SMEs and credit scores: What to know about maintaining your business’s creditworthiness (IOL)

While you might be well aware of the importance of maintaining a healthy relationship with creditors in your personal capacity, it’s important to know that a small business’s credit score can be just as much of a ‘make or break’ factor when it comes to maintaining its financial viability in the long run.

What is a commercial credit score?

When entrepreneurs apply for funding, financial institutions may reference the personal credit score of the SME owner for businesses in their first few years. However, as the business begins to gain traction and develop a history with its creditors, it will obtain a commercial credit score. Click here to read full article