Business Credit

Building Business Credit for Small Business

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3 Business Monitoring Services That Track, Manage and Protect Your Business Credit

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Business Monitoring

Why is it so important?

First of all, before you apply for credit with a supplier or lender you should know firsthand where you stand with your reports and scores. This will give you better insight into what type of financing you may qualify for ahead of time and whether or not the time is right to apply.

Secondly, consumers are not the only target when it comes to identity theft so in order to protect your company you must keep a close eye on any unusual activity on your reports.
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The #1 Source of Small Business Lending in America (And How to Obtain It)

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Trade Lines of Credit

 

What is the largest source of capital from business to business and remains the #1 alternative to personal and small business loans? trade lines of credit

Here’s another hint.

The SBA reports it as the single largest source of small business lending in America today.

Still not sure what it is?

It’s called trade lines of credit also known as ‘vendor credit’ or ‘supplier credit’.

Did you know that trade credit is the second largest source of capital for Wal-Mart? It’s used trade credit as its largest source of capital than even its bank borrowings!
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How Even Fortune 500 Companies are Forcing Vendors to Accept Painful Terms

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Extending Credit to Customers

 

“We’re going to start paying you later because it’s better for us, so get used to it.” extending credit to customers

What would you do if a major client of yours sent you a notice like this?

I’m sure it wouldn’t be in those exact words but what would you do?

Would you put up with the new terms and late payment?

Many small business owners feel they don’t have a choice because the alternative is no business at all. And no one can afford to turn down work in this economy.
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Building Business Credit: The 20 Essential Questions to Focus On

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Building Business Credit

 

Do you know where your company stands in the business credit building process?building business credit

One of the most important things you should first learn to do is ask the right questions. One of the classic mistakes that many small business owners tend to make is moving forward without having the proper framework in place.

Instead you can end up feeling scattered and spend lots of time trying to back track and correct mistakes you’ve made.

So in order to help you prevent from making those costly errors here are 20 essential questions you should focus on when establishing business credit:
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Four Business Charge Cards to Consider for Your Small Business

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Business Charge Cards

Let’s face it… many small business owners either use their personal credit cards and/or business credit cards to finance abusiness charge cards good portion of their company expenses.

Another type of card that you may want to consider using is a business charge card.

So what is a business charge card?

It’s a specific kind of credit card that has all the convenience of a credit card without all the costly interest.

While business credit cards allow you to make purchases and carry a balance from one billing cycle to the next the disadvantage of having to pay interest on that balance can become pretty expensive. The difference with a charge card is that the purchases made must be paid in full each and every month.
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