Three Steps to Starting Your New Business With a Clean Credit Score
For many people, starting their own business is a personal dream. Before fulfilling your personal dream, it’s necessary to get your personal finances in order. At this early stage you’ll be using your own personal finances to start your business and if you want to succeed you must approach your personal finances with a professional eye.
Avoid funding start-up expenses via credit and running up huge credit card debt. Instead you should apply for a business loan, which has the benefit of being a one-time loan with typically lower interest rates than a credit card. However, in order to get good terms on your loan, you will have to have your credit card debt in order first.
Without an established business credit history, lenders will have to look to your personal credit to negotiate your terms. You don’t want personal credit problems starting your business credit off on a bad foot.
Three Steps to Starting Your New Business With a Clean Credit Score
A clean credit score will help you get the low interest rates you need to start your business on solid financial...