Why Building Business Credit Should Be Your #1 Priority

Think of your business credit as your financial reputation. Just like personal credit determines whether you can get a mortgage or car loan, business credit determines if your company is trustworthy when it comes to managing money. And trust us, the stakes are high.

Consider these eye-opening statistics:

• 27% of businesses surveyed by the NSBA couldn’t secure the funding they needed. For 1 in 4 businesses, this lack of funding stifled their ability to grow.

• 46% of small businesses rely on personal credit cards, blurring the line between personal and business expenses (MasterCard®).

• 20% of small business loans are denied due to poor business credit (NSBA).

  
  

If these numbers aren’t enough to grab your attention, think about this: nearly half of small business owners don’t even know they have a business credit score, let alone how to interpret it (Nav American Dream Gap Survey). This lack of awareness can cost you opportunities, partnerships, and financial security.

Why Business Credit MattersA strong business credit score can mean the difference between thriving and barely surviving. Here’s what robust business credit can do for you:

• Obtain the funding necessary to grow your business

• Keep cash flow healthy while covering day-to-day expenses.

• Gain access to inventory, hire staff, or launch new initiatives with confidence.

  
  

On average, it takes 12-18 months to improve a business credit score (Cardhub). So, the sooner you start building it, the faster you can unlock financial freedom.

The Bottom LineBanks, lenders, and suppliers all look at your business credit report to gauge your company’s reliability. A score of 75 or higher is often the threshold for approval—but how many opportunities are slipping away because you’re not prioritizing this crucial metric?

Take action now. Building strong business credit isn’t just about getting loans; it’s about securing your company’s future. Don’t be part of the 27% struggling to grow because of funding issues. Start today, and ensure your business has the financial reputation it needs to thrive. To learn more, make an appointment HERE.

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