Category: Business Credit

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
The Essential Business Credit Starter Pack for Your LLC

The Essential Business Credit Starter Pack for Your LLC

When starting a business, entrepreneurs often feel a lot of pressure to do a lot quickly. Pick a business name. Create a website. Set up a business entity. Get a business bank account.  These steps are all important to set your business up for long-term success and need to get done. Since you probably don’t have time to waste, you’ll want to pick the most efficient options available.  Building business credit should be on your to do list, because the… Read More
The Factors That Influence Business Credit Scores

The Factors That Influence Business Credit Scores

While you’re hard at work in your business, credit bureaus are also working behind the scenes to compile credit reports that can help (or hurt) your business for months or years to come.  Suppliers may review your business credit profile to decide whether to do business with your company, or offer payment terms like net-30 terms. Small business lenders may use these reports and scores to decide whether to offer financing, and what interest rate to charge. And other businesses… Read More