Category: Business Credit

Uline Business Credit: Everything You Need to Know About a Uline Business Account

Uline Business Credit: Everything You Need to Know About a Uline Business Account

If you want to work on building business credit, start by opening a vendor account that reports to credit bureaus. One of the best starter vendors to help your small business with that is Uline, a company that sells shipping supplies.  In this article, we’ll help business owners like you understand what Uline business credit looks like, who Uline reports to, and how you can get your own business credit with the vendor. What Is Uline Business Credit? Business credit… Read More
Trade References: A Guide for Buyers and Suppliers

Trade References: A Guide for Buyers and Suppliers

When you’re building your business, your suppliers can turn out to be some of your best creditors. They will often extend short-term credit to small business owners so they can purchase the supplies they need without paying up front. This helps them too; they can cement the relationship with the business so they don’t go elsewhere.  If you get trade credit and pay those accounts on time, you can build valuable trade references that can help you establish business credit,… Read More
Bank of America Business Checking Account Review

Bank of America Business Checking Account Review

As a business owner, it’s considered best practice for you to keep your personal and professional finances separate—even if you are doing business as a sole proprietor or independent contractor. Opening a checking account just for your business expenses is an important first step in managing your company’s finances, and will save you time and stress at tax time. What’s more, if you anticipate borrowing in the future there are many lenders who will not approve a business loan application… Read More
Why Was My Business Loan Application Denied?

Why Was My Business Loan Application Denied?

Figuring out why your loan application was denied can be complicated, but that’s where Nav comes in. There are a lot of reasons why a business loan application might be denied, but what most small business owners should be asking themselves is, “What can I do to improve the odds of a successful loan application?” Lenders are basically trying to answer three questions: Can this borrower repay a loan? Does this business have the financial means to make each and… Read More
Cross Collateralization: What It Is and How It Works

Cross Collateralization: What It Is and How It Works

At some point in the life of your business, you may need to borrow money. Whether you want to take advantage of a lucrative investment opportunity, expand, or start marketing a new product, it pays to prepare your business credit and educate yourself in advance when it comes to commercial lending. One method for borrowing this money is through cross collateralization. Keep reading below for a breakdown of what cross collateralization is, how it works, and the risks and benefits… Read More
Trade References—An All-Too Often Overlooked Secret to Business Credit Success

Trade References—An All-Too Often Overlooked Secret to Business Credit Success

Have you ever checked your business credit report and hoped creditors and lenders could have more information on your business? It could be subjective information, like if there is a seasonal pattern to your payment habits, or how long you’ve been doing business with a supplier. It’s something beyond the sheer numbers. You can get this information added to your business credit reports. Have you ever heard of trade references? What is a Trade Reference? Trade references are like financial… Read More