Category: Business Credit

Simple Ways to Build Business Credit and a Healthy Financial Routine

Simple Ways to Build Business Credit and a Healthy Financial Routine

Key takeaways: Simple habits can make it easier to build and keep great business credit scores.  Develop habits to help build good credit and a healthy financial business.  When your business has an opportunity to grow—or faces a cash crunch—the last thing you want to worry about is whether your credit is good enough to help you get funding. That’s why you want to build business credit before you need it.  In James Clear’s Atomic Habits, he explains how to… Read More
What is the Highest Possible Credit Score for Small Businesses

What is the Highest Possible Credit Score for Small Businesses

Quick question: what’s a good business credit score? When I’ve asked small business owners this question in webinars and workshops, they often guess numbers like 700, 750, or sometimes, 100.  The answer, I respond, is “it depends.”  That’s in part because the number that represents the highest possible credit score for small business depends on the scoring model used. And the other reason it depends is that each lender decides for itself how much risk it's willing to take. To… Read More
Nav vs WalletHub: Which Credit Service is Best for Your Business

Nav vs WalletHub: Which Credit Service is Best for Your Business

Checking your credit on a regular basis is important, whether you’re a consumer looking to make better credit and financial decisions, or a small business owner hoping to do the same.  With dozens of places where you check and monitor your credit reports and scores, you may not be sure what service will work for you. Here we’ll analyze two options: Nav and WalletHub.  Keep in mind that Nav is designed for small business owners, while WalletHub is focused on… Read More
Business Credit and Other Financing Options for High Risk Businesses

Business Credit and Other Financing Options for High Risk Businesses

Small business lenders, merchant processors and credit card companies often consider some types of businesses “high risk.” If your small business falls into one of those categories, you may find it more difficult to get financing or a merchant account. Here, we'll explain what can make a business high risk, what types of financing may be available to higher risk businesses, and how building strong business credit may help your business increase its financing options.  What Is Considered a High-Risk… Read More
NAICS Trends How and Where to Explore

NAICS Trends How and Where to Explore

As a small business owner, you may not have access to consultants, research reports and other data larger businesses often have. But you do have access to free government resources you may use to help create or update a business plan or conduct market research.  Here’s how to access and use NAICS trends.  What is the NAICS Code Methodology?  NAICS stands for North American Industrial Classification System. The NAICS methodology is a system for classifying businesses by the industry in… Read More
Tradelines vs. Business Loans: Which Is Better for Building Your Business Credit?

Tradelines vs. Business Loans: Which Is Better for Building Your Business Credit?

Shortcuts are great when you’re a small business owner. Finding a way to do something faster, easier and more efficiently—without sacrificing quality—means greater productivity and often profitability.  If you’re trying to understand how to establish business credit, you may wonder what’s the fastest, easiest, or more efficient way to build a business credit profile. Is it a small business loan, line of credit, or business tradelines?  Find out what’s best for your business, as we explain tradelines vs business loans… Read More