Tag: business credit agencies

Making a mistake with your business credit can cost you in your credit score for months to years. While the formulas for business credit agencies are not as transparent or consistent as those for personal credit scores, there are still several big no-no’s that will stay on your record the longest. Here are the 3 biggest business credit mistakes you can make: 1. Liens A lien is a legal claim against your company’s property or assets. It is usually the result of vendor or business loan repayment […]

Starting up a small business requires a lot of capital. In order to meet those capital demands, entrepreneurs will often use their own funds plus borrowed money in the form of credit cards or home equity lines of credit. While these types of financing may be necessary to get the business off the ground, small business owners should establish a business credit profile as quickly as possible to save their personal credit scores from damage. Beyond just the risk of credit injury if the business fails, […]