Building business credit is crucial to establishing your business identity and growing your business. Just like you have a personal credit score, your business also has a credit score. Many banks, investors, and companies rely on your business creditworthiness when setting loan terms, determining insurance premiums, increasing lines of credit, or considering you as a viable partner.
More importantly, having strong business credit is a lifeline for your business. It allows you to obtain capital for expansion, covers day-to-day expenses, purchases inventory, hires additional staff, and enables you to conserve the cash on hand to cover your cost of doing business.
As a business owner, it is imperative to have a foundational understanding of why and how building business credit is necessary to growing your business. In addition, we offer our business clients an informative business strategy for securing business funding.