Page 4 - Everything You Need To Know About Personal and Business Credit by Adrean Yancy

Everything You Need To Know About Personal & Business Credit

INTRODUCTION

Do you know that nine out of every ten business people you know have little or no
knowledge about business credit? According to Entrepreneurship.com, nine out of
every ten businesses in the US have failed. It makes sense now, huh?

Do you also know that business credit is the bedrock on which big rms like Apple,
Walmart, Facebook, etc., depend to scale? Maybe you do not know how crucial
business credit is for your business. If you want to scale up your business, your access
to business credit is the quick x.

Or maybe you have plans to use your personal credit instead. If this is how you plan to
nance your business, then stop right there. Why? You asked. Well, using personal
credit for business scaling has serious severe e ects.

This has resulted in many using their personal credit pro le for business reasons. And,
of course, as you know, there is a deal of consequence that comes with such.

What all this means is that getting access to business credit is the engine that drives

your business. It is the bedrock of your business growth and expansion. It also a ords
you the means to spend daily, buy stocks and inventory, hire sta to help you do other
things as well as have cash at hand.

You must understand the necessary steps involved in getting good business credit, as
this will position you well for more nancial opportunities. The nancial institution
looks at how good your credit score is before anything else. With a good and strong
business credit score, you position your business to earn the trust of lenders,
creditors, suppliers, etc.

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