Category: Business Credit

Will Opening a Business Bank Account Ding My Credit?

Will Opening a Business Bank Account Ding My Credit?

If you’re formalizing your business, there are a few tasks you’ll need to check off your list, and one of them is opening a bank account in the name of that business. In addition to increasing legitimacy, it will also enable you to separate your personal finances from those associated with your business – a smart idea for business owners. As you consider opening a business account, you may be wondering what assets you’ll need or requirements you’ll have to… Read More
What Is a Form SS-4 & How Do I Get a Copy of Mine?

What Is a Form SS-4 & How Do I Get a Copy of Mine?

Running a business involves a lot of information and new documents. You're probably learning that you have a business credit score for example, and that you can check it for free with places like Nav. If you're filing your business taxes or thinking of applying for business financing for the first time, you might be scrambling to find a few things for the application. One thing that likely stands out is your Employer Identification Number (EIN), a unique nine-digit number… Read More
Why Your Credit Score Might Drop for “No Reason”

Why Your Credit Score Might Drop for “No Reason”

Credit scores go up, and credit scores go down. If you monitor your credit scores over a longer period of time, you’re likely to run into a puzzling situation at some point. Nothing much changed in how you handle your accounts, but your credit score changed for no reason.  If this happens while you’re in the process of applying for credit cards, small business loans or other types of credit, a credit score drop can be downright scary. Here's why… Read More
Do I Need a Business Credit Score to Get Business Insurance?

Do I Need a Business Credit Score to Get Business Insurance?

With all the time, money, and energy you spend on your business, it's a pretty good idea to make sure you've got some backup. Business insurance is a critical tool for making sure you have the protection you need for your business in case of an emergency. Typically a business will want to get general liability insurance as well as coverage for commercial property, disasters, data breaches, workers' comp, and a variety of other potential costs. There are plenty of… Read More
Know These 8 Things Before You Get a Business Credit Card

Know These 8 Things Before You Get a Business Credit Card

Business and personal credit cards may look similar, swipe the same, and may even offer similar terms and rewards as personal credit cards, but business credit cards have a few distinct differences. As a small business owner, contractor, or freelancer, you can leverage these differences to your advantage. Here’s how to make business credit cards work for you. Benefits of Getting a Business Credit Card A business credit card offers positive benefits to your small business. These include: More flexible… Read More
Can I Raise My Credit Score 100 Points Overnight?

Can I Raise My Credit Score 100 Points Overnight?

When you're a business owner in a cash crunch -- maybe you need some extra capital to make payroll this month, or open a new location -- the last thing you want to hear is that your credit score needs a lot of work before you can qualify for a business loan. You may be tempted when you see ads of promise of quick fixes like credit repair companies. Can you actually raise your personal credit scores 100 points overnight?… Read More