Business articles for Small Business Entrepreneurs by Amy Chen - Business Coach, Consultant and Mentor

A long-term game: What a bad credit score could mean for your business, and how to fix it

An Article from Smart Company

Not only do 76 percent of small business owners feel getting a loan for their business is a stressful and difficult process, the success of your loan application heavily depends on what your credit report looks like.

And if have no idea what your credit profile looks like, you’re not alone: a MYOB survey found only seven percent of small business owners knew their credit score, and only half still had checked their score in the last twelve months.

Given how important credit scoring is to small businesses, I look into what that score means, and how to make yourself more ‘bankable’ by putting the right processes to improve and create a strong credit profile.