* About business credit
A business line of credit is very common form of financing which is offered by the most of the business banks. A business line of credit is a true asset of a business to help meet the short term working capital needs like covering cash flow shortages or purchasing increased seasonal inventory or unforeseen operating expenses. The amount of your business is able to receive from a business line of credit will depend on your business of both the past revenues and projected annual cash flow.
In most cases your business to be profitable and able to repay debt on regular monthly payments. A business line of credit is revolving as same like as a credit card, is based on an adjustable market based internet rate.
Build strong business credit scores the fastest possible way with all three agencies and make thousands of dollars in credit available to your business.
Ø For lenders to approve you there are 20 compliance items that need to be completed first : –
Your business must have completed all 20 compliance items before lenders
Can approve your business financing request
Ø Lenders want your business to have open files and good scores with all 3 nations reporting agencies :-
Your business must have a file open with all three national business credit agencies
experience. small business Reports Equifax Small Business Financial Exchange and Dun &
Bradstreet. We get them set-up fast.
Ø Your business must have 3 business credit cards that report : –
There are over 500,000 vendors extending credit, but only 6,000 that report to Business credit agencies you can obtain thousands of dollars in vendor credit lines not based on your personal credit reports.