If you’re starting a business, your credit—both personal and business—will be pulled and analyzed by potential lenders. While a low score on either report presents a challenge, it doesn’t have to hinder your development. Business tradelines can help you build credit-worthiness by making your company look strong and lendable.
So what are business tradelines? Basically, ‘tradeline’ is a fancy word for account. Every account on your credit report is a tradeline or line of credit, and each time a new one is added to your report, it increases your credit score. Using the tradeline and paying it off on time each month further helps you establish credit-worthiness. On the personal side, many people establish credit by applying for a credit card, mortgage, or auto loan. A business can build credit through essentially the same process: become approved for accounts, which are then posted to a credit report as tradelines.
We offer strategic consulting on how to increase business credit scores. By offering our clients access to lines of credit for business purposes, we can use credit to clean credit, use credit as leverage to secure funding, and use credit to finance our Business in a Box program. Our process is legal, effective, and unlike anything else available on the market. Interested to learn more? Contact The GrowWise Group today to schedule a consultation. We’ve helped thousands of entrepreneurs turn their professional dreams into reality, and we would love to do the same for you!