Like personal credit, it’s important to regularly monitor your business credit. Having a business solid score can help you in a number of ways, including:
- Obtaining a business loan or line of credit more easily and with better terms;
- Convincing suppliers to extend business credit and/or offer you better payment terms; and
- Boosting your business’ reputation with potential partners, vendors, and suppliers.
You should begin building your business credit rating as soon as your business is up and running. And if you’re already going, it’s never too late to start. Here are some ways to do it.