CreditStrong Business Credit Review

CreditStrong Business Credit Review

CreditStrong is an online lender that provides credit builder loans to consumers and businesses. Their business accounts help companies with limited or bad credit establish a positive financial tradeline and improve their credit scores.

If you’re considering using a credit builder loan to work towards good business credit, our CreditStrong review will tell you everything you need to know about them.

(See our CreditStrong review if you’re interested in their consumer products.)

Our Verdict: CreditStrong is a powerful product for building business credit. And with the new low price plans, is accessible for even cash-strapped small businesses, too.

 

CreditStrong Business Pricing and Plans

CreditStrong Features

Option 1

Option 2

Option 3

Option 4

Option 5

Option 6

Tradeline Reported

$2,500 installment loan

$2,500 installment loan

$5,000 installment loan

$5,000 installment loan

$10,000 installment loan

$10,000 installment loan

Monthly Payment

$100

$115

$200

$220

$400

$440

Maximum Payment History Reported

25 months

25 months

25 months

25 months

25 months

25 months

Loan Interest Rate

0%

13.26%

0%

8.96%

0%

8.96%

Business Credit Bureau Reporting

Equifax, PayNet, and SBFE

Equifax, PayNet, and SBFE

Equifax, PayNet, and SBFE

Equifax, PayNet, and SBFE

Equifax, PayNet, and SBFE

Equifax, PayNet, and SBFE

One-Time Origination Fee

$349

$149

$549

$199

$749

$299

Source: CreditStrong

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How Does CreditStrong Business Work?

CreditStrong Business helps companies improve their credit scores with credit builder loans. They’re like traditional installment loans, but CreditStrong keeps the proceeds in a locked savings account as collateral until you cancel or complete the repayment term.

Using the loan proceeds as coll