  photo credit: RambergMediaImages |
I don’t know what’s been landing in your mailbox lately, but I do know that I’ve started to receive special offers extending credit. It’s been a long, dry spell, but I think things are slowly picking up again.
To ensure that your small business gets the credit you deserve, there are a few simple steps you need to take to make sure your business is in tip top shape.
Here are 10 tips you can use to make sure your business is a good candidate for credit courtesy of Dun & Bradstreet Credibility Corp, a provider of credit management and credibility building solutions. If you’re using an online solution to manage your credit, these tips will help.
1. Log all payment activity.
2. Submit all financial statements too. It’s worth it.
3. Always pay vendors on time. Lenders and prospects will see delinquencies.
4. Request vendors to serve as credit references.
5. Ensure all suppliers are reporting transactions with your business. If they aren’t ask them to.
6. Add complete payment and transaction history, including past business relationships
7. Fix any incorrect or out of date business information
8. Set up credit accounts with key vendors such as Staples, Home Depot
9. Clear profile of any UCC filings
10. Can you buy your facility? If you rent, credit score is generally lower
The good news is that your business can get credit. It just isn’t as easy as it used to be. So make sure you have your business details in order.
And if you’re looking for ways to increase your cash flow, pick up a copy of my book Small Business Cash Flow: Strategies for Making Your Business a Financial Success
About Denise O'Berry
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