Business Credit Approval
Business Credit, sometimes referred to as Trade Credit, is credit that is established under a business's name.
Business credit permits a business owner to use the assets in their business rather than the owner's personal property.
One of the reasons business credit is so appealing is that business owners can commonly qualify with no personal-guarantee (PG).
This means business owners can access cash for their businesses without the personal liability keeping their family safe and secure.
Another reason business credit is a great resource for business owners is that there is no personal credit check with many sources.
So, even business owners with challenged credit can be approved for thousands of dollars of credit for their businesses.
Business credit permits business owners to build a brand new, seperate credit profile for their business. Having personal and business credit profiles doubles buying power.
To qualify for most business credit sources the business must have a positive credit score established with the appropriate business credit reporting agencies.
The two most commonly used business credit scores are the Paydex score from Dun and Brad Street and the Intelliscore from Experian.
Equifax does also offer a business credit report, although it is not used as frequently as the Paydex and Intelliscores.
Once a positive business credit score is established, many merchants will then approve the business owner for credit in the business's name.
Thousands of major merchants offer business credit. But most don't promote their business credit programs, so they are difficult to locate.
Some merchants offering business credit include Chevron, Dell, Staples, Lowes, Office Max, and hundreds more
You can apply for merchant credit with each creditor directly.
Or these and hundreds more merchants who will extent you business credit can easily be accessed using the Elite Business Cash Machine www.businesscashmachine.com.
Once business credit is established and paid-as-agreed the business credit scores will continue to increase.
As more positive credit history is established and scores increase, business owners can then be approved for even more credit with higher credit limits.
Business credit is an outstanding resource for businesses.
Owners can obtain credit to run and expand their businesses without the personal liability of using a personal guarantee.
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