Micro-business growth opportunities often strike unexpectedly. And most times, seizing a niche requires finances. But sometimes, the amount you’ve saved may be too little—meaning you’ll need extra funding to initiate your project. There are a number of ways to you can go about it, but things work much faster if your business credit is in check.
However, small business owners forget that personal credit greatly determines whether you receive business credit or not. Any lender or business credit card provider will ask for a personal guarantee, so conditions will be unfavorable if you have a weak score.
Rarely can you acquire commercial credit based exclusively on your company’s credit record, unless your business is well-established? So the only way to enjoy the best business credit offers with a weak or poor personal credit history is to buff it up—build your credit profile.
Here’s how to build credit
1-Monitor your personal … Read more