This post was originally published on On Deck
In business, credit is crucial. It can make or break your ability to grow and sustain your company. For many entrepreneurs, understanding and effectively managing your business credit score is key to securing financing, negotiating favorable terms with suppliers, and maintaining a healthy cash flow.
One fundamental aspect of building strong business credit is the use of business tradelines. So let’s delve into what business tradelines are, why they are important, and how they can help you build business credit.
What are business tradelines?
A business tradeline refers to any credit account listed on a business credit report. These are different than a general tradeline, which is a record of activity from any type of account (personal or business), including term loans or lines of credit.
Specifically, business tradelines are reported to business credit bureaus and play a significant role in determining your business credit score. Business tradelines are the building blocks of your business credit profile. They provide a comprehensive view of how your business manages its financial obligations and interacts with creditors. Having a number of well-maintained tradelines contributes to a strong business credit profile.
How can business tradelines help me build credit?
Business tradelines can help you
— Read the rest of this post, which was originally published on On Deck.
