What are some credit related challenges that SMB owners face? |
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Many SMB owners run their company using a combination of supplier financing and personal credit – maybe adding an equipment lease or commercial loan into the mix, and then buy office supplies on a personal credit card, and have the telephone account listed in a personal name.
Being inconsistent in maintaining sound payment practices may result in missing important opportunities to build a solid business credit profile. Whereas having a robust history of steady payments to a variety of creditors boosts the borrowing power of your business and puts other companies at ease about extending credit to your firm.
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