7 Easy Steps: Determine Business Credit Score Worthiness

Having a strong “business credit profile” is a great way to not only attract new business but also increase brand awareness. A company’s business credit report can be reviewed by the whole world. This includes potential business partners, vendors, customers, suppliers, etc. Vastly different than a personal credit profile, a business credit report profile can be accessed by anyone without consent.

Are you operating your business on your personal credit? This is ultimately considered the death of any business. If you seriously want to grow your company or brand you will need business credit! 

Most entrepreneurs don’t even know that there are actually seven key factors that determines a business credit score. These seven factors reveal what “ability” the business will likely have to pay back creditors. 

Simply put every business or brand needs these seven things to establish their business credit score worthiness. 

First off, every business should have a credit score. The range of business credit scores are from 0 to 100. The lower the number the more of a higher credit risk a business is considered. 

Business Credit Score

These are the main seven key factors to base what kind of credit risk a business will be. This is how a “business credit score” is calculated from these seven factors. 

1. Trade 

The number of trade experiences a business engages. 

2. Balance

The amount of outstanding balances for the business.  

3. Payment 

The payment habits of the business. 

4. Credit 

The business credit utilization of available credit. 

5. Trends 

Business credit trends over time. 

6. Public Records 

What appears in public records about a business. 

7. History 

History of business credit profile and demographics. 

Pre-Qualify for Business Credit 

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