What Is Business Credit?

 

90% of entrepreneurs report that access to business credit and funding is their #1 limitation from starting and growing small businesses.  Our economic development-based, non-profit organization provides a solution to that program.

 

Business credit is credit specifically associated with a business and that business' Employer Identification Number (EIN).  When set up correctly, business credit does NOT require the use of the owner's Social Security Number (SSN), does NOT require personal guarantees, and is not dependent upon the owner's personal credit rating.  

 

While poorly understood, business credit is an overlooked strategic component of a small business' financial planning.  In fact, many bankers commonly refer to business credit as an asset of the business and consider it an economic resource that makes up the financial foundation of a company.

 

As business credit is a very specialized area, most advisors, consultants, and even accountants don't understand building business credit thoroughly enough to be able to diligently walk an entrepreneur through the systematic steps to obtain credit/funding that can make the difference between survival and insolvency, the ability to fund expansion or hire additional staff, and to be positioned to take advantage of opportunities that might arise with little notice.

 

Key Benefits of Business Credit:

  • Easily get money for your business to grow and thrive
  • Available regardless of owner's personal credit scores
  • No personal guarantees needed
  • Much larger credit capacity as businesses have 10x to 100x greater credit capacity compared to personal credit
  • Increases company value
  • No financial statements required, in most cases
  • Options available to pre-launch, start-up, and existing businesses

 

Click here to request more information.

 

 

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