{"id":62,"date":"2020-04-10T16:48:21","date_gmt":"2020-04-10T16:48:21","guid":{"rendered":"https:\/\/ancstockinvestments.com\/blog\/?p=62"},"modified":"2021-11-04T16:06:08","modified_gmt":"2021-11-04T15:06:08","slug":"how-establish-build-your-business-credit-score-module-one","status":"publish","type":"post","link":"https:\/\/ancstockinvestments.com\/blog\/2020\/04\/10\/how-establish-build-your-business-credit-score-module-one\/","title":{"rendered":"How to Establish and Build Your Business Credit Score: Module One"},"content":{"rendered":"\n

Almost every young entrepreneur and startup founder I\u2019ve come across complain of access to funding as one of their biggest problems. From where I stand, this is wrong and they\u2019re missing the whole point.<\/p>\n\n\n\n

\"How<\/figure>\n\n\n\n

The key to funding for entrepreneurs, startups, and business owners is for them to establish and build their business credit scores. Not doing this as an entrepreneur is the biggest problem you will ever face. And until you identify this as the problem, financing will always be a nightmare for you and your business.<\/p>\n\n\n\n

What’s a business credit score?<\/strong><\/h2>\n\n\n\n

A business credit score measures your company\u2019s financial health and credit history. Lenders use this score to assess your company\u2019s ability to make payments on time. The information used to calculate your business credit score includes payment history and industry information. Your vendors, suppliers, lenders, and creditors usually have access to this information.<\/p>\n\n\n\n

\"How<\/figure>\n\n\n\n

Credit scores often have a business credit rating scale of between 0 to 100. A score of 100 means your business is least likely to have late or delinquent payments.<\/p>\n\n\n\n

Having a low score could be a real spoiler for your business. What\u2019s worse? Most businesses in need of financial assistance hardly even know their credit score, talk less of aiming for a high one.<\/p>\n\n\n\n

How to check your business credit score<\/h2>\n\n\n\n

Before you check your credit score, it’s important you understand how credit scores are calculated.<\/p>\n\n\n\n

While a business credit score considers many of the same factors as a personal credit score, such as payment history and amount of debt used, business credit scores use different scoring models.<\/p>\n\n\n\n

As already established, business credit scores range from 1 to 100, and the closer to 100, the better for your business. Consumer FICO scores<\/a>, on the other hand, are ranked 300 to 850, with 800 and above considered as excellent.<\/p>\n\n\n\n

Business credit scoring models weigh different factors when calculating scores, but you can anticipate that your payment history, age of accounts, and amount of debt will be considered.<\/p>\n\n\n\n

You can check your credit score from three of the major business credit bureaus: <\/p>\n\n\n\n