build business credit

Equifax combines financial data with industry trade credit data, and adds utility and telephone data. It also adds public record information (bankruptcies, judgments, and tax liens).

More flexible than a term loan, an LOC can be harder to get from a lender, and with a higher interest rate, but you only pay on whatever you draw. LOCs are also refillable so, as you pay off a draw, you can draw those funds again and again.

As with all funding sources, make sure to read the fine print. Your own unique needs are most important when deciding where to get business funding.

Working through the tiers to build business credit allows you to add accounts to your business credit portfolio as you qualify. By doing this, you build your business credit score while building your business credit portfolio, allowing you to access funding as you go, accelerating the potential for business growth.

Fleet cards are a necessary stepping stone in the business credit-building journey. Some of them are more easily accessible in the early stages of building credit than others, and finding the right ones for your business is vital.  First, you have to actually qualify for the card in your business name. Then, you want to

Once you understand what impacts your small business credit score, you are that much nearer to creating better business credit which will help you learn how to start a business with no money and bad credit.

Because of the recent data breach, there are even more reasons to check your small business and consumer credit reports, and be vigilant about any problems you identify.

Building small business credit pays. Good business credit scores help a company get loans. Your loan provider knows the company can pay its debts.

If a loan does not require a personal guarantee, then your small business is generally going to be looking at unsecured business loans, and those are coupled with excessive interest rates.

When you look at the difference between your company credit score and consumer credit score, remember that any inquiries into your consumer credit score are going to detrimentally influence that score.