Our aim is to encourage small business owners to take business credit serious. Our nation is heading toward a deeper recession. Scoring that will help your business in being approved for loans, lines of credit, and other financial assistance.
Some of the top benefits of business credit are as follows:
- Company Reputation + Credibility. Having excellent business credit scores and positive trade-lines demonstrates to lenders, vendors, suppliers, and others that your business is responsible and solvent.
- Cash Flow Management. Business credit enables the building of a business reputation that yields fruit in the areas of cash flow management. Business credit lines, corporate credit cards, low-interest loans and other tools/resources help a business manage cash flow.
- Supplier Net Terms. Suppliers are more willing to extend payment terms as you build solid business credit. Some factories and suppliers offer up to 120 days for an invoice to be paid. This is a gamechanger for cash flow management.
- Loans and Credit Lines. Business credit is a key factor in approvals, terms and conditions of a business loan or business credit line. The better your scores, the less scrutiny your business receives. There is also more speed in the approval process when a company has an excellent business credit score.