Credit Requirements for Business Electricity

 What’s involved in a credit check?

Typically, you’ll need to provide your Federal Employer Identification Number (EIN) or DUNS Number. If your business is new or has experienced financial difficulties, you might not meet the supplier’s credit requirements.

What if my business doesn’t qualify?

If your business credit isn’t stellar, don’t panic. You might be asked to pay a deposit, usually calculated as a portion of your estimated annual electricity usage. However, there are alternatives to consider:

• Demonstrate a Good Payment History: If you have a positive payment history with another utility or electricity provider, you might be able to use that to your advantage. Sharing past bills can help establish your reliability.
• Leverage Personal Credit: Some suppliers might allow you to use your personal credit history to guarantee payment for your business electricity.

Remember: Each electricity supplier sets its own credit policies. If you’re concerned about qualifying for a business electricity plan due to credit, don’t hesitate to contact the provider. They can help you explore your options and find the best solution for your business.