Building and improving your business credit is a great way to help your business ride out inflation. Buying on credit means you can wait a bit (although not forever) to pay for goods and services. If prices go down, particularly during a grace period where you don’t have to pay, you’ll do better. But better terms will only come to your business if your business credit is good.
With commercial vehicle financing, business owners may need to personally guarantee vehicle loans. If you are a co-borrower the loan will most likely report to your personal credit report. Starting off by giving a personal guarantee means you can get money, and start building your commercial fleet now instead of later.
There are a lot of business grant options out there. However, when you consider how competitive they are coupled with the fact that many of them are not designed for startups, you start to see the need for another type of startup funding. Here are the top options for small business startup grants, and how to find other startup funding.