The importance of using business credit
Being an entrepreneur puts you at greater risks than the average person, but are you willing to risk:
-Creditors hounding you?
-Filing for bankruptcy?
-Having your mortgage denied?
-Losing your house?
Was your answer “no” to any of those questions? Then this may be a very helpful an important report.
Because of your business, you’re in danger of facing all of these financial problems .Most entrepreneurs make one or more mistakes when financing the launch or growth of their business, and it is hard to see the mistake they are making. And if the mistake is noticed, some calm themselves into thinking the consequence will be minor .Until, one day, they can't qualify for a mortgage. Or they can't get the to-die-for financing offered on the new car they're buying. Or they're hounded by creditors and eventually have to declare bankruptcy.
Usage of one’s personal finances to fund their business is the biggest mistake, using personal credit cards is another mistake. If you are in business or thinking about starting a business, business credit is a must. Most business owners have no idea that they can establish business credit, and even fewer know how to how to establish business credit. If owners would take the time necessary to educate themselves about establishing credit, they would know why using their personal credit is such a foolish mistake. They would also be able to use business credit cards, which don't report to their personal credit reports, as a result, not lowering the personal credit scores.
Once the business credit profile is set up, you can obtain unsecured business lines of credit. Once a business obtains unsecured business lines of credit, they then have the working capital they need to start a business or expand their business. The business owner has check book control to use the business lines of credit as they wish. Getting unsecured business line of credit is the biggest goal of getting business credit.
Numbers of banks will lend to start up businesses once the business profile is set up. Business credit is a must for every business owner; don’t put your personal assets at risk
Unlocking Corporate Credit: A Strategic Guide for Businesses
Securing corporate credit is a pivotal step for businesses aiming to expand, manage cash flow, or simply maintain operational stability. This guide delves into why corporate credit is essential, how to prepare for it, and the strategic benefits it offers to businesses. Understanding and managing corporate credit can significantly enhance a company's financial agility and competitive edge.
What is Dun and Bradstreet?
What does Dun and Bradstreet do for you
Use Dun and Bradstreet and the Small Business Association to Build Business Credit
Using D And B and the SBA to help your business build business credit
