When you first started your business, you relied heavily on personal funds that were either lent to you by some really generous friend or family members or you borrowed against your own personal credit to get the resources needed to start your company. Maybe you had to sign a personal guarantee to be able to obtain an approval for any type of financing from the local banking/financial institution you have been using since you were in grade school.
There comes a time in the life cycle of every business where it will be beneficial to set up a business credit file which will enable the organization to borrow funds or arrange financing with suppliers that does not require a personal guarantee signed by an owner/operator. Establishing a well maintained corporate credit file will also allow you to negotiate better credit terms and lower interest rates with preferred suppliers because they know that you are an honorable and responsible organization that pays for what it purchases in a timely manner.
What we do to assist you:
- Complete initial application and obtain credit identification number for your organization
- Contact your suppliers on your behalf to assist in creating a preferred suppliers list which will in turn allow us to build a credit file with only the suppliers that will most benefit you and your company credit rating
- Advise you when negotiating with new suppliers as well as old ones once the credit file has been established in order to receive better payment and credit terms