How can a business build credit with an EIN?
- Register your business and get an EIN.
- Apply for a DUNS number.
- Open a business credit card.
- Establish trade lines with your suppliers.
- Pay creditors early.
- Borrow from lenders that report to credit bureaus.
- Avoid judgments and liens.
Can I use my EIN to get a loan?
Can I Get a Loan with Just My Business EIN? Yes, there are certain circumstances where a lender will not use your personal credit score, but only your EIN as a factor in lending to you. Note that they won’t just use your EIN in isolation, as there are many factors that go into qualifying for a small business loan.
Does your EIN have a credit score?
While your personal credit score is tied to your Social Security number, your business credit score is tied to an EIN. This helps you keep your personal financial information private while you build and maintain your business credit score.