This post was originally published on On Deck
Do you know your business credit score?
Running a small business means making constant financial decisions — often with limited time and information. One factor that can quietly shape many of those decisions is your business credit score.
Whether you’re applying for a business loan, opening a business credit card or negotiating payment terms with vendors, your business credit score plays a key role in how lenders and partners evaluate your business.
Here’s what you need to know about why it matters — and how it can benefit your business.
What are the benefits of a good business credit score?
A good business credit score can make it easier to access funding, reduce costs and give you more flexibility as you manage your business finances. Here are some of the most important benefits:
Lower interest rates and better terms
With a higher business credit score, lenders may offer lower interest rates on loans and lines of credit, which can reduce your overall cost of borrowing. You may also qualify for higher credit limits, giving you more available credit to work with, along with more favorable repayment terms that better align with your cash flow. Over time, these advantages can make
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