Whether you are a start-up or an existing business undertaking a new expansion effort, it’s crucial for small business owners to have access to credit and business financing. Establishing an active credit profile with diverse accounts separate from your personal engagements is key to achieving your business’s financial plans.
Why is it important for my business to establish credit?
If you are reading this, chances are you already understand the importance of having a good credit score. Similar to your consumer score, good business credit can help your business gain access to better borrowing interest rates, secure more favorable trade terms with suppliers, and reduce instances in which you need to prepay for services and products. In the long run, an excellent credit score can help you access the assets or funds that will help your business grow, while saving you money.
Unless you are operating your small business as … Read the rest