Business Credit and Funding
Simply put, business credit signals your company’s ability to handle its finances, purchasing power and debt.
Like personal credit, business credit is something you build over time. Business credit considers several factors and is expressed in the form of business credit scores.
Additionally, both business credit and personal credit can affect the rates you might pay for goods and services. For example, as a business owner, you may pay lower insurance premiums if your business credit scores are high. You might also qualify for lower interest rates on small business loans or lines of credit if you have good business credit.
These may all come in handy if you’re looking to negotiate longer terms from vendors, which might give you more space to manage cash flow.
We’ll cover the basics of what business credit is, how it’s used, and tips on how you can build your business’s credit.
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Corporate Credit and Funding
“Corporate Credit” is the borrowing ability of a company to obtain its own loans under its own credit score. Thus, a company can apply for a line of credit and without the owner’s personal guarantee, use the money to expand do business. Moreover, the owner of the company is not personally liable for the credit line and their personal credit score has nothing to do with the company’s ability to get ‘credit’.
Improving Your Personal Credit Score goes hand in hand with Corporate Credit
It is possible, but very difficult to slowly build corporate credit without having good credit yourself. However, the sooner you repair your own credit, the faster you will be able to obtain and build your Corporate Credit lines.
A quality Corporate Credit building strategy will always include a plan to improve OR repair your own credit score. Now don’t be dismayed. I’m sure some of you reading this article question your ability to succeed in this strategy because you may have a terrible credit or stated politically correct: have a very low personal credit score. But there is hope!! You can truly improve and repair your credit score over time.
Bad credit can really make your life difficult. When you need credit repair, reach out to Stevens Wealth Solutions, LLC. We’ll guide you through the process of cleaning up your credit and improving your score.
Credit Report Monitoring Services In an economy centered on credit, regular credit monitoring is the key to effective financial management. Contrary to common notion…
Credit monitoring and credit repair is a holistic approach to your credit.
Credit monitoring is only half the equation for healthy credit. The other half? Credit repair. Credit monitoring alerts you to errors — but doesn’t fix them. Removing the errors and boosting your score is a job for credit repair.
Partner with a reputable credit repair company like Stevens Wealth Solutions and have the experience to fix errors in all areas monitored by credit monitoring companies.
Hit the button for Credit Monitering Service with SmartCredit.
Credit restoration is a way to “repair” or delete some of your bad credit history to improve your overall credit score. This is done by disputing the information on your credit report. Through the Fair Credit Reporting Act (FCRA), you have the legal right to dispute any information on your report.
Then, the credit reporting agencies and your creditors have 30 days to investigate and either verify it as correct or remove the disputed marks until they can be verified.
If you have erroneous information on your credit report, then this credit restoration company may be able to help you remove it. And of course, if the erroneous information is causing your score to drop, then this would be a good thing.
But what if your credit report is correct and there are no errors, then Stevens Wealth Solutions may go ahead and dispute the negative marks on your credit report. And if the reporting agency isn’t able to verify the marks within 30 days, those marks will be removed.
Let us restore your credit. Be successful at building good credit and establishing financial stability. Empowering individuals to take advantage of the power of credit.
Stevens Wealth Solutions
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