Business credit reflects a company’s financial responsibility and is used by lenders, investors, and partners to evaluate creditworthiness. Strong business credit is essential for securing loans, favorable payment terms, and competing in the market. Poor or unestablished credit can hinder growth, and lack of financing is a leading cause of business failure.
Business Credit Reports
A business credit report is a profile compiled by credit reporting agencies that summarizes a company’s financial history and risk level. These reports typically include details such as business credit scores, payment history, outstanding debts, public records, and credit inquiries. Lenders, investors, and suppliers rely on business credit reports to assess financial responsibility and evaluate the likelihood of timely repayment. Learn more about business credit reports and bureaus.
Establishing and Building Business Credit
Business credit building is important when a company is new or has not yet developed a financial track record that lenders and partners can evaluate. Establishing business credit typically involves creating a legal business identity, opening accounts in the company’s name, and developing a record of responsible borrowing and repayment. Over time, consistent on-time payments and low debt levels help strengthen a company’s credit profile.
Repairing Damaged Business Credit
Business credit repair becomes necessary when a company’s profile reflects errors, late payments, or other negative marks that harm its reputation with lenders and vendors. Repairing business credit generally centers on addressing inaccuracies in credit reports, resolving outstanding debts, and restoring a pattern of reliable payments. These efforts can gradually improve how lenders and partners assess the company’s financial trustworthiness.
If you need help with business credit, North Shore Advisory is here for you.
North Shore Advisory Services
North Shore Advisory offers a range of services to help businesses manage and improve their credit.
Business Credit Repair
- Fixes, updates, or deletes incorrect or harmful information on business credit reports.
- Addresses the unregulated nature of business credit reporting that can lead to errors.
Business Credit Monitoring
- Tracks credit profiles over time to assess risk, spot fraud, and identify negative changes.
- Monitors reports from major credit bureaus (Dun & Bradstreet, Experian, Equifax).
- Takes action to remove any harmful information found during monitoring.
Business Credit Building
- Helps businesses establish and strengthen credit separate from the owner’s personal credit.
- Offers expert guidance and customized strategies to build a strong credit profile.
Pricing
Service fees are based on the complexity of the credit issues, the number of agencies involved, and how long repairs or improvements will take. A quote is provided after reviewing the business credit reports.
Don’t let weak or inaccurate business credit profiles hold your company back. Partner with North Shore Advisory to repair, monitor, and build your business credit so you can secure financing, win more contracts, and grow with confidence.