Develop A Healthy Credit Plan for Your Business

Step 1 - Gather Company Data & Take Your Credit Temperature

• Collect Your Information
• Examine Historical performance
• Learn the Pillars of Performance

Step 2 - Learn Where You Stand/Take Your Credit Pulse

• Compute Your Financial Ratios
• Examine Your Industry Norms
• Conduct an Industry standards Comparison

Step 3 - Measure and Chart Your Pillars of Performance

• Revenue Stability
• Cost Controls
• Positive Credit Behaviors
• Management Capability
• Reliable Financial Systems
• Strong Fiscal Management
• Consistent Profitability
• Personal/ Business Assets Base

Step 4 - Plan & Control Your Business Growth

• Prepare Quarterly Forecasts
• Balance Concentrations

Step 5 - Credit A Detailed Credit Use Chart

• Define Your Credit Needs
• Learn Types of Business Credit

Step 6 - Prepare Your Credit Plan

• Prepare Your BizCredit Summary
• Rate Your Credit Readiness
• Develop A Credit Improvement Plan

Step 7 - Review & Chart Your Business Credit Progress

If you would like assistance to develop a Healthy Credit Plan for you company, consider participating in a Healthy Credit Seminar. We'll take you step-by-step through the process and help you to chart the course of business credit building for your company. Seminar Sign-Up

Building Healthy Credit is a balancing act. Your#1 priority, as a business owner is to safeguard the health and well being of your business. But, you must also create new opportunities for growth. Doing both is not always easy.

Growing a business requires risk taking. Growing a Healthy Business means balancing business risk, personal exposure and growth opportunities.

These Healthy Credit Solutions can help you safeguard your business credit while your company grows.

• Build & Preserve Business Equity
• Credit Tips for Growing Companies
• Tighten Billing & A/R Collections
• Streamline Your Bill Payment Systems
• Use Vendors to Enhance Your Credit
• Enhance your D & B Credit Profile

Healthy Credit Practices Program Tools can help you improve your business credit decisions.

Healthy Credit Tools can help you along your credit journey, no matter what stage you are at in your business and credit development.

Credit Knowledge Building Tools. Use our knowledge building tools to benchmark and increase your understanding and knowledge about the business credit processes.

Credit Readiness Tools. Use our credit readiness tools to evaluate your readiness for business credit and enhance your overall creditworthiness.

Business Credit Planning Tools. Use our credit planning tools to plan out the steps needed to enhance your business creditworthiness.

Credit Building/Preparation Tools. Use our credit building tools to access, build and protect business credit for your company.

Personal Credit Tools. Use these personal credit tools to strengthen and safeguard your personal credit.

Credit Management Tools. Use our business credit management tools to maintain and protect your healthy business credit.

Your Personal Business Credit Matters

Understanding Credit Scoring. Credit Scoring helps credit granters to measure risk associated with a loan request.. Fair Isaac Corporation, Experian, Transunion, and Equifax each manage credit scoring models that help lenders expedite loan decisions by using pre-established score cards in evaluating credit applications.

Many lenders tie interest rates to the risk level computed in credit scoring. A higher credit scores means less risk associated with a loan request and therefore lower interest rates and often less collateral may be required for loans to a business owner.

Understanding Your Personal FICO Score. Learn more about your consumer credit score and/or gain immediate access to your personal FICO Score directly from Fair Isaac Corporation, the creator of the FICO score used by lenders worldwide.

Get Your Annual Credit Report (Free). Get a free copy of your personal credit information from one or all three consumer credit reporting agencies through AnnualCreditReport.com. Established by joint efforts of Experian, Equifax and Transunion this web-site was established to provides secure access to their credit reports once every 12 months.

AnnualCreditReport.com processes requests for free credit reports under the Fair and Accurate Credit Transactions Act.

Unpaid Taxes & Other Government Obligations Can Stall Business Loans. When applying for federal or state guaranteed business loans, be wary of unpaid or delinquent child support, tax debts or other government obligations, (i.e. student loans,). Such past delinquencies can bring a business loan process to an immediate halt.

Good Business Credit Can Take You Far

Business credit profiles offer many payoffs. Commercial credit information is compiled and stored by credit repository agencies. Dun & Bradstreet (D&B) is the largest aggregator of business credit information in the U.S.

D & B uses a numerical rating system called the PAYDEX Score to report rate a company has paid its bills over the past year. Information is reported to D&B by various vendors. The D&B PAYDEX Score ranges from 1 to 100, with a higher indicating better payment history. Business credit ratings are used to assess anticipated repayment or risk of loss.

Here's a sample ratings chart to demonstrate the anticipated repayment period on the 1 to 100 rating scale. In this example, you can see that the score of 38 means the company is 60+days slow in paying their bills.