Business & Finance Credit

Discover 5 Reasons Why Your Business Needs to Build a Business Credit Asset

Listed below are the 5 Main Reasons to Build Business Credit and how it can help you to build a strong foundation.
#1 Gain access to hundreds of finance companies and corporate lending institutions.
Commercial credit can open many doors to capital that you otherwise would not have available for your business to grow.
Corporate payment histories that report to your profile with Dun and Bradstreet and the other commercial bureaus can really boost your borrowing power.
#2 Getting an approval or denial is often based on how well you have followed the compliance rules set up for companies.
Most companies have no idea of the compliance rules and proper set up of their company and how those things are directly tied to whether they will gain access to capital or not.
#3 Secure the best terms for your financing for your company by properly building your company profile, if done correctly your company can gain access to lines of credit with the big companies out there like Walmart, Amazon, Staples, and Home Depot.
#4 Lower your costs big time by building a corporate Credit Asset can improve cash flow by lowering: Loan fees Premiums for all insurance types Terms for Leases Lines of Credit Rates Creditor terms and rates.
#5 Protection for your family, meaning that instead of your personal assets being tied up to your business now they will be separate and that will bring real peace of mind.
Just like personal credit utilizes 3 credit bureaus, Experian, Transunion, and Equifax, so to does Business Credit have its own credit bureaus as well.
They are D and B (Dun and Bradstreet), Business Experian, and Business Equifax.
Unlike personal credit in which every creditor will report your payment history to the personal credit bureaus, businesses do not always do this and often will not report unless you take certain steps to facilitate the reporting of your business payments made on credit.
Establishing corporate credit takes time and resources, but mostly it just takes some guidance from someone who knows how and has done it.
Business credit can be build so that you do not have to tie your personal credit to your business.
In other words if Donald Trump's business fails then only the business goes down, it does not affect his personal assets like his properties and family items.
This is huge because most business owners tie their personal credit to their business loans and then if something bad happens to the business it can affect their families and personal assets.
For that reason it is imperative to protect your family and build business credit the right way.


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