Benefits of Business Credit
All small business owners should be interested in developing business credit. Most choose not to take business credit serious. But why? Business credit begins the transfer of accountability from personal credit/assets to the business. This is where it belongs. A business has its own EIN (Employer Identification Number) for a reason. The business has certain limits on liability. Therefore, a business owner should further these protections by developing stronger busines scores.
Business credit has become more popular over the past five years. The reason is because more lenders are make decisions based on business credit. This limits hard credit pulls on personal credit. There are many suppliers that base the decision entirely on business credit. This eliminates the need to even do a soft pull of personal credit.
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