The credit profile for your business is linked to your personal credit unless you have taken certain steps to avoid this. If you are just starting your business, then the entire business is you, so your business and personal credit report will initially be linked.
You should consider establishing business credit for one reason: Doing so separates your personal credit from your business. This will prevent either one from affecting the other. For example, if you miss a few credit card payments on your personal account, you don’t want that to reflect on your business credit and vice versa.
Establishing business credit separate from your personal credit is not complicated, but it does take time and effort. You should initially begin by keeping business finances separate from your personal finances. You should then set up a business bank account and keep your books separate.
After you have accomplished these things, it is now time to establish and grow your business line of credit. At BWI Credit Solutions, we can work with you directly and help you establish the business credit that you need. We will put together a fully customized package and plan of action to get your business off to the right start. Contact us today so we can discuss your options!