Business Credit

Building Business Credit for Small Business

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4 Ways to Get Cash and Credit For Business Fast

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Get Cash and Credit for Business Fast

Access to cash and credit for your business is crucial whether you’re in the early stages of starting a business or been in operation for years.

When you have working capital, you have the ability to cover those unforeseen expenses you didn’t plan for and other costs you didn’t expect.

So, what can you do if time’s not on your side and you need cash and credit fast? get cash and credit for business fast

In today’s post we’re going to show you four ways to get cash and credit for your business fast.

Before we get started let’s go over the different types of business lines of credit.

First, there is the business line of credit which provides a business a predetermined credit limit you can borrow against whenever needed. You can access any amount of money up to the credit limit for your business and repay that money back over time with an added interest fee.

Secondly, you have a business line of credit which provides a credit limit you can borrow against whenever needed but the repayment terms are shorter (typically 6 or 12 months).

Finally, you have credit lines you can get for your business with little to no interest charges but with repayment terms ranging from 30-60 days.
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Top 10 Business Credit Building Updates and News

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Business Credit Building Updates

In today’s post we’re covering the top ten business credit building updates and news that you should know. It’s amazing to see how fast the business credit industry is growing and changing to meet the needs of small business owners like yourself. business credit building

We have compiled a list of some of the most important updates to keep you informed so you can best determine what business credit building strategy is ideal for you.

Remember, when it comes to building business credit and getting funding for your startup or existing business; staying informed with up to date information is essential to your success.

Without further ado, here are our top ten business credit updates:

1 ) Equifax Acquires Paynet – Although Equifax is widely known as a consumer credit reporting agency, did you know they are a business credit reporting agency as well? In fact, they provide business credit evaluations for over 22,000,000 small businesses and corporations.

Their acquisition of Paynet aims to strengthen Equifax’s Business Credit Reporting arm and expand access to capital for small businesses. PayNet is a business credit reporting agency that maintains the largest proprietary database of small business loans, leases and lines of credit with over 24 million contracts worth over $1.6 Trillion.

The addition to PayNet’s commercial leasing payments data, along with Equifax’s business data, can boost growth in small business commercial space for Equifax.
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50 Tips for Getting Business Credit that Will Make an Impact

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Getting Business Credit

As a small business owner, getting business credit is a necessity, if you want to have access to funding, protect your personal credit and establish a credit identity for your company.

The good news is I’ve done the heavy lifting for you, and today you’ll get to look at the most important advice I’ve compiled for getting business credit…and you’ll see how you can apply Getting Business Credit these tips to produce more results.

Here is my list of 50 tips for getting business credit that will make an impact to your business.

Sound good?

Let’s get started!
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What is Business Credit?

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What is Business Credit

If you ever thought about starting a business, or you are currently a startup, own an existing business, or invest in real estate, then you’ve probably heard the phrase “business credit.” what is business credit

But what exactly is business credit? Happy you asked, because I’ve got one short answer, and one really long one. Here’s my official definition:

Business credit is the ability for a company to obtain borrowed money that it can use to purchase products or services which is based on the trust that payment will be made in the future.

You get business credit from a credit grantor, whom you agree to pay back the amount that you spent plus any additional interest charges or fees, at an agreed upon time frame.
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Why Build My Business Credit?

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Why Build My Business Credit

Although the lending market is always changing and evolving the one thing that is constant is business credit.

In a recent interview with Franchise Gator I answered a few questions about the importance of building business credit. Here are some of the highlights from that interview. why build my business credit

What are the most important lessons you’ve learned in your career about funding a business venture?

“An important lesson I’ve learned is the power of business credit and the leverage it provides. The stronger the credit you have both personally and for business, the more options you have and the better the terms and rates you’ll receive.”

To add to that, remember there are funding programs that look at factors other than personal credit alone such as revenues, outstanding invoices, purchase orders, business assets, etc.
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