How to build business credit in Canada.

3 minute readUpdated October 13, 2026By the NorthAxis Capital team

What is business credit?

Business credit is your company’s record of how it handles money it owes. Does it pay suppliers and lenders on time? How much credit does it use? How long has it been open?

In Canada, Equifax and Dun & Bradstreet keep business credit files. They are separate from your personal credit report. How to check yours.

Why does it matter?

• Better terms. Higher limits, better rates and less security needed.
• Less personal risk. Lenders lean less on your personal credit.
• Better supplier terms. Suppliers check credit before they let you pay in 30 or 60 days.

7 steps to build business credit

1. Register or incorporate your business. Use the same legal name, address and phone number everywhere.
2. Get a business number from the Canada Revenue Agency. Use it on accounts and applications.
3. Open a business bank account. Run all business money through it.
4. Get a business credit card. Keep the balance well below the limit.
5. Open trade accounts with suppliers that report your payments. Pay on or before the due date.
6. Pay every bill on time. Payment history matters most.
7. Check your reports once a year, and fix anything that’s wrong.

Your personal credit still counts

For most small businesses, lenders check business and personal credit. Mistakes on your personal report can quietly cost you a loan. What score do lenders want? Our credit repair service can help you fix wrong items.

Mistakes to avoid

• Mixing personal and business spending
• Running credit cards close to the limit
• Applying for lots of credit at once
• Forgetting small bills that end up in collections
• Never checking your reports

Want a clear picture of where you stand? Talk to our team.