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The benefits of having a good business credit score

January 25, 2017 by Gary Stockton

Good credit is the lifeline of your business. Sure, it’s a must for obtaining funding for launching or expanding your business. But that’s only the beginning. So, here are just a few of the many benefits of building and maintaining a good business credit score.

  • First, it can save you money. Lenders offer better interest rates to businesses with good credit.
  • You can obtain business credit without the need for a personal guarantee. And this reduces your personal liability and protects your personal assets.
  • It can help you stay ahead of your competition. You can pass your interest savings onto your customers or keep a larger margin of profit for yourself.
  • You can make decisions with confidence and get the money you need, which can reduce stress on you and your company.

Bottom line.

A good credit report and score are essential for getting the money you need to successfully run and grow your business.

Business Credit Advantage

Enrollment in Experian’s Business Credit Advantage unlimited access and monitoring service is the best way to manage and grow your business credit. Unlimited access to your business credit report gives you the tools you need to manage and grow your credit score. And, automatic email alerts provide you the monitoring tools to watch your credit file for any inquires or derogatory filings.

For more information on business credit resources, plus articles and tips on this subject, go to BusinessCreditFacts.com.

 

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This blog is written and managed by the team at Experian Business Information Services. Here you will find articles on business advice and credit education in addition to the latest news and trends in small business.

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