BusinessFinance.com Reports That Business Credit Scores Dictate Financing
BusinessFinance.com reports in their Business Finance Coach that business credit scores must be established in order to obtain financing.
Foothill Ranch, CA (PRWEB) September 13, 2006 -- BusinessFinance.com reports in their Business Finance Coach that business credit scores must be established in order to obtain financing. Business credit scores work very much like personal credit scores in that they have to be established to gain any financing.
The Business Finance Coach tells businesses how to properly set up their lines of credit so that they work to grow business credit scores into scores that almost ensure any business can obtain the financing they need. The coach talks about establishing five vendor lines of credit, three business credit cards, and one business loan that report their information to EquiFax, Experian and Dun & Bradstreet.
Many business credit providers and companies that extend vendor lines of credit do not report to the major business credit bureaus. To make it possible to grow and establish excellent business credit scores, it is vital to have credit payment histories be reported to all three business credit agencies.
The Business Finance Coach gives the users listings of exactly which business credit providers and vendor lines of credit will report their payment histories. Businesses can take this information and use it to help establish credit scores. More information on the Business Finance Coach can be found at www.businessfinancecoach.com.
“Business lenders need to make sure that you can repay the loan, and business credit scores are one of the key indicators that your business can repay the loan,” says Corey Pierce, CEO of BusinessFinance.com. "Our Business Finance Coach takes you step-by-step through the process of establishing business credit scores so you are in a position to obtain the capital your business needs."
The Business Finance Coach also shows business owners that there are 20 items that a business must have in place before most lenders even look at the credit scores to approve a loan. Missing just one of these items before you apply for a business loan can result in getting declined.
To complement the Business Finance Coach, www.BusinessFinance.com has the largest Business Funding Directory in America. The directory contains 4,952 sources of business capital that business owners can search for free and match their capital needs to the approval criteria of those funding sources.
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