Business Credit Repair
Posted on February 23, 2009
Filed Under Credit Repair |
If you have started your own business and been late on some payments, then your business credit report could be damaged. The good news is that many of the same principles apply to repairing your business credit as it does to personal credit repair. I will be reviewing some of the things that can be done.
If you have an separate entity set up for your business (such as an LLC, S or C Corp), then your business debts will be reported on a business credit report (often the Dunn and Bradstreet report). The first step for this is to obtain a copy of your credit report.
Then you will be able to walk through your debts line by line and see what is considered late and what is not. Just like repairing your personal credit, it is important to make contact with all of your creditors and make sure to get your report cleaned up.
This is particularly important for capital intensive businesses that will continually need to be borrowing money. If your business is unable to secure financing for future projects, equipment, or inventory, then your cash flow could essentially be shut off. So, repairing your business credit score is very important indeed.
To, learn more about business credit repair, visit our free credit repair course.
