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Building business credit is one of those long lost business assets.  Because the last ten years the sub-prime market forced the small business community to become lazy, there was no reason to have or build business credit whatsoever.  However, coming out of this economy there is going to be new underwriting guidelines for small business success.  These guidelines are going to require small business owners to think about their business full circle.  From business credit to proper bookkeeping to taxes and payroll.  Today, it needs to be done correctly to have the upper hand.

In this new economy you must operate your business correctly from the beginning to have the upper hand

When applying for a business loan banks and lending institutions are going to look at your business credit score from all three business credit reporting agencies.  The main three business credit reporting agencies are Dun & Bradstreet, Experian, and Equifax.  With the new tri-merge report, a business credit report that shows all three of your business credit scores on one report, banks and lending institutions can make rapid decisions on whether or not to approve you for a business loan or line of credit.  With this new technology, having a good business credit score with all three business credit reporting agencies is important then ever.

You must have a good business credit score with all three business credit reporting agencies.

Having a good business credit score will:

• Separate your personal credit from your business credit protecting your personal assets.
• Allow for your business to take advantage of all business opportunities that come your way.  Government contracting for example.
• Shows potential buyers and investors that you are running your business with access to capital in mind.
• Will allow your business to be approved for business loans and lines of credit without a personal guarantee.

Whether you are in business, buying a business, or starting your business from the ground up, having a quality business credit asset will only help you in the future.  Wells Fargo, one of the nations largest small business lenders states “The longer you delay building business credit, the longer you delay taking advantage of business loans and lines of credit.”

Here at HowToGetaBusinessLoan.com we have partnered up with one of the most intelligent business credit builders in the country.  From building your corporate foundation to vendor credit, credit cards, and bank credit, the BusinessFinanceCoach business credit builder will take you step by step when it comes to building your business credit asset.

Click here for a free phone consultation on building your business credit

Here are a few more articles on business credit.

Business Credit Score
Building Business Credit
Business Credit Ratings
Small Business Credit
Business Credit Services
Business Credit Builder