Category: Business Credit

The Role of Credit Scores in Securing Business Financing: What You Need to Know

The Role of Credit Scores in Securing Business Financing: What You Need to Know

Key points: Strong credit scores can unlock financing opportunities for small businesses.  Credit, in turn, can help businesses manage cash flow and grow.  Learn how to build good credit, and leverage it successfully.  What Is the Purpose of Credit? Credit allows a person or business to make purchases they could not afford to pay for in cash. It also allows the borrower to maintain a cash cushion instead of using all their available cash to buy equipment, real estate, or… Read More
Do Subscriptions Build Business Credit?

Do Subscriptions Build Business Credit?

Paying subscriptions can be one way to establish and build business credit. To achieve strong business credit, there are additional steps you’ll need to take.  In the world of personal credit, getting credit for monthly payments for subscriptions—like your cell phone bill or Netflix subscription—has recently become a popular and creative way to help build your personal credit scores with FICO and VantageScore. How does that work if you’re a business owner? Can subscriptions help build your business credit history?… Read More
Hard Inquiries vs Hard Credit Checks vs Derogatory Marks: What You Should Know

Hard Inquiries vs Hard Credit Checks vs Derogatory Marks: What You Should Know

When it comes to understanding what affects your credit scores, the lingo can be confusing. What are hard inquiries vs hard credit checks? What about derogatory marks?  And how do any of these fit into the credit score equation? If you are thinking about applying for credit personally or for your small business, or if you’re trying to boost your credit scores so you can get better financing in the future, understanding these terms and what they mean for your… Read More
7 Business Credit Challenges Small Businesses Face

7 Business Credit Challenges Small Businesses Face

Credit and financing are challenges that many business owners don’t realize they face until they need it.   Machinery breaks, and it’s too expensive to fix with cash on hand. A small business lands an important contract and needs to hire more staff quickly to get the work done. A great piece of real estate becomes available, and would be perfect to expand the business. Or sales are growing, but that means purchasing a lot more inventory.  Whatever the reason,… Read More
What Does It Mean To Be Credit Invisible? And How To Fix it!

What Does It Mean To Be Credit Invisible? And How To Fix it!

There are times when you may very well want to be invisible: you’re a student and a teacher is calling on you to explain something you haven’t studied, for example, or you’re in the audience of a comedy show and the comedian is looking for someone to single out. Or perhaps you’re generally the type of person who doesn’t want to call attention to themself.  But when it comes to credit, being invisible can be a liability that can hold… Read More
When to Use Business Credit Monitoring Services | A Guide for Small Businesses

When to Use Business Credit Monitoring Services | A Guide for Small Businesses

Highlights Strong personal credit and business credit helps businesses qualify for certain small business loans, insurance, and partnerships.  Monitoring business credit can help your business reduce the risk of the growing problems of fraud and ID theft. Consider business credit monitoring as soon as you start your business. Learn how business credit monitoring works, and pick the right service for your business.  “I pay my bills on time, so I don’t need to monitor my credit.” That comment came from… Read More