Do I Need to Pay Attention to My Business Credit Report?

Your company is either a small or middle market business, however, something out of the ordinary can happen to your business credit report.

Take note, your business credit report is your necessity to shine!

Business Credit Card Application

With rising costs, a 2% cash back rewards business credit card can balance and improve your net income. The use of a business credit card with cash back rewards is a component to stay above water during inflation. Example: Your company purchased equipment with your cash back reward business credit card for $50,000.00, the cash back for this transaction will equal $1,000.00 back to your card. Now, there is an additional $1,000.00 of funds available that can be used for other business purchases without any out of pocket expense. A 725 personal credit score with an unblemished business credit report will get your approval fast for a cash back business credit card.

General Liability Workers’ Compensation

Of course, some business industries are more expensive than others to insure, your business credit report is also a component for underwriting your business insurance policies.

SBA and SBA Express

Most SBA applications require your business credit report to be reviewed for underwriting. Why not check your Experian Business Credit Report and Dun and Bradstreet periodically. Your personal credit score is also a component for a business loan approval.

Alternative Business Lending

You were not qualified for SBA, now you are seeking alternative business lending for your line of credit. Nontraditional business lenders also review your business credit report for your loan approval to be finalized.

Trades

Trades say a lot about the company, these are business to business relationships in good or poor standing. A new trade comes from your good business credit report, a denied trade is a decision based on your business credit report trade history.

Why Not Have Leverage?

Maintaining your business credit report will help your business grow. Check your business credit report periodically and have the instant leverage that your business needs immediately for capital.

For more information on how this Florida boutique firm can help you with your Business Credit Report Repair please fill out the online contact form about your concerns or give us a call at 239.260.4602. Read what our valued clients have to say about First Pro Capital and Credit Consulting Experts on our Testimonials page.

-Serving Florida Business Owners Since 2006