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HOW TO IMPROVE YOUR CREDIT FOR A BUSINESS LOAN

January 26, 2010 9:58 pm Published by Leave your thoughts

A strong business credit profile doesn’t just help you secure a loan; it’s also important for attracting new business. Unlike with personal credit reports, anyone — including potential customers, partners and suppliers — can look at your business credit report. Those parties look at your report as an employer would an individual’s resume, says Amber Colley, director of sales and partnerships at Dun & Bradstreet, a business credit bureau.

WAYS TO IMPROVE YOUR BUSINESS CREDIT SCORE:

  1. Keep your information current with all three credit bureaus
  2. Establish trade lines with your suppliers
  3. Make payments to creditors on time or early
  4. Borrow from lenders that report to credit bureaus
  5. Keep your public records clean

In addition to detailing your business’s history of paying creditors, your business credit report will have any public records filed in your business’s name, including bankruptcies, judgments and liens

For more information about how to apply for a business loan contact First Down Funding. Funding small and mid-size businesses in America, fast approval and quick funding.

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