Category: Business Credit

Tradelines for Sale: Is it a Best Practice or Fake Shortcut? 

Tradelines for Sale: Is it a Best Practice or Fake Shortcut? 

Buying tradelines (or renting tradelines) is often promoted as a way to quickly boost credit scores. But is it legit? Whether you’re a business owner searching for a small business loan, or if you’re  hoping to get a mortgage or car loan, you likely know that good credit is key to getting approved for financing, and for getting the best interest rates.  If you’re having trouble qualifying for financing and searching for credit repair solutions, you may have come across… Read More
The 9 Best Banks for Small Business Loans in 2024 (+Bonus)

The 9 Best Banks for Small Business Loans in 2024 (+Bonus)

Getting financing for your small business isn’t a matter of “if” but “when.” Sooner or later, your business is going to need capital, whether it’s to make it through a slow period or to expand. That’s why, even if you’re not looking to take out a loan right now, it’s smart to look ahead to stay on top of what’s available. For many small business owners, a bank loan is their first choice when it comes to finding a business… Read More
What is Revolving Utilization

What is Revolving Utilization

Revolving utilization is an important factor that can impact your credit scores. It’s often the main reason your credit scores change from month to month. But utilization can be confusing, so let’s break it down here and help you use it to your advantage.  If you’ve seen the FICO score formula, debt is one of the top factors that affects credit scores (second after payment history) and utilization is a major part of that calculation.  What is a Good Revolving… Read More
Business Credit Card vs. Charge Card vs. Debit Card: What’s The Difference?

Business Credit Card vs. Charge Card vs. Debit Card: What’s The Difference?

When it comes to paying for business purchases, you have choices. Business credit cards, business charge cards, business debit cards. Which one is best? And how do you choose? This guide will help you understand the differences between credit cards, charge cards, and debit cards so you can make an informed decision about which is best for your business. Types of Business Cards First, here are the most basic descriptions of each of these popular payment methods. Business credit cards… Read More
How Do Commercial Loans Work?

How Do Commercial Loans Work?

Small business loans, specifically commercial loans, are designed to help businesses borrow money for any number of reasons, from working capital to purchasing equipment or real estate.  Understanding how these loans work can help you make a smarter decision when your business needs a loan.  What is a Commercial Loan? The term "commercial loan" may sound intimidating if you're not familiar with it. If you're wondering, "What is commercial lending?" it simply refers to loans made to a business for… Read More
What Are the Best Business Savings Accounts in 2023?

What Are the Best Business Savings Accounts in 2023?

Rising interest rates may hurt borrowers, but they benefit savers. If your business has extra funds sitting in your bank account, you may want to put that money to work for your business with an interest-bearing savings account. And even if your business isn’t flush, establishing a business savings account can be helpful for your business financial health. Here’s how to find the best business savings account for your business.  Should I Get a Business Savings Account? Probably. Setting aside… Read More