Business Credit

Building Business Credit for Small Business

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Why Is Building Business Credit So Important?

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Building Business Credit

According to Wikipedia an asset can be defined as a resource controlled by an entity as a result of past events and from which future economic benefits are expected to flow to the entity. building business credit

Many startups rely on the use of some personal assets for business in order to conserve cash. Although money is often tight during the early stages, your goal as a small business owner should be to not only increase sales but to build your business credit.

In particular, business credit is an asset and considered an economic resource that make up the financial foundation of a company.
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Should I Apply For A Small Business Credit Card?

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Small Business Credit Card

A business credit card should always be the credit card you use when making business purchases. Transactions such as paying for gas in a company car, buying office susmall business credit card pplies, or taking clients out for lunch are all acceptable ways for a small business credit card to be used.

When it comes to personal credit cards, you should not use it for business expenses. This can potentially jeopardize the protection of the corporate veil since you are co mingling funds. Did you know corporate veil piercing is the top litigated issue in corporate law today?
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10 Steps to Improving Your Credit Score

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Improving Credit Score

Whether you’re hoping to purchase a house, car or even start a business in the near future, you likely want to improve your credit score. While you may already have a decent score, it never hurts to raise it a few more points. Here are ten steps to building and/or maintaining a positive credit score. improving credit score

  1. Know Your Score – Before you can work on bettering it; you need to know what your score is. You can always order your credit scores by itself but it’s always best to order both scores and reports. By ordering your credit reports you will be able to identify any problems that may be hurting your scores.

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Can a Growing Company Obtain Business Loans with Bad Credit?

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Business Loans with Bad Credit

Are you wondering whether you can take out a business loan despite having less than perfect credit? business loans bad credit

You may be happy to know that you can apply for a loan despite a poor credit report. The key is to know where to find the right lenders to apply with.

There are various ways to take out a loan when you do not have a good credit record. Here are five steps to help guide as you prepare to apply for a business loan with bad credit.
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