Establishing Business Credit, Why Do It?

Business credit is credit obtained in a business name. With business credit, the business builds its own credit profile and credit score. With an established credit profile and score, the business will then qualify for credit. This credit is based on the business’s ability to pay, and not the business owners. Since the business qualifies for the credit, in some cases there is no personal credit check required from the business owner. 

Similar to personal credit, business credit determines whether your company can be trusted by the way it manages money. Think of your business credit report as a gauge for the financial reputation of your business.

By taking the necessary steps to build business credit the more financial opportunities your business will have. Banks, lenders and suppliers rely on business credit reports to assess the creditworthiness of a company. With strong business credit, you create a safety net for your business so you should have no trouble gaining access to the business funding you need.

Whether it’s the desire to grow your current business or prepare your future company for success, now is an excellent time to create your plan and put it into action. Businesses depend on cash flow… and cash flow depends on business credit. Don’t give your business a reason to fail. It takes 6-9 months to establish and get high limit credit accounts, so why not start today?  

Having business credit can get you 10 to 100 times more funding than leveraging your personal credit! Startups and small businesses enroll in our service at Sprout Financial to get business credit. Our team takes the time to help your goals become a reality, so don’t miss out on the opportunity to jump start your business credit. Call (800) 516-0916 now to speak to an advisor.