OT : building business credit

[SoCal]

Just adding to the knowledgebase here. Aside from having a business credit card and good standing business related loans, any other devices to build good business credit? Shortcuts appreciated. thanks

 

[shdw01]

I am NOT in the business loan granting position so my opinion doesn't mean much.

If I were gonna give out a business loan to an existing business (sounds like your situation), I would look at:

1) Assets (I guess without huge existing liabilities)
2) Income

If I see you have constant flow of cash with little expenses, I would feel better about getting paid.....or if you have assets, I feel as you have value.

 

[MrCleo]

do you have business cell phones?

 

[SoCal]

This question is just generally speaking.

- devices to help build business credit aside from a good a standing SBA and a good standing business credit card

cell phone use? how so ?

 

[MrCleo]

you can build business credit by paying the cell phone bills....that is after you get phones issued to your company

 

[SoCal]

thnx for the input shdw and mr. cleo. anyone else... just add to the thread. I changed industries recently and, as a consultant, this type of gathered info will help some of my new clients. start up businesses, low credit profiles...

 

[teamogf]

I work a business banker..shoot me an email and i will give you some idea on how to start building some credit..