Sentences with phrase «strong business credit»

If they don't report, your good credit behavior with them doesn't do anything to help you build an even stronger business credit profile.

That means a strong personal credit score (with a long payment history) can be helpful when building strong business credit scores as well.

Not all companies report to these agencies, and as business owners learn about the importance of establishing strong business credit, they often seek out and do business with companies that report.

A good, strong business credit history is also important when securing a favorable commercial loan rate.

However, it starts with how strong your business credit score is.

All these things will ultimately lead to your being able to build strong business credit in your company's name.

That means a strong personal credit score (with a long payment history) can be helpful when building strong business credit scores as well.

What's more, it's not uncommon for there to be mistakes within your profile, so regularly monitoring your credit data to ensure it's accurate is an important strategy for maintaining strong business credit.

Building strong business credit reports is a key strategy for maximizing a company's funding ability.

(Don't get us wrong, though; if you want strong business credit, don't pay bills late!)

Microloans are also a great way to start establishing stronger business credit by making your payments on time.

Lenders and vendors often require personal guarantees (also known as «PGs») from businesses that are young, as well as those that lack strong business credit scores and / or solid financials (such as sufficient income or cash flow).

I have two businesses that I have structured as Llc's and am currently trying to establish strong business credit with them.

What's more, it's not uncommon for there to be mistakes within your profile, so regularly monitoring your credit data to ensure it's accurate is an important strategy for maintaining strong business credit.

Microloans are also a great way to start establishing stronger business credit by making your payments on time.

By reporting those payments to commercial credit agencies you can help your clients build positive business credit references that help them build strong business credit scores.

On the topic of business education, the Gallup study showed that African American, Asian, and Hispanic business owners were more likely than business owners in the general population to be extremely or very interested in learning how to build a strong business credit application, choose a credit product, and develop a business plan.

Trade credit, or payment terms, with your vendors and suppliers can be a good approach to build a strong business credit profile — provided they report your good credit behavior to the appropriate credit bureaus.

While a small business loan might be a challenge for the earliest stage businesses, focusing on building a strong business credit profile in the first year or two of business is a good long - term strategy.

Having strong business credit is a valuable asset that you'll greatly appreciate if you ever get into a cash crunch.

You should be aware that a strong business credit profile is not a guarantee you'll find success with a small business loan — but it likely will make it possible to have more options.

Nevertheless, in addition to a good personal credit score, small business owners also need to focus on building a strong business credit profile.

Although a strong business credit profile isn't a guarantee you'll get the financing you might want, it will provide additional options unavailable to a business with a poor credit profile.

If your lender doesn't report to the business credit bureaus, you may be building a good customer relationship with that specific lender, but you're not doing anything to build a strong business credit profile, which is what other lenders will examine when assessing your application.

If your goal is to establish a strong business credit profile in the early years of your business, because your personal score is an important part of getting started (and, many lenders start there), it could make sense to begin with your personal credit.

A strong business credit profile is the foundation for demonstrating your business» creditworthiness to a potential lender.

«Building a strong business credit profile is a matter of making sure there is more good stuff than negative stuff in your profile and won't happen overnight,» said King.

That being said, borrowing the capital you need to fuel growth or otherwise add value to your business and making each and every payment in a timely manner, is the single most important thing you can do to build a strong business credit profile.

The need to maintain a good personal credit score will likely never go away for a small business owner, but a strong business credit profile is a critical foundation to how a lender measures your business» creditworthiness.

Using your personal credit doesn't do anything to help you build a strong business credit profile; and the higher balances (increasing the ratio of available credit to the credit used) may even hurt your personal score.

This is the single biggest thing you can do to build a strong business credit profile.

If building a strong business credit profile is important to you (which it should be), any time you borrow, make sure your good credit behavior is reported the appropriate business credit bureau.

Not too long ago we invited a group of small business experts to a Twitter chat to answer questions about how business credit works and what you can do to build a strong business credit profile.

If they don't, your good credit behavior may help you build a strong relationship with that particular supplier, but it won't help you build a stronger business credit profile.

A short - term business loan can also be a tool to help a business create a stronger business credit profile.

While it may sound overly simplistic, regularly reviewing your profile is one of the most important steps to help you build a strong business credit history.

Qualifying for a business credit card may be easier than a traditional loan and could make it possible for a business owner who has not yet established a strong business credit profile or don't have sufficient revenue to qualify for a small business loan (provided you have a strong personal credit history).

Your credit usage and good credit practices will help you build a strong business credit profile

Because approval is often largely based upon the business owner's personal credit history, a business credit card may be a good option for startup and early - stage businesses that haven't been in business long enough to establish a strong business credit profile, yet occasionally need credit to pay for business expenses.

If you have a strong business credit profile and an established business, a line of credit could be an option for your business.

A strong business credit profile is not a guarantee of financing, but it will provide options that aren't available to a business with a poor profile.

More and more, entrepreneurs understand the importance of building strong business credit.

Strong business credit scores can help business owners secure better interest rates on loans, decrease instances where you need to prepay for a specific product or service, and secure better trade terms with important suppliers in your industry.

From start - up costs to new expansion strategies, establishing a strong business credit profile with diverse accounts can help make or break your immediate and future business plans.