Reporting Fraudulent Transactions on Your Business Credit Card

We live in a world where credit card fraud is the new normal. In 2018, the Federal Trade Commission received 167,000 reports from people who either experienced fraud on an existing credit card account or had an unauthorized credit card opened in their name. That’s just the number of people who reported the crime. The actual number of credit card fraud victims is undoubtedly much higher. Although most people think of consumers when it comes to unauthorized credit card charges, Read More

Personal Credit Cards vs. Business Credit Cards

You’re probably already familiar with the way personal credit cards work. As a business owner, you might have opened a credit card account or two for your company as well. Yet while the pieces of plastic you carry in your wallet may look similar, personal credit cards and business credit cards have some key differences. Here are four important facts about personal and business credit cards that you should know. Personal Cards vs. Business Cards 1. Business credit cards might Read More

Correcting Incorrect Information on Your Business Credit Reports

Building credit for your business takes time. Sure, there are tools and helpful guides which can make the process easier. Yet the truth is that establishing good business credit scores requires a lot of effort and consistency on your end. If your business has earned good credit scores, kudos! There’s no doubt that you worked hard to make those good credit scores a reality. But what happens when all your hard work is suddenly derailed by something that isn’t your Read More

How to Build Business Credit from Scratch

Building credit for your company is a wise use of your time as a business owner. There’s a lot of value in establishing good credit for your business. Having solid business credit can help you to qualify for a business loan or credit card. It can make it easier to take out leases and commercial rentals. Good business credit might even help you save money on your monthly insurance premiums and contracts with suppliers. Perhaps most importantly, building credit in Read More

Best Practices for Managing Your Business Credit Card Accounts

When you open the right business credit card, it can come with some pretty great perks for you and your company to enjoy. For starters, business credit cards can simplify accounting and help you to keep business and personal expenses separate. They can offer you protection from fraud. With a business credit card, you may be able to earn cash back or other valuable rewards which can help stretch your company dollars ever farther. And, of course, perhaps the biggest Read More

The Difference Between Personal and Business Credit Reports

You probably already know that when you want to borrow money, your credit is one of the first keys to qualifying. The better the condition of your credit, the more likely you are to receive favorable rates and terms as well. Of course, as a business owner you don’t have just your personal credit reports to manage. You need to pay attention to your business credit reports as well. Understanding the differences and the similarities between your personal and business Read More

Why Do You Have to Sign a Personal Guarantee for a Business Loan?

Any business loan represents risk for the lender — the risk of not getting repaid in full. Before your application can be approved, the lender is going to take steps to make sure doing business with you is a good decision. (This is true whether you are applying for funding to grow your business or seeking a loan for personal reasons.) To reduce the exposure to risk, a lender needs to believe that the odds of you repaying your loan Read More

How to Remove a UCC Filing

Qualifying for business financing is often a tricky process. To increase your chances of approval, a lender needs to believe that loaning money to your company is a smart financial decision. In other words, your business needs to have an acceptable level of risk in the eyes of a lender. How can you achieve this level of credit worthiness for your business? Having solid business credit scores and a credible, established business with healthy profits is a great start. You Read More

4 Ways to Work on Your Business Credit in 2019

You have big goals for your company in 2019. Growth, higher profits, and a better online presence might be at the top of your list. However, if building your business credit isn’t part of your plan, you may be overlooking an important milestone. Your business’ credit can play a significant role in the long-term success of your company. If you’ve ignored this fact for a while, you’re not alone. Business owners are notoriously busy. Building positive business credit is one Read More

How are Commercial Credit Bureaus and Lenders Using Social Media to Make Credit and Lending Decisions?

Your social media accounts are places where you can connect with others. They are platforms where you can seek entertainment or seek to entertain. They are places where you can market and grow your business. What you might not realize, however, is that your social media accounts may also be used for a very different purpose. Those accounts you use to try to grow your brand could impact your ability to borrow money for your business as well. Why Commercial Read More