Get Credit Where Credit Is Due

The expression originates from the late 18th century. It is an idiom that suggests you should recognize and commend someone for their accomplishments, contributions, or positive traits, even if you are not particularly fond of them or hesitant to do so. It emphasizes fairness, giving recognition, and acknowledging merit where it is deserved, often used to point out an unexpected positive aspect of someone or something. In the business world, it takes on a different significance. There is no better way to get credit where credit is due than by demonstrating that you have previously made payments to other companies and creditors.

When you apply for business credit — whether it's a business loan, a line of credit, a Net 30 account with a supplier, or even something as basic as opening a new business bank account — that creditor is going to look up your company with Dun & Bradstreet, Business Experian, Equifax for Business, or the Small Business Financial Exchange (SBFE). They want to know who you are, how much credit your company has already established, how well you pay your bills, and how much your scores and ratings have fluctuated over time. They want to know what history you have with other creditors. They don't have the time or resources to call a dozen references. They want one concise report that tells them everything they need to know at a glance.

Adding your prior and existing payment history to your business credit report helps your company get credit where credit is due by proving a strong financial track record, leading to better loan terms, lower interest rates, easier access to funding, improved vendor relationships (discounts, flexible terms) and protection for your personal credit, ultimately proving your business's reliability and lowering perceived risk for lenders and partners.

THE PROBLEM

The scores and ratings in your business credit report may not be as they could be, and that's because business credit bureaus are only going to "give you credit" based off of the payment history that flows into their system organically from auto-reporting third party creditors who they've contracted to report. Those auto-reporters may include banks, credit cards, corporations, utilities, municipalities, payment processors, or financial monitoring agencies such as SBFE. The problem is... the average small business owner has very limited interactions with any of those types of auto-reporting creditors.

I'll use my own company as an example. As a business owner myself, I typically only pay my credit card bills once a month. Some of those credit cards report to the bureaus, But there could be multiple purchases or payments made to dozens of vendors and suppliers on any one of those credit card statements. Those vendors and suppliers, many of which are small businesses themselves, are not likely to be among those who auto-report to any credit bureau on a month-to-month basis, even though those are exactly the transactions that speak loudest about how much my company spends and how well I pay my bills.

If the business credit bureaus aren't talking to your local, regional or national vendors and suppliers, then they aren't getting an accurate picture of your company's credit capabilities, and your company isn't able to capitalize off the money you've already spent. Your creditors and suppliers are the ones you have history with.

They know you.

They know your company.

They see your orders.

They see you in their shops.

They painted your office.

They shipped products to you.

They worked on your vehicles.

They repaired your air conditioner.

They updated your website.

They sold you advertising space.

They printed your staff t-shirts.

They sprayed your office for termites.

They repaired a broken window.

They changed your locks.

They sold you the chair you're sitting in right now.

There is no one who knows your credibility and creditworthiness better. They are your creditors, your tradelines, your suppliers. They're the best credit references you could ask for. If you're not tapping into those resources to build and boost your credit scores, then you're not getting the most out of the money you've already spent. You're not "getting credit where credit is due."

THE SOLUTIONS

Both Dun & Bradstreet and Business Experian offer services that allow business owners to submit their existing vendors and suppliers for verification.

D&B's Solution: Creditbuilder Premium ($199/mo) or Credit Insights Plus ($149/mo)

You will purchase the service above that allows you to submit your vendors for verification. D&B will send an email to the creditor and request their feedback on ten simple questions only they can answer (shown below.) If the creditor responds, D&B reviews the details and, if qualified, the information gets added into the D&B report. How they respond will impact the business credit scores and ratings accordingly — positively if you pay your bills or time, or negatively if you don't. The vendor only has to report once, but the payments that are added to your file will continue to impact your scores and ratings for up to two years.

Business Experian's Solution: Business Credit Advantage Report ($199/yr)

You will purchase the service that allows you to monitor your company's business credit for a full year. You have the ability to submit your vendors for verification, but only those who agree to report on all of their business customers can get added to the file. While this may not be the best option for your smaller vendors, it does help to link yet unreported banks, credit cards, loans and larger suppliers that may not have been previously linked to your credit file. Those payments will get re-reported and updated on a month-to-month basis.

THE QUESTIONS

1) Do you have an account for this company?

2) When was the account originally created?

3) What address do you have on file for this customer?

4) What are their terms?  Revolving | Discount | Net | COD | Other

5) Dollar value of the highest transaction in the past year?

6) What is the date of their most recent purchase?

7) Amount of the most recent purchase? Now Owed?

8) What product or service was purchased?

9) How do they pay?  Prompt | Slow | Prepaid | Delinquent

10) What is your name, title or position, and return callback number?

THE BENEFITS

Improved Access to Capital: A strong history signals reliability, making lenders more willing to approve loans, lines of credit, and leases.

Better Interest Rates & Terms: Lower risk translates to lower interest rates, smaller loan amounts, and more flexible repayment schedules, saving you money and improving cash flow.

Enhanced Vendor & Supplier Relationships: Suppliers are more likely to offer trade credit (like net-30 terms), early payment discounts, or better service when they see you pay on time.

Protection for Personal Credit: Separates business finances, preventing business woes from damaging your personal credit score and vice versa.

Increased Negotiating Power: A good score gives you leverage to negotiate more favorable terms with various business partners, not just lenders.

Faster Funding & Opportunity Seizing: Quick approvals mean you can secure funds faster to capitalize on business opportunities without delay.

Attracts Investors & Partners: Shows financial stability, making your company more attractive to potential investors or partners.

Builds a Valuable Business Asset: Your business credit profile becomes a tangible asset, enabling growth and financial resilience.

THE RESULTS

• Payments on business credit cards, loans, and even vendor invoices (tradelines) are reported to business credit bureaus like Dun & Bradstreet and Experian.

• That positive payment history is a significant factor (around 35%) in your overall business credit score. It's the best predictor of future payment behavior.

• Good payments lead to better terms and lower interest rates, which makes it easier to keep paying on time, creating a virtuous cycle.

I am always happy to help small business owners submit their vendors and suppliers for verification. If there is anything I can do to help boost your business credit scores, please don't hesitate to give me a call at 800-918-7505 or schedule an online appointment here: https://www.starpointcreditsolutions.com/book-online