A Secured Line of Credit is often referred to as Asset-Based Lending (ABL). In simple terms, this means the bank will only lend you money if they have something to back it up—like a mortgage on a house. For businesses, the bank typically secures the loan based on...

An unsecured line of credit is a way for businesses to access cash without needing to pledge valuable assets like real estate, accounts receivables, or inventory as security. Instead, banks look at your business’s gross sales—the top line on your tax return, before...

A business line of credit is one of the most flexible and useful tools a business can have at its disposal. But what exactly is a line of credit, how does it work, and why is it something every business should consider having on hand?

In the previous posts about building business credit, we spoke mostly about the Paydex score. The Paydex score is the most common business score used by vendors, and by some lenders. However, the SBA uses the FICO SBSS score. The SBA requires for many of their loans...

For the last two weeks I have been teaching you how to build business credit. While building your business credit, you likely would like to track the progress. In this post, we will discuss how you can view your business credit reports and track the progress.

Last week we established that in order to build a good Paydex score (business credit score), you need to have at least 3-4 active loans that report to the business credit bureaus. This week, let’s discuss how you can get those 4 tradelines. 

I have spent most of my adult years researching and writing about personal credit. But when it comes to business credit, I can’t call it my comfort zone.  However, many have asked me to please write about how to build business credit. So I spent many hours...