Most existing businesses have or had some type of credit glitch or glitches during their operations. These quick tips may help a new business or existing businesses
New Business Credit
Try to do your best not to utilize your personal credit for business purposes. What I highly recommend to new businesses is by starting off with a small alternative business loan like a small merchant cash advance loan or a secured small business loan; this will help you establish your business credit score and payment history quickly with Dun and Bradstreet, Experian Business Credit and Equifax Business Solutions
Seasoned Small Business Owners
If you are an existing business, I highly recommend purchasing the monthly monitoring programs with Dun and Bradstreet and Experian Business Credit, it will cost your company roughly $100.00 a month between the two subscriptions. In addition, it will save you grief down the road if a trade or lender is not reporting your information correctly. With Equifax’s Business Solutions, you have the option to call in and order a business credit report and mail it to your business or you may order a copy online.
For example: A small business owner owns four business cars that he personally guaranteed; the lender erroneously reported some late payments on his personal credit, which we restored. The owner and my company called to verify if the auto lender also reported the erroneous late payments to the client’s business credit, sure enough they did report him incorrectly to all three business credit reporting agencies. We prepared the disputes to Dunn and Bradstreet, Experian Business and Equifax Commercial Information’s Solutions and provided all three copies of the cancelled checks to prove that our client was not late and update the payment history on his business credit report.
For more information on how we can help you locally fix your business credit and personal credit locally in Cape Coral FL and Fort Myers FL please fill out the online contact form about your concerns or give us a call at 855.477-9007. Read what our valued clients have to say about First Pro Capital and Credit Consulting Experts on our Testimonials page.