Featured on Business2Community: How to Build Good Credit for Your Business

Establishing and building good credit for your business is vital for all small businesses, regardless of the size or type of business or how long you’ve been in operation.

Many small business owners apply for funding to cover operating expenses or fuel their growth, only to discover that they don’t qualify because of a lack of business credit or poor business credit. It’s especially common for newer businesses to have a thin or non-existent credit profile, which means these busienss owners will need to rely on their personal credit and other personal financing options like credit cards to support their business. Established businesses likely already have a business credit score, but if you have a history of missing or late payments or high credit utilization (or you’ve just never considered your credit score before!), there’s a chance your credit profile may require a little TLC.

Business credit takes time to build and there’s no way to rush the process, so whether you’re starting from scratch or are hoping to improve your current credit score, it’s best to start as soon as possible. We take a closer look at what business credit is and the steps you can take to improve your credit score on Business2Community.

Read the full article to learn more about:

  • What a business credit score is
  • Why you should build business credit
  • How to establish business credit for the first time
  • How to build good business credit
Read the full article
Author:
With over 25 years’ experience in financial services, Pamela Kohl has worked closely with banks, alternative finance, and other fintech platforms to develop core banking services, as well as establish new card programs, lending programs, and global payments platforms. She has been nationally recognized for creating innovative solutions, leveraging new markets, and developing winning strategic partnerships. Currently, Pamela serves as Vice President of Marketing at Greenbox Capital. Pamela earned a B.A. from Marshall University, summa cum laude, and M.A. in International Economics from the University of Miami, where she graduated with Distinction.