, Company information, Bank references, Trade references, Financial information, Terms of the contract, Applicant authorization

To make an informed determination whether or not a company is worthy of business credit, you need specific identifying information.

Contact Information
- Full Name
- Professional Title
- % Ownership in Business (Most creditors require at least 50%)
- Company Name
- Tax ID or SSN
- Personal Address (Street, City, State, Zip)
- Business Phone Number
- Business Email Address
Company Information
- Type of Business
- Years in Operation or Business Start Date
- Business Address (Street, City, State, Zip)
- Legal Entity Type (Proprietorship, Partnership, LLC, Corporation)
- State Registered in
- If DBA or Subsidiary, Parent Company Name & Business Start Date
- Name of Principal Responsible
- Principal’s Address (Street, City, State, Zip) & Phone Number
- Name of any Co-Principal Responsible (optional)
- Co-Principal’s Address (Street, City, State, Zip) & Phone Number
Bank References
- Checking Account (Bank Name, Account No., Contact Info)
- Savings Account (Bank Name, Account No., Contact Info)
- Credit Line (Bank Name, Revolving/Term, Account No., Contact Info)
Trade References (Most creditors ask for at least three)
- Company Name
- Contact Name
- Company Address
- Company Phone Number
- Account Age or Account Open Since
- Credit Limit
- Current Balance
Financial Information
- Amount of Credit Requested
- Total Business Assets
- Total Business Liabilities
- Annual Net Income
- Yes or No: Have Any Officers Filed a Bankruptcy Petition?
- Yes or No: Is Your Company Subject to Any Litigation? (+Explanation)
Contract Terms
- Terms of use
- Interest and Fees
- Penalties for Noncompliance
- Additional Forms Required (Articles of Organization, etc.)
- Disclosure of Credit Pull
Applicant Authorization
- Applicant Full Name
- Legal Business Name
- Applicant Signature & Date Signed

(and/or)

Company Seal & Date Stamped

Once the applicant has submitted their app– assuming it appears they have what it takes, and that you would extend them credit — you’ll need to verify their information and move through the rest of the process.

Here’s How to Create an Online Credit Application Form

In place of or in addition to a paper, pdf, spreadsheet, or doc application, you might want to offer your customers the option to fill out an online credit application form(this is super helpful, especially when applicants are not local).

So, here’s the scoop. There are multiple ways to create online forms, but here’s what I recommend.

i. Use Google Forms

Google Forms has a straightforward user interface and simple design. While it’s not super customizable, it will get the job done, and it’s free for Google Workspace users — both free, personal accounts and business accounts.

ii. Use Jotform

Jotform is another option — super easy to use — that is free for up to 5 forms and 100 monthly submissions. It’s more customizable than Google forms, with integrations with other platforms you might use like PayPal, Google Sheets, Adobe Sign, and HubSpot. It can cost up to $99 per month, depending on your usage

iii. Use Your Website’s Form Builder

If you’re already collecting customer information via contact or subscribe forms on your website, you likely have a form builder that you use. You can probably get into your website dashboard and whip something up based on what you’ve learned here.

There are many other options out there to help you offer an online application — I’ve just found these to be the simplest to use and most reliable.

How Should You Ask a Customer to Fill Out a Credit Application?

If you’re eager to extend credit to customers — perhaps you want to use your credit offer as a highlight to make more sales — you can include your credit option at checkout (in-person or online) or during the sales process, depending on how your operations run.

Service businesses might want to mention their credit application in proposals or bids — at the point just before the sale is made or earlier.

I also recommend that you bookmark or download our trade reference request template and cover letter template (or create your own), because you can share them with your applicants to help them provide you with more information. Then, you can better determine if they meet your requirements for a credit account.

Recommended Reading: Trade References: Learn Everything You Need to Know

Don’t Forget to Do These 3 Things When You Offer Credit to Your Customers

Here are a few tasty reminders with a helping of details for you to munch on.

1. Do Your Due Diligence and Be Selective

The application form is only the first part of a credit application. If you are going to extend credit to your business customers, it’s so important to make sure that you verify everything that the applicant tells you.

Double-check credit report information with Dun & Bradstreet (D&B), Experian Business, and Equifax Business. Pull personal credit reports if you’re wary. Call the references applicants list on their app. Be 100% sure that someone is honest and qualified before you trust anyone in a buy now, pay later situation.

How to Pull a Business Credit Report From D&B

To get a full D&B credit report and PAYDEX Score, visit D&B’s website and select your plan. It will cost from $61.99 to $799 per year, depending on how many reports you will need.

How to Pull a Credit Report From Experian Business

To obtain an Experian Business credit report, go to Experian’s website, search for the business (be sure to select Other Business), and choose whether you would like a one-time report for $39.95 or $1,495 to $1,995 per year (for anyone who needs more than three reports monthly).

How to Pull a Credit Report From Equifax Business

To receive an Equifax Business credit report, visit Equifax’s website and fill out the contact form on the Small Business Credit Report page to connect with the sales team — they can hook you up with the right plan.

2. Consider Reporting Payments to Business Credit Bureaus

As a courtesy to your customers and other creditors, consider reporting on-time payments to the business credit bureaus. Doing so will help your customers establish and grow their business credit profile, and can be a selling point that places you ahead of your competitors.

Furthermore, reporting slow, late, or missed payments help protect other businesses (like yours) from disreputable companies that tend to stiff their creditors on payments.

So, you might want to consider reporting on-time payments to D&B, Experian Business, Equifax Business, and Creditsafe — this typically requires that you join their trade exchange programs.

How to Report On-Time Payments to D&B

To report account activity to D&B, you must either be a part of their DNBi or PPP programs or join the trade Exchange Program. To sign up for D&B’s Trade Exchange Program, you need at least 300 active credit customers.

To apply, either visit D&B’s website or call 1-844-201-9144 to speak to your relationship manager.

How to Report On-Time Payments to Experian Business

Experian doesn’t charge creditors for reporting, but they have requirements such as, members must report a full portfolio monthly. To become an Experian reporting partner, shoot an email to bisdatareporting@experian.com.

How to Report On-Time Payments to Equifax Business

You can register to report payments to Equifax via the registration page on their website or by calling 1-800-831-5614 (Select option three to speak to the correct department).

How to Report On-Time Payments to Creditsafe

Creditsafe is not the most popular business credit reporting solution, and will never hold more weight than one of the primary bureaus. Still, third-party data continues to become more and more desirable to creditors. So, after you pull an Experian Business or Equifax Business credit report, you might also pull from Creditsafe.

Why I mention them here, is because you can join their Trade Exchange Program a bit easier than the other bureaus… and they can automate reporting through your accounting software. Here’s how to leverage the program:

Claim your company on Creditsafe’s directory
Login to your Creditsafe account
Authorize your accounting or ERP software

Many popular accounting tools will easily integrate (Xero, Quickbooks, and Freshbooks, to name a few). If the platform doesn’t integrate with your software, or if you don’t use accounting software, you can still manually report.

3. Enlist a Third-Party App or Platform to Manage Your Credit Program (At Least Think About it)

If the sole reason you want to offer business credit is to get more high-ticket sales, and you have no desire to earn income from fees and interest, explore your options for third-party credit offers, since they will make your job so much easier.

Your choices vary greatly and depend on your business offer. For example, check out Affirm, Klarna, and Afterpay to see if your business might qualify to offer customers their buy now pay later terms — if so, they will do everything for you.

If you do want to manage your credit program, it’s a good idea to explore debt collection offers so that you might outsource that portion of your work (I can almost guarantee you will have to collect on missed payments at some point).

Summary

To extend business credit to your customers, you can use the business credit application template at the top of this page to get started — note that all legal documents should be reviewed by an attorney. And, printable applications are great, but so are online applications.

If you’re just starting down the path to offering business credit to your customers, remember to do your due diligence and verify everything on the application. Think about reporting on-time payments to business credit bureaus. And, consider enlisting help from third parties (if you can find an offer that meets your needs).

Do you have a customer or client who didn’t quite meet the mark and got rejected for a line of credit through your program? Invite them to join Business Credit Workshop to learn how to boost their business credit score and obtain up to $100K in business credit in as few as 30 days.

Business Credit Repair: How to Get Your Business Credit Back on Track

By Joe

Since you’re interested in repairing your business credit, I’ll assume that you had a good credit score at one point. Now, for one reason or another, it has taken a hit (If that’s not the case, and you haven’t established credit yet, you might want to start here).

First of all, if your business credit is not so great, don’t beat yourself up — it happens more than you would think.

Don’t believe me? According to US Courts, in 2021, a total of 14,347 businesses filed bankruptcy in 2021. If you think this might have been a COVID-related spike, think again — the same source cites 23,157 business bankruptcy filings in 2017, a couple of years before the pandemic began.

But, I don’t want you to focus too long on anything negative. Instead, let’s be solution-oriented and explore how business credit repair works.

Bear in mind that business credit is not the same as personal credit and some of the laws protecting consumers don’t apply, which isn’t necessarily a bad thing. In fact, business credit is much easier and faster to restore than personal credit.

This is what’s in store:

What is Business Credit Repair?
- The Golden Rule of Good Credit
8 Steps to Repair Your Business Credit
Final Thoughts

Now, here’s everything you need to know to restore your business credit.

What is Business Credit Repair?

Business credit repair or restoration typically refers to a third-party service that attempts to get negative information, like missed or late payments and defaulted accounts, removed from business credit reports in exchange for a payment.

A business might have a net 30 account on their report that shows as a late or slow pay that they want to clear up. Or, maybe they need to remove an old address from the credit bureau’s record. Business credit repair organizations might offer a service to help for a monthly or one-time fee in addition to any settlement offers they submit to creditors.

Luckily, in most cases, these services are not needed. You can easily restore business credit on your own, which is the primary focus of this guide.

The Golden Rule of Good Credit

Whether you’re talking about business or personal finance, here’s the golden rule of good credit: Make your payments to lenders on-time, as agreed.

While this may seem too obvious, it’s crucial. If you make your payments to lenders as agreed, you are very likely to maintain a high credit score.

So, when life gets in the way, and you can’t make business loan and credit card payments like you expected, stay in communication with your lenders. As soon as you think you might miss a payment, pick up the phone and reach out to ask about your options.

If you’re reading this early, at the first sign that your credit is about to slip — you never know — the above advice might be enough to keep you afloat while you figure out your finances.

If you’re already sitting on a low business credit score, it’s time to take action.

8 Steps to Repair Your Business Credit

Here’s the process, step-by-step, to restore your business credit.

1. Review Your Business Credit Reports

The first thing you need to do when restoring your business credit is get an up-to-date copy of each of your credit reports from the business credit bureaus.

There are three main business credit bureaus that most lenders will use to determine whether or not your company is worthy of financing.

Get a copy of your report from each bureau:

Dun & Bradstreet: Access your PAYDEX report
Experian Business: Get your Experian business credit report
Equifax Business: Obtain your Equifax business credit report

Download or print copies of each report so you can thoroughly review for accuracy.

You may be able to obtain copies of your business credit report at no cost if you have recently been denied financing. Within 90 days of your denial, mail a request to the creditor and ask that they send a copy of your business credit report to you.

Set up a free account with Nav to access and monitor your Experian and Dun & Bradstreet business credit summaries.

Note: In addition to these three bureaus, I have heard of a couple of outliers here and there. But, I don’t recommend you pay them any attention (unless you are getting denials after cleaning up the main 3). Every business credit lender I’ve ever worked with has used one of the above to determine a company’s creditworthiness.

2. Note Every Item You Want Removed From Each Report

The more organized you are at this stage, the better. Examine every potentially negative item on your report and read through your company details for inaccuracies.

Incorrect and negative information on your business credit report not only decreases your chances of obtaining financing, but adds additional hurdles. For example, you might pay higher insurance premiums, be charged higher interest rates on the funds you do receive, and find it difficult to rent equipment or office/retail space because of a mistake on one of your reports.

Look for any slow or late payments on your accounts that might affect your score. In addition, look for old business addresses or outdated contact information that you would like removed.

For each report, list each item that you would like reviewed for removal. Include the following:

The account number
The date of the disputed information
Explanation of the inaccuracy
Company that provided the disputed information
Type of disputed information (contact, missed/late payment, etc.)

Once you have completed your list, you’re ready to move forward.

3. Dispute Entries in Your Dun & Bradstreet Report

For Dun & Bradstreet, the simplest option is to dispute incorrect items online via your account dashboard. You can pay for an upgraded account, but all you need is the free version (there aren’t many scenarios where I recommend paying for a premium account).

Simply login to your account > navigate to D-U-N-S Manager > scroll down to Trade Payments in the left sidebar.

Your trade accounts will appear in the dashboard with an option to select from the dropdown under Initiate Investigation.

How long does it take to fix business credit?

Follow the prompts to continue at the bottom right of the screen until you come to the summary page.

Accept the terms of service, then click Submit.

You will receive a reply relatively quickly, letting you know whether the investigation has resulted in a removal of the items you requested or not.

4. Dispute Entries in Your Experian Business Report

The best way to execute Experian business disputes is to print your full, updated report, circle the incorrect information, and write-in the reason you are disputing each item.

Scan and email the edited report to businessdisputes@experian.com, along with any additional documentation you have to support your request for information removal.

Alternatively, you can open an account with Experian business, then call in to initiate a dispute: (888) 397-3742. When you place the call, have your list handy so that you can accurately indicate which items you want the bureau to investigate.

5. Dispute Entries in Your Equifax Business Report

Equifax disputes can be handled online or via mail, email, or phone. Recently, I’ve seen email disputes resolved within about one week.

Equifax Inc.

P.O. Box 740249

Atlanta, GA 30374-0249

commercialdisclosures@equifax.com

(800) 727-8495

Download business credit dispute template PDF

6. Reach Out Directly to Creditors

After you’ve waited about a month after initiating your dispute(s), or you’ve heard back from the bureaus, are there any red flags still on your reports? If so, it might be worth reaching out to the creditor directly.

In some cases, you may be able to negotiate a deal to get negative information removed from your account. For example, if an account shows unpaid, you might be able to get the creditor to report the account paid in full with a lump sum payment.

If you do negotiate a deal like this, be sure that you get the agreement in writing, including the date by which the creditor will report to the credit bureaus.

7. Establish New, Healthy Accounts

A crucial ingredient for a strong business credit score is to have healthy accounts. If your credit profile is sparse, it might be a good idea to add a few accounts that report on-time payments to the business credit bureaus.

After your reports have been cleaned up, you might benefit from opening new accounts — depending on how established your business credit profile is.

To get started, see our list of 41+ Companies That Help Build Business Credit.

Be sure to keep any revolving accounts below 30% utilization for an optimal impact to your credit score. For example, if you have a revolving business credit card with a $30K limit, never use more than $10K at a time. Better yet, pay the card off in full each month.

Ask for credit limit increases on revolving accounts. From time to time, some creditors will automatically increase your spending limit. Other creditors require that you make the requests for increases yourself. If you can request an increase from your account dashboard, go ahead — if not, pick up the phone and call customer service and ask if you qualify for a higher spending limit.

8. Continue to Monitor Your Business Credit

Like personal credit, it’s important to monitor your business credit and keep an eye out for inaccuracies. If you haven’t already, sign up for a Nav account.

Nav can help you monitor your business credit… and more.

Get actionable insights into credit and cash flow
See relevant financing recommendations
Research customer and partner credit profiles
Boost your chances of obtaining business credit

It doesn’t hurt to maintain accounts with all three bureaus, but you can accomplish most of what you need from a single dashboard with Nav alone.

Final Thoughts

Credit repair is important when you want to increase your business financing limits. Start by reviewing your reports from the three major business credit bureaus. Then, dispute any inaccuracies you find on your reports. If you need to, reach out to creditors directly to clean up any accounts in poor standing. After that, maintain healthy accounts, and monitor your business credit to watch for new inaccuracies or mistakes.

To learn how to obtain $100K in business credit in 30 days, join Business Credit Workshop today.

Read This Before You Hire a Business Credit Coach [Quick Guide]

By Joe

You’ve probably landed here because you’re thinking about hiring a business credit coach. In most small business owner/startup scenarios, we recommend you do because business credit can help you obtain the working capital you need to improve, grow, and scale your operations. But, before you take the leap, you need to know a few things including alternative options and what to expect.

Here, you’ll learn everything you need to consider before you hire a business credit coach. This is what’s covered:

What is Business Credit?
What are Your Alternatives for Business Capital?
What is a Business Credit Coach and How Can They Help?
Frequently Asked Questions
Are You Ready to Pull the Trigger?

What is Business Credit?

Business credit refers to a company’s ability to access credit cards, lines of credit, and loans. It is based on the business’ creditworthiness, which is typically determined by a business credit score. Business credit bureaus and business divisions within consumer credit bureaus measure business credit separately from personal credit.

What are Your Alternatives for Business Capital?

Most small US businesses are launched and operated using personal capital, which includes personal cash, savings, and credit. Business credit frees up more opportunities for growth. But, it’s not your only option. You should know what alternatives are available before you invest in something you might not necessarily need.

So, here’s a quick list of your options and summaries of what each entails.

Personal debt financing – A high FICO score through consumer credit bureaus can give business owners access to personal loans, lines of credit, and credit cards that can be used to fund business ventures. Funding amounts are typically lower than with business credit.
Working capital loans & merchant cash advances – Short-term loans can be accessed through certain lenders based on business income or accounts receivable for urgent funding needs. Interest rates and fees are usually especially high.
Venture capital (VC) & angel investing – Funding can be obtained through private investors and VC firms. In most cases, these investors take partial ownership over the business, or at least a share of future profits, in exchange for funding.

Business credit is the only funding option (aside from reinvesting profits) that helps owners maintain freedom and control over their business with reasonable costs and is not limited by personal credit.

What is a Business Credit Coach and How Can They Help?

Now, what do credit coaches do? A business credit coach will learn about your current financial situation and hear your struggles. They will help you set business credit goals and lay out a plan for you to achieve them. A good coach will then help you take the steps needed to get to the end goal and help you overcome any obstacles that you might encounter along the way.

From establishing your business properly to getting business credit-ready and obtaining large lines of credit, capable business credit coaches know the ins and outs of the business credit world. They can help you ensure that you file the right paperwork, stay in compliance with regulations, and tell you when and how you need to take action.

Frequently Asked Questions

Before we wrap up, let’s take a look at brief answers to some of the most common questions that I hear from my business credit coaching clients.

Can you repair business credit?
- Yes, as with consumer credit, business credit restoration can help you improve your credit score and increase your business’ creditworthiness.
Can you get business credit with an LLC?
- Yes, you can get business credit with an LLC or any other corporation. In some cases, you can get business credit with Sole Proprietorships, but we always recommend that our clients establish their company as a corporation.
Can I use my EIN to apply for credit?
- Yes, many business credit applications ask for an EIN. We also teach how to actually get business credit with just an EIN.
Is business credit linked to personal credit?
- Yes, most (not all) business credit lenders require a guarantor who will be responsible to repay the debt if a business fails to do so. The guarantor on a business line of credit, loan, or credit card is usually the owner… but not always.

Are You Ready to Pull the Trigger?

At Business Credit Workshop, we’re not like some of the other coaches. There are a few ways that we go above and beyond for our clients. For example, we have a large database of thousands of local community banks and credit unions that offer business credit. And, we have interviewed every one of them.

Next, we have a support system made up of Business Credit Workshop students and clients. In our network, those seeking business credit help each other out. Here, you can learn from real people who are actually seeing success.

Finally, we use a trusted 7-step process to get clients $500K+ in business credit without ever having to walk into a bank. If you’ve made it this far and you’re 100% certain that you’re ready to pull the trigger, complete your business credit coaching application today.

41 Companies That Help Build Business Credit [Beyond Net 30 Vendors]

By Joe

Countless SMB owners and startups are on the hunt for companies that help build business credit. With a quick Google search, it’s pretty easy to find lists of vendors that report on-time payments to business credit bureaus. But, once these vendors are discovered, there’s not a ton of information that explains precisely how to leverage these vendors to improve your business credit score and obtain large credit lines.

Surely, that’s what you’re looking for. The process of building business credit isn’t difficult, but it is complex and requires guidance. So, are there companies that can actually help you build business credit? And, where can you find them?

Yes, there are — And, you’ve found the [ultimate] list! Here, you’ll find net 30 vendors, business credit coaching & services, and business credit monitoring companies that can help you build business credit. The companies listed here are dedicated to helping you establish, build, and procure business credit; they can play a crucial role in your credit building journey, if that’s what you’re after.

Here’s what’s in-store:

First, Learn About Net 30 Vendors [+List of 31]
Next, Business Credit Monitoring Companies
Finally, Business Credit Coaching & Service Companies

Get ready to find out exactly where to turn when you want to establish, build, and obtain large lines of business credit.

First, Learn About Net 30 Vendors [+List of 31]

If you’re not familiar with net 30 vendors, they are merchants that allow you to essentially buy products and services now and pay later via business tradelines — typically 30 days later. In the business credit building world, you’re looking for companies like this that also provide the opportunity to have on-time payments reported to business credit bureaus.

Companies like Staples and HD Supply can actually report on-time, net 30 payments made on behalf of your business to business credit bureaus. We have a list of 31 (and growing) companies that you can order products and supplies from, and pay on time to boost your business credit. You can find it here: Using 30 Day Net Vendors to Build Your Business Credit Score

Next, Business Credit Monitoring Companies

When building your business credit score, you’ll need to see what’s happening with your business credit report. In order to do this, you need to know which companies can help you monitor business credit. There are more than a handful of reputable brands who do just that.

First, which business credit bureaus are used by lenders? The three top credit bureaus for business loans and lines of credit are Dun & Bradstreet (D&B), Experian Business, and Equifax Business. A couple of the following companies monitor reports from all three bureaus while the rest monitor reports from just one or two.

1. Dun & Bradstreet’s CreditSignal™

D&B is the top business credit bureau. Most reputable lenders will use your D&B report to determine your company’s creditworthiness. Naturally, you can monitor your D&B credit score through D&B. While you can not monitor Experian nor Equifax reports and scores with these tools, I always recommend that businesses create an account and claim their business (once a company is business credit-ready, of course).

2. Experian Business

Experian is another credit bureau that is dedicated to personal and business credit. Businesses can monitor their reports using Experian’s online business tools. This is pretty cut and dry.

3. Equifax Business

Like Experian, Equifax is a credit bureau that monitors both personal and business credit. And, you can claim your business listing online when you want to monitor your business credit report.

(Note: Transunion does not currently offer business credit monitoring.)

4. Nav

Nav is the tool I recommend my clients use for business credit monitoring. With their free tools, you can monitor business credit from all three credit bureaus: D&B, Experian, and Equifax. The company has both paid and free plans for all business credit monitoring needs.

5. Credit Suite

While the platform is not as robust as Nav, Credit Suite has a credit monitoring plan that costs $24 per month and empowers companies to monitor reports from all three business credit bureaus. The monitoring software is also available as a white label product for resellers.

Read more about Credit Suite’s full offer below.

Finally, Business Credit Coaching & Service Companies

Now, you’re ready for the meat and potatoes. These companies actually work one-on-one with you to establish and build your business credit score so that you can obtain the large lines of credit that your business needs.

By the end of the programs, they might teach you how to build credit so that you can use the right tools and tactics to successfully apply for large business lines of credit. Others will help you secure funding through their partners.

1. Credit Suite

Yes, Credit Suite was already mentioned above as a credit monitoring company. But, monitoring is not their core service. In fact, Credit suite is a “consultation service” and software system designed to help businesses build credit. The system is also offered as a white label option for software sellers.

For more information about costs and to read a full overview, read: Expert Weighs in on Credit Suite Reviews: Is the Service Worthwhile?

2. Fund & Grow

Fund & Grow is a consulting program designed to help small business owners, startups, real estate agents, and self-employed individuals build credit. The program seems to be very well organized and claims to help businesses with every step of the process from boosting their credit score through applying for a loan. They do charge origination fees.

3. LenCred

LenCred is more of a funding acquisition partner than a business credit builder, but they offer financial reviews, education, and access to startup loans and working capital. All of their advisors are “FICO-certified.”

4. Business Credit Builders

The first offer from Business Credit Builders is a free business credit building audio, which they value at $97. Their program teaches companies to be credit ready, separate personal and business credit, and build business credit reports and scores. The goal is to help you get lines of credit and cash loans.

5. Midwest Corporate Credit

Midwest Corporate Credit caters to new businesses, established companies, and real estate investors. Their program helps clients get the funding they need and teaches them how to best use the capital to their advantage. In all, they’ve helped businesses secure over $250M in small business loans and lines of credit.

6. Business Credit Workshop (Me)

Business Credit Workshop started as an in-person workshop to teach business owners how to build business credit the right way. Materials cover a comprehensive, seven-step process for establishing your business, getting business credit-ready, net 30 vendors, how to set up banking accounts, and applying for credit. Learn how to build business credit the right way.

In our content and via our workshop and coaching, we share the answers to the following questions and more:

How can I improve my business credit score?
What credit score do I need to get a business loan?
What is a bad business credit score?
Can I build business credit without a DUNS number?
How much should it cost to run a D&B report?

If you’re not sure, find out if you should hire a business credit consultant.

→ And, if you’re ready to learn precisely how to obtain $100K in business credit in 30 days with NO origination fees, join Business Credit Workshop.

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