You are hurting your personal credit needlessly. Make this a 2024 resolution.

Personal Credit versus Business Credit

Small business owners often are unaware of the effects business credit can have on cash flow and a positive funding decision. Having business credit and in turn, business credibility is key to long term business success.

You must start creating your business credit profile. It will become an asset for you. A good business credit score tells the lender that your business has a history of paying its obligations on time and in a responsible way. Just as your personal credit score does for you. A good business credit score shows a lender your business is a good credit risk. This is a very important and an often-overlooked advantage when seeking business financing.

Another major advantage of building a solid business credit profile and business credit score is when a personal guarantee is used, it does not show up under that person’s personal credit report. The advantages of having business credit can affect the lives of small business owners in a very positive way. Do this for your business as soon as possible. But be careful though. It must be done properly.

Why Does Having a Good Business Credit Score Matter?

Some Credit Lines Can Be Obtained Without The Need for a Personal Guarantee

It Will Be Easier to Qualify for a Loan

You will Receive Better Loan Rates

It Protects Your Personal Finances

You will Get More Favorable Terms from Lenders and Suppliers

Get Access to Cash for Growth and Expansion