business credit cards on computer

Biggest Advantage of Having Business Credit

The biggest advantage of having a good business credit is saving money. By improving your credit score you will lower the interest you pay on loans and leases.

For example:

Average Credit Good Credit
Loan Amount
Length of Loan
10 Years
10 Years
Total Paid

Savings for having good credit = $13,285

The Goal is to:

  1. Establish good credit with the major business  credit bureaus.
  2. Develop the all-important Business Credit using your Business Tax ID number instead of your Social Security Number.
  3. Obtain a Business Credit Score for your business. Without a business credit score, your business will never qualify for credit.
  4. Obtain open lines of credit for your business without personal credit checks and personal guarantees.
  5. Improves your businesses ability to obtain vehicle leases, lines of credit, or loans under the company’s name.
  6. To keep your business out of the dreaded high-risk, no-credit status.
  7. Save money by bettering your credit score and lowering interest rates. 

To establish the best credit score (75 or better), you need to do the following:

  • Find reporting companies and consistantly purchase from them over a 4 to 6 month period.
  • Obtain 5 or more positive trade references.
  • Once you obtain your gaol, continue to purchase from them to keep your score current and strong.

For more information, visit Ace Management Group and download the Business Credit brochure.