How To Build Your Business Credit And Raise Your Credit Scores

by | Nov 16, 2018 | 0 comments

How To Build Your Business Credit And Raise Your Credit Scores by John Halasz

Business could never grow without pouring in more investment money or additional funds for operating expenses and buying assets. The first move for every entrepreneur running a business is to build business credit. Improve your credibility and reputation in the industry. If your company maintains a good reputation then banks, lenders, and suppliers will easily grant you credit or loans. Set up your credit portfolio to facilitate suppliers and creditors decision concerning your company. It is imperative that you do not use personal funds and assets for your business. You always separate business assets from your personal assets. Borrowing is a critical move in the business world. The art of borrowing and sustaining a high credit score is important to be able to gain favorable terms for your loans.

There is a significant relationship between favorable terms and high credit scores. Taking good care of your credit portfolio will allow you to borrow more money to purchase more equipments, assets, or put more operating funds. Businesses either starting up or expanding need more money to grow. The concept of borrowing money to banks and other outside financing with low interest, higher payback period, and other favorable terms is more likely to happen when you build business credit right. You control more your borrowing terms if you can present a higher credit score. Creditors and other lenders will always refer to your credit score history to evaluate your capability to make future payments.

You have an edge over lenders and creditors if you present an impressive credit portfolio. This alone determines the loan approval. Your credit score is your access to the world of business borrowings. Your ability to pay back is largely dependent on your credit score reports. Dun & Bradstreet (D & B) is a business entity known for building up credit scores. Business lenders, banks and other entities call on D & B to confirm your credit score history. They are very reputable that anybody would want to offer you loan if you maintain a good account with them. There are at least 1.6 million companies in their database all over the world. They update their database every month to ensure that inquiring companies get the updated reports.

You definitely have one good important cannot-be-denied need to borrow money. You need to expand operations and you need to seek this additional fund outside your company. Another company is also good in building up your business credit score. The United Business Credit (UBC) helps you create a good business credit profile so your lenders will be able to facilitate decision on the loan terms, amount, and loan rates for your company. Build your credit score with reliable companies. You may browse the internet and may find out more companies offering same services but still it is important to choose the company that will handle your business credit account.

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Article Source: http://www.articlesphere.com/Article/How-To-Build-Your-Business-Credit-And-Raise-Your-Credit-Scores/269520

 

 

Contact Me

If you want access to investment plans with good returns on it (ROI) call me Oluwaseun on

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Contact Me

If you want access to investment plans with good returns on it (ROI) call me Oluwaseun on

Phone

08160009501

Email

[email protected]

Address

35 Modupe Shitta Egbe, Lagos, Nigeria.