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Building credit for your business is like bringing along an umbrella if you expect it is going to rain. Your business may need access to credit to help cover unexpected costs. If you have not prepared for the unexpected, then you could be turned down for a loan and ultimately face serious debt.
Building business credit is an active process required to maintain good standing with creditors, lenders, and customers.Good credit helps to establish lower-interest loans, business credit cards, and reliability with suppliers. Failing to follow the proper credit building steps, and properly monitoring your business credit score, could result in serious financial consequences.