Business Credit

Business Credit Is Good For Business

Whether you’ve been in business a while or just starting up, having access to business credit is important.  The SBA says the one of main reasons small businesses fail is lack of capital.  The good news is that you can obtain the capital you need to successfully grow your company.

What Is Business Credit?

Business credit is simply obtaining credit in the name of your company.  For the most part,  any credit obtained reports only to business credit bureaus and not on your personal credit.  This is a huge benefit.

How Credit Benefits Your Company

Business loans, credit cards and lines of credit allow you to cover any operating expenses as needed like supplies or payroll. Also, business credit allows you to expand and take advantage of new opportunities.
By obtaining and using credit while paying your bills on time you are establishing strong business credit history. Also build credit without personal guarantees.
As you increase revolving personal credit card balances the lower your scores go. However, when using business credit, your trade lines do not report on personal credit bureaus, so your personal scores are not lowered.
Reduce liabilities and protect your assets by separating personal expenses from business expenses. There also tax advantages to using business credit for business needs.