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Score a Hole in 1 for Your Business Credit

for YOUR SCORE a Hole 1 in BUSINESS CREDIT BUSINESS IS A LOT LIKE A GAME, BUT IF YOU WANT TO PLAY TO WIN, YOU NEED THE PROPER TOOLS. FINANCING INSURANCE COLLABORATE MAINTAINING A GOOD BUSINESS CREDIT SCORE CAN BE CRUCIAL TO THE SUCCESS OF YOUR BUSINESS, ESPECIALLY IF YOU NEED FINANCING. 300 A BUSINESS CREDIT SCORE IS JUST AS IMPORTANT FOR A BUSINESS OWNER AS HIS OR HER OWN PERSONAL CREDIT SCORE. 30 A BUSINESS CREDIT SCORE IS A REFLECTION OF A COMPANY'S CREDITWORTHINESS AND RANGES FROM O TO 300 60% OF SMALL AND MID-SIZED BUSINESS OWNERS DON'T KNOW THEIR BUSINESS CREDIT SCORE DIDN'T EVEN KNOW THAT THEY HAD A BUSINESS CREDIT SCORE. 50% IMPORTANCE OF A BUSINESS CREDIT SCORE Impacts your ability to get approved fr business financing and favorable interest rates Determines insurance rate Large corporations or government contracts may require a minimUM business credit score to do business with them Protects your personal credit Experian THE FOUR CREDIT BUREAUS CALCULATING YOUR BUSINESS SCORE PLACES A LARGE EMPHASIS ON A BUSINESS' PAYMENT HIISTORY AND COLLECTS DATA FROM SUPPLIERS AND LENDERS Equifax PLACES A LARGE EMPHASIS ON A BUSINESS' PAYMENT HISTORY NEARLY 50% AND COLLECTS DATA FROM THE SMALL BUSINESS FINANCE EXCHANGE NEARLY 50% Dun & Pradstreets PAYDEX FICO SBSS THE INDUSTRY STANDARD FOR DETERMINING BUSINESS FINANCING. DETERMINES A BUSINESS CREDIT SCORE BASED SOLELY ON PAYMENT HISTORY TO TRADE PARTNERS ASSESSES PERSONAL CREDIT HISTORY, BUSINESS CREDIT HISTORY, AND BUSINESS FINANCIALS FORE! Reporting to these credit bureaus is done on a voluntary basis. For steps on how to report to these agencies, visit http://www.comparecards.com/blog/establish-business-credit-raise-your-score/ SCORECARD How a business credit score is calculated. 1 2 3 4 5 6 7 8 9 FINAL Credit utilization ratio Payment history Length of credit history Outstanding debts Public records bankruptcies, liens and judgments Company size Industry risk Business name: Date: HOW TO BUILD AND MAINTAIN A STRONG BUSINESS CREDIT SCORE USE BUSINESS CREDIT CARDS MAINTAIN A LOW CREDIT UTILIZATION 18 NEVER MISS TO MAKE A PAYMENT PURCHASES RATIO MONITOR YOUR BUSINESS REPORTS AND SCORES Source: Nav CompareCards.com Choose Wisely

Score a Hole in 1 for Your Business Credit

shared by CompareCards on Feb 22
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Did you know that 60% of small businesses do not know that they have a credit score? Not only does every business have a credit score, but it's a very important number that enables your business to ta...

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