Line of Credit for Business

In a previous post we talked about the benefits of getting unsecured lines of credit in the form of business credit cards. With our bundled business credit card program a small business owner would get three to four of these cards issued to their company at 0% interest for the first 6-12 months.

Just like regular credit cards, business credit cards are a revolving line of credit. This means you can use it and repay the line as often as you wish, as long as you pay the minimum monthly payments on time and don’t exceed the card’s credit limits.

Now I don’t need to go into all the benefits of business credit cards; especially the ones we get issued to your company which only report to the business credit agencies such as Dun & Bradstreet. But every so often I get a small business owner inquiring about getting a traditional line of business credit from a bank with check writing privileges.
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Credit Reporting Overhaul

For the longest time the big three have been criticized for how they handle disputes from consumers. As you know the credit reporting agencies keep records on more that 200 million individuals and handle billions of pieces of data each year. Even though we are entitled to dispute any information we believe is incorrect on our credit reports the process can really be a nightmare for some.

After three years since the investigation began, which was prompted by several New Yorkers complaining that they were having trouble correcting errors on their reports; a settlement has been reached.

The credit agencies’ industry group said that Equifax, Transunion and Experian had been working with the New York attorney general and other state attorneys general to come up with a plan. On Monday, the New York State attorney general, Eric T. Schneiderman announced that his office had reached a settlement with the major credit agencies.
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A Line of Credit for Business with Check Writing Privileges

Line of Credit for Business