Benefits of Building Business Credit
Benefits of Building Business Credit
Building business credit can be done regardless of your personal credit scores. While using your personal credit can accelerate your business credit building, the process can be completed entirely without using personal credit. This creates a complete separation of personal & business finances and will help to ensure you do not pierce the corporate veil and assume personal liability
- Business credit accounts report exclusively to your business credit reports so utilization and inquiries have no effect on your personal credit score.
- Business credit building is FAST. You can expect to receive Store Credit in as little as 90 days and Cash Credit in as little as 120 days!
- Business Credit gives you access to high credit limit accounts. Business credit card approval limits are 10-100 times higher than consumer credit approval limits.
- You can be approved for business credit without needing any of the following:
- NO Financial Statements Needed
- NO Collateral Needed
- NO Tax Returns Needed
- Establishing your business credit will increase approval amounts for bank loans which have lower interest rates than most business lenders on the mark.
- Because anyone can see your business credit reports, establishing business credit can insure that clients, customers, prospects, lenders, and competitors are viewing an accurate picture of your business credit.
- Established business credit can help solve Cash Flow problems in businesses that receive lump sum payments for their products or services.