5 Steps to Build a Strong Business Credit Profile
Get the funding you need now!
Presented by Amber Colley
We know:• Small businesses are the
backbone of our economy• Women business owners are
on the rise! • 1.5 X higher than national
average• 200K + in the past year!• 550 new firms/day!
• Women business owners seize unique opportunities!
Women Business Owners
We’re moving the economy forward!
Our Role in Our Economy
Know a business owner who could NOT get: • Lease terms?• Freight terms? • Payroll credit? • National distribution? • Lucrative jobs on bids• Line-of-credit increase?
Does Business Credit Matter?
Great business credit is a key to funding your biz growth
• Economic growth requires small business growth
• Small businesses need access to capital to grow
• Banks want to loan• Qualified small business
owners are hard to find!
The Problem:Facts:
What is Business Credit?
Benefits of Improved Biz Credit
• More sales & loan opportunities
• Better financing rates & terms
• Improved biz credibility for increased deals & sales
• Increase in your line of credit• More competitive inventory
management• Better Cash Flow
Overview• Intro: Why you should
care? • Who are we? • Understand how
business credit tracking works
• Concrete steps you can take to improve your business credit
174 year-old startup
• Character• Capacity• Capital• Collateral
Source: Original Credit Report from The Mercantile Agency, November 22, 1893
Did you know? • 85% of commercial lenders use the D&B
Commercial Credit Score in their decision making• Most credit decisions under $100K rely on credit
scores for automated decisions.• There are over 1.5M updates to the D&B
database every day• A DUNS number is required to do business with
the Fed Gov, most major retailers and many other companies
How D&B Tracks Business Activity
Lack of Information is Not Neutral
5 Steps to Improve Biz Credit
1. Check Your Business Credit File2. Establish a Business Credit History3. Pay Your Bills On Time4. Monitor Your Business Credit Profile5. Monitor Your Customer’s & Vendor’s Credit
Example: Business Deals• Manufacturer didn’t
maintain their profile• Given 10 days to fix or
lose major retail customer
Take Home Lessons• SBA says:
Insufficient or delayed financing is the most common reason for business failure
• Don’t wait until it’s too late!
Questions? We’re Here to Help!• White Paper: Securing
Capital in a Crunch• Ask us for info on your
vendors, suppliers, competitors and/or customers
• Talk to one of our staff to discuss your individual business needs
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