Lesson 2 of 25
In Progress

What is business credit?

⏳ Video Length — 00:04:46

Lesson Summary


Like personal credit, business credit is a company’s ability to buy something now and pay for it later. 

Businesses have credit reports and scores just like people — with business credit bureaus like Dun & Bradstreet, Experian, and Equifax who all keep a record of debt payments and other credit information on businesses.

The greatest thing is, building business credit does not require you as the business owner to have good personal credit or use your personal credit scores or ssn – making this a great way to still build your business if your personal credit needs some work.

By establishing a good business credit rating, you make it easier to borrow money when your company needs it without running the risk of damaging your personal credit and finances.