What Is Business Credibility And Does It Really Matter?
The first step in establishing business credit is making sure your business is Credible in the eyes of the banks, lenders, and the business credit bureaus; Dun & Bradstreet, Experian, and Equifax Business credit divisions.
Without Business Credibility, your business is not taken seriously. Your chances of business funding approval are greatly reduced. When building business credit, having business credibility is the bedrock and the first step that should be taken to ensure the best possible growth for your business.
Note, there is a difference between having business credit cards and having business credit. Business credit is primarily recorded by Dunn & Bradstreet and most business credit cards do not report to D&B. If you have a business credit profile that has the strength to help you qualify for a true business loan or line of credit in hundreds of thousands, you want to have a Paydex score north of 80 on D&B. If you have that and you have at least 10-14 tradelines reporting with transaction history, then your business credit is strong and it has depth. Credibility is only Step 1.