Business Credit 101
How to Establish Business Credit for the First Time
BECI will advocate, educate and train entrepreneurs on start-ups at an affordable cost.
Access to cash and credit is a business’s lifeline. Business credit allows a company to borrow money that can be used to purchase products or services. It is based on the trust that payment will be made in the future.
Access to cash and credit is a business’s lifeline. Business credit allows a company to borrow money that can be used to purchase products or services. It is based on the trust that payment will be made in the future.
Why establish business credit? For business owners, having a separate legal entity, such as a corporation or limited liability company, provides the unique ability to create a credit identity with business credit reporting agencies, also known as a business credit profile. A business credit profile is important because it is used by credit grantors to determine whether or not to extend credit to a business.
DONATE & SUPPORT our 501 c 3 nonprofit:
Your generous donation will help Business Educational Consortium, Inc. help small businesses in need of business development services at an affordable cost.