Building your business credit doesn’t have to be a difficult task. Above all, the key is diligence. Reporting, monitoring, and correcting your business credit are all tasks that should be integrated into your schedule on a regular basis — at least quarterly, if not monthly. Taking care to ensure the completeness of your public credit profile can prevent obstacles down the line.
Credit MRI's Business Credit building services have been developed to help business owners establish and grow a business credit in order to secure new funding opportunities for your business.
5-Reasons Why Your Business Needs to Build A Business Credit Asset
1) Access to funding and managing cash flow is the single biggest concern for business owners. By establishing and building Business Credit Asset, businesses can access new funding sources to ensure positive cash flow.
2) Secure new financing options. A strong business credit file can be the difference between receiving funds or not. Approval for most small business loan decisions under $90,000 happens automatically, often relying on one thing - your business credit file and score.
3) Get the best credit terms. Your business credit score will likely result in better credit card and loan interest rates. For businesses with weak credit scores, banks and lending institutions may increase loan interest rates from 7% to 12% and credit card interest rates from 8% to 18%.
4) Reduce your expenses. Building a business Credit Asset can improve cash flow by reducing:
Credit Card Rates
Vendor and Supplier Terms
5) Peace of mind. Protect your personal assets and reduce your personal liability by creating a separate corporate entity and business credit. Establishing your business credit asset only strengthens this liability protection.
Contact the Business Credit Building specialists at Credit MRI today, for your case evaluation.
Why work with Credit MRI?
Most companies will only work with the credit bureau, performing a quick, superficial scan of your credit report. Credit MRI delves deeper, completing a full audit of not only the credit bureau, but the collections agency and the original creditor as well. Plus you’ll start seeing results before you pay us a cent. We know the law.