Category: Business Credit

Building Business Credit History With Everyday Expenses

Building Business Credit History With Everyday Expenses

“I don’t want to take on debt for my business.”  That’s a frequent comment I’ve heard from small business owners who are trying to understand how to establish business credit. They are under the impression that the only way to build credit is to borrow money with small business loans or other types of financing. Here’s the answer I gave that business owner: "You don’t have to use debt to build good business credit scores." You can build business credit… Read More
From Barter to Billion $ Deals: A History of Business Credit & What You Need to Know in 2024

From Barter to Billion $ Deals: A History of Business Credit & What You Need to Know in 2024

The history of money is a history of credit. While many people believe money was created to make a cumbersome barter system easier to navigate, Felix Martin debunks that theory in his book, Money: The Unauthorized Biography, writing: ”...currency is not itself money. Money is the system of credit accounts and the clearing that currency represents.”  And the history of credit is deeply intertwined with the history of business credit. Several thousands of years ago, for example, farmers borrowed to… Read More
Business Credit Building and Monitoring: Nav vs Credit Sesame – Which is Best for You

Business Credit Building and Monitoring: Nav vs Credit Sesame – Which is Best for You

Business owners looking to take their credit to the next level have lots of options when it comes to apps and websites to monitor, build and manage consumer or business credit. Two of those options are Credit Sesame and Nav.  How do they compare? Well for starters, Nav is tailored for business owners, while Credit Sesame is for personal credit only. Read on for a more in-depth breakdown of Nav vs Credit Sesame* for business owners.  How Nav Helps Build… Read More
Build Business Credit by Keeping Cash Flow High and Overhead Low

Build Business Credit by Keeping Cash Flow High and Overhead Low

It sounds like entrepreneurial nirvana: a business with high cash flow and low overhead. For some business owners, it's reality. There are more small business owners than you may realize who operate small businesses that make good money with very few fixed expenses. In fact, the large majority of small businesses in the U.S. have no employees (they’re called “nonemployer firms”), and another subset has just 1—4 employees, which may include a business owner and a spouse or other family member. … Read More
The Role of Credit Scores in Securing Business Financing: What You Need to Know

The Role of Credit Scores in Securing Business Financing: What You Need to Know

Key points: Strong credit scores can unlock financing opportunities for small businesses.  Credit, in turn, can help businesses manage cash flow and grow.  Learn how to build good credit, and leverage it successfully.  What Is the Purpose of Credit? Credit allows a person or business to make purchases they could not afford to pay for in cash. It also allows the borrower to maintain a cash cushion instead of using all their available cash to buy equipment, real estate, or… Read More
Do Subscriptions Build Business Credit?

Do Subscriptions Build Business Credit?

Paying subscriptions can be one way to establish and build business credit. To achieve strong business credit, there are additional steps you’ll need to take.  In the world of personal credit, getting credit for monthly payments for subscriptions—like your cell phone bill or Netflix subscription—has recently become a popular and creative way to help build your personal credit scores with FICO and VantageScore. How does that work if you’re a business owner? Can subscriptions help build your business credit history?… Read More