A Valuable Asset for Your Business
Here’s what thousands of small business owners are learning about business credit:
Business credit isn’t just the latest buzzword in financing; it’s actually one of the most valuable assets for business owners. Regardless of the age or size of your business, establishing and managing a separate business credit file is vitally important for the long term success of your company.
Millions of small business owners either don’t know their company has a credit score or have never seen their credit report. Many businesses have fatal flaws in their credit file keeping them from the financing they need. Don’t leave your financial future to chance; business owners that understand their credit reports are 41% more likely to get approved for financing.
What Does It Do
According to the SBA, when business owners properly manage their business credit it helps their enterprise in a variety of ways. A robust credit profile helps businesses:
- Secure Financing at Better Terms
- Get Needed Supplies at Affordable Terms
- Establish Professional Relationships
- Grow and Thrive
Where Does It Come From
If you’re like many business owners, you may not be aware that your business has its own credit score and history. Business credit, much like personal credit, is based on a number of variables like payment history, time in business, debt ratios, and more.
How to Manage Business Credit
The first step in managing your business credit is to determine whether or not you have an existing credit file. Many business owners have no separate credit history developed for their company despite being in business for years.
Sound business practices like keeping debt ratios low and paying bills and vendors on time will help you build a strong credit file for your business.
Learn What’s in Your Credit File Today
Don’t play games with your business, set it up for real success. Understanding your business credit file is an important first step. Whether you’ve been in business for decades or you’re a brand new start-up, you can benefit from understanding and developing a separate credit profile for your business.
We can help. In fact, we’ve helped over 33,000 businesses just like yours understand and develop their business credit so it works for them; helping them acquire financing, manage cash flow, take advantage of growth opportunities, and so much more.
Let’s Work Together.