Category: Business Credit

Savvy entrepreneurs often form limited liability companies (LLCs) for asset protection benefits, and to legally separate their business finances from their personal finances. But that’s just the start.  There’s another step you’ll want to take after establishing your LLC: Build credit for your LLC. Establishing an LLC and building strong business credit can help your business qualify for a wider range of small business loan options.  In this article, we’ll explore how to build business credit for an LLC, tips… Read More

In April, I did the unthinkable: I swapped my usual work uniform—T-shirt, sneakers, comfortable pants—for formal business attire. The occasion: A hearing conducted by the California Senate Banking and Institutions Committee. The subject: A bill with the very Star Wars-y name of SB-1235. I was there to testify on its behalf. SB-1235, to put it plainly, would require small business lenders to be more transparent about the cost of their products. No more waiting till the last minute to reveal… Read More

As your business grows, so do your needs and plans as a business owner. You've likely used financing or credit cards to help your business grow, but now your needs have changed. You certainly have the option to apply for new financing or a different credit card, but should you ask for a credit limit increase? Business owners, on average, already have more credit cards than non-business owners. A recent Nav survey found that the average small business owner has… Read More

You've got big plans for your small business. With plenty of money, time, tears, and energy put into establishing it, it's time to take that next step. With a wide range of financing options on the market today, Wells Fargo business loans stay competitive. Despite a still-recovering public image, Wells Fargo has a variety of options to help your business grow. Like with any institution, it's key to understand the details of each loan or finance product they offer in… Read More

If you're in the market for a small business loan, you're preparing for a fair bit of paperwork and time spent working with the lender to hopefully get approved. A survey by Nav showed that small business owners spent 33 hours applying for credit with an average of three applications filed with three institutions. Before going into such a time-consuming process, you need to know what you're getting yourself into. Start by checking your business credit score (you can do… Read More