Business Credit Has Its Benefits
Business → Marketing & Advertising
- Author Michael Richland
- Published December 1, 2010
- Word count 557
There are numerous benefits awarded to you when a lender decides that you have 'good' business credit. These benefits include (but not limited to) a low interest rate, which can be at least under 10%, but approximately 5% with really outstanding credit scores. High credit limit is another advantage, as it is already a well know fact that the better your credit, the higher the credit limits you receive.
A confident entrepreneur is one who initiates creating the business credit score even as they work on structuring the business. This is essential as no business can continue over the long run unless funds are provided at appropriate times. The entrepreneur can lay a solid foundation for obtaining finances as and when needed. This makes it easier to change the business direction to meet up-and-coming market trends and ensures the success of the business in future.
Almost every business will, at one point, involve an influx of money to facilitate expansion costs, operating expenses, inventory, legal fees or a range of other items that the business may have need of in order to operate. The most awful blunder you can make is looking for financial support when your business needs it most. Lenders often operate in a counter intuitive way: they extend cash credit lines to businesses that don't need the capital.
As we all know, lenders want to loan money. It's the only means they make money for themselves. But, they don't simply want to give away their money. For a lender to have enough confidence in an individual or business to lend money, they require some sort of guarantee that they will receive their payments. Where do lenders get the data they use to make a decision? Of course, they check business credibility and credit history. So a big benefit of having a good business credit is that you'll your money approved right away.
A few of the outstanding benefits of having a business credit are as follows:
· Increase your businesses' ability to obtain cash credit 10 to 100 times greater then you can obtain personally.
· Improve the appearance of your businesses' funding capacity and stability.
· Protect your personal assets and liability when you get approved strictly using your businesses' credit profile.
· Increase the credit limit capacity for you and your family.
· Eliminate personal liability you have on your existing business debt by balance transfer from personal credit to your business credit.
· Eliminate inquiries on personal credit when applying for business financing.
· Reduce your tax burden and improve accounting
The one BIG, in fact huge, benefit of business credit is that it never puts you, your family, your loved ones or your friends at risk. A number of people have made the error of putting their personal financial strength on the line, just because they don't know any better! This is one mistake you absolutely need to avoid. Financing is a serious element of a running business model, and there are ways to finance your business that don't put you at pointless risk.
Our business credit advisors specialize in showing you how to get and build business credit without any personal guarantees. As a matter of fact, if you follow our proven methods you can be assured of getting approved for business credit. To get a Free Business Credit Consultation, just call 1 702 925-8377.
At http://wwwNBSCGroup.com we specialize in helping our clients get approved for business credit. If you follow our proven system, then we can get you approved for business credit with no need for your personal guarantee. For a FREE, no obligation, business credit consultation, visit us at: http://www.NBSCGroup.com or call 1 702 925-8377.
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