Although credit isn’t the only factor lenders consider, good business credit scores can improve your odds of approval the next time you fill out a business credit application.
Good business credit can lead to lower insurance premiums, better rates and fees, and smaller deposits when you take out a new lease or service for your company. Solid business credit may also help you secure better trade terms from suppliers. The opposite is true for bad credit scores.
Separating your credit can protect your personal credit reports and simplify accounting.
When your business credit is in great shape, you can likely afford to shop around for the best rates and offers different lenders have to offer.
If you ever hope to sell your business or attract investors in the future, a strong business credit profile can be a strong selling point.
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