BUILDING BUSINESS CREDIT Private4 months ago - Services - Los Angeles - 11 views
Having business credit provides any business owner some major advantages.
For one, with both personal and business credit built the business owner has double the borrowing power as the owner now has two profiles they can use to obtain credit.
When business credit is built the right way, it can be built with no personal credit check or guarantee. This makes it perfect for credit challenged individuals, and those who want to eliminate their personal liability on their business debts.
All too many business owners get into serious trouble, lose their personal assets, even file personal bankruptcies, all to get rid of business debt. With business credit this doesn’t need to happen as the business owner them self isn’t liable for the business debts, only the business is.
That means in case of default, the lender couldn’t pursue the personal assets of the business owner.
SBA states that business credit limits are typically 10-100 times higher than consumer credit approvals. So, another benefit of business credit is the business can obtain A LOT more money in approvals.
And, business credit can be built quickly, much faster than consumer credit. It takes 6 months for an initial consumer credit score to even be established.
With business credit, it is very practical to qualify for credit within 90 days or less with limits of $10,000 or higher.
Business credit is one of the strongest assets any business can have
How’s your business credit?
Go here to get your FREE Guide here https://tinyurl.com/mwkzymtb