Learn how to limit the use of your personal guarantee and build business credit (regardless of your personal credit history) just by building a business credit profile. Building a business credit profile allows you to:
- Limit your personal liability
- Protect your personal assets from any business losses
- Eliminate the need for using personal credit
- Purchase vehicles without using personal guarantees
- Access more cash for the business
- Purchase items for business with convenience
- Prepare your business for future lending needs
One of the biggest advantages of having a good business credit profile is saving money. By obtaining a more favorable credit score, you will lower the interest you pay on loans and leases.
For example, a good business credit score can lower your interest rate by 3 percentage points, and save your business almost $10,000 over ten years on a $50,000 loan!