Access to small-business credit could be a factor that determines whether your business can expand, so many owners build business credit quickly.
Start Building Credit as Soon as Possible
Credit can allow a business to grow. Credit can actually be so important that it determines whether or not a business can continue operating. If a small business is unable to obtain required inventory on credit, for example, the business might be forced to stop operating. In other cases, a small-business owner will need credit to expand and take advantage of additional business opportunities. Because credit is so important, small-business owners should develop a plan to build business credit as soon they start their business.
As with many business tasks, building credit is a specialized task, and it could be best to obtain expert assistance to build credit. Using experts to complete some tasks will allow the small-business owner to dedicate more time to core tasks associated with operations and sales, which are probably the most critical tasks to focus on when starting a business.
Low Cost Help Is Available
CreditBuilderTM is a service offered by Dun & Bradstreet that allows you to focus on your business, and to access experts who can help you building a strong credit file that could improve the chances that your small business will be able to qualify for loans. A strong credit file could also result in lower interest rates when your loan is approved.
This service also allows you to obtain a D&B D-U-N-S® number, and open a credit file in five days or less. That could help you if that number is needed for a contract proposal, or grant application. By accessing this service, it will be a simple process to add positive payment experiences to your credit file, and benchmark your company against the industry. This information could unlock credit for your business, and make growth possible.