Establishing business credit, also known as corporate credit, can be a daunting task for B2B companies. But, if you plan to grow your business, it’s something that simply must be done early in the game. In order get approved for high limit business lines of credit, business real estate mortgages, even business loans, you’ll need established credit. That means you’ll have to start to establish corporate credit now, so you won’t have set-backs later when you need it. Corporate Credit Basics One of the major business credit mistakes owners often make is not keeping personal credit separate from corporate credit. This is a definite no-no. The two should never be mixed, intertwined or merged in any way. The three main factors that affect business credit include: Time your business has been operating Size of the assets owned by your business Payment history records of various creditors Learn the basic of how to establish corporate credit from Ghetto Search Dot Com Image Source: Columbia REIA Each of these components is very important as you establish corporate credit for your B2B company. Once business credit is established, it’s important to make smart decisions when using lines of credit, credit cards, etc… to […]
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