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Build business credit using your company’s EIN
Build $5,000 to $50,000 of business credit
Establish business credit for your company without paying interest
Pay NO INTEREST with a 0% interest-free business credit builder account
We are the only bank in the nation that gives small business owners the opportunity to build payment history on a large bank loan – without paying interest.
CS Business offers 25-Month or 50-Month 0% Interest Rate Credit Builder Accounts
- A CS Business credit builder account is a credit builder loan with a 0% interest rate
- Pay a one-time fee
- Make 25 or 50 monthly payments
- 100% of every monthly payment builds your company’s savings
- PAY NO INTEREST
- Unlock your savings in 25 or 50 months*
All plans build commercial installment loan credit and payment history and are reported as a financial tradeline
* CreditStrong for Business is a product of Austin Capital Bank, Member FDIC. Loan proceeds are locked in an FDIC-insured savings account to secure the credit builder loan until it is repaid. Loan proceeds are unlocked when loan is closed or repaid in full.
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Why build business credit for your company?
SBA loans are the ‘gold standard’ of small business loans. With an SBA loan your company can obtain operating funds with favorable rates and long repayment terms of up to 25 years, minimizing required monthly payments and maximizing your financial flexibility.
The SBA requires a FICO SBSS credit score for every SBA loan approval. If you ever want to get approved for an SBA loan, you’ll need a FICO SBSS credit score for your company of at least 155, but most likely 160 to 180+. FICO SBSS scores range from 0 to 300.
A FICO SBSS score has three main components:
1. Your personal credit profile
2. Your company’s business credit profile
3. Current financial metrics and history for your company
If you don’t have a business credit profile, your company’s FICO SBSS score will be lower because it will be calculated using ONLY on your personal credit and your company’s financials.
By establishing and building a strong business credit profile for your company, you will increase your FICO SBSS score and your chances to be approved for a SBA loan.
If you need help with your personal credit, CreditStrong Revolv can instantly improve your credit utilization and MAGNUM can maximize your amount of credit and payment history – used together they can rapidly increase your personal credit score.
Choose from 25- or 50-month account options
25-Month Business Credit Builder Accounts
| One time Fee | Monthly Payment | Amount of Credit Built |
|---|---|---|
| $349 | $200 | $5,000 |
| $549 | $400 | $10,000 |
| $749 | $1,000 | $25,000 |
| $999 | $2,000 | $50,000 |
PROS
+ 100% of every monthly payment builds savings and payment history
+ 0% interest rate credit builder loan – no interest is charged
+ Build 25 months of payment history for a financial tradeline
+ Build a large amount of credit in a short amount of time
+ Shorter payment commitment than 50-month accounts
CONS
– Higher monthly payments than 50-month accounts
– Builds less payment history than 50-month accounts
50-Month Business Credit Builder Accounts
| One time Fee | Monthly Payment | Amount of Credit Built |
|---|---|---|
| $349 | $100 | $5,000 |
| $549 | $200 | $10,000 |
| $749 | $500 | $25,000 |
| $999 | $1,000 | $50,000 |
PROS
+ 100% of every monthly payment builds savings and payment history
+ 0% interest rate credit builder loan – no interest is charged
+ Build 50 months of payment history for a financial tradeline
+ Build a large amount of credit with a small monthlypayment
+ Lower monthly payments than 25-month accounts
CONS
– Longer monthly payment commitment than 25-month accounts
– Builds cash reserves/savings slower than 25-month accounts
All credit builder accounts:
- Include a 0% interest rate credit builder loan
- Report a 25- or 50- month bank issued commercial installment loan
- Report a bank-issued financial tradeline account
- Report account and payment activity to the major business credit bureaus, including: Equifax, Experian, PayNet, and SBFE
- Include a free monthly Equifax Business Delinquency Financial Score grade
- Can be cancelled at any time for any reason with no fee or penalty
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CS Business is the easy and reliable way to establish and build a large financial tradeline for your company
There are two types of business credit. It is likely that your company needs both:
1. Financial tradelines
2. Vendor tradelines
Financial tradelines are extensions of credit from a bank or financing company. For example, a loan or line of credit.
Vendor tradelines are extensions of credit from a merchant or supplier. For example, 2/10 or net 30 terms or paying an invoice.
It’s critical to keep your business credit separate from your personal credit
Some business lenders require a personal credit score, some require a business credit score, and some require both.
Build business credit for your company with its EIN for any of the following entity types:
- LLC
- S-Corp
- C-Corp
- General partnership
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If you are a Sole Proprietor, you can build a large amount of personal credit for business purposes with MAGNUM from CreditStrong.
Build from $2,000 up to $30,000 of personal credit starting at just $25/mo.
How does a CreditStrong Business credit builder account work?
Step 1: Apply for an account
Open an account online in just minutes. Enter your basic personal and company information. There is no hard pull on your personal or business credit.
Step 2: Select a plan
Select a credit builder account that fits your objective and budget. An installment loan financial tradeline is opened in your company’s name and reported to the major business credit bureaus using your company’s EIN, establishing a credit profile for your business.
Step 3: Build credit
Make on-time monthly payments. Your payment history is reported to the major business credit bureaus, building your company’s credit history and cash reserves/savings.
Step 4: Unlock savings
Every monthly payment builds payment history and savings. Unlock savings at maturity or cancel anytime with no penalty.
* CreditStrong for Business is a product of Austin Capital Bank, Member FDIC. Loan proceeds are locked in an FDIC-insured savings account to secure the credit builder loan until it is repaid. Loan proceeds are unlocked when loan is closed or repaid in full.
Want to know more?
No chat bots here.
Chat with an Austin, Texas based customer support specialist
- Hit the ‘help’ button below to chat with aCS Businessproduct expert Monday –Friday 8am to 5pm CT
- After hours leave a message and we’ll follow up with you the next business day
Prefer to talk?
- Call us at 833-850-0850 Monday – Friday8am to 5pm CT
