Credit reporting

[Copperheadroad]

It would be nice if square reported to credit to help raise your credit score, but…..I am tapped out in my credit options and square gives me the opportunity to acquire credit options that I can get nowhere else!!! I am so proud of being a member of square and am constantly telling other small businesses about them!! Keep up the good job that you are doing !! 

[HC_Charlie]

Hello @Copperheadroad thanks for your post. Have you seen this post here by @Minion ? It's a great article about building credit for your business. I learned a lot myself when I read this, and it's time for me to revisit it to see if there is anything I should be doing for my business this year. Just start small and keep working at your business and over time you can build up some credit.

Square does offer Loans through their Banking products. If you are ever offered a Loan product you should see a notification in your Dashboard. For more info on Square Loans check here.

[Minion]

HI @Copperheadroad , Welcome to Square Community. 

You should find some relative information in that thread that @HC_Charlie  listed.  While some of it may be a bit out dated, the main goal is trying to keep business and personal credit separated.   

Generally speaking though, a loan like Square would be probably put a small ding on your personal FICO score until it was paid off,  

I am still learning myself, but the consensus seems to be you want everything you can to report to your business credit profile and ONLY report to personal if you default. 

Within the last month my business was approved for a Walmart Community card and Home Depot Commercial Account (net 30 type accounts) but both with no personal guarantee.   My goal is to get approved with Citizens Bank and their Business MasterCard by April with only a soft pull on my personal report.