1. What is business credit?
Your business credit record is the primary way that companies evaluate whether to do business with you—and on what terms. Companies rely on your business creditworthiness to make critical decisions, including whether:
to sell to you
to lend you money
you are viable as a partner
to lease the equipment you need to grow your business
to increase your line of credit
to help you carry more inventory at competitive prices
to give you favorable financing rates and terms
you stack up favorably against other companies competing in your market space
Business credit includes a variety of data points about your business, such as the date it started, the skills and experience of your top leaders, number of employees and annual sales. This type of information is listed in your business credit profile, along with scores and ratings that are derived from your business’s past behavior to predict its future behavior. For example, your ability and willingness to pay your bills on time in the past is factored into your ability and likelihood of paying your bills in the future.
2. What role does your business credit play?
Good credit is the lifeline of your business. It enables you to obtain funding for things like expansion, capital expenditures, research and development, and staffing. It is the principal contributing factor to your business’s future growth, not to mention the cash necessary for survival. Good business credit also allows you to keep the cash you have to cover your cost of doing business ; such liquidity lets you respond quickly to time-sensitive requirements, without halting or compromising operations. That is why you need the experts at B2B Credit to help you establish, grow and
protect your business’s credit.
3. Why is my business credit important to me?
Good credit is the lifeline of your business. It enables you to obtain funding for things like expansion, capital expenditures, research and development, and staffing. It is the principal contributing factor to your business’s future growth, not to mention the cash necessary for survival. Good business credit also allows you to keep the cash you have to cover your cost of doing business; such liquidity lets you respond quickly to time-sensitive requirements, without halting or compromising operations.
It's not just about getting access to financing; business credit has increasingly become the primary vehicle for setting terms on business loans, determining insurance premiums, even setting lease payments. Good business credit can earn you lower rates, strengthening your cash flow.
4. What do I need to get started with B2B Credit?
To get started in having B2B Credit build your business credit you will need the following;
- a name for your company
- the name or names of all owners
- a physical location for your business, home or office, no PO boxes
- a phone number for your business
- an email address
- a credit card as we bill you monthly for as long as you use the service. No checks or money orders
are accepted
Remember, your business must be real and not an attempet to build personal credit by your business.
5. How do other businesses get information about my business credit?
D&B is the leading supplier of business credit reports worldwide. When a company wants to perform a business credit investigation on your business, they request it from D&B in the form of a business credit report, an integrated view of a company’s operations and finances. Credit managers and analysts use these reports to learn about your business credit and creditworthiness, so it is essential that you have one. Without reporting information, they may not be able to locate and, therefore, properly assess your business.
6. How long does it take to build business credit?
Normally it can take anywhere from 6 to 9 months to build your business credit. Depending on the types of credit you are seeking, it can take up to one year to build. For example, if you are looking to get into auto financing, this will take 12 months. If you are looking at real estate, the process can take 12 to 18 months.
7. Do I have to sign up for a set amount of time?
No, you are not locked into any term or agreement as far as the building of your business credit. The time it normally takes to complete this program is 6 to 9 months. If you feel after a few months you want to cancel, there is no hidden fees involved, just notify B2B Credit that you would like to cancel your services and your monthly billing will stop that month.
8. Is this program for startups or people who are already in business?
B2B Credit has built business credit for people just getting started with no revenue to date all the way up to businesses with over 2 million a year in sales. The current state of your business will not prevent us from building business credit for you.
9. Does B2B Credit offer a money back gaurantee?
Yes, B2B Credit will gladly refund you 100% of your money if we fail to build business credit for your business without using your personal credit. B2B Credit will refund you your full payment minus incorporation fees if applicable within 72 hours of the request if we fail to build credit under your business within the first 60 days.