1 / 8

How to Build a Business Credit Score for a New Business

If youu2019re starting a new business, a good business credit score is crucial to gaining market credibility. You need to attract lenders and investors to grow your business, and they check on your business credit report to express their interest in working with you. CREDITQ is Indiau2019s 1st Business Credit Management & Information Platform. It can help you to maintain business credit reports.

3634
Download Presentation

How to Build a Business Credit Score for a New Business

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. How to Build a Business Credit Score for a New Business?

  2. Business Credit Score • If you’re starting a new business, a good business credit score is crucial to gain market credibility. You need to attract lenders and investors to grow your business, and they check on your business credit report to express their interest in working with you.  • It’s necessary to maintain an impactful credit report for business; however, it is wise to know how to build a business credit score for a new business. It helps you gain financial stability to make your business successful. 

  3. How You Can Build a Business Credit Score for New Business

  4. Open a Business Bank Account If you’re planning a startup anytime soon, the first thing to do is to open a current business account. It should be in the name of your business. You must pay heed to carry out all your business transactions through this account only. Make business purchases using this account as it will help you score well.

  5. Keep Your Personal and Professional Transactions Separate If you try to misuse your business credit card by making personal purchases, your lenders may not find it suitable to join hands with you. The reason being, they would acknowledge you as not serious about your business, and you may lose out on a good business opportunity. 

  6. Have a Separate Business Address Credit agencies may track your business credit report and find it suitable to work with you only if you understand genuine business ethics. It includes having a separate business address and not printing your home address to attract buyers.

  7. Avoid Borrowing Unnecessary Funds While you want to grow your business instantly, it’s good to have patience as things roll out for you. While borrowing money or availing of loans, you should set a limit as to how much credit is enough for you at this point in time. Some new businesses make the mistake of borrowing more than required and end up repaying a huge amount without making any profit. Be a smart player and let your business grow with time.

  8. Thank You GET IN TOUCH Address: 3/31, Chitrakoot Marg, Arpit Nagar, Vaishali Nagar, Jaipur, Rajasthan 302021 Mob: +91 724-000-0901 Email: support@creditq.in Website: https://creditq.in

More Related