Three Best Ways to Build Business Credit
Small-business owners need a strong business credit history to obtain financing, but how can they build credit when banks and credit card companies are not lending to businesses without this history? Fortunately, there are other ways to build credit and prove credibility to lenders. Form a business entity for liability protection, have an accountant validate financial statements for legitimacy and keep licenses current for viability. Also, register with commercial credit bureaus and build credit with providers that can report your payment history to these bureaus. Finally, promptly pay bills and only apply for "good debt" loans.
Source: WSJ.com | October 23, 2009
Printer-friendly version
Send to friend
PDF version
