8 Ways to Improve Your Business Credit Score & Funding Eligibility
You might have heard of personal credit scores and what they can do to help your chances of getting approved for loans and credit cards, but you may not be familiar with business credit scores, or what they can do to help you start and grow your business in ways that suit your specific needs. Chiles Capital offers business credit score consulting that’s tailored to your company’s needs, helping you improve your score and eventually get more funding from outside sources. Here are 10 ways to boost your business credit score today!
1) 3 Key Factors to your Business Credit Score
The three key factors that go into determining your business credit score are: Payment History, Utilization of Available Credit, and Length of Time with the Same Company.
2) Assess your Personal Credit File
Chiles Capital is a professional business consulting company that helps people and businesses establish good credit by repairing their personal and business credit files. Chiles Capital guarantees that all information on your file will be accurate, updated, and follow the law. It’s time for you to see if there are any errors or discrepancies in your personal credit report. You can have an expert at Chiles Capital examine your personal credit history in detail and help you work through any discrepancies or errors with one of our specially trained Account Representatives. Sign up today for FREE.
3) Assess your Business Credit File
If you’re in need of business financing, have a low credit score, or are looking to improve your personal credit score, Chiles Capital can help. Our business credit consultants have helped hundreds of clients repair their credit scores and qualify for loans and funding. We’ve also been able to give them invaluable advice on how they can improve their business credit file so that they can grow their business more quickly. Make sure you track your business credit score, we recommend Dun & Bradstreet.
4) How to Raise your Scoring
Having a low credit score is not the end of the world, but it can make business financing and loans difficult to obtain. If you’re looking for ways to raise your score, here are a few simple things you can do:
1) Pay your bills on time. 2) Don’t apply for too much credit at once. 3) Cancel accounts that you no longer use or need. 4)Negotiate an interest rate reduction with creditors if you have a high balance on one card.
5) Leverage Your Skills / Expertise – We Have Affiliate Programs
Chiles Capital provides credit repair and credit consulting services for entrepreneurs. Our expert team of experienced advisors will help you raise your personal and business credit scores so that you can qualify for a business loan or funding. We specialize in helping businesses grow through our various consulting services. Contact us today to learn how we can help you improve your business credit score so that you can get the funding that you need!
6) Raise Capital Through Self-Funding
Raising capital through self-funding is always an option, but it can be costly. For example, if you need $100,000 in funding and you pay yourself back 10% each year over a 10-year period, the total cost will be $160,990. Not to mention the fact that you would have had the money in your bank account all this time.
A better option may be consulting with a business consultant that specializes in commercial loans or finding a lender that offers self-funded business loans.
7) Boost Funding through Micro-Lending Platforms like P2P Solutions Group, Inc.
Business credit scores are crucial for business success. The higher your score, the more likely you will be able to qualify for loans and funding. Low credit scores can stop a business in its tracks. Chiles Capital is here to help! We offer a range of services that can help improve your company’s credit rating and qualifications for loans and funding.
8) Apply for Loans from Banks or Lenders by Improving your Personal and/or Business Financial Profile
To be able to obtain loans from banks or lenders, you will need a good personal and business credit score. However, since your personal credit score is separate from your business credit score, you will need to work on improving them both.