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I am going to either change the name of my company or create a new one if I have to.

 

Does anyone know how that would affect the current business credit I have already?

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1 hour ago, nolimits said:

I am going to either change the name of my company or create a new one if I have to.

 

Does anyone know how that would affect the current business credit I have already?

First post here but I've found the resources here to be helpful.   On that note, I am currently changing my business name.

 

I am setup as an LLC and I'm filing an amendment to my Articles of Organization to make the business name change.   I've spoken to my bank, D&B, and Experian Business.  They all have said this should not have any impact on my business credit. 

 

I will be submitting the Amendment to the Articles of Organization on Monday to the Secretary of State's office.  I have a press release ready to go regarding the name change that'll get sent out through a presser distribution service I use and I will submit updates with D&B and Experian Business once the official record updates with the secretary of state.

 

Additionally, it's necessary to contact the IRS and advise them of the name change for your EIN / FEIN.   The EIN / FEIN should remain the same. 

 

Unless it's absolutely necessary to update your business name, you may want to look at using a fictitious name / assumed name (aka DBA - Doing Business As).   I'm a Kentucky LLC and here it's an assumed name filing with the Secretary of State office.  

 

If I run into any snags, I'll update the community, but I've done my due diligence, consulted my business attorney, and spoken with my bank and two credit agencies.  

 

A330Heavy 

 

Tradelines:

ULine                               D&B   Experian             NET 30 

Quill                                not yet reported           NET 30

FedEx                              not yet reported           NET 30   

FedEx Office                   not yet reported            NET 30

UPS                                 not yet reported           NET 30

Amazon/SYNCB              D&B   Experian             $5000 Credit Line - NET 55  - NO PG

 

2 unknown "cash account" and 1 unknown "cash own option" also on D&B -- have no ideas what these are.   In business 2.5 years. 

 

Recently Denied:

Staples NET 30 by Citibank - Applied NO PG

LOWES Commercial NET 30 by SYNCB - Applied NO PG

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Changing would require updating all accounts and possibly CRA’s if they correct on their own. Can sometimes cause a split file.

 

Creating a new company is just that, a new company. You start fresh with credit.

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