Business credit reports are typically created by credit bureaus when borrowers report information about their business credit accounts. These reports are sometimes checked when deciding whether to issue a business loan.
Business credit is your business's ability to borrow money. Your business score affects your chances of getting products like credit cards and loans, credit bureaus, lenders, dealers and sellers tell you how and the odds you'll pay off your debt on time.
It let you get the money you need to cover overheads, buy inventory, hire more staff, and have cash on hand to pay the bills to run the business. By taking the necessary steps to establish business credit, your business will be more financially viable.
Dun & Bradstreet, Equifax Business, and Business Intelligence are the major agencies that track businesses' credit scores.
Still, it's worth keeping track of your business credit, especially if you're considering applying for a business loan in the future.
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