It’s a challenge for small businesses to build credit. We can help.

How do I build credit for my small business? That’s a question we frequently hear, and we have lived at UpgradeUSA ourselves.

We’re taking steps to make it easier for small businesses across the US to start building credit.

Obtaining and building credit is one the biggest challenges that any new business faces. Because many people don’t have the resources themselves to start a business, they often seek capital from other sources: from the venture capital community, from friends and family – or, more commonly, from banks. It’s almost impossible for a new business to get credit in the business’s name alone.

As a result, small business owners often find themselves in a Catch-22 situation. For at least the first two years of business, they find that they can’t build business credit unless they have a credit history, and they can’t get a credit history without another business extending them credit. They can often go for years having built no history of credit, good or bad. They may have great personal credit, but that doesn’t always help the business build credit.

Even business credit cards are harder to come by for a new business.

While there are a few credit cards that specialize in small business, their terms are often very steep and the credit lines are low…and even then, it doesn’t always help when trying to build business credit with important organizations like Dun & Bradstreet. Multiple lines of credit, with payment histories, are always better than one.

How it works

UpgradeUSA Helps Small Businesses Build Credit

Your friends at UpgradeUSA have an answer. In fact, according to our Founder & CEO, we ran into this very problem when we were a new business. So, building on our heritage in helping consumers build credit, we’ve developed a solution to help other small businesses build the credit they need as they grow and scale their operations.

UpgradeUSA provides a business leasing service for computers and technology that businesses need to run and stay competitive. We specialize in 21- and 33-month lease payment plans for brand-new technology equipment at reasonable monthly prices. The program is great for businesses that are looking for help in taking large expenses and turning them into bite-sized pieces. And, we report your small business payment history to Dun & Bradstreet and Experian Business, which is critical to building business credit history.

What does it take for my small business to start building business credit?

Here are our basic steps for helping your small business build credit through one of our technology lease programs:

  • Fill out our online application
  • Include your Federal Tax ID Number (and DUNS number if you know it)
  • Tell us how long you’ve been in business. If less than 2 years, we’ll most likely need one of the business owners to act as a personal guarantor (this is pretty standard procedure for any new business to have a trade line and build business credit).
  • Give us some sense of what kind of equipment you’ll need. A sample of our product selection is here, although for businesses we have a much larger catalogue of hundreds of thousands of products.
  • Give us permission to review your credit history (business credit history if more than two years, business owner’s credit history if less than two years)

You’ll receive a response back from us quickly. If we can get you approved, we’ll email you an agreement to e-sign that contains information about the specific merchandise you’re looking for, and we’ll ship it after you make the first payment.

We are looking forward to hearing from you, and to helping your business build the business credit that you need to grow and scale!