Monday, June 24, 2013

Six Tips for Building Business Credit

From ASBDC:

What do established companies looking to expand and start-ups in the earliest planning stages have in common? They want access to money and credit without having to provide a personal guarantee. This sentiment is consistently and strongly expressed by entrepreneurs... It’s no secret that building and expanding a business credit profile has become a greater challenge over the last few years. Many established small companies’ cash flow sheets were hit hard during the recession and as a result, many lenders and suppliers have either added a personal guarantee policy or modified their current policy.

Most business owners know Experian, Equifax and TransUnion as the three major credit bureaus that provide information about their personal credit; however, they also may provide a credit profile about your company's creditworthiness.

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