31 May '17, 1pm

How can you build business credit? 4 ways to start on the right financial foot.

When you own a business, you have a whole new set of credit scores to build, and the sooner you start, the better. Taking the time to build business credit now can mean that you’ll be able to get the loan you need for expansion later. Plus, it will be the most significant factor in determining your interest rate. By understanding how business credit works, you can put your business in a better position financially. Know the different business credit scores There are four credit bureaus that assign business credit scores: FICO assigns a Small Business Scoring Service (SBSS) score from 0 to 300. Dun & Bradstreet assigns a PAYDEX score from 0 to 100. Equifax assigns three scores: a payment index from 0 to 100, a credit risk score from 101 to 992 and a business failure score from 1,000 to 1,880. Experian assigns a business credit score from 0 to 100. If you’re in the market fo...

Full article: https://www.godaddy.com/garage/smallbusiness/manage/how-c...

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